Monday, December 5, 2011

11-12-05 Criminality at the Top of a Lawless, Bankrupt Nation // La criminalidad en la parte superior de una nación sin ley, quiebra // 犯罪在一个无法无天,破产的国家页首

Let's recognize it: the US is a lawless nation, driven into bankruptcy by its own Banking-Justice Racket (BJR). Conditions in Europe are not much different.
[]  [] [] [] [] SCOTUS, RAKOFF, KOZINSKI, LEON, PHILLIPS


[]  [] []
MUELLER, KAISER, MELSON

 [] [] [] []
BERNANKE, SCHAPIRO, DUGAN, MOYNIHAN
 [] [] [] 
PAULSON, MOZILO, SAMUELS
Key Figures in the Banking-Justice Racket (BJR)


Los Angeles, December 5 - "At the bottom line, Morgenson reports, based on Bloomberg's data, that pursuant to Sarbanes Oxley Act(2002), all executives of the major banks, who signed on their respective certifications on the SEC quarterly filings (they should've switched those to robo-signers, as well), were engaging in Securities Fraud, in collusion with BERNANKE," says Joseph Zernik, PhD, of Human Rights Alert (NGO).

There is nothing new about this conclusion as well.  It is already well-publicized that:  [1-3]

  • Since early 2008, Bank of America's financial statements in SEC filings have been "delusional", and
  • Since early 2009, BERNANKE, PAULSON, LEWIS, MOYNIHAN and others were involved in a criminal conspiracy, detailed in Cuomo's April 2009 letter to the US Senate.
What Morgenson is well-aware of, but only tangentially writes about, [4-6] that this is the reason that US banking executives are immune to both past and future criminality (a unique and often unmentioned feature of the US Constitution): They have incriminating evidence, every step of the way, on top US officers at the TREASURY, FED, SEC, THRIFT, OCC, OTC, FBI, US DOJ, and US JUDICIARY.

In that respect, the repeat fraudulent charades by US Judge JED RAKOFF, in the US District Court in Manhattan, are an integral part of the routine -  sprinkling the holy water of justice to purify the racketeers... The tight association between the corrupt US financial institutions and the corrupt US judiciary is particularly alarming. [7] Judge JED RAKOFF should have been impeached for his conduct in previous performances. [8]


Congressional initiatives are useless:  The US is unable to enforce the Securities Acts, Sarbanes Oxley Act (2002), Fraud Enforcement and Recovery Act (2009), and RICO.

Let's recognize it, once and for all: this is a lawless nation, through organized state crime - the Banking-Justice Racket (BJR) - the People are driven into bankruptcy.

The US Constitution is dead. The People are deprived of life, liberty, and property with no due process of law. [9]


LINKS:
[1] 11-02-11 Press Release: US Congress Fails to Perform Its Oversight Duties and Impeach Bernanke
http://www.scribd.com/doc/48669543/[2] 11-08-16 Is Bernanke’s Conduct “treasonous”? Guardian.UK, NewsMax, and more...
http://www.scribd.com/doc/63416680/
[3] 09-04-23 RE: SEC v BAC (1:09-cv-06829) State of New York Attorney General Andrew Cuomo Letter to US Congress and analysts' responses:
http://www.scribd.com/doc/41079990/

[4] 11-04-21 "In Financial Crisis, No Prosecutions of Top Figures" - Because of widespread corruption of the justice system, they are effectively immune…http://www.scribd.com/doc/53520603/
[5] 08-01-08 Case of Borrower Hills (01-22574) - in the US Bankruptcy Court, Eastern District of Pennsylvania, Pittsburgh. Countrywide's Three "Recreated Letters" and a Transcript
http://www.scribd.com/doc/25003494/
[6] 11-10-20 Citigroup Settles for $285 Million; No Wall Street Executive Jailed Yet _ Truthout
http://www.scribd.com/doc/69688160/

[7] 11-08-01 Zernik, J: Fraud and corruption in the US courts is tightly linked to failing banking regulation and the financial crisis, 16th World Criminology Congress presentation
http://www.scribd.com/doc/61351562/

