Barack Obama is finally ready to jail rich people for their crimes

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(Image credit: DNCC via Getty Images)

Barack Obama gave a highly-anticipated speech at the Democratic National Convention Wednesday. In it he attacked Donald Trump for attempting to rig the election, committing tons of crimes, and using his power to line his own pockets. Joe Biden and Kamala Harris understand, he said, that "no one — including the president — is above the law, and that no public official — including the president — should use their office to enrich themselves or their supporters."

This bears a marked contrast with Obama's record as president. His administration refused to seriously prosecute thousands and thousands of financial criminals. People who did everything from money laundering for drug cartels to mortgage document fraud on an industrial scale got off with wrist-slap fines. Attorney General Eric Holder said that he was reluctant to file charges because it might create financial instability.

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Ryan Cooper

Ryan Cooper is a national correspondent at TheWeek.com. His work has appeared in the Washington Monthly, The New Republic, and the Washington Post.