US Does Not Need to Jail Wall Street Bankers: Remove the System Instead
By Daily Bell Staff - September 16, 2016

Warren: Next Administration Should Probe, Maybe Jail Wall Street Bankers … In trying to reopen the investigation, she’s telegraphing her new Senate tactics—and sending a message to Hillary Clinton. -Bloomberg

Warren wants to jail Wall Street bankers but she should apply her energy and eloquence to getting rid of the monopoly Fed and judicial decisions that prop up corporate America.

Without the abusive and deadly power of multinationals, the corporate catastrophes that Warren regularly cites would disappear, probably more quickly than one might expect. The current ruinously corrupt system is propped up by state force and state wealth.

As a firebrand of the left, concerned about people’s welfare and resources, she should surely see that the US’s impoverishment comes from endless over-printing of money and the consolidation of titanic multinationals that would not exist without Supreme Court decisions creating them.

Modern corporate abuses are especially evident in the monopolies they create, the entrepreneurial vitality they eradicate, the poor salaries they pay and the abusive government policies they support. Oftentimes, the oppression created by the government-corporate complex can turn deadly.

The East India company is a good example of how corporate giganticism leads to catastrophic abuse. It was a private enterprise authorized by the state that even had its own army. In other words it was a fascist entity that derived its efficiency from the marketplace and its power from the Crown.

The Great Bengal Famine of 1770 was a famine in India that reportedly starved to death some 10 million people. The East India Company is widely held responsible for it – that’s just one example of how the East India Company wielded power.

Thomas Jefferson and other US founders were so concerned about corporate tyranny that they gave authority over corporations to the states. And until the Civil War, corporations were rarely formed and hardly ever of a significant size.

But today’s corporations have the same kinds of personalities and freedoms as the East India Company that so abused the world and scarred the generations of Jefferson’s time.

Today, it is not so different in terms of the hybrid power that corporations possess. The huge size of corporations comes from corporate person-hood, intellectual property rights and monopoly fiat money from central banks.

These “rights” are enforced by the Supreme Court and other courts around the  world. But there is no reason to attribute personalities to inanimate objects. There is no reason for society to enforce intellectual property rights. If people want to retain “rights” to their “property” they should do so on their own without government taxpayers doing it for them.

Certainly, monopoly central banks should not exist, nor should a priority of place belong to multinationals that are supported by monopoly central banks in bad times and the recipient of an overabundance of currency in the good times.


Massachusetts Senator Elizabeth Warren is [making] a new push to investigate—and potentially jail—more than two dozen individuals and corporations who were referred to the Justice Department for possible criminal prosecution in 2011 by the Financial Crisis Inquiry Commission, a government-appointed group that investigated the roots of the 2008 financial crisis.

None was ever prosecuted. The names of the referrals—including former Treasury Secretary Robert E. Rubin, who held a top job at Citigroup, and Citigroup’s former CEO, Charles Prince—became public earlier this year when the National Archives released new documents.

Where are the names of Alan Greenspan, Janet Yellen or Ben Bernanke? And how about the bankers who live overseas in the City or the top heads of intel and military entities that enforce the modern sociopolitical construct as it is. From a larger perspective, advocating for the punishment of select executives, no matter how powerful, only blurs the reality of what needs to be done. The problems with the US have everything to do with the system itself and the tens of thousands of people who wield its power. Change the system, eradicate the authoritarianism and the phony money that supports it, and you will set millions – billions – free.

Setting free billions is surely more important than putting 20 people in jail. If Warren really wants to focus on incarceration, then in addition to what’s been mentioned, she should advocate for the arrest of the Supreme Court and the entire Federal Reserve Board and its supporting entities. Congress, too, should probably be in prison along with most of the executive branch and the regulatory facilities that enforce the authoritarian rules that have built fascist America and doomed tens of millions overseas to poverty and death via oppressive serial wars for mostly political reasons.

