Egregious Fraudster: Introducing Bob Rubin’s Citicorp

New Economic Perspectives has the article Egregious Fraudster: Introducing Bob Rubin’s Citicorp by L. Randall Wray. This article is mostly commentary on The Real News Network interview of Bill Black Who Is the Unsung Hero of the $7 Billion Citigroup Settlement?.

The following quote is from the Wray article quoting Bill Black:

According to Bill,

“This is the latest in the way of embarrassing settlements by the Department of Justice that they’re trying to bill as if they were holding Citicorp accountable… you’ll note that there are no criminal charges in this case against the individuals or against Citicorp. And as a result of all of this, all of the individuals who became wealthy through what the Department of Justice describes as an egregious fraud that was followed by a coverup–in other words, multiple felonies–have not been charged at this point, and, frankly, there’s no indication that they’re about to be charged as well. So the people that committed the frauds get to keep all of the bonuses that were created as a result of those frauds, and it’s another disgraceful moment in the chapter of the Department of Justice….”

All you fans of Hillary Clinton, please remember that Robert Rubin is an example of the type of people who will help fund her campaign for President. He is also indicative of the type of people she is likely to have in her administration. What about this situation do you not understand?

Notice that Bill Black wished his daughter and new son-in-law “Mazel Tov”. If people like Robert Rubin are going to run around and sully the reputation of Jews, then at least I can claim that Bill Black is the type of person who is trying to make up for what Rubin has done.

Perhaps the ethnic background of the names Rubin and Black are less obvious than is the name Greenberg. Perhaps that is the reason why I am particularly angry at the perpetrators of the banking fraud.

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