Letters to the editor for May 29, 2013

By Union Democrat staff May 29, 2013 03:00 pm

Too big to fail, now too big to jail

To the Editor:

The Federal government’s philosophy of treating banks misdeeds (fraud) has been expanded from “too big to fail” to include their executives outright crimes (money laundering for terrorists and drug cartels) to the category of “too big to jail.”

The latest being HSBC, found guilty of laundering $880 million American dollars worth and the SEC is in the process of implementing fines and no “jail time.”  It wasn’t too long ago the feds allowed Citigroup to pay $285 million in fines if no executives were prosecuted for their intentional “sale of toxic mortgage bonds.”  

This is why I have claimed in previous letters that Wall Street owns the White House and most of Congress. Congress sits idle and observes these miscarriages of justice while they spend their time persuading the public that it is more important to sanction Iran because they “might” be making one bomb that might look like the 18,000 nukes the U.S. has ready to fire.  Large media is complicit in this hoax on the American public.

Dennis Schneider

Angels Camp