U.S. President Barack Obama Has Failed To Curb Fraud And Theft In Corporate Sector
Over the past week, both the Al Jeezera news network and convicted fraudster, Bernie Madoff, have called the U.S. economy a "ponzi scheme." That’s a very serious indictment, regarding the state of the nation’s financial affairs.
There is some merit to their statements. For years the Judiciary Report has stated, there are many companies on the stock market in Corporate America that are fraudulent and serving no real function, other than defrauding and gouging people.
They are eating away at the country’s productivity and national output. The SEC and FBI, charged with investigating and weeding out criminals in the marketplace, have become so corrupt, blatantly crooked companies are allowed to remain in the corporate sector, among legitimate corporations. These fraudulent companies that thrive on stealing are wreaking havoc on the economy.
The conflicts of interest present are astounding as well. Last week, U.S. Attorney General, Eric Holder, announced there would be no charges against Angelo Mozilo, the former head of Countrywide, a company that played a significant role in the 2008 Financial Crisis. Mozilo made off with close to $200,000,000 in ill-gotten gains, after helping to destroy the top economy in the world.
A few days ago, it was announced, the top lawyer at the SEC, David M. Becker, was personally profiting from Bernard Madoff’s crimes and has been sued as a result. However, he should be indicted. The Judiciary Report was the first to state after Madoff's arrest, the US government knew of his criminal conduct for some time, but looked the other way. There’s a reason for that - they were getting paid to do so. It's called bribery and "Too big to fail."
America still has a number of real companies churning out successful products in the marketplace, but gone are the days when the nation was number one in this regard, dominating international trade and finance. This is due to the fact, the government has allowed criminals to take root and fester in the corporate sector, who are in essence, stealing a living, not earning one. They are criminally taking from hardworking people, to fund their lavish lifestyles, while deteriorating true wealth via theft.
A new breed of crooks have mixed in with genuine companies on the stock market and in the marketplace, with the motto of "steal, steal, steal!" Some may refer to such criminal conduct as shrewd and clever, but how good can it be in light of the fact it brought down a whole nation and destroyed its once prosperous, top ranked economy. This ought not to have happened, but it did, because the government foolishly allowed it for devious reasons that have not panned out.
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