I didn't come to speak on this issue tonight but another issue, but I can't help but look at the graphic message that's right there in front of everybody, in front of the country, about the financial, Great Recession, depression--who was charged and how many were convicted. This is a very, very, very sad omen. If we go back into the nineties and into the first decade of this century, very, very specific, as we understood what was going to come, you need to have a Justice Department that's willing to stand up and fight the very people who many times fund our campaigns. Now, if you can't say it, then you shouldn't be here. AIG is a perfect example. They became the poster child of everything that was going wrong in our financial institutions. But AIG, in 2003 and 2005--rather, 2003 and 2005, got what are called deferred prosecutions. Deferred prosecutions to me are the very center, the very apex of what is corrupt about those moneylenders in the temple. Now, what is AIG all about? They made and packaged many of these financial deals that we read about it for so many years. And people look at this and they read about it. They may not know all the specific definitions about every one of these packages, these financial products, as they were called, but they do understand that nobody ever pays for anything, and nobody ever is held accountable.
Bill Pascrell: “I didn't come to speak on this issue tonight but another issue, but I can't help but look at the graphic message that's…”
Editor's note · Context
Pascrell addresses the lack of accountability for financial institutions during the Great Recession.
Share
More from Bill Pascrell
A fan shouldn't have to sell a kidney or mortgage a house to see their favorite performer or team. That is what it has come to. That is what it has come to. Of course, I remain committed to the BOSS and SWIFT ACT. It just takes a little…
I am glad the budget includes finally closing the carried interest loophole, maybe the worst loophole in the entire tax code.
The enhanced Child Tax Credit enacted by Democrats in 2021 slashed childhood poverty in half. I repeat: in half. It is not hyperbole to call it one of the most successful policies ever passed by this Congress. And it is a tragedy its…
I regrettably missed the following roll call votes. Had I been present I would have voted: No on Roll Call Vote 387, Brecheen Amendment No. 24; No on Roll Call Vote 388, Brecheen Amendment No. 25; No on Roll Call Vote 389, Harshbarger…





