‘Control Fraud’ – Corrupt Bankers Do It, Congress Ignores It

The bipartisan shellacking Senators gave John Stumpf, the Wells Fargo CEO, last week made for great television, but did nothing about the real scandal: Our government continues to look the other way as many top bankers thumb their noses at fraud laws.

There is a term for the criminality that infects our biggest banks and damages the economy, and there is a solution to this problem. But there is also an obstacle.

Read more of David Cray Johnston’s post: ‘Control Fraud’ – Corrupt Bankers Do It, Congress Ignores It | Investopedia

3 Responses to ‘Control Fraud’ – Corrupt Bankers Do It, Congress Ignores It

  1. Some might say Congress shines the shoes of bankers, even invoking the term “spit polish”, but I think a more apt term would be boot licking.

  2. IsItSomethingISaid

    If, in the 5th year of marriage, one’s spouse infects the other with an STD, the problem is not the STD, the problem is the infidelity that produced the infection. While the infection must be eliminated, the problem that produced the infection must also be eradicated. Otherwise additional and worse infections can be expected.

    Stumpf and Well Fargo are but just one symptom of the infection that is raging thru our country and society. While that infection must be eliminated, the source of the infection, the Unconstitutional and fraudulent-reserve grifting Federal Reserve and their associated banksters, and Wall Streeters, must be eradicated. Otherwise additional and worse infections can be expected.

    An American citizen, not US subject.

  3. Absurd – what do we expect congress to do? Unfortunately, Johnston would like us to focus on “elected officials” as if it were obvious that “they should be doing something”, but he misses the point completely, which is that congress is doing something, they are ignoring their constituents by seeing no evil.

    Contrary to the oft repeated advice of a cadre of writers – similar stature, and perhaps girth as David – the most powerful actions by citizens are not to write, or petition, or vote for a bought and sold apparatus.
    Further, do not listen to a press that never tells the whole story and instead is not providing information for your benefit.

    The FCIC Report reveals the big lies. The Government, through deceit, will never implicate itself. It pretends to exist outside or separate from an engineered disaster. Indeed, it must sustain itself through marketing efforts, regardless of how many of its citizens are damaged. Writing a book, or scolding someone appears to be all that’s necessary to sell a fraud to Americans.