Bill Moyers Essay: Wall Street’s Secret Weapon: Congress

As the Center for Public Integrity put it recently, they are “Wall Street’s secret weapon,” a handful of representatives at the beck and call of the banks, eager to do their bidding.
Bill Moyers Essay: Wall Street’s Secret Weapon: Congress

Via Moyers & Company:

Why haven’t any big bankers been prosecuted for their role in the housing crisis that led to the Great Recession?

These finance executives took part in “scandals that violate the most basic ethical norms,” as the head of the IMF Christine Lagarde put it last month, including illegal foreclosures, money laundering and the fixing of interest rate benchmarks. In fact, banking CEOs not only avoided prosecution but got average pay rises of 10 percent last year, taking home, on average, $13 million in compensation.

These “gentlemen” are among the leaders of the industry’s efforts to repeal, or w...

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