US170 - Reforming Wall Street
President Obama passed the Wall Street Reform and Consumer Protection Act to hold Wall Street accountable, prevent future financial crises, and end the era of “too big to fail.” Wall Street reform ensures that if a financial company fails, it will be Wall Street that pays the price—not the American people—and sets ground rules for the riskiest financial speculation. President Obama also enacted a Credit Card Bill of Rights to protect consumers from unfair and deceptive practices, like over-the-limit charges and hidden costs.
When is one of these big bankers going to brought to trial for the 2008 collapse that they in part caused? The evidence has had 4 years to rise to the top and yet no one has been held accountable for the great damage they inflicted on us all. They held Enron executives accountable for it's downfall which only had a limited effect on the average Jon Q Citizen. Why has no one been held accountable for a world wide collapse of this nature?
First off, Obama is President. If he wanted these people prosecuted, he could. The fact that they are not is because Obama does not want to.
Secondly, these banks were not committing crimes. Rather they were do what the government mandated them to do. Which is to provide loans for housing to people who could not afford homes.
Thirdly, Obama supported the Wall Street Bailout when he was a senator.
The people who are accountable are the politicians who stole taxpayer money, not the businessmen who received it. Blame the politicians.
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