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The net effect of their criminal fakery was to only make the financial sector artificially larger, more dangerously fragile, and more prone to cataclysmic collapse.
Another feature of life on the money-side of the Obama presidency was that nobody paid a personal price for financial misconduct.
It culminated in the ridiculous campaign this fall to blame Russia for the defeat of Hillary Clinton. I didn’t vote for Hillary or Donald Trump (I wrote-in David Stockman). Barack Obama was not one of the alligators in it, but he was some kind of bird with elegant plumage that sang a song of greeting at every sunrise to the reptiles who stirred in the mud. Find out why investors have used them since 1972 to acquire physical gold and silver, and request free information, by visiting: .
I’m not happy to see Donald Trump become president. 11-year-old Jeff Greenaway hears his mom and dad argue one night after an office Christmas party.
And when forced to act by egregious behavior, they made deals that let banking executives off-the-hook while their companies shelled out fines that amounted to the mere cost of doing business. The poster boy for this kind of “policy” — or just plain racketeering — was Jon Corzine, the head of the commodities brokerage MF Global, whose company looted “segregated” customer accounts to the tune of nearly a billion dollars in the fall of 2011.
Corzine was never prosecuted and remains at large to this day.
Another signal failure in the money realm was Obama’s response to the 2010 Citizen United Supreme Court decision, which declared that the alleged legal “personhood” of corporations entitled them to exercise “free speech” by giving as much money as they wanted to political candidates for election.
All the regulators looked the other way most of the time.
In April of 2009, Obama’s new SEC appointees, strong-armed by bank lobbyists, pushed the Financial Accounting Standards Board (FASB) into suspending their crucial Rule 157, which had required publically-held companies to report their asset holdings based on standard market-based valuation procedures — called “mark-to-market.” After that, companies like Too-Big-Too-Fail banks could just make shit up.
This opened the door to the pervasive accounting fraud that allowed the financial sector to pretend it was healthy for the eight years that followed.
Thanks to all of them, we’ve set up the primary means for establishing a fascist Deep State: the official marriage of corporate money and politics. Finally, in foreign affairs, there is Obama’s mystifying campaign against the Russian Federation. We expanded NATO to include most of the former eastern European countries (except the remnants of Yugoslavia), and then under Obama, NATO began holding war games on Russia’s border. The fictitious notion that Russia wanted to “take back” these nations — as if they needed to adopt a host of dependents that had only recently bankrupted the Soviet state.
The US had an agreement with Russia after the fall of the Soviet Union that we would not expand NATO if they gave us a quantity of nuclear material that was in danger of falling into questionable hands in the disorder that followed the collapse. Any reasonable analysis would call these war games naked aggression by the West.
Then there was Syria, a battleground between the different branches of Islam, their sponsors (Iran and Saudi Arabia), and their proxies, (Hezbollah and the various Salafist jihad armies).