To: President Donald Trump, The United States House of Representatives, and The United States Senate
End the Banking Culture of Impunity: Investigate, Prosecute and Incarcerate
We demand a fully funded, independent and non-partisan prosecutor of high integrity--not beholden to any financial institution under scrutiny--to conduct a comprehensive investigation into the involvement of all United States banks, and foreign banks which do business in the United States, in the London Interbank Borrowing Rate (LIBOR) scandal;
We demand that crimes uncovered during this investigation be prosecuted to the full extent of the law—with no plea bargaining-- and result in incarceration of the CEOs and top executives who bear ultimate responsibility. We will not be satisfied with the prosecution and incarceration of lower echelon employees of said firms.
Why is this important?
We the People grow weary of waiting for justice to be served to the financial institutions who brought our nation to its knees with the 2007-08 economic collapse from which they recovered immediately with our tax bailout money while the people are continuing to lose jobs, homes and savings with no end in sight;
We demand action on the part of Congress and the White House to end the culture of impunity under which the financial institutions continue to operate as evidenced by:
1. The recent $9 billion loss incurred by JPMorgan Chase in the same kind of risky gambling with the People’s money that brought us the Great Recession;
2. The unfolding London Interbank Offered Rate (LIBOR) rigging scandal in which sixteen global banks are alleged to have colluded to set the international interest rate from which flow interest rates for trillions of dollars of loans worldwide, including credit card debt, mortgages, student debt and other indebtedness too numerous to name;
We demand the end of the business-as-usual practice of federal investigations of financial crimes which result in a relatively small fine which the financial institutions simply consider a cost of doing business.