Only In America, Part I

The New York Times has a front-page story about how Federal prosecutors are getting tough on the banksters. The headline: “Long Seen As Immune, Two Wall Street Banks Become Targets”. 

But look closer. The two “targets” of government prosecutors are BNP Paribas and Credit Suisse: The latter for offering tax shelters to American clients, the former for making deals with Sudan and other blacklisted countries. 

Meanwhile, Goldman Sachs’ front-running of its own clients? Bank of America’s shameful, shameless mortgage scam loan business? Robo-signings? High Frequency Trading? Collusion on interest rates? All that and much much more, the government regulators have let slide. 

They are going after two minor banks—two minor foreign banks, which did not receive any American government largesse (i.e., taxpayer dollars) when the Too Big To Fail banks were bailed out in 2008—while letting the big fish swim away, untouched. 

And the New York Times has the gall to say, “The banks are finally getting their due!”

See, this is why it’s becoming too depressing to blog. Like Capt. Willard said: The bullsh*t piles up so fast, you need wings to stay above it.

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