I have zero problem with capitalism. Crony capitalism is a different matter and needs to be stamped out. There should be no barriers to entry for someone with a good idea and no person or corporation should be allowed a monopoly on their area of business.
Glad to see that there is one branch of this government that feels the same way.
From The Washington Post:
SIGTARP proves that some bankers aren�t too big to jailMore at the site. Nice to know that we have some efficient and effective branches of the Government. Wish we had more of them...
A bank executive in the Hampton Roads area of Virginia was sentenced to 23 years in federal prison. Another from Orlando received eight years. In Stockbridge, Ga., a top bank officer is serving 12 years.
At a time when the government is being criticized for not holding senior bank executives liable for crisis-era crimes, a little-known federal agency is compiling a growing list of criminal convictions.
Since 2008, the Office of the Special Inspector General for the Troubled Asset Relief Program has pursued criminal charges against 107 senior bank officers, most of whom have been sentenced to prison. Created to supervise the government bailout of the auto and financial industries, the agency has found dozens of cases of bank executives who misused bailout funds.
SIGTARP has a staff of 170, a budget of $41 million and an enforcement track record that rivals agencies twice its size. The agency�s work has resulted in $4.7 billion in restitution paid to the government and victims. Lawmakers are holding SIGTARP up as a model and questioning why other agencies are not producing similar results.
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