Eight billion dollars is a lot of money, but a small price to pay to stay out of jail. As the New York Times reports today, corporations are on track to pay as much as $8 billion in fraud settlements this year to the U.S. government. That includes military contractors, banks, and pharmaceutical companies who systematically defrauded American taxpayers. The $8 billion they own is double the amount paid out in settlements last year – and an all-time record high.
But the important story is, despite the multiple acts of blatant fraud by corporate America resulting in record settlements – almost never does an executive go to prison. Pharmaceutical companies like GlaxoSmithKline and Merck and defense contractors like ATK Launch Systems admitted to stealing tens of millions of dollars from taxpayers, yet not one CEO is facing criminal charges. Of course, if you or I walked into a 7-11 and stole a two-dollar Slurpee, we’re going to jail. But in America’s two-tiered justice system – the corporate elite are untouchable.
Listen to me Monday through Friday 3 PM to 6 PM on WWRL 1600.
Republicans in the U.S. House of Representatives have made their point – they hate Obamacare. And, just in case anyone didn't get the message the first 36 times they made that point, they're about to waste even more taxpayer...
It turns out the IRS was investigating conservative organizations seeking tax-exempt status. Duh! And the TSA has been looking at people seeking to get on airplanes. None of the conservative organizations that the IRS was "targeting" were...
The Associated Press has accused the Justice Department of "massive and unprecedented intrusion." That's according to one of the AP's top executives, after learning that the government secretly acquired two months of the news...
It seems that the Republicans won't stop until their attacks over Benghazi are as vicious as the attack in Benghazi. The Republicans would have you believe that the Obama administration altered the talking points on Benghazi out of political...
According to the U.S. Supreme Court, Monsanto has the right to control our food supply. In a unanimous ruling released this morning, the nine Justices sided with the agricultural giant, and held that an Indiana farmer violated Monsanto's...
Yesterday, Republicans in the U.S. House of Representatives postponed all floor votes so they could hold their ninth hearing about Benghazi. Instead of working on any number of pressing issues effecting Americans, Republicans spent nine...
Oh, you crazy Americans! Here you are, obsessed with guns, thinking you need them to stop some leering thug from invading your home and taking everything you have. Truth be told, you don't have to worry about that nearly as much as, say, 20...
Now the abducted women are back with their families. Maybe now people will stop thinking of Cleveland as the butt of jokes and start thinking of it as a really weird and creepy place. This is a story straight out of… wow, I don't think...
Treasury Secretary Jack Lew appears to have the right ideas. But, it doesn't seem like any of our elected leaders are listening. On Monday, Secretary Lew sent letters to members of the House financial services committee, urging them to...
Last year, five major U.S. Banks and 49 state attorneys general agreed on a $25 billion settlement to compensate victims of abusive bank practices and foreclosure fraud. But, according to New York Attorney General Eric Schneiderman, the...
