Why Doesn’t the Government Use Its Mass Surveillance to Bust the Big Criminals … the Banksters?

November 26th, 2013
in Op Ed

by Washington's Blog, Washington's Blog

If the Government Is Going to Spy ... Why Doesn't It Do Something Useful?

The big banks have committed massive crimes and manipulated virtually every market.

The failure to prosecute fraud is preventing a sustainable economic recovery.

As such, prosecuting Wall Street fraud is arguably an issue of national security.

The government is collecting everything ... and spying on just about everything we do.

Follow up:

We are passionately opposed to mass surveillance. But - if the government is doing so - why can't it gather info on the crimes of the big banks ... so we can prosecute them?

You might assume that spying is only used to stop terrorism.

But the government has - in fact - often invoked national security powers in regards to the financial system. For example, Business Week reported on May 23, 2006:

President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations.

Reuters noted in 2010:

U.S. securities regulators originally treated the New York Federal Reserve's bid to keep secret many of the details of the American International Group bailout like a request to protect matters of national security, according to emails obtained by Reuters.

This is especially true given that some of the biggest banks have been caught actively assisting terrorists.

Unfortunately, spying is being used to crush dissent ... and specifically to protect the banks and target those who are trying to hold the banks accountable.

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.

 navigate econintersect.com


Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved