lol! So true… And Ben Carson never answered the question from the moderator from the Presidential debate!
William K. Black
February 15, 2016 Bloomington, MN
The Bank Whistleblowers United announce an early winner of our second Financial Fraud Lemons of the Week award, and it relates to our inaugural winner, the Department of Justice (DOJ) for its lies about the latest humiliating settlement with Morgan Stanley. If DOJ had actually prosecuted the elite Morgan Stanley bankers that led its mortgage fraud epidemic the new winner of our lemons award could not have said what he did about that settlement with a straight face.
Our second financial fraud lemons of the week award goes to Dr. Ben Carson, candidate for the Republican nomination for President in the latest GOP debate. The Wall Street Journal’s Kimberly Strassel asked the following questions of Carson and received this wondrous response.
10:13:14:00 Moving subjects. Dr. Carson. This week Morgan Stanley agreed to pay a $3.2 billion fine to state and federal authorities for contributing to the mortgage crisis. You have a lot of Democrats out saying that we should be jailing more executives. So two questions. Should financial executives be held legally responsible for financial crashes? And do you think fines like these are an effective way to deter companies from future behavior like that?
DR. BEN CARSON:
10:13:43:00 Well, first of all, please go to my website, BenCarson.com, and read my immigration policy. (LAUGHTER) Okay? Because it actually makes sense. Now, the– as– as far as these– fines are concerned, (CLAPPING) you know, here’s the big problem. We’ve got all these government regulators and all they’re doing is running around looking for people to fine. And we’ve got 645 different federal agencies and sub-agencies. Way, way too many. And they don’t have anything else to do.
10:14:14:00 I think what we really need to do is start trimming the regulatory agencies rather than going after the people who are trying to in– (CLAPPING) increase the viability, economic viability, of our society. Now, that doesn’t mean that there aren’t some people out there who are doing bad things.
10:14:33:00 But I’m not sure that the way to solve that problem is by increasing all the regulatory burden. You know, when you consider how much regulations cost us each year, you know, $2 trillion per family. $24,000 for a family. That happens to be the same level as the poverty level (BEEPING) for a family of four. You wanna get rid of poverty? Get rid of all the regulations. (APPLAUSE)