11-04-12 PRESS RELEASE: Bribing of State and US Judges by Bank of America Must be a Serious Concern!
http://www.scribd.com/doc/52846502/[8] 10-12-08 Request No 1 for Investigation, Impeachment of RUBY KRAJICK, Clerk of the Court, US District Court, Southern District of New York, in re: Conduct of Securities and Exchange Commission v Bank of America Corporation(1:09-cv-06829)
http://www.scribd.com/doc/44908376/10-12-19 Addendum to Request No 1 for Investigation/impeachment of JUDGE RAKOFF and Clerk RUBY KRAJICK, US District Court, Southern District of New York, in re: Conduct of Securities and Exchange Commission v Bank of America Corporation (1:09-cv-06829)
http://www.scribd.com/doc/45644678/

11-02-05 Request No 2 for Impeachment of Judge JED RAKOFF Clerk RUBY KRAJICK, US District Court, Southern District of New York, in Re Conduct of Lindner v Amex (1:10-cv-02228)
http://www.scribd.com/doc/48244479/

[9] 11-06-14 Corruption of the Courts and Failing Banking Regulation in the United States: Dred Scott redux?
http://www.scribd.com/doc/57707808/

11-06-24 Time Magazine - 4th of July Issue: Does the Constitution Still Matter?
http://www.scribd.com/doc/58665806/

11-10-03 Execution of US Citizens by Presidential Directives With No Due Process of Law
http://www.scribd.com/doc/67408506/

11-11-22 Habeas Corpus in the United States - Medieval-Digital Era…
http://www.scribd.com/doc/73637132/

11-12-02 Posse Comitatus Act (1878) and current martial law in the United States
http://www.scribd.com/doc/74572860/

_______________________________________________
THE NEW YORK TIMES
Fair Game

Secrets of the Bailout, Now Told

By GRETCHEN MORGENSON
Published: December 3, 2011
A  FRESH account emerged last week about the magnitude of financial aid that the Federal Reserve bestowed on big banks during the 2008-09 credit crisis. The report came from Bloomberg News, which had to mount a lengthy legal fight to wrest documents from the Fed that detailed its rescue efforts.

It is dispiriting, of course, that we are still learning about the billions provided to various financial firms during the crisis. Another sad element to this mess is that getting the truth requires the legal firepower of an organization as rich as Bloomberg.
 
But that’s the way our world works. Billions are secretly showered on troubled financial institutions to stave off disaster. Individuals get little or no help. 
Here are some of the new figures: 
Among all the rescue programs set up by the Fed, $7.77 trillion in commitments were outstanding as of March 2009, Bloomberg said. The nation’s six largest banks — JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley — borrowed almost half a trillion dollars from the Fed at peak periods, Bloomberg calculated, using the central bank’s data. 
Those six institutions accounted for 63 percent of the average daily borrowings from the Fed by all publicly traded United States banks, money management and investment firms, Bloomberg said. 
Numbers for individual companies were equally astonishing. For example, the Fed provided Bear Stearns with $30 billion to see it through its 2008 shotgun marriage with JPMorgan. This was in addition to the $29.5 billion in assets purchased by the Fed from Bear to assist in the buyout by JPMorgan. Citigroup, meanwhile, tapped the Fed for almost $100 billion in January 2009 —” its peak during the crisis — and Morgan Stanley received $107 billion in Fedd loans in September 2008. 
Some may see all this as ancient history or as ho-hum disclosures that confirm what everybody already knew — that our banks were on the prrecipice and that only hundreds of billions of dollars could save them. The Fed says that the money it lent in these programs was paid back without generating any losses. 
But the information is revealing nonetheless. The fact is, investors didn’t know how dire the situation was at these institutions. At the same time that these banks were privately thronging the teller windows at the Fed, some of their executives were publicly espousing their firms’ financial solidity. 
During the first three months of 2009, for example, when Citigroup’s Fed borrowing apparently peaked, Vikram Pandit, its chief executive, hailed the company’s performance. Calling that first quarter the best over all since 2007, Mr. Pandit said the results showed “the strength of Citi’s franchise.†
Citi’s earnings release didn’t detail its large Fed borrowings; neither did its filing for the first quarter of 2009 with the Securities and Exchange Commission. Other banks kept silent on these activities or mentioned them in passing with few specifics. 
These disclosure lapses are disturbing to Lynn E. Turner, a former chief accountant at the S.E.C. Since 1989, he said, commission rules have required public companies to disclose details about material federal assistance they receive. The rules grew out of the savings and loan crisis, during which hundreds of banks failed and others received government help. 
The rules are found in a section of the S.E.C.’s Codification of Financial Reporting Policies titled “Effects of Federal Financial Assistance Upon Operations.†They state that if any types of federal financial assistance have “materially affected or are reasonably likely to have a future material effect upon financial condition or results of operations, the management discussion and analysis should provide disclosure of the nature, amounts and effects of such assistance.â€
Given these rules, Mr. Turner said: “I would have expected some discussion in the management discussion and analysis of how this has had a positive impact on these banks’ operating results. The borrowings had to have an impact on their liquidity and earnings, but I don’t ever recall anybody saying ‘we borrowed a bunch of money from the Fed at zero percent interest.’ â€
 
