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Subprime Meltdown Echoes, OWS & Obama's Story, JPMorgan Off the Hook

By Matthew Russell Lee

UNITED NATIONS, September 17 -- So far this week there are at least two competing narratives of the subprime financial meltdown.

   On Monday President Barack Obama spoke from the Rose Garden about what he has done since, but still implicitly blaming irresponsible borrowers to some degree for the crisis. Obama has chided some homeowners for treating their homes as investments. Really?

   Meanwhile Occupy Wall Street marks #S17 today. Slogan included a call to remove Wall Street's Weapons of Financial Destruction, echoing with Syria.

  Obama's messaging was done through this National Economic Council, from which Gene Sperling is leaving, to be replaced by Jeffrey Zients, who used to work among other places at Bain & Co. Only opposition made Larry Summers tell Obama he had withdrawn his Federal Reserve nomination. He's made others, from Deutsche Bank, click here for Inner City Press story.

  So where's the accountability? How many Wall Street executives were prosecuted for their role? Five year anniversary? Where's the beef?

  The US Office of the Comptroller of the Currency is considering imposing a fine of JPMorgan Chase, for predatory practices - but only of $80 million. CEO Jaime Dimon brags of meeting with the OCC on a monthly basis.

  OWS marchers aim to target JPMorgan. The bank, like Kazakhstan, pays Tony Blair, who moonlights for the UN on the Middle East. The UN's Ban Ki-moon has put a Bank of America bigwig on his clean energy board. Who works for whom? Watch this site.


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