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The Real Traitors to America are in Washington and New York

Obama/Biden full-court press on Snowden is a bad joke

Even Cyrus Vance Jr., the supposedly tough-as-nails, no-nonsense district attorney of Manhattan, whose jurisdiction encompasses the home offices of most of the biggest "too-big-to-fail" banks, won't indict any of them or any of their top executives. It's not that he won't indict a bank, but instead of going after Goldman or Citi or Chase, he has indicted -- ready for this? -- a little independently owned community-based Chinatown bank called Abacus Bank, which has total assets of less than $250 million. That's million. For comparison, the largest US bank, JP Morgan Chase, has total assets of $2.39 trillion dollars, which is almost 10,000 times as big. Worse yet, although Vance, in indicting the bank, claimed its fraud (a bank employee, fired and voluntarily reported to regulators by the bank, had been been falsely inflating loan applicants' incomes to help them take bigger loans), was "an example of what brought down the US economy," actually Abacus has a loan default rate of 0.5%, which is just one-tenth of the national average bank loan default rate of 5-6%.

Why hasn't Vance, at least, indicted some of the big banks, which many knowledgeable analysts and critics have said are little more than giant organized crime syndicates, in some cases such as B of A, Citibank and HSBC actually knowingly laundering vast amounts of drug cartel cash? His deputy says it's because there is no evidence of prosecutable crimes committed by them! Probably it's the same reason Washington politicians won't go after them: it would jeopardize all that banker campaign lucre -- and Vance surely has his eye on the New York governor's mansion in Albany.

And so, back to Snowden, whose only "crime" has been to expose the galloping fascism of the US government, which has, behind our backs, established a national domestic surveillance system so vast and Orwellian that the old East German Stasi or Soviet KGB couldn't even dream about having such a thing.

blankWho has done more damage to the US? (from left, CitiGroup's Jamie Dimon, NSA whistleblower Edward Snowden, Goldman Sachs' Lloyd Blankfein)

 

So now we have Vice President Joe Biden, who came to his post from a position as Senator of Delaware, the state that is the legal home for some of the most criminal corporations in the country because of its lax oversight laws and its protections against shareholder activism, lecturing Ecuador about the importance of the "rule of law," and threatening the country with loss of its "most-favored-nation" exemption from import duties on exports to the US if it grants Snowden asylum from US prosecution.

But wait! As President Correa has pointed out, his country has been trying for years to get the US to extradite two bankers, Roberto and William Isaias, to face charges in a bank fraud and collapse of Filanbanko that was at the center of a US-style systemic bank collapse. That collapse ultimately cost the little country's 15 million people a staggering $8 billion in losses. The two men, who fled to the US in 2000 and have been protected from prosecution by the US since then, were sentenced in absentia to eight years in jail earlier this year.



story | by Dr. Radut