I asked officials at Citigroup and Morgan Stanley about these disclosures. Jon Diat, a spokesman for Citigroup, said the bank’s disclosures in its quarterly filings with the S.E.C. “were entirely appropriate.†He added that Citi and other financial services firms “utilized numerous government programs that provided significant funding capacity and liquidity support which helped increase the flow of credit into the economy.â€

Morgan Stanley pointed to its annual report for 2008, which mentioned the various Fed programs and the bank’s ability to tap them. The filing noted that the Fed was authorized to extend credit to Morgan Stanley’s broker-dealer units in both the United States and Britain but contained no dollar amounts used.
 
Of course, there is stigma associated with a company tapping into federal assistance programs. This is the Fed’s main argument for keeping its operations under wraps. And companies want to avoid frightening investors by disclosing their reliance on this type of emergency cash, even if it is only temporary. 
But keeping this information from shareholders is no way to engender their trust. And a lack of investor confidence often translates to depressed valuations among companies’ shares. If investors doubt that a company is coming clean about its financial standing — the current worry is how expossed our banks are to European debt woes — its stock price will suffer. This is veery likely one of the reasons that big bank stocks trade at such low price-to-earnings multiples today. 
It will be interesting to see whether the S.E.C. does anything to enforce its rules that companies disclose federal assistance in financial filings, either in the recent past or in the future. You could certainly argue that requiring such disclosures is even more important nowadays, given that so many banks are considered too big to fail and that the taxpayer will undoubtedly be asked once again to rescue them from their mistakes. 
"These banks and the Fed have never believed in transparency," Mr. Turner said. “I actually think their thought process is sorely flawed. If the banks knew this stuff was going to be made public they'd behave differently. Instead of runs on the bank you'd have bankers doing things intelligently to avoid getting into trouble." 
What an idea!

http://www.nytimes.com/2011/12/04/business/secrets-of-the-bailout-now-revealed.html?adxnnl=1&ref=gretchenmorgenson&adxnnlx=1323119429-spdogW5kFh2yriHcT05Fvw
______

