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Lack of Prosecution of Bank Fraud: Conflict of Interest?

by Guest Author Washington’s Blog

Global Economic Intersection Article of the Week

Obama’s Department of Justice isn’t prosecuting any big fish.  Indeed, the Obama administration is prosecuting fewer financial crimes than Ronald Reagan, George W. Bush, George H.W. Bush or Bill Clinton.

This is true even though the big banks – such as Bank of America, Citigroup, JP Morgan and Wells Fargo –committed some fraud, but their entire business modelis fraudulent.

The same is true of Fannie, Freddie. And even more so with Mers, where its entire purpose – from day one – was fraudulent. .

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