On Sunday night 60 Minutes went there. Prosecuting Wall Street asks why over three years after the Great Crash of 2008, no one on Wall Street has been prosecuted. Specifically, why haven't the Department of Justice or the SEC prosecuted Wall Street for violations of the Sarbanes-Oxley Act? CBS' Steve Kroft interviewed two high-level whistleblowers and Obama Administration Assistant Attorney General Lanny Breuer.
That's right. Unless you are on NY AG Eric Schneidermans' side here, one can't claim to care about the abuses of Wall Street and the overall fraud behind the subprime mortgage meltdown and the foreclosure crisis. It's really that simple. You have to criticize this White House for pressuring him to side with the dirty banker deal they still support or factually one really can't claim to care about a functioning financial system or economy at all.
For instance, it occurs to me that as our brave brothers and sisters are getting beaten and maced while occupying Wall Street, we must not forget that there is a real chance for some accountability.
There is also a chance for us to submit the idea that more attention should be paid to this story among the protesters so the media can't say there is no unifying message. Like Susan Sarandon said, there should be some unifying messages that tie everything together like campaign finance reform and ending Too Big To Fail. I would argue the same not that I don't think there are already unifying messages by occupying Wall Street in general now that the movement is spreading to more cities. Prosecuting fraud is also at the core of all of which #occupywallstreet is protesting, so why not draw attention to the fight Eric Schneiderman is bringing forth against the banks?
NY AG Eric Schneiderman like Elliot Spitzer before him is not budging despite this administration's attempts to get him to basically sign onto the dirty banker deal and paltry 20 billion dollar settlement for crashing our economy and taking a big part crashing the global economy, municipalities and the like. This dynamic might rock the markets soon with the prospects of Greece defaulting causing insolvency with their bond holders in France and elsewhere as well. This is behind the joblessness and the sickening austerity measures prolonging it all of which is being protested.
Californians and New Yorkers have an extra incentive to GOTV. In both states, the race for Attorney General is highly consequential, basically tied, and an opportunity to elect an outstanding Democrat.
Harris and Schneiderman are very impressive public servants committed to the public interest. As a result, both are facing strong opposition from powerful, entrenched special interests determined to avoid accountability.
In the quest to maintain a Democrat majority it seems easy to overlook the race for New York State Attorney General. Considering a powerful social and economic justice policy position where the jurisdiction includes Wall Street and the traditional influence this office has had over media and talk shows it's not about majority but justice vs. injustice.
Now Eric Schneiderman who is committed to "protecting homeowners and consumers from bad actors on Wall Street" faces a Republican who has suggested that he would "de-emphasize the high-profile securities fraud cases that defined the tenures of Attorney General Andrew M. Cuomo and Eliot Spitzer." In a nation where the banking lobbyist induced false claim that "sound economics means hands off Wall St." is too often heard, think back the early 1990's when nobody seemed interested in the big money crimes and Eliot Spitzer did much to change the national focus.
But Senator Schneiderman represents so much more that that. Not just a politician but a public servant with the energy and willpower to fight for the people. Looking at what this man has to offer in this high profile office with the power to steer the national debate, it seems obvious that a NY loss would be a setback for all Americans.