Our Corporatist President: Obama gives a shout out to crony companies in SOTU speech

Obama knows in the end who butters his bread. Obama loves him some corporations and he gave a nod to a few last night. But in the State of the Union Address the president failed to mention many of the other companies which have shown him favor and which his administration has smiled upon.


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Civil Fines for Corzine, No Criminal Charges Most Likely

King Corzine has had his crown more than dented. The former Goldman Sachs CEO, Governor of New Jersey, and Senator is no longer a candidate for the Treasury job as he was in the fall of 2011. His brand is tarnished. His legacy bruised. But it looks like he won’t be going to jail.

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How a Secret Mortgage Settlement with the Banks Actually Saves the Banks Billions

The big banks and the government have become one. Regulation has been completely captured and now banks and government do what is little more than a PR dance for the public whenever anything goes wrong.

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Goldman Sachs Takes Over the Bank of England

Technically one of their alums is taking over the Bank of England, Mark Carney, but it is pretty clear that the “vampire squid” now holds sway over nearly the entire European banking system.

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Goldman Sachs Tells Washington What To Do – Again

You will recall how a former CEO of Goldman Sachs, Hank Paulson, ran the Crash of ’08 as Bush’s treasury secretary by getting an ethics waiver so that he could talk almost every day with Lloyd Blankfein, CEO of Goldman Sachs.

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Why No Perp Walks on Wall Street 4 Years into the Economic Crisis?

We are coming up on the 1 year anniversary of MF Global’s implosion yet Jon Corzine still roams free. He still holds that he has no idea where the $1.6 billion went to.

“It was there one minute, and then, it just disappeared. I wish I could help but I am just as befuddled as you. In the mean time you don’t mind if I jet out to the Hamptons while you guys sort this out do you?

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“Attorney General Eric Holder’s Department of Justice is the biggest enabler of financial crime in US history.” – James Koutoulas, MFGlobal Plaintiff’s Attorney

Corzine shipped his client’s funds to JP Morgan (allegedly) to cover lines of credit because his bets went the wrong way in Europe. The attorney for the people who lost their money believes the evidence of fraud is pretty clear. The DOJ however has not been pursuing leads with the vigor one might expect in such a case.

Koutoulas explains below.

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