Joseph Zernik, PhD
Human Rights Alert (NGO)
[] 
The 2010 submission of Human Rights Alert to the Human Rights Council (HRC) of the United Nations was reviewed by the HRC professional staff and incorporated in the official HRC Professional Staff Report with a note referring to “corruption of the courts and the legal profession and discrimination by law enforcement in California.”
_______
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_____________________________
WHAT DID THE EXPERT SAY ABOUT THE CURRENT FINANCIAL CRISIS?
Foreclosure fraud: The homeowner nightmares continueCNN (April 7, 2011)
About 3 million homes have been repossessed since the housing boom ended in 2006… That number could balloon to about 6 million by 2013 Bloomberg (January 2011)
"...a system in which only the little people have to obey the law, while the rich, and bankers especially, can cheat and defraud without consequences." http://www.scribd.com/doc/50753639/Prof Paul Krugman, MIT (2011)
_____________________________
WHAT DID THE EXPERTS SAY ABOUT THE JUSTICE SYSTEM IN LOS ANGELES COUNTY, CALIFORNIA?
"...judges tried and sentenced a staggering number of people for crimes they did not commit." Prof David Burcham, Dean, Loyola Law School, LA (2001)
http://www.scribd.com/doc/29043589/
"This is conduct associated with the most repressive dictators and police states... and judges must share responsibility when innocent people are convicted."     Prof Erwin Chemerinsky, Dean, Irvine Law School (2001) http://www.scribd.com/doc/27433920/"Innocent people remain in prison""...the LA Superior Court and the DA office, the two other parts of the justice system that the Blue Panel Report recommends must be investigated relative to the integrity of the system, have not produced any response that we know of..."LAPD Blue Ribbon Review Panel Report (2006)
http://www.scribd.com/doc/24902306 /

_____________________________
WHAT DID THE EXPERTS SAY ABOUT THE JUSTICE SYSTEM IN CALIFORNIA?
"...corruption of the courts and the legal profession and discrimination by law enforcement in California." United Nations Human Rights Council Staff Report (2010)
http://www.scribd.com/doc/38566837/_____________________________
WHAT DID THE EXPERTS SAY ABOUT THE STATE COURTS IN THE UNITED STATES?
"On July 26, 2010, Laurence Tribe, Senior Counsel for the United States Department of Justice, Access to Justice Initiative, delivered an important speech to the Conference of Chief Justices, challenging them to halt the disintegration of our state justice systems before they become indistinguishable from courts of third world nations."Prof Laurence Tribe, Harvard Law School (2010), per National Defender Leadership Institute (2010)
http://www.nlada.net/library/article/national_dojspeechto%20chiefjustice07-26-2010_gideonalert
_____________________________
WHAT DID THE EXPERTS SAY ABOUT THE CONDITIONS IN THE PRISON IN MONROE COUNTY, TENESSEE?
"What goes on there is more like gulags of centuries ago."ACLUhttp://www.scribd.com/doc/72546279/
_____________________________
WHAT DID THE EXPERTS SAY ABOUT THE SUPREME COURT OF THE UNITED STATES?
"More than 100 law professors have signed on to a letter released today that proposes congressional hearings and legislation aimed at fashioning "mandatory and enforceable" ethics rules for Supreme Court justices for the first time. The effort, coordinated by the liberal Alliance for Justice, was triggered by "recent media reports," the letter said, apparently referring to stories of meetings and other potential conflicts of interest involving Justices Antonin Scalia and Clarence Thomas among others."More than 100 law professors, as reported by the Blog of the Legal Times (February 2011) http://www.scribd.com/doc/49586436/_____________________________
WHAT DID CHIEF JUDGE OF THE US COURT OF APPEALS, 5TH CIRCUIT, SAY ABOUT THE US JUSTICE SYSTEM?
"The American legal system has been corrupted almost beyond recognition..."
Chief Judge, US Court of Appeals, 5th Circuit, Edith Jones, speaking before the Federalist Society of Harvard Law School (February 2003)
http://www.scribd.com/doc/50137887/

_____________________________
WHAT DID THE CHAIR OF THE SENATE JUDICIARY COMMITTEE SAY ABOUT THE US JUSTICE SYSTEM?
* In a speech in Georgetown University, Senator Leahy, Chair of the Senate Judiciary Committee called for a "Truth and Reconciliation Commission" on the US Department of Justice.Transcript of Senator Leahy speech (2009)
http://www.scribd.com/doc/38472251/

_____ 
Human rights, freedom of the speech, government corruption, and more, will be discussed in:

[] 

