From the Daily Caller, Report: Cronyism, political donations likely behind Obama, Holder failure to charge any bankers after 2008 financial meltdown,8/7/12, by Matthew Boyle.


In the report, GAI details how the George W. Bush and Bill Clinton administrations both actually took down financial criminals — unlike the Obama administration. Between 2002 and 2008, for instance, GAI points out how a Bush administration task force “obtained over 1,300 corporate fraud convictions, including those of over 130 corporate vice presidents and over 200 CEOs and corporate presidents.”

“Clinton’s DOJ prosecuted over 1,800 S&L [savings and loans] executives, senior officials, and directors, and over 1,000 of them were sent to jail,” GAI adds.

But, despite having “promised more of the same,” especially in the wake of the 2008 financial crisis, the Obama administration’s DOJ has not brought criminal charges against a single major Wall Street executive.

“By the fall of 2011, Obama had collected more donations from Wall Street than any of the Republican candidates, and employees at Bain Capital had donated more than twice as much to Obama as they did to [Mitt] Romney, the firm’s founder,” GAI wrote in its report.

“In the weeks before and after the Senate report on Goldman Sachs, several Goldman executives and their families made contributions to Obama’s Victory Fund and related entities and some contributors maxed out at the largest individual donation allowed, $35,800.”

“No other modern administration has staffed the DOJ with big money fundraisers,” GAI wrote. “Holder bundled $50,000 for Obama’s 2008 campaign, while Perrelli, West, and Mason all bundled $500,000 for the campaign. West also helped Obama raised an estimated $65 million in California.”

GAI president Peter Schweizer told TheDC that cronyism appears to be infiltrating the halls of the DOJ with the Obama administration, and that it appears Holder’s team has no interest in fighting for accountability when it comes to Wall Street because he, Obama and the rest of the DOJ team have a financial interest in not enforcing those laws.


Read the whole article.

This is a stunning revelation.  This administration which has never stopped blaming others for its failures has proven to be the most corrupted cronyist administration in decades.  Biden stupidly accuses Romney of “unchaining Wall Street” and the press doesn’t blink. The only failure greater than the administration’s is the media’s lack of willingness to openly confront this incredible ethical and moral lapse.

Obama bundler and ex NJ governor Corzine was not charged with any crime even though over a billion dollars of client money was improperly used.  It is not a crime to lose money on bad trades such as under Jamie Dimon at JP Morgan, but is inconceivable that this much money was destroyed using improper co-mingling of customer funds with no one in the firm held accountable.


My apologies for mindlessly using practically the same title from American Thinker article by Jean-Claude Croulx which also sourced the Daily Caller


Why no Wall Street Bigwig has been prosecuted