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Sunday, September 25, 2016

Reuters

This opinion piece originally appeared at Reuters.com.

  • DaleCuthbrtson

    the downfall of America is partly due to the fact there is no responsibility for ones actions

    we live with 2 sets of laws one for the rich and powerful the other for the rest of us poor slobs.

    the downfall of the democratic party started with the Tom Delaney and Charley Rangel debacle

    they were let go with a slap on the wrist? If this was one of us we would still be in prison.

    so the message sent was we are GOD’S you the American people are nothing!

  • emma

    I wonder when presdent obama said the weak rules on acounting give inadequate budgets while his health care’s reform stick the country with higher unemployment and the deficit budget I think to reelect president obama will be the most costly mistake for the country . I would like to congratulate the house republican on how they passed the payrolltaxe, with this hard time we haven’t the right to trend the country in the sea

  • bigtommy63

    tax evasion , the never ending ,always with us art of stealing other peoples money will never be overcome ,until the the materialistic attitudes are replaced with” I have enough ,let someone else reach their goals”. Am I living in a dream world,probably,but I would rather have hope that we can level the playing field thru attitude change ,rather than thru the law. Of course the laws are necessary ,because there will always be those few {hopefully} that live to defy the law. That should not stop us from teaching our children in school and out that the world becomes a better place when we think of our brothers and sisters in life.

  • Peter

    From what I have read it sounds like federal tax investigators typically reap far more than we invest in their salaries when they investigate and catch tax cheats. So why don’t we hire more investigators? Many more. It would create jobs and increase our net tax income! Hardly anyone has their tax returns audited yet cheating on your taxes is a common household felony. Especially for those who own their own businesses.

  • dpaano

    Emma: Please advise me where you got your information??? The healthcare bill will NOT cause a loss of jobs, will save taxpayer’s money (unless you don’t mind your taxpayer money going to pay for uninsured individuals who run to the ER every time they have a headache), and will somewhat block insurance companies from declining to insure an individual due to a pre-existing condition (which is when they need it the most). Obviously, you don’t read up on the issues at hand or you would not have made your ludicrous comment!

  • franklipsky

    On 60 minutes “Kroft said he suspects that is because “there’s not been any prosecutions, criminal prosecutions, of people on Wall Street….
    Obama deftly avoided the issue. “Some of the most damaging behavior on Wall Street, in some cases, some of the least ethical behavior on Wall Street, wasn’t illegal. That’s exactly why we had to change the laws.”
    I watched the entire interview and nothing enraged me more than Obama’s response to Kroft’s question-in a almost apologetic “Stepford wife response!There was nothing adept about that response!
    I just published an ebook titled “Economic Cancers in America-Causes and Cures” which contains the answer to the questions Kroft posed and the President evaded .
    I like this President but I worried before he was elected (not as an ‘after the fact talking head” )whether he had sufficient business experience!
    He does not and history will prove my judgment correct
    Frank Lipsky Scottsdale AZ

    BS Engineering Physics Lehigh University

  • AndyMc

    Imagine the state of our economy if we did three things in relation to this topic. 1. hire more regulators and assign them to seek fraud cases. 2. Severely punish the fraudsters at a high level of their culpability. 3.End the Bush tax cuts for the income level at which most of this fraud occurs. We have rewarded the fraudsters with a tax break and a free from prosecution card. If we eliminate the tax cut and prosecute the fraud ( heavy fines, jail time in a federal maximum security prison and repayment with interest of all back taxes we will save close to 1 trillion dollars a year. Over ten years that is 10 trillion dollars which would shrink our deficit to a mere 4.6 trillion dollars. When the conservatives start yelling about our debt we can remind them of three easy steps to eliminate over 70% of it with no pain caused to most of the population. That is less than 1% that will feel the pain. They will have earned the right to feel the pain the rest of us have had to endure.

  • Glass Houses

    I support President Obama and always have – since he became the nominee. In retrospect Hilary would probably have been the stronger candidate – stronger in leadership due to her experience and age. Obama should have waited until later to run perhaps, but he is there now and I too cannot understand the pull that business and banking have on him.

    Geittner definitely needs to go. He was too involved in the Bush/Paulson mess and is the poster child for the mess the banking/financial industry caused. Can you imagine, several guys who have the power of our financial future in their hands, sitting around, desperately making phone calls and waiting for others, GUESSING what they could do next to keep the country from financial suicide because their “friends” in finance didn’t know when to stop. One would have thought that due to their financial expertise that put them into these positions of power in the banking and financial industries, surely they would KNOW what to do rather than call Warren Buffet – Hey Mommie, can you loan me a little money just to cover my immediate expenses? They had either knowingly allowed or knowingly ignored these relatively few people who held everyone’s money and who could not seem to get enough out of lying to people who bought homes they were reassured they could afford and then packaged all of those VERY “Iffy” loans and sold! them to other “financial insiders” who SHOULD have KNOWN BETTER, but apparently weren’t playing in the same sandbox at the time.

    Those comparatively few floating around above the frey, were bored and always thinking about how they could make MORE money but not considering the potential consequenses – why should they have to consider any consequenses? These were financial people whose knowledge is so focused and complicated (or so they thought)that they didn’t have to explain their actions to ANYONE! However, since they almost tore our financial system apart (and continues to do so in other ways today) WHY are they NOT being prosecuted for FRAUD. KNOWINGLY lying to encourage someone to hand over their money so that they could invest in something and make that profit when they had to be aware of the frailty of the situation and that ultimately it would all come crashing down and doing over and over AGAIN. And then for people who are thought to understand the markets stupidly invested billions in “imvestment packages” of toxic assets (before they were toxic assets) it is totally unbelievable.

    Does NO ONE THINK!? So when the bottom falls out the people who suckered and took their advice because we used to be able to trust our bankers -or so we thought and that they would NEVER deliberately defraud anyone because FRAUD is illegal! so just sign the documents and don’t bother reading. Sounds like fraud to me. I would very much like to hear the legal reasoning behind Obama’s comment that even though some of the things that were done that put the U.S. on the financial brink were terrible but not necessarily illegal. Please explain. Your dislike of confrontation, President Obama, is obvious, at least from this side, but HOW can you justify NOT putting these people out there for the Attorney General to investigate? The branches ARE separate, but he’s YOUR Attorney General so SAY SOMETHING to him!

    If you want to be re-elected, you MUST give SOMETHING BACK to the middle class, the REAL people who were screwed. You cannot only be seen with the rich. And if it cannot be just enough money to pay off everyone’s mortgages and thus getting the money to the bank only through a different route (which would have been much more beneficial than giving the banks a ton of money with the expectation but not the written agreement to lend it out!). Give those who want to vote for you or who vote for you by default – no repubhlicans to choose from – either way – GIVE BACK! to the middle class – even if it is only in the form of convicted bodies.

  • wpperrine

    is prosecution of those people who defrauded us of trillions of $ invested in our homes. When Goldman Sachs sells products to us & then takes positions contrary to the valuation of those securities, IS IT NOT FRAUD? I support Obama too, but I sure don’t like how he coddles the Wall Street types who caused the financial meltdown.