Yes, it is fashionable to argue that powerful corporate and Wall Street heads ought to go to jail. And even sometimes that certain government officials ought to accompany them there. But this sort of rhetoric obscures the US’s fundamental problem, which is that systems have been put into place that have erected a kind of national socialism that is getting worse and worse. In other words, the effort is mostly being focused in the wrong direction.

An argument can be made that anything that takes attention away from what really needs to be done is counterproductive. By focusing on “bad” men who are “abusing” power, Warren is distracting the American public from the reality of the momentous changes that need to occur, and sooner rather than later.

Sadly, were persuasive and committed individuals like Warren actually to focus on the abusive and increasingly deadly authoritarianism of the US, and the real reasons for it, people would begin to understand it quickly. An uproar would commence and changes actually might happen.

Conclusion: Such changes would be far more momentous than just incarcerating individuals (no matter how powerful) with the purpose of impressing the American public with the ability of the US government to act in a punitive way.  As Warren claims to be partially Indian, perhaps she could try to motivate Native Americans to agitate even more committedly for change as well.

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  • stevor

    and where is the association of the banksters to shillary mentioned?

    • We have to do that every article?

      • stevor

        if it’s needed to be fair. Don’t you like fair?

        • mary

          TROLL ALERT.

          Fair? You are claiming that DB isn’t fair to the most corrupt candidate ever to run for office in the US–a murderer, destroyer of whole countries, scam artist, warmonger, liar… WTF? Don’t you read?

          All I can say is you are willfully ignorant or a gov’t paid TROLL.

          • stevor

            you’re a NUT.
            What I’m saying that when talking of (properly) throwing the banksters in prison, the matter of shillary (and o’bama previously) getting millions from those same banksters ought to be delved into, showing how complicit both are with CRIMINALS

  • Dimitri Ledkovsky

    Warren’s ideal scenario is perhaps similar to that of St. Petersburg in the spring of 1917 when armed Revolutionary Cadres (thuggish gangs) owned the streets and arrested anybody who fit the profile of “intelligentsia”, “monarchist”, “religious agitator”, etc. Thousand were detained in the daily sweeps. Hundreds were summarily executed. The new penal colonies in Siberia filled up fast. – It seems that Warren would experience a “mission accomplished” glow if she could deliver this to her electorate.

    • Carl McWilliams

      Well said Dimitri.

  • you are on a very tough gig trying to accomplish this,
    the internet will help in this task, but…..

    arch atlanticists such as Niall Ferguson,
    a great admirer of the corporation and
    East India Co will not go quietly into the night

    good luck with your objectives and I will help wherever
    I can

    • Wade House

      The Battle will be tough but not unwinnable. Earn Nest has far more friends and allies than many know and many more are coming.

      The 1st thing is to let people know in real numbers, just how outrageous the system is that the Fed and all banks operate under.

      The numbers are so large now, I believe they can wake the dead~!

      And if we believe in luck, hope or wishes, we will go nowhere. I don’t believe in that stuff.

      Research, common sense, bravery and action. Let’s rock and roll!
      It won’t happen overnight…but in 4 years, if we keep pounding on the subject and things get worse…who knows. 🙂

  • Earn nest

    I remember in the mid seventies when I was asked whether I’d prefer big government or big corporatism. Yes or no you understand. I decided that neither so today I have both eh? END THE FED!!!

    • Wade House

      END THE FED!!! or End Fractional Reserve Banking? One is a Symptom and the other is a Main Cause. I’m with you Bro, no love for the Fed here!

  • Samarami

    “…monopoly central banks should not exist…”

    Duh!!! (<== classic ignorant one-liner so prevalent these days on the web, I just couldn't resist. Sorry)


    • But we’ve been promoting it for two decades.

      • Samarami

        And I truly apologize if my silliness made it sound as if I questioned that — I do not. Thanks, DB. Sam

      • SPQRUSA

        Try over 100 years…

  • Silly argument. It’s not an “either/or” question. Both should be done. Jail and change the laws.

