During Obama’s election campaign, he won hearts when he declared, ""We cannot only have a plan for Wall Street. We must also help Main Street."
Unfortunately three years later, Main Street Americans are still paying a heavy price for Wall Street's insatiable greed. Millions are still out of work, facing foreclosure, and/or have lost their hard-earned savings and retirement funds.
Even so, not one of the Wall Street crooks has gone to jail after breaking laws that lead to a global economic collapse. And none of them will if they succeed in avoiding a fair investigation and prosecution of illegal activity. Ironically, it's the protestors who are getting arrested.
Just as thousands of Americans occupy “Main Street USA” demanding Wall Street accountability, high-ranking officials in the Obama administration are pushing for a deal that would let these giant institutions off the hook.
Not only are the banks “too big to fail,” they’re apparently too big for jail. None of us on Main Street would be let off the hook for committing similar crimes.
There is plenty of evidence of widespread mortgage and foreclosure fraud committed by these massive financial firms. The robo-signing scandal that hit headline news last year is just some of the evidence of illegal activity. Recent congressional hearings, court cases and investigative reporting have uncovered endless examples of shady financial transactions.
In spite of all this, the Obama administration has been pushing the Attorneys General to reach a settlement deal before the evidence has been thoroughly investigated. Essentially, the agreement would offer the banks broad immunity from future prosecution.
Who's pushing for this? Treasury Secretary Timothy Geithner, of course.
Let's take a ride down memory lane to remind ourselves of this guy's history and political ties. Secretary Geithner is the former President of the New York Federal Reserve Bank. He's the one who held Congress hostage over the weekend in October, 2008 for an emergency meeting, begging our elected officials to authorize a bank bail-out “or else the economy would collapse”.
$350 billion of TARP funds were granted to the "too big to fail" banks, and then only a few months later, those same banks were unwilling to share with the public where those funds went. Later we heard about massive insider bonuses.
Bottomline: Geithner works for the banks - but not all banks, just the banks behind the Federal Reserve. That explains why he would be pushing for a back room deal that would protect the big banks, and eliminate any accountability.
The Federal Reserve is often confused as a government institution, but it is not. It's a hybrid. It is a private corporation run by a handful of powerful bankers that have been given the legal authority to print money and control interest rates. In other words, the banks who are "too big to fail" legally control the US and world economies.
US representative, Ron Paul, has been pushing for an audit of the Federal Reserve, but so far has been unsuccessful. That's because he's coming up against the the most powerful people in the world - the ones who have been authorized to print money out of thin air and then charge governments to borrow it from them.
Why would President Obama allow all this to happen when he claims to be running against Wall Street as part of his reelection campaign? Simple: he was put into office by these guys. They are notorious masters of media, which is pretty easy since they own most of the media outlets.
Here's the part that neither Republicans nor Democrats want to hear: our fight against each other is just a tool for central bankers to stay in power. That’s been their strategy since they formed in 1913 - to fund both sides of any war so that the winner becomes indebted to them.
We must come together as Americans, not as a divided nation, if we hope to win the battle against the true “powers that be”.
As long as we are divided, the banksters win.
Kathy Fettke is the CEO of www.RealWealthNetwork.com, a resource for people who are tired of losing money to Wall Street.