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Obama Talks Tough On Wall Street Crime - YouTube
Channel: The Young Turks
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>> GUESS WHAT?
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AS BARACK OBAMA
IS RUNNING OUT OF TIME IN HIS
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PRESIDENCY, HIS JUSTICE
DEPARTMENT HAS DECIDED, OH YEAH,
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SHOOT, MAYBE WE SHOULD HAVE
PROSECUTED SOME OF THOSE
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WHITE-COLLAR CRIMINALS.
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THE WALL
STREET GUYS WHO TOOK BILLIONS
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AND PUT THEM IN THEIR POCKET,
THEN WE REFUNDED THEM AND THEY
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COMMITTED OBVIOUS, OBVIOUS
FRAUD, IT IS IN THE EMAILS WHERE
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THEY SAY WE WILL SCREW OVER OUR
CUSTOMERS -- THESE ARE TOXIC
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PRODUCTS THAT WE ARE PUTTING
TOGETHER.
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OOPS?
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WHAT DID OBAMA
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SAY, WE DON'T LOOK BACKWARD, WE
LOOK FORWARD.
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EVERY TIME, I
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PAUSE AND LAUGH.
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IMAGINE A
PROSECUTOR, YOU SAY I ROBBED A
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BANK, THE PROSECUTOR SAYS GOOD
DAY FOR YOU, I DON'T LOOK
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BACKWARD, ONLY FORWARD.
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THAT IS
WHAT THEY SAID WHEN IT CAME TO
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REAL BANKERS.
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THE GUYS WHO STOLE
THE MOST.
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TODAY THEY CHANGE
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THEIR TUNE WHICH IS GOOD NEWS, A
LITTLE TOO LITTLE TOO LATE,
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BECAUSE A LOT OF THE STATUTE OF
LIMITATIONS HAS RUN OUT.
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CONVENIENTLY WE CAN'T PROSECUTE
THEM ANYMORE, NOW THEY CHANGE
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THEIR TUNE.
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BUT IF THEY MEAN IT
I WILL TAKE IT, SO DEPUTY
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ATTORNEY GENERAL SALLY YATES
SAYS THEY JUST DISCOVERED,
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"CRIME IS CRIME."
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YOU DON'T SAY.
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AFTER THE STATUTE OF LIMITATIONS
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RUNS OUT AND YOU CAN'T PROSECUTE
ANY OF THOSE GUYS, NOW YOU
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REALIZE CRIME IS CRIME?
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BUT
AGAIN IF THEY MEAN IT GOING
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FORWARD I WOULD LOVE IT, BUT IT
IS LIKE OBAMA SAYING, THE NEXT
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PRESIDENT SHOULD REALLY GET
TOUGH ON THESE GUYS.
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ARE YOU
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READY TO GET TOUGH?
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THEY WILL
NOT DO IT.
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I AM TRYING TO GIVE
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THEM CREDIT BUT I DON'T BELIEVE
THEM BECAUSE THEY HAVE A HISTORY
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OF NOT DOING IT.
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AND IT'S ALWAYS
ON THE WAY OUT, NOW WE ARE
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TOUGH.
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WHEN IT DOESN'T MATTER
ANYMORE, WE ARE TOUGH.
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SALLY
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YATES CONTINUES, IT IS OUR
OBLIGATION AT THE JUSTICE
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DEPARTMENT TO ENSURE WE ARE
HOLDING LAWBREAKERS ACCOUNTABLE
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TO GOVERNANCE WHETHER THEY COMMIT
CRIMES ON THE STREET CORNER OR
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THE BOARDROOM.
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I AM GLAD YOU
REALIZE THAT, ISN'T IT AMAZING
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SHE HAS TO CLARIFY THAT SIX
YEARS INTO OBAMA'S TERM?
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OF
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COURSE BUSH DID NOT PROSECUTE
THEM, OBAMA DIDN'T -- WHERE DID
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A LOT OF THE FUNDING FOR BUSH
AND OBAMA COME FROM?
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RIGHT, THE
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SAME BANKERS.
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WILD COINCIDENCE.
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SHE CONTINUES, IN THE
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WHITE-COLLAR CONTEXT THAT MEANS
PURSUING NOT JUST CORPORATE
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ENTITIES BUT ALSO THE INDIVIDUALS
TO WHICH THESE CORPORATIONS ACT.
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THIS IS WHAT WE HAVE BEEN SAYING
ALL ALONG, HOLD THE
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CORPORATION RESPONSIBLE.
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SO WHO
IS GOING TO JAIL?
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NOBODY.
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THEY
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WILL PAY FINE AND MOVE ON.
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THAT
WILL NOT WORK, THEY SAY CHANGE
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CORPORATE CULTURE TO
APPROPRIATELY RECOGNIZE THE FULL
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COST OF WRONGDOING RATHER THAN
TREATING LIABILITY AS A COST OF
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DOING BUSINESS.
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THAT IS EXACTLY
WHAT EVERY PROGRESSIVE IN THE
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COUNTRY HAS BEEN SAYING, EVEN
BEFORE THE CRASH AND CERTAINLY
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AFTER THE 2008 CRASH.
