Lest We Forget the Banks & Financial Institutions Caused the Great Recession

What Congress Allowed the Banks and Financial Institutions Do to the People

In 2008, prior to President O’Bama’s election, the financial meltdown had already been in full swing. According to the Federal Reserve, one of the key reasons for the Great Recession was due to ‘credit default swaps’ and other exotic financial products. (Are you like me and have no clue what credit default swaps are or do? And like me is the Federal Reserve kind of like the invisible Wizard of Oz standing behind the curtain pulling all the strings?)

Well, Apparently the FED didn’t understand credit default swaps either and was predicting no concerns of a recession literally months before the collapse. From the ashes of banks creating fake accounts, illegally robo signing mortgages, to ripping off our soldiers on payday loans..

There is a reason the Consumer Financial Protection Bureau was created.

The mission of the CFPA:

“The Consumer Financial Protection Bureau is a 21st century agency that implements and enforces Federal consumer financial law and ensures that markets for consumer financial products are transparent, fair, and competitive.”

The CFPB is a watchdog and does oversight on behalf of the People to protect us from illegal financial actions and fraud. At least it did.

The headlines below come from a 140 page PDF that simply lists various articles I collected in 2010–2014 about fines and penalties that companies paid, most of which are banks and financial institutions. You tell me if we need protection.

Here’ s the link: https://drive.google.com/file/d/1BoFYhgmW0eCFrDHo0KbwJTFX7_083j7d/view?usp=sharing

HEADLINES OF THE ARTICLES

Science Confirms: The Fed Was Clueless About The Financial Crisis

Market Highs Prompt Main Street to Forget About JPMorgan and SAC Scandals

JPMorgan’s $5 Billion Mortgage Deal Will Not End Its Troubles

JPMorgan Reaches Tentative $13 Billion Settlement With Justice Department: WSJ

U.S. to put SAC hedge fund out of business over insider trading

JPMorgan To Pay $100 Million To Settle ‘London Whale’ Charges With CFTC: Reports

Secret Fed Loans Gave Banks Undisclosed $13B

Loans To Soldiers

Congressional Insider Trading: Story Finally Sticks

Judge OKs $410M settlement for Bank of America

Thirty companies paid no income tax 2008–2010: report

GlaxoSmithKline in $3 billion settlement with US

Judges Are for Sale — and Special Interests Are Buying

Citigroup paying $285 million to settle civil fraud charges over complex mortgage investments

Banks Took $6B in Reinsurance Kickbacks, Investigators Say

JPMorgan to Pay $88 Million for Violating US Sanctions

Is the SEC Covering Up Wall Street Crimes?

U.S. Chamber Of Commerce Battles Anti-Bribery Statute

AXA Rosenberg paying $242M to settle case on code

21 airlines fined for fixing passenger, cargo fees

Regulators shut down bank in Illinois; makes 26 US bank failures in 2011

In Financial Crisis, No Prosecutions of Top Figures

BofA $410 million overdraft settlement wins court OK

JPMorgan Settles Claims Of Using High-Pressure Tactics On Customers

JPMorgan to pay $153.6M to settle fraud charges

Bank of America in $8.5B mortgage settlement

Wells Fargo Illegally Pushed Borrowers Into Subprime Mortgages, Falsified Loan Documents, Fed Says

US fines Bridgestone $28 million for corrupt deals