White Privilege Treatment Continues for Convicted Wilmington Trust Criminals
It pays to be white. If these CONVICTED CRIMINALS were African American 20-year-olds, picked up for having $10.00 in cannabis on them, they’d be cooling their heels in the joint for sure.
Four former Wilmington Trust executives facing multi-year prison sentences will avoid jail time, at least until an appeals court addresses the case.
U.S. District Judge Richard G. Andrews on Wednesday granted the executives’ request to remain free on bail pending the appeal of their criminal bank fraud and conspiracy convictions.
In an opinion, Andrews acknowledged that it is an uncommon reprieve. The law requires defendants seeking bail at this stage of a federal criminal case to show that their appeal raises a “substantial question of law,” the judge wrote.
It this instance, the legal question is over the hundreds of millions of dollars of delinquent loans to Delaware developers that were accumulating on Wilmington Trust’s balance sheet during the height of the Great Recession.
And how they should have been reported to financial regulators – and to investors.
It is the same question that persisted through six weeks of trial last year when prosecutors alleged that Wilmington Trust maintained “a second set of books,” separate from ones they disclosed to the feds, showing the true value of a deteriorating commercial real estate portfolio.
In an internal email, referenced in court documents, one Wilmington Trust banker had called those soured assets “credit turds.”
When i read the article all i could think about was the eddie murphy skit on saturday night life
https://www.nbc.com/saturday-night-live/video/white-like-me/n9308
I’m still trying to find that bus.
See how they walk with their butts real tight.
Hopefully it’s practice for prison.
Not a fan of prison rape jokes, if I’m honest. But I’m a free speech absolutist.
The judge’s opinion resulted from what he considered to be a “substantial question of law” related to whether loans were classified as “past due” if a bank continued to receive interest payments and the debt was in the process of being restructured in accordance with contradictory definitions of two different federal agencies.
A test for a conclusion of white privilege would be identical or nearly identical circumstances for POC defendants. This may be class privilege, and one may argue that it’s a distinction without a difference, but I really think we need to careful about applying the label as the be all end all, just because we don’t have a better label.
And why don’t we use the label “Class Privilege” or some such label anyway or “Rich Privilege” or other more democratic label like 1% or 10% or whatever?
I understand the concept of white privilege, but there always has been other “privileges” which were/are equally complicit. Even if the defendants were POCs, the label “class privilege” would still apply.