These morally reprehensible people are directly responsible for the global financial mess, yet they are not being punished at all, and their companies are paying small fines (just another everyday expense of doing shoddy business). Bernie Madoff wishes that he had worked for a bank because he would be free now, and have a nice bonus this Christmas, just like the dishonest traders and executives at Goldman Sachs, Citicorp, Bank of America, et al.
By any standards of decency, these people did something flagrantly dishonest, then laughed about it, and finally bet against the very loans that they created. Yet they don't go to jail! They go out to laugh at the Occupy Wall Street people, and continue to do business as usual. If YOU sold someone something that you knew was rotten, they could have you punished. But not if you worked for a Wall Street Bank. Instead, you'd get a bonus at Christmas for your "good" work, while their companies pass the fines off to their customers/victims to pay.
The Securities and Exchange Commission was charged to deal with this injustice. It says it has "settled" (that's Washingtonspeak for "don't upset the campaign contributers") with the banks - a pittance of fines (compared to the billions in junk they sold), and NO ONE culpable has to admit or deny any wrongdoing. They don't even have to sit in a corner like any wayward child and think about the travesty that they created.
This is an outrage that only goes to prove that the Wall Street Banks have all the power in this country, yet they create nothing but havoc for the nation, and for small local banks as well. Unlike the small banks which do make loans to us, all Wall Streeters do is shuffle paper around and add a fee regardless of whether the paper has any value.
How do we citizens make this corruption stop? One way is to take the perpetrators and put them in jail including the bank executives who think that they can't be touched. Another way is to pass an amendment to say that "corporations are not people".
Please sign this petition to insist that the President and SEC Chair Shapiro stop sucking up to Wall Street and find the courage to Punish the Perpetrators on Wall Street, Along With Their Companies Executives.