PROOF that the Financial Industry is TERRIFIED of Obama

[MannyGoldstein]

I had been thinking that President Obama has been lax on the financial industry, but I was wrong.

Turns out they're actually terrified of his Administration: in fact, financial fraud has dropped to new lows! See this striking chart of prosecutions of financial institutions for fraud:



Looking at the chart, we see that financial institutions ran wild under Clinton, started getting scared under Bush, and now are absolutely under Obama's thumb - financial fraud is down more than 50% today!



Thanks to ThinkProgress for setting me straight!

[ProSense]

1. Thanks

That looks like proof that prosecutions started dropping after the repeal of Glass-Steagall.

[MannyGoldstein]

4. And kept dropping every year for 11 straight years

Something has them very worried.

[Fumesucker]

2. The trend toward honesty in the financial markets is emphasized even more with this graph..

As you can see, prosecutions for everything except financial fraud are climbing, clearly the financial industry has a record of morality that the rest of society would do well to emulate.

[MannyGoldstein]

5. I think it's the pot smokers

The sooner we're rid of them, the better off we'll all be.

[Fumesucker]

10. Where is Harry Anslinger now that we really need him?

[ProSense]

15. More detailed

http://drugwarfacts.org/cms/?q=node/62



http://stopthedrugwar.org/speakeasy/2011/feb/22/politics_incarceration_will_have

[Fumesucker]

18. See, America is awash in an ocean of crime..

All except for the financial industry..

They really are the Masters of the Universe due to their impeccable morals.

[DontTreadOnMe]

3. ugh!

So PROSECUTIONS are down 50%... has no correlation to the amount of ACTUAL CRIMES COMMITTED.

If a banker commits a crime in the woods, and the prosecutor is not around... did it happen?... oh forget it.

[MannyGoldstein]

8. Actually, I was being sarcastic

But I do recognize that things are so weird these days that reality and fiction are tough to tell apart!

[DontTreadOnMe]

29. You are right... it's just so hard to tell these days

US Media is just so full of total bullshit these days

[Selatius]

6. Just because a crime is committed doesn't follow that it is also prosecuted.

If you have a police force without enough resources to handle the work, it's very easy for the division to fall behind on all the new crime being committed out there. The NLRB is a prime example. They're split into two divisions, one that enforces labor laws against corporations and businesses and the other that enforces laws against labor unions and workers who break the law. Under George W. Bush, you can guess which division got more funding. Looking at their prosecution rates, you'd think labor unions were just as bad as corporations as far as breaking the law when, in truth, labor unions in the US have never been weaker.

It could easily be that the drop in the prosecution of financial fraud is due to a lack of resources at the appropriate criminal divisions at the FBI and Justice Departments, and we're in a recession where the government is running deep deficits.

[randome]

7. Stephen Colbert, is that you?

[SidDithers]

9. No, it's not. Not even fucking close...nt

Sid

[randome]

11. It's Colbert-ish hyperbole.

Except it's meant to TRULY put the President in a bad light, instead of Colbert's deliberate fakery to highlight the Republican agenda.

[Fumesucker]

12. How is it hyperbole?

Financial fraud prosecutions are dropping because the financial industry as a whole is becoming more moral..

What other logical explanation could there be with a Democrat in the White House?

[Skittles]

30. hyperbole is the word tossed around when their argument sucks

P.S. you really need to re-analyze the orgininal post

[GeorgeGist]

36. I see what you did there.

Not even close to cool.

[rrneck]

13. You don't bribe a politician to break the law.

You bribe them to make your crimes legal.

[scheming daemons]

14. Yay! Another anti-Obama screed by Manny! Yay!

[Fumesucker]

16. It doesn't look anti-Obama to me...

Clearly the financial industry has cleaned up its act under Obama..

How is that a bad thing?

[scheming daemons]

17. Manny's being sarcastic... his angle is that

the number of prosecutions under Obama is way down. That's the information he wants out there.


Only Manny believes it is because Obama isn't willing to prosecute...... but he's sarcastically framing it as the prosecutions going down because the crimes have gone down.


We all know that Wall Street crime hasn't decreased... So Manny is hoping it leads you, dear reader, to the conclusion that Obama is soft on Wall Streeters.

[MannyGoldstein]

20. "We all know that Wall Street crime hasn't decreased"

So... why is it that prosecutions have plummeted?

Puzzling.

[Fumesucker]

21. Because those sorts of prosecutions are hard, Manny..

I mean some of those Wall Street types aren't even using public defenders, how can we expect US attorneys to go after people who have real lawyers?

Far more prudent to prosecute cancer grannies for smoking pot, they don't have the resources to fight back.

[MannyGoldstein]

22. They may be pot-smoking cancer grannies, but

they are felons, mister. Hardened criminals that should not be free to prowl our streets.

Some operate their scooters while impaired.

[scheming daemons]

23. Obviously because Obama hates America, Manny...

...there can be no other explanation... right?

[MannyGoldstein]

24. Seems like you don't want to answer the question. nt

[scheming daemons]

25. I already did

I capitulated to you, Manny.


Obviously, Obama is evil and must be destroyed.


You've finally converted me. You should be happy.

[MannyGoldstein]

27. I don't think that's a serious answer. nt

[scheming daemons]

33. It is clear that your goal on this site is to turn people against Obama

I am telling you that you have succeeded.

Good work. You're very good at it.

[SidDithers]

34. +1...nt

Sid

[whatchamacallit]

19. Lol!

[NashvilleLefty]

26. To every season

Turn! Turn! Turn!
There is a reason
Turn! Turn! Turn!

Manny, I'm really sorry that Obama didn't have a "magic wand" that could make all of your personal dreams come true. But this is the Real World. Are you going to blame Obama for only being Human?

We know where the problem was - Republicans TOLD us that they would oppose Obama and all DEMOCRATS at every step. It's not difficult, because they TOLD us this is what they would do.

I feel your anger, and it is justified. But it is misdirected.

Please direct your anger towards those that REALLY deserve it.

[Fumesucker]

31. See, there's the "Obama is powerless" meme showing up once again..

http://www.democraticunderground.com/1002650368

Prosecutions fall under the executive branch of the government, a branch under the control of Obama as the chief executive, the US Attorneys are appointed by and answer to Obama, not the Republicans.

[gratuitous]

28. Glad to see you've finally come to reason

Congratulations. Now, if you'd just get over that unnatural attachment to quaint old documents, everything would be, oh, just as right as rain!

[MadHound]

32. Yeah, the finance industry is soooo scared of Obama

So scared that they were the number three donating sector(with 48 million) in '08 and are currently ranked third as well with 13 million so far.

[KG]

35. TERRIFIED DURec.

[magical thyme]

37. I blame Eric Holder

I thought he looked like a really stand-up, follow the boss's orders kinda guy. Guess I was wrong, right?