Obama grants legal immunity to criminal banking cartels; ‘too big to fail’ is now #BankLivesMatter

from Natural News:

Five years after the Obama administration and Congress passed “financial reforms” aimed at “reining in” banks once deemed “too big to fail,” three top Democrats are accusing a federal housing authority of quietly changing finance rules in order to shield two recently convicted banks.

As reported by The Intercept, an investigative news web site, the Department of Housing and Urban Development (HUD) has removed a key provision in requirements for taxpayer-guaranteed mortgage insurance so that the banks, which were found guilty of federal crimes, could still participate in the lucrative market.

It’s a clear case of #BankLivesMatter instead of #blacklivesmatter, given that much of HUD’s housing assistance traditionally has gone towards helping minorities.

The Intercept further reported:

HUD’s action is the latest in a series of steps by federal agencies to eliminate real-world consequences for serial financial felons, even as the Obama administration has touted its efforts to hold banks accountable.

Changing the rules to help out friends, donors

That means, essentially, that guilty pleas are meaningless; fines and other discretionary “punishments” may still be meted out, but as far as having any lasting effect or jailing the guilty, neither of these options seem to be in the offing.

Liberal stalwarts Sens. Sherrod Brown of Ohio and Elizabeth Warren of Massachusetts, along with Rep. Maxine Waters of California, have sent a letter to HUD officials noting that they think the timing of the agency’s rule change was aimed at clearing the way for the two big banks recently convicted, JPMorgan Chase and Citigroup, to continue making Federal Housing Administration-insured (FHA) loans.

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