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KRUGMAN,
STIGLITZ, YOU NAME IT, EVERYONE
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SAID IF YOU DON'T HOLD THEM
ACCOUNTABLE THEY WILL DO IT
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AGAIN.
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IT IS JUST A SMALL
FRACTION OF THE MONEY THEY STOLE
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THE FIRST PLACE, THEY PAY THE
FINE AND MOVE ON WITH THEIR
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LIVES.
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OH, THE CORPORATION NOW
HAS A CRIMINAL RECORD.
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WHAT DOES
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THAT MEAN?
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NOTHING.
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IT DOES NOT
AFFECT A GODDAMN THING.
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YATES
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SAID THAT THE COMPANIES, AND BY
THE WAY THEY NEVER ALMOST WENT
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AFTER THE COMPANIES IN THE FIRST
PLACE, THEY ALMOST ALWAYS PLED
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OUT, COMPANIES GET TO BUY OFF
POLITICIANS BECAUSE THEY CLAIM
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TO BE HUMAN BEINGS BUT IF THEY
ARE PROSECUTED AND FOUND
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CRIMINALLY LIABLE, IF THEY EVER
WERE, DO THEY GO TO JAIL LIKE A
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HUMAN BEING?
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OF COURSE NOT.
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NOW
FINALLY THE OBAMA
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ADMINISTRATION HAS THE GENIUS
IDEA, WE MIGHT WANT TO PUT THE
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GUYS WHO ACTUALLY DID THIS
STEALING TO ACTUAL HUMAN BEINGS
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IN JAIL FOR THEFT.
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YOU DON'T
SAY.
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YATES SAID COMPANIES WOULD
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NOT GET CREDIT FOR COOPERATING
WITH INVESTIGATORS UNLESS THEY
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IDENTIFY ALL EMPLOYEES
RESPONSIBLE FOR CRIMES
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REGARDLESS OF EXECUTIVE RANK OR
SENIORITY AND TURN OVER ALL
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EVIDENCE AGAINST THEM.
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IF THAT
WERE TRUE, I WOULD LOVE IT.
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FINALLY, CIVIL AND CRIMINAL
ATTORNEYS BOTH SHOULD FOCUS ON
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INDIVIDUALS FROM THE BEGINNING
OF AN INVESTIGATION, THE MEMO
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SAID.
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THIS IS A NEW POLICY FOR
THE OBAMA ADMINISTRATION.
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I
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WANT TO GIVE THEM CREDIT BECAUSE
THIS POLICY IS THE CORRECT
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POLICY, AND IT IS SUPER OBVIOUS.
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BUT I CAN'T IN GOOD CONSCIENCE
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TELL YOU THAT THEY ARE DOING THE
RIGHT THING, BECAUSE THEY DID
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NOT DO THE RIGHT THING WHEN IT
MATTERED, AND NOW WHEN THEY
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CAN'T PROSECUTE THE PEOPLE WHO
DID IT IN THE PAST ANYMORE, THEY
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SAY THIS WHEN THEY THINK IT
REALLY WON'T COME UP GOING
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FORWARD.
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IT IS A LITTLE HARD TO
BELIEVE THEY MEANT IT IN THE
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FIRST PLACE.
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I HOPE THE POLICY
STICKS, BUT DO YOU REALLY
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BELIEVE THAT IF GIANT DONORS
WERE DOING THE SAME THING
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AND CRASHING THE ECONOMY, YOU
WOULDN'T GET THE TIMOTHY
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GEITHNERS ON THE DEMOCRAT SIDE
AND THE HANK PAULSONS ON THE
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REPUBLICAN SAYING THERE IS
NOTHING THAT COULD BE DONE, WE
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MUST DO A BAILOUT TO MAKE SURE
THE ECONOMY DOESN'T EXPLODE, AND
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IF YOU PUT THE BANKERS IN JAIL
IT WOULD JEOPARDIZE THE BANKS,
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WHICH WOULD JEOPARDIZE OUR
OVERALL ECONOMY?
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ATTORNEY
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GENERAL ERIC HOLDER SAID THAT.
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HE SAID THERE WILL BE
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CONSEQUENCES, THAT IS WHY WE
CAN'T PUT THE BANKERS IN JAIL.
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HE ADMITTED IT IN CONGRESS, AND
NOW HE LEAVES AND THEY SAY SURE,
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THAT IS WHAT WE MEANT TO DO FROM
THE GET-GO?
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YOU HAD A FUNNY WAY
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OF SHOWING IT.
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GOOD POLICY, BUT
MY FINAL CONCLUSION IS, TOO
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LITTLE TOO LATE.
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AND I WOULD BE
SHOCKED IF IT STUCK AND THEY
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ACTUALLY MEANT IT.
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OUR ENTIRE
SYSTEM IS CORRUPT, AND THIS IS
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HOW THE CORRUPTION WORKS.
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AFTER
THEY DO ALL THE CRIMES, AND THEY
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GET AWAY WITH IT, THIS IS
BASICALLY THE COVER-UP.
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YOUNG TURKS.
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