Stephanie Cutter Quotes
Either Mitt Romney through his own words and his own signature was misrepresenting his position at Bain to the SEC, which is a felony, or he was misrepresenting his position at Bain to the American people.
Cutter, Stephanie. Obama for America Press Call. Quoted in "Obama Campaign: Romney May Have Committed A Felony" by Michael O'Brien. NBC News, NBCUniversal, 12 July 2012.
President George W. Bush, to justify the invasion of Iraq had told the public that the Iraqi regime was developing nuclear weapons and other weapons of mass destruction, and had participated in the September 11 attack on the United States by assisting Al Qaeda. It turned out that these statements were false. The administration claimed that their error was well intentioned and the result of faulty intelligence. Opponents claimed that the administration officials knew that they were exaggerating and had pressured the intelligence agencies to create intelligence conclusions that supported their story.
The then attorney general had begun a series of investigation which discovered that most of the major Wall Street brokerage houses were engaged in systematic frauds to cheat small investors. One dramatic fraud he uncovered was that the research expert analysts of major firms would recommend the stock of businesses that their firm was doing investment banking for even when they knew that the companies were not doing well or were even in deep financial trouble. See {627544}.
At the time of this interview there had been a decade of business fraud at many different levels. The regulatory agencies supposedly responsible for the regulation had neither the staff or the political will to even enforce the laws and regulations then in existence and there were many loopholes in those. Many business interests opposed all regulation and strict enforcement as a diminution of the health of the economy. Others, like Greenspan, saw fraud as corrupting the markets themselves and therefore the usual capitalistic economic competitive forces that would control business do not operate with extensive fraud.
It is a moral crime about which voters do not seem to care much.
Barry Bonds was a star professional baseball player whose accomplishments were aided by taking illegal drugs. He lied about his use of drugs, and the Department made a very large effort over years to finally prosecute him. However during that time there were almost no prosecutions of the thousands of bankers and financiers who had lied, cheated, forged legal documents and in the process almost permanently ruined the American economy—the Great Recession of 2008. The Justice Department claimed that white collar cases are very complex and take longer to prepare prosecutions. Critics claimed that there are so many law breakers, that the government does not want to prosecute all the felons, but just go after a few, and this is easier if time has gone by and public anger has receded or been forgotten.
At this time it was 6 years after the Home Financing Crisis and the Meltdown of 2008 and despite tens of thousands of law violations by the bank, the Justice Department was finally finishing their investigations and requiring some penalties. Other negotiations with other banks were in progress, but no bank executives were going to jail for the millions they handled fraudulently, whereas a burglar who stole household goods would do jail time.
Stephanie Cutter is an American political consultant. She served as an advisor to President Barack Obama during his first presidential term, and was deputy campaign manager for his 2012 re-election campaign. She previously worked in campaign and communications roles for other prominent Democrats including Ted Kennedy, John Kerry, and Michelle Obama. The New York Times described her as "a popular but polarizing face of (Obama's) campaign", and a "soldier who says the things the candidate can’t (or won’t) say."
