To the Ramparts by Ralph Nader

Author:Ralph Nader
Language: eng
Format: epub
Tags: consumer protection, corporate welfare, citizens united, black lives matter, resistance, protest, September 11, 9-11, 9/11, post-9/11, president bush, george w. bush, george bush, president obama, barack obama, political policies, books about presidents, patriot act, surveillance, citizenship, political non-fiction, imperialism, Neoliberalism, President Trump, capitalism, anti-capitalism, anti-fascism, politics, political essays, Donald Trump
ISBN: 9781609808488
Publisher: Seven Stories Press
Published: 2018-07-12T18:00:00+00:00

These remarkable concessions mystified both Senator McCain and Senator Carl Levin, the latter having conducted an early inquiry into these banking crimes.

Credit Suisse’s American CEO, Brady Dougan, immediately issued a statement regretting “the past misconduct,” and the bank’s British CFO, David Mathers, then said that the deal would assuredly produce no “material impact” on “our operational or business capabilities.”

For the sake of comparison, let’s imagine that such crimes were committed by a community bank or a credit union. The government would have shut them down and their executives would have been prosecuted, convicted, and sent to jail, as hundreds of officials were during the savings and loan scandals in the eighties and nineties.

In short, Credit Suisse is not only too big to fail, but the schemers at the top rungs of the company are apparently too big to jail. Eight lower-level supervisors were indicted. Six of them remained in hiding, allegedly in Switzerland, to avoid being extradited.

There is another problem that needs attention, as James Henry, former chief economist at McKinsey & Co., described on Democracy Now!:

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