Bad Bankers, Bad Fraud Deals, And The President’s ‘Great Gatsby’ Problem


Richard (RJ) Eskow, Op-Ed: 

“Investigate the Banks!” Today a coalition of progressive groups handed in a petition with more than 360,000 signatures that demanded exactly that. It calls on the Obama administration to stop pushing a cushy fraud settlement for bankers, to pursue a fair deal for shafted homeowners, and to let criminal investigations against Wall Street crooks proceed.

Yet White House officials are still aggressively pushing the very same cushy deal on foreclosure fraud that inspired the petition. And just this week the Justice Department declined to prosecute fraudulent bankers once again as it worked to settle another bank fraud case.

Thinking about this relentless pursuit of Wall Street settlements, suddenly the last line of The Great Gatsby —the one about “boats against the current”—came to mind. Bankers are today’s Jay Gatsbys. They’re shady figures who have adopted a veneer of respectability, yet remain relentlessly, ruthlessly, and sometimes illegally self-interested.

And the very kindest way to look at Democrats who flirt with them is to compare them to Gatsby’s old flame Daisy, whose reunion with him ended in disaster.

“He had come a long way to this blue lawn and his dream must have seemed so close that he could hardly fail to grasp it.”

Read the whole article in Nation of Change…