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The founding myth of progressive economics: Did Obama really let banks off the hook for crimes?

Slow Boring

As proponents of this anti-Obama conspiracy theory have moved closer to the mainstream of Democratic Party politics, Obama himself continues to be the most popular Democrat in the country, an in-demand speaker and surrogate every election cycle and the most accomplished progressive politician of recent generations. I know that a lot of people who are not particularly in the weeds on policy think I sound crazy when I talk about the extent to which diehard Obama-haters were steering the ship of state during the Biden Administration. But every once in a while, this kind of thing slips out.

So it’s worth actually asking: Is it factually true that the Obama administration deliberately tanked winnable criminal cases against major American banks?

The answer, of course, is no. But it’s hard to prove this kind of negative. And the accusation has been repeated enough that a writer can now casually drop it into a magazine article without being asked to provide any evidence for this nuclear-strength assertion.

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