A Black Agenda Radio commentary by executive editor Glen Ford
A reformist group is petitioning President Obama to end his administration’s “too big to jail” policy. The petition assumes Obama actually wants to do the right thing, even though he has “placed corporate fat cats and their cold-blooded operatives throughout his administration from the very beginning, in positions where they can do the most harm.”
Begging Obama to Turn on His Banker Friends
A Black Agenda Radio commentary by executive editor Glen Ford
“Eric Holder admitted that the administration’s policy is to go soft on banker criminality.”
A petition is now circulating Campaign for a Fair Settlement monetary settlements
The term “too big to jail” is derived from the U.S. Attorney General’s own statements. Eric Holder admitted that the administration’s policy is to go soft on banker criminality, for fear of causing an economic crisis. “I am concerned,” said Holder, “that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them.” The banks, said the president’s top lawyer, “have become too large” – too big to jail.
The petitioners call for an “end to the administration’s ‘too big to fail’ policy by taking immediate steps to break up the big banks and prosecute the criminals who used them to destroy our economy.”
“The concentrated capital of the financial class that represents a clear and present danger to all of humanity.”
First of all, the very act of petitioning Obama assumes that the president isn’t part of the criminal conspiracy, and that Eric Holder – who, as a corporate lawyer, defended the worst criminals
There is no such thing as cutting the banks down to size. It is not the size of the banks, but the concentrated capital of the financial class that represents a clear and present danger to all of humanity. This class operates through a myriad of financial institutions, moving money at nearly the speed of light. Breaking up JPMorgan Chase into two or three banks does not prevent the same capitalists from using all three for the same nefarious purposes, and just as efficiently. Maybe more so, since the reformers will have convinced themselves that they’ve won.
For Black Agenda Radio, I’m Glen Ford. On the web, go to BlackAgendaReport.com.
BAR executive editor Glen Ford can be contacted at Glen.Ford@BlackAgendaReport.com .
The Neighbor Program is a "Pan-African Socialist Organization committed to serving the people & loving our neighbor." Founder Jordan MacGowan speaks to Roberto Sirvent.
This week’s featured authors are Alyosha Goldstein and Simón Ventura Trujillo. Goldstein is Professor of American Studies at the University of New Mexico. Trujillo is Assistant Professor in the…
The ongoing conflict in Ethiopia's Tigray region has been fueled by support from the United States. It is yet another proxy war which has brough great suffering to thousands of people.
Had it been fully implemented the Hawkins-Humphrey full employment bill would have been a boon to U.S. workers. Any talk of reviving it is now moot, as the industrial economy of the 1970s has been…
The U.S. mined a million tons of guano on a Haitian island without paying a cent to the Haitian authorities. Other countries have sold the product for hundreds of millions of dollars.
