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Ripped off, Part 2

We ‘ve done two previous broadcasts about massive fraud and criminality that results in huge profits for some, and prosecutions for pretty much nobody – but we’re not leaving this one alone.

Tonight, Mike and Mark speak with E. Henry Schoenberger and Eric Dixon about what it’ll take to get indictments and prosecutions – and a lot more.

Fixing this might just be something that the 99% of us can get behind, together, to actually change something.

About our guests:

Henry Schoenberger is a Cleveland entrepreneur, financial specialist, writer and author of How We Got Swindled by Wall Street Godfathers, Greed & Financial Darwinism – The 30-Year War Against The American Dream. The book, an insightful look at the failures of Washington and Wall Street as well as all the contributing factors that led to the current depression-like economy and dysfunctional state of the US, includes a foreword from David Satterfield, a veteran financial journalist who shared in two Pulitzer Prizes while he was the business editor at the Miami Herald.

Schoenberger’s 1990 book, Invest for Success, How to Avoid Getting Ripped Off by Real Estate Partnerships, the Stock Market and Diversification became a critical success nationally, and recently B&N decided to carry it again online and in stock. He has authored a number of articles in professional journals and mainstream publications.

Eric Dixon is a Yale Law School graduate and has been a New York lawyer for nearly 20 years. He has spent many years doing corporate transactions and securities filings and compliance, and is an expert election lawyer. He now handles business due diligence and investigations for entrepreneurs and investors. Eric Dixon is on the Board of Directors of the Financial Policy Council, and is currently writing a book on crony justice.

Eric Dixon runs the Crime, Politics and Policy blog at

Site links:

Greg Smith – Why I am leaving Goldman Sachs

Five Major Banks consistently hindered Mortgage Investigation


Henry’s articles on Huffington Post


1 comment to Ripped off, Part 2

  • Anthony

    America has been taken away from the American people—and there’s nothing no-one in America can do about it—unless some other American-like country comes in and takes down the criminal mafia/nazi-like Kabul that makes up the private sector—and it’s only downhill from here on out for millions…

    By Danny Shecter;
    This angry denunciation resonates with the global protests that surfaced two years later under the banner of Occupy Wall Street.

    Zuboff amplified her insights in the pages of Business Week:

    Each day’s economic news leaves me haunted by Hannah Arendt’s ruminations on Nazi war criminal Adolph Eichmann as she reported on his trial in Jerusalem for The New Yorker 45 years ago. Arendt pondered ‘the strange interdependence of thoughtlessness and evil’ and sought to capture it with her famous formulation ‘the banality of evil’. Arendt found Eichmann neither ‘perverted nor sadistic’, but ‘terribly and terrifyingly normal’.

    As we learn more about the behaviour within our financial institutions, we see that just about everyone accepted a reckless system that rewards transactions but rejects responsibility for the consequences of those transactions.

    Bankers, brokers and financial specialists were all willing participants in a self-centred business model that celebrates what’s good for business insiders while dehumanising and distancing everyone else – the outsiders.

    Follow our in depth coverage

    It is precisely this framework, steeped in moral as well as economic lessons, that we need to adopt to judge the vast human rights implications of the decisions and practices that led to the massive unemployment, homelessness, foreclosures, downward mobility and poverty that grips our world.

    In most of the media, this crisis has been treated with a perverse logic: that no one was responsible since everyone was financially irresponsible and thus everyone is to blame – while at the same time no one is blamed.

    It took the editor of Vanity Fair, a popular magazine, more into celebrities than derivatives, to dispose of this perverse lack of logic.

    Writes Graydon Carter:

    It can fairly be said that the chain of catastrophic bets made over the past decade by a few hundred bankers may well turn out to be the greatest non- violent crime against humanity in history. They’ve brought the world’s economy to its knees, lost tens of millions of people their jobs and their homes, and trashed the retirement plans of a generation, and they could drive an estimated 200 million people worldwide into dire poverty. In other words, never before have so few, done so much, to so many. (Emphasis mine.)

    And yet, the investigations of the very concrete financial crimes behind this crisis have been stunted and the prosecutions few and far between.

    Crimes of relatively minor transgressions are routinely adjudicated; crimes that led to the loss of trillions of dollars are ignored.

    Now are we the ppl the problem?–or are we the ppl the solution?

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