    PS. the present laws aren’t being enforced, so changing the laws without enforcing the existing laws is like gilding a dead lily.

  • disqus_QZX8ENhLyb

    In a truly-free society, an EXIMCOGOVFOR [EXternally-IMposed COercive GOVernment FORce] would not exist. People can co-operatively solve their own problems, shun and drive-out the very few sociopathic outlaw-thugs who will remain. Laissez-faire! Leave us alone.

    Even in today’s repressive environment, we should limit government to
    thwarting crimes such as: FRAUD, THEFT, EXTORTION, and unprovoked,
    violent, PHYSICAL AGGRESSION. Government has no business regulating business. Their only legitimate job is to thwart crime.

    Stop supporting government thefts, intimidations, killings, and wars. Stop supporting the psychopathic sociopathic criminals called politicians. Vote “NONE OF THE ABOVE !” Grow up and take control of your own life. Tell ’em to leave you alone, you’ll provide for yourself. Read BILL KAUFFMAN

    Kauffman, Bill (2012-09-14) My Pen Pal Gore Vidal, The American Conservative

    Doherty, Brian, 40 Years of Free Minds and Free Markets: An oral history of reason, Reason (December 2008)

    Kauffman, Bill (2008-05-18) You Say You Want a Revolution?, Taki’s Magazine

    Vance, Laurence (2006-12-04) Bill Kauffman: American Anarchist,

    Dreher, Rod (2006-06-05) All-American Anarchists, The American Conservative

    Kauffman, Bill (2005-12-19) Free Vermont, The American Conservative

    Kauffman, Bill (2006-01-30) Come Home, America, The American Conservative

    Kauffman, Bill The Way of Love: Dorothy Day and the American Right, Whole Earth (Summer 2000)

    Kauffman, Bill (2004-09-27) Heil to the Chief, The American Conservative

    Who’s Getting Your Vote?, Reason

    Kauffman, Bill (2009-04-20) The Republic Strikes Back, The American Conservative

    Bill Kauffman at the Rally for the Republic

  • DrDean

    What not who :).

  • alohajim

    Elizabeth Warren wants to take away the banker’s exlusive right to create currency from nothing and ‘give’ that right to the government. Such insanity only sees the light of day because of the great number of ignorant, brainwashed, trusting, citizens that have been taught not to think for themselves, but simply absorb what is being shown on TV and print media and taught in the schools.

    The MO that DB outs is clearly in play and plays quite well to people who have not yet woken up to the reality of our world. Throwing a few very high profile puppets under the bus is supposed to fix everything by ‘cleaning up’ corruption and fraud within the system.

    These are pathetic, last ditch attempts to salvage and extend the bankers system of legalized plunder. Of the hundreds of thousands (millions?) of puppets and minions who run and operate the world on behalf of our banker family owners there are two types : those that fully understand who they are serving and those who don’t. Both worked hard to arrive at positions of power and control in corporate/government/academia/media. They might reason that the world is indeed a giant shitshow, but they didn’t create it and as they see the corruption, evil, and plunder all around them might try to justify it by thinking that what is the alternative – quit your priveledged position and be homeless and broke?

    Much much worse than any puppet glad to be well paid for doing their part to run the bankers system are those people who are tasked to shape the public’s thinking on it.
    Enter Elizabeth Warren, a smart lawyer seemingly independent from the system, ie. not an obvious puppet or minion working from within, shamelessly shilling for extending the bankers system of tyranny and plunder. Who thinks she doesn’t know that bankers control governments?

  • What does Warren have to say about WTC7 falling down?

  • The endless over-printing of socialist money is a problem. Modern socialist abuses are especially evident in the monopolies that socialists create, the entrepreneurial vitality they eradicate, the poor salaries they pay and the abusive government policies they support. Oftentimes, the oppression created by the government-socialism complex can turn deadly.

