Is Russia That Much Worse Than The USA With Regards to Big Business?

We hear in the news that Mikhail Khodorkovsky is being sentenced to spend time in jail through 2017. And while we don't know the whole story, some have said that the law was applied selectively to Putin's enemies, and he was considered by the real power in Russia to be an enemy. But is Russia that much worse with regard to the treatment of big business than is the USA?

My contention is that the government of the United States has actually created massive injustice by doing the opposite of Russia, and that is to leave big business alone to commit criminal acts. There should be prosecutions in the United States. If there are not laws now written, they should be, that would make a criminal penalty to do some of the things that have been done to the consumer of the US through the dot com crash and the ponzi housing bubble.

Clearly, the dot com bubble was engineered by speculation. And lots of people got hurt. We know that many of the IPO's of crap companies gained massive financial backing. Where have the prosecutions for fraud and racketeering come for those crimes against mainstreet? A lot of average folks lost their shirts.

And certainly, the ponzi housing bubble was a form of financial speculation. Investment banks that kept the ponzi going by purchasing bad mortgages and packaging them up into bonds rated AAA committed fraud and racketeering by selling these bad bonds in my opinion. The government of the United States has looked the other way. Since the media is controlled by the wealthy elite who have an interest in the success of Wall Street, the government cannot look at the big bankers funny without the media coming to the rescue of these banksters and saying that the government is bad for business!

As we look at what happened to mainstreet, the fraud and racketeering we see in Foreclosuregate is not being prosecuted. Where is the prosecution of JP Morgan or Bank of America? While these banksters are innocent until proven guilty, the fraud committed upon the courts should be prosecuted to the fullest extent of the law. But it isn't being prosecuted.

Mainstreet was ripped apart by liar loans and the like. There should be standards of behavior by bank lenders that make it impossible to get ponzi loans unless you have a certain level of wealth. Never before had bankers turned away sound underwriting. People got too much house because they were not subject to the same underwriting standards that all sound banks normally use. Because these banks could sell the loans into the bad bonds described above, they refused to apply normal underwriting standards. Homeless people could quality for loans. The financial institutions that allowed people to buy too much house with toxic mortgages committed a pattern of fraud and racketeering, which, in my opinion, needs to be prosecuted. Without setting the RICO dogs loose we are no better than Russia, as the US government allows massive fraud to go unpunished.


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