Again I ask, why aren’t these con artists being prosecuted? Is it because we allowed white collar crime to be dismissed in favor of prosecuting drug crimes and whistle blower cases? It is sad that we have the highest number of people incarcerated in the world and yet the amount of cases involving fraud resulting in jail time is frighteningly low despite the staggeringly high price our society is being forced to pay in terms of displaced revenue and the cost of ongoing taxpayer subsidized bailouts. Thank goodness for Senator Elizabeth Warren and her Consumer Financial Protection Bureau which to date is worth more than its weight in gold. Ironically Trump has faced the ire of New York State’s Attorney General with Trump’s own Trump University scandal, price gouging and fake promises, so I doubt Mister Trump will be chiming in anytime soon. How much more proof do we need that stringent financial regulations are necessary and without them, our economy suffers on multiple levels. The only winners in our current situation are the predatory lenders such as Sallie Mae and Wall Street, basically the entire finance industry, while we, who actually make the economy run, get shortchanged time and time again. This is no way to run an economy and think that it will be a strong one simply because there exists a greater number of millionaires and billionaires than ever before. Instead I would argue that ever since middle class lost its share in economic demographics, our economy has grown weaker. Elizabeth Warren knows this which is why she consistently demands for more policemen on the financial beat, as she loves to put it. We should be listening to Elizabeth Warren, she truly understands the complexity and the potential for duplicity in the finance world.
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