“Four people
who have been at the center of some of the nation’s biggest Wall
Street scandals have come together to send a message to the 2016
presidential candidates: Pledge to stand against Wall Street fraud
and corruption – not just with words, but with the kind of actions
that Americans have long expected but have yet to see.
The four veterans
of battles with banksters – Gary J. Aguirre, William K. Black,
Richard M. Bowen III and Michael Winston – on Thursday called on
the candidates to not take contributions from financial companies or
officers that have been charged with fraud, particularly related to
the 2008 financial meltdown. They have also outlined a set of actions
that they say will “restore the rule of law” on Wall Street. They
have formed a new organization, Bank Whistleblowers United, to move
that agenda forward.”
In the announcement of Whistleblowers Group's Initial Proposals Mr.
William Black said:
“We [ Gary J. Aguirre, William K. Black, Richard M. Bowen III and
Michael Winston] are all from the general field of finance and we are
all whistleblowers who are unemployable in finance and financial
regulation because we spoke truth to power and committed the one
unforgivable sin in finance and in Washington, D.C. – being
repeatedly proved correct when the powerful are repeatedly proved
wrong.”
- The SEC has also proven ineffective in holding the elite Wall Street bankers who led these fraud epidemics personally accountable. As with DOJ, one of the fundamental problems that has gotten worse is the “revolving door.” We propose a practical means of reducing that problem.
- Dodd-Frank has not fixed the gaping problems endemic to finance that will cause future epidemics of elite financial fraud and resultant global crises.
- We know how to identify developing fraud epidemics before they hyper-inflate financial bubbles, how to prevent or at least greatly reduce such epidemics, and how to prosecute effectively the elite banksters. Our group includes former regulators who demonstrated each of these abilities. What we need is the political will to make the vital changes in the face of fierce opposition from the elite banksters. That will is sapped by the revolving door.”
“Not a single one of those elite
bankers who led the fraud epidemics has been prosecuted and only
one, a woman who was only moderately senior, has been held
personally accountable in any meaningful way through a civil suit
(made possible by a whistleblower). This is the greatest strategic
failure of the DOJ in recent history.
“...each
presidential candidate – which portions of the Whistleblowers’
60-Day plan will you pledge to implement? We hope the candidates will
commit to breaking Wall Street’s power over our economy and
democracy. The Whistleblowers’ 60-Day plan provides any candidate
with the practical steps necessary to make real the twin goals of
restoring the rule of law to Wall Street and ending crony
capitalism.”
Do not even bother with the Republicans; their candidates are hopeless, including that bloviating bundle of inflated ego called Trump! Trump will give the world the finger for you, but he will not lend you a hand; well maybe he will if you agree to usurious interest fees.