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White-Collar Criminals Have It Better Than Ever Under Trump鈥檚 Soft Policy - YouTube
Channel: The Ring of Fire
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White collar criminals had it pretty good
in this country for the last few decades with
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little to no prosecutions.
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A few paltry fines for some of the worst environmental
financial crimes possible and very little
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oversight.
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But new data tells us that things for corrupt
CEOs and corporations are better than ever
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with white collar punishment hitting a new
low in this country.
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Joining me to talk about this and other big
stories this week is Farron Cousins, editor
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of the National Trial Lawyer Magazine.
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No surprises here.
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I mean I saw this.
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This is about everything we expected, we knew
that Trump, his whole agenda, was to deregulate.
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And one way you deregulate is to let white
collar thugs get away with white collar crimes
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while you go after the people, the have nots.
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That's what this Administration ... If immigration
... we're going to prosecute you ... street
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crime, we're going to prosecute you big time,
but a man with a briefcase can steal millions
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of dollars more than a man with a gun these
days and that's what's happened here, isn't
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it?
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Is it and to be honest you could have replaced
Donald Trump's name there with any of the
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other people who had also run for president
as a republican.
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This is what happens.
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And they're very clear about it, they let
us know and they let these major corporations
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know ... you vote for me, you give me money
to my campaign, I'm going to make sure we
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take it a little bit easier on you.
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I know Obama ... I mean, this is what they
say, he was tough on you, we're going to make
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it easy.
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Obama was not tough on them, to be honest
the biggest shocker of this story was the
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amount of fines that actually were imposed
during those years.
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I never even thought it was that high but
again, nothing but fines.
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Here's the deal, here's the deal.
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So Eric Holder, as AG, we want to say well,
Eric Holder did a better job.
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No, he really didn't do a better job.
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We had Obama come out, he was going to be
the president that changed all this, he was
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going to change our culture by putting white
collar bottom feeding thugs on Wall Street
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in prison for stealing $3 trillion dollars
from our economy after the economic burn down.
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And you remember him running ... I was actually
a commentator on a show where they showed
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him giving a speech and asked for my comment.
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I was delighted.
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I said, well it's time for a president to
finally throw some thugs in prison.
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You know how many were thrown in prison?
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Zero.
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Zero.
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But then, you know, the comparison here is
that Eric Holder fined people more, yeah,
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it was inconsequential fines, but at least
he fined somebody.
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Here, just the opposite is happening.
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I mean the numbers we'll put up on the screen
and show you.
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The EPA down 94% on violations that the Sessions'
Administration has identified.
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DOJ down 90%.
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FCC down 85%.
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Goes on and on.
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What's your take?
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I mean look, the EPA is especially troubling
at this point because yes, we've got these
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horrible bankers out there, we've got the
horrible people with the FCC, but these environmental
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crimes that are not being punished, these
are things that you feel the effects of for
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generations.
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Right.
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I mean we've got this massive coal ash pond
in North Carolina right now that has absolutely
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flooded, broken through.
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You've got coal ash that's about to seep down
into the aquifer.
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That's going to poison people for decades.
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This story bothered me a little bit because
there were no comparisons between what's happening
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now and what happened under Obama.
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They identify that the DOJ failed to prosecute
banks for none other than laundering money
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for terrorists.
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Well, what did we see with the Obama Administration?
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They paid a billion dollars, HSBC paid a billion
dollar plus fine where they actually had a
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document where they admitted item by item,
it was a two page document, where they admitted
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yes, we broke this law, even concluding that
it may have cost American lives.
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So they go through this litany of all the
crimes that they had violated and said oh,
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well we're sorry, we'll pay a billion dollars
... the numbers that were calculated were
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well in excess of $120 billion dollars that
this same bank made by the same kind of conduct.
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Well what's also disgusting out of this story
is that we're finding out now that people
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who report these corporations for fraud and
abuse against the government, they're actually
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not even finding them as often anymore.
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They're cracking down on these whistle blowers
who come forward and say hey, this big bank
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is ripping off the government, this contractor
is providing you with shoddy service or products
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when you're paying them billions of dollars.
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They're taking the side of the corporation
who's ripping them off instead of the whistle
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blower now.
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This is how they're doing it.
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It used to be an agency would give guidelines.
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They would say here are the guidelines that
we expect to be put in place with the FCC,
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the EPA, the ... whatever ... Here are the
guidelines, if you violate the guidelines
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you've broken the law and that's how whistle
blower cases actually originated.
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You'd have the guidelines, you'd show that
the corporation was ripping off consumers
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to the billions of dollars, actually affecting
peoples' lives in the way they rip things
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off and here's the guidelines and they said
well, we violated the guidelines, you could
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bring a whistle blower case.
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It's made it very difficult to do that right
now.
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