The rule of law has ended for financial elites. CEOs are allowed to defraud with impunity.
Mankiw morality predicts that CEOs, whenever they can personally get away with it, will rig the system to create a “sure thing” allowing the CEO to become wealthy through fraud and other abuses.
To no one’s surprise, President Obama lobs periodic attacks on Bernie Sanders’ plans to restore the rule of law to Wall Street elites. Obama launched his latest attack, fittingly, through Wall Street’s sycophant-in-chief, Andrew Ross Sorkin.
Holman Jenkins, the ultra-conservative Wall Street Journal columnist who specializes in global climate change denial and elite financial fraud denial, has written recently to join Paul Krugman in defending the systemically dangerous banks.
Andrew Ross Sorkin demonstrates that understanding legal issues is beyond his ability.
The Clintons’ devotion to Wall Street funding leads to them libeling the American people.
The Clintons and Gore delivered for Wall Street by embracing the three “de’s” – deregulation, desupervision, and de facto decriminalization that encouraged and allowed twin bubble to rapidly expand.
Remember several weeks ago when Hillary Clinton was complaining that Democrats did not consider her a “progressive?” Bernie Sanders’ big win in Wisconsin ended that tactic and propelled Paul Krugman and Hillary and Bill Clinton to race to the right,
President Obama exemplifies the problem. There are zero prosecutions of any Wall Street official who played even a modest role leading the three fraud epidemics that caused the financial crisis.
Paul Krugman April Fools’ Day column launched another attack on Bernie Sanders. In it he announces that he, a strong Hilary Clinton supporter, is “Dad” and gets to set the rules.