Jerusalem-AlQuds 2012

Love, Peace, Justice

empowering the People through
a dance/music/art/study/pray
Celebration

date to be scheduled

To join our email list send subscribe message to Joseph Zernik, PhD:
jz12345@earhlink.net  or 123456xyz@gmail.com

READ MORE:

[1] http://josephsdream2012.wordpress.com/

WATCH THE YOUTUBE VIDEOS:

[1] From Jerusalem to the Wall Street Protesters: we must bring this Robber Baron Era to an end!
http://www.youtube.com/watch?v=g3r7XUtoguk

[2] Guantanamera: From Jerusalem to Guantanamo Bay -- the US has lost all credibility as a Civil Society
http://www.youtube.com/watch?v=5dcp63ry_es

[3] Boris announcing dream party Jerusalem al-Quds 2012
http://www.youtube.com/watch?v=-lOxo-ae7ys
[4] "Come to Jerusalem," says Mr Take It Easy...
http://www.youtube.com/watch?v=otkPe4UAZTs 

11-12-05 The U.S. Constitution Is Dead and Buried // La Constitución de EE.UU. está muerto y enterrado// 美国宪法是死亡和埋葬

Don't know who Devon DB is, and I may differ on the details, his writing reflects his short perspective, but the issue is clear and simple, regardless of the  minutiae... The US Constitution is dead and buried.  The conclusion was clear already several years ago:  At this point in time we have only the Universal Declaration of Human Rights to support our claims for liberty and dignity under oppression.




LINKS

[1] 11-06-14 Corruption of the Courts and Failing Banking Regulation in the United States: Dred Scott redux?
http://www.scribd.com/doc/57707808/
[2] 11-06-24 Time Magazine - 4th of July Issue: Does the Constitution Still Matter?
http://www.scribd.com/doc/58665806/
[3] 11-10-03 Execution of US Citizens by Presidential Directives With No Due Process of Law
http://www.scribd.com/doc/67408506/
[4] 11-11-22 Habeas Corpus in the United States - Medieval-Digital Era…
http://www.scribd.com/doc/73637132/
[5] 11-12-02 Posse Comitatus Act (1878) and current martial law in the United States
http://www.scribd.com/doc/74572860/
___________
From: Global Research E-Newsletter

Having trouble viewing this email? Click here
The Constitution Is Dead: The Gradual Transition towards an Orwellian Police State
Americans denied their First and Third amendment rights...

By Devon DB

URL of this article: www.globalresearch.ca/index.php?context=va&aid=28010

Global Research, December 3, 2011

Many in America still believe that the Constitution is the supreme law of the land and that politicians, both Republican and Democrat alike, still hold that view and ensure that any and all legislation passed does not violate it. However, in today�s America, the Constitution is effectively a null and void document, nothing more than a symbol politicians pay lip service to.
...

The Constitution is dead and with it the beliefs and ideals America was founded on have also passed away. The most terrifying occurrence, however, is that Americans are seeing their freedoms eroded are still in denial that a police state is slowly, but surely on its way.
_______

Joseph Zernik, PhD
Human Rights Alert (NGO)
 
The 2010 submission of Human Rights Alert to the Human Rights Council (HRC) of the United Nations was reviewed by the HRC professional staff and incorporated in the official HRC Professional Staff Report with a note referring to �corruption of the courts and the legal profession and discrimination by law enforcement in California.�
_______ 
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_____________________________
WHAT DID THE EXPERT SAY ABOUT THE CURRENT FINANCIAL CRISIS?
*
Foreclosure fraud: The homeowner nightmares continue
CNN (April 7, 2011)
*
About 3 million homes have been repossessed since the housing boom ended in 2006� That number could balloon to about 6 million by 2013
Bloomberg (January 2011)
*
"...a system in which only the little people have to obey the law, while the rich, and bankers especially, can cheat and defraud without consequences."
http://www.scribd.com/doc/50753639/
Prof Paul Krugman, MIT (2011)
_____________________________
WHAT DID THE EXPERTS SAY ABOUT THE JUSTICE SYSTEM IN LOS ANGELES COUNTY, CALIFORNIA?
*