    The socialists Stalin, Mao, and Hitler are examples of how socialist giganticism leads to catastrophic abuse. It was socialism authorized by the state that derived its inefficiency from the socialism. The Great Famines of history were famines of socialism under the socialists Stalin and Mao.

  • Steve

    Regarding the central bankers and their fiat money, prison is counterproductive, we need true restitution, true disgorgement of all criminal booty, which also requires an end to the limited liability scam. That would be a good beginning, but still does not address the need for total exposure and humiliation for the crimes of the wicked who perpetuated a wicked system.

    I am reminded of the line from Braveheart: “…stopping at every home you pass by to beg forgiveness for a hundred years of theft, rape, and murder. Do that and your men shall live.”

    To end one system a new system must be instituted. When people are free to choose what ever form of money their neighbors will agree to in voluntary exchange, they will have at last vanquished the evil genie conjured by the authoritarians, that has vexed our species since civilization was first corrupted: authoritarian control of money.

  • Ernie Hopkins

    Excellent piece!!!!!!!


    The so-called “left” and “right” or UniParty wing of the UN, which includes Warren, will never jail the banksters. They cannot bite the hand that feeds them…

  • bilejones

    “US Does Not Need to Jail Wall Street Bankers”
    Criminals on that scale should always be jailed.

    Then destroy the system.

  • TimeToWakeUPAmerica

    Visit, and read this:

    “A Secret Society gradually absorbing the wealth of the world”

    Listen to episode #15 of ARK MIDNIGHT (570 AM Radio, Dallas, Texas with John B. Wells of CARAVAN TO MIDNIGHT (Internet site) ~ which should be posted to youtube sometime tomorrow (9/18/2016). It’s a two-hour show, and John B. Wells interviews CHARLES SAVOIE of, about the Pilgrims Society of Great Britain (est. 1902) and the Pilgrims Society of the United States (est. 1903) ~ “A Secret Society gradually absorbing the wealth of the world”

    • Mstrjack
      Royalty, Politicians, CEOs, & Military members only club.

      Don’t jail them. Prisons are barbaric. Just strip them of power and let people live.

  • Angie Wolken

    Just think of all the asset forfeiture arresting the bankers would generate.

  • John

    Obama, Warren & The Democrats Ran On Prosecuting Wall Street & The Banksters For Fraud & Corruption Back In 08 & Now They Want the Next Administration to Prosecute Them – We Have A Corrupt & Criminal 2 Party System In Bed With The Too Big Too Jail Corporations As They All Get Filthy Rich – Emphasis On The Filthy.

  • The problem and/or opportunity for the Fed and Uncle Sam, Wall Street and Main Street is very much the same as that for systems and administrations collapsing across the pond in Great Britain and further afield in Europe.

    If the UK’s newly minted National Cyber Security Centre is invented to maintain and retain and protect traditional established organisations/agencies/corporations, which one can easily accept have gone renegade rogue and self-serving, rather than servering the masses admirably and to a greater good, then will they be targeted relentlessly with information and intelligence they will be forced to suppress and try to deny all knowledge of rather than admit to accepting and ignoring. Such though will be a monumental folly which will lead to a place full of endless pain and destruction for them and their allies.

    Let us hope that they be of an independent and creative mind with systems protecting administrations from the harm caused by internal rogue executive classes which have more akin to international criminal enterprises than being clearly seen to be aiding and abetting them in the many new virtual fields of profitable private pirate endeavour now floating themselves to markets out there in the ether.

    More of the same old stuff and nonsense is no longer going to cut it and be accepted as acceptable and inevitable.

  • Wade House

    I agree with the DB, the Corporate System badly needs to be Re-Overhauled, and jailing any scapegoats won’t solve anything, period.

    But the MAIN SYSTEM that needs to be ENDED to save America, the American Dollar and the World…is the Fractional Reserve Banking System.

    AMERICA 2015: 501,000 homes sold for an avg. price of $360,000, for a total of 180 Trillion Dollars. Under the Fractional Reserve System, Banks can LOAN OUT/Create 9X times that amount or $1.62 QUADRILLION DOLLARS.

    That’s $1.62 Quadrillion $1,620,000,000,000, out of thin air! Oh we’re not done yet. Add to that;
    17.5 Mil. autos sold at an avg. price of $33,000 = $561 Bil. X 9 = 5.49 Tril.
    4 Tril. U.S. Gov’t Budget – borrowed from Bank/Fed X 9 = 39 Tril.

    That totals $44.49 Trillion added to the $1.62 Quadrillion, which brings the Yearly Total to $2.07 Quadrillion U.S. Dollars added to the Money Supply.

    This doesn’t include Bank Loans to Wall Street, or U.S. overseas banking Loan totals. Maybe the DB could help me with that. 🙂

    When it comes to Inflation, Hyper-Inflation and the destruction of the U.S. Dollar, I see a more than clear Culprit, and it’s name is; The Fractional Reserve Banking System.

    It’s unraveling starts TODAY!

  • JohnnyZ

    It is good to awaken the people to some good first steps. But these remain “wishful thinking” or utopian currently. Because real power hides at deeper levels of the “deep state” – networks of oligarchs, secret societies, etc. that permeate all layers of society. We have a system of “fraud enforced by monopoly of violence (or death control systems)”, refined over hundreds (or more) of years, as one internet user likes to say. I think when people follow this latter thread deeper, then we have a chance to hold even the roots accountable and thus achieve the first step realistically. What we can get right now instead is the BIS replacing the Fed (order out of chaos)

    • Wade House

      Everything that is known, everything that has been known, everything that will be known, all started with a single “thought” or “wishful thinking”.

      There is no problem with “wishful thinking” as long as you don’t depend on it to accomplish a goal. I never do!

      The problem is those who depend on Hope, Wishing or Luck to make things better or create change.

      The opposition is as deep as you say and even deeper. But so far, I don’t see them or the system as undefeatable.

      Change is already happening around all of us. Noticeable change that even you have seen, you just didn’t know it.

      Cleaner skies, lower gas prices, less drought world-wide, including America and other things just as big, but easier to hide from an unaware public.

      There are no accidents. I for one am perfectly happy with this world today.
      It gives me something to live for in watching it change for the better, and being among those bringing the change.

      • JohnnyZ

        My impression is the opposite. I think (and see) this world going exponentially more crazy with the biggest debt Ponzi scheme of all times, with government control (and % of GDP) up 10x over 100 years and the grip of the police state almost perfected. I see that the globalists are so confident of their utter control that they do not make serious efforts to hide themselves, their tracks or their plans anymore. This is potentially their weakness. But we mostly likely became aware of all this because they (deliberately?) let it slip away. Positive thinking is generally beneficial when one has some type of control of a situation. But I have never seen it work regarding large and diverse groups of people. I see the only way that true change can come via human awakening (but there are too many aspects to it – e.g. be aware of psychopaths, do not let the state do what people can do themselves (almost everything), representative democracy works only on small scales, etc.) Good luck though!

  • dsaulw

    With respect to the medical-industrial complex, one of the largest components of the U.S. economy, IP is an important driver, but you are missing another vital factor: licensing.

    Licensing of health care professionals, medical schools, therapeutics, hospitals (and so forth) has been instrumental in giving allopathic medicine its stranglehold on our medical system and in allowing for its runaway costs.

  • Pablo

    “From a larger perspective, advocating for the punishment of select executives, no matter how powerful, only blurs the reality of what needs to be done.” True enough. The System is in need of being obliterated, but why stop there? NO!! The “select executives” need to pay for their financial crimes, just like anyone else would who commits crimes. There is a powerful need to reinforce System reform with negative consequences for previous financial misdeeds. Interesting fact: in the US at one time, counterfeiting was a Death Penalty offense! Financial crimes, financial piracy are serious crimes and should be punished accordingly.