https://newrepublic.com/article/144230/lefts-misguided-debate-kamala-harris
I thought this was a particularly good take in the debate that's been happening over the last week, namely that literally everyone who had power in Democratic party over the last decade failed the victims of 2008 and Kamala Harris isn't anything special.
No one, Bernie Sanders included, has done a good job even talking about this issue. The real people affected by the failure of government to fight the criminality of our financial sector have been used as a political football and never really helped.
Harris did badly, but what we need to focus on now is how to address mortgage and investment banking going forward. If she starts saying the right things and pushing for the right policies in that regard I will be the first to support her.
I thought this was a particularly good take in the debate that's been happening over the last week, namely that literally everyone who had power in Democratic party over the last decade failed the victims of 2008 and Kamala Harris isn't anything special.
Politicians and partisans only manage to care about the millions of families who saw their lives ruined over the past decade when they can be used as props against political enemies. The lack of accountability for the criminal enterprise in our nations boardrooms goes well beyond Harris and continues to this very day. But when actual issues sit on the periphery of our political debates, these problems will never get fixed.
Lets recognize that no public official in this country, from Barack Obama on down, covered themselves in glory during the foreclosure crisis; to say that Harris failed to prosecute bankers is simply to say that she was a public official with authority over financial services fraud in the Obama era.
Though he was OneWests chairman, Mnuchin was never at risk of indictment or conviction. At best, California would have extracted a decent-sized fine from the companypaid for by shareholdersand guarantees meant to deter further law-breaking; its possible that Mnuchin, his reputation sullied, would not have ended up in charge of federal banking policy. This watered-down version of public accountability was seen as the best possible outcome, and Harris didnt even go for that.
This doesnt make her particularly special. Eric Holder and Lanny Breuer took hiatuses from their careers as corporate lawyers to join Obamas Justice Department and ensure light punishment for financial abuses. Tom Miller, the attorney general of Iowa, ran the 50-state investigation of foreclosure fraud, which investigated nothing and moved directly to a weak settlement that delivered 90 percent less relief for homeowners than promised. Eric Schneiderman, New Yorks attorney general, sold out supporters by agreeing to that settlement, saving it from the brink of collapse. He co-chaired a so-called task force on bank crimes that did nothing but ink more toothless settlements and proudly proclaim fake headline numbers about fines from behind a podium.
In other words, if you were to rank the performance of law enforcement officials during this period, everyone would be tied for last. They all deserve criticism for their inability to hold the perpetrators of the biggest incidence of consumer fraud in American history to account. They all displayed shocking cowardice and let down millions of vulnerable people, when they had reams of documentary evidence revealing the crime, enough to extract much more justice and far better outcomes for the victimized. They all ushered in the two-tiered system of justice that sapped peoples faith in democracy and at least partially led to the rise of Donald Trump.
Every day in America, somebody gets tossed out of a home based on false documents. Their elected officials surely know this; if I get a steady stream of letters from people with consistent stories about mortgage fraud, then senators and congressmen surely do as well. So instead of debating who was tough on corporate criminals and who wasntsince no one waswe should implore these would-be leaders to speak the hell up about the perversion of justice happening every day in courtrooms and foreclosure auctions across the country.
Senator Harris represents California, where the unconscionable treatment of foreclosure victims continues to terrorize families. Senator Cory Booker styles himself a leader in New Jersey, home to the highest foreclosure rate in the nation. The last time Senator Bernie Sanders said a word about foreclosures was when he was trying to win a primary election in hard-hit Nevada. There are activist groups all over Massachusetts fighting foreclosures that could use some high-profile support from Senator Elizabeth Warren.
No one, Bernie Sanders included, has done a good job even talking about this issue. The real people affected by the failure of government to fight the criminality of our financial sector have been used as a political football and never really helped.
Harris did badly, but what we need to focus on now is how to address mortgage and investment banking going forward. If she starts saying the right things and pushing for the right policies in that regard I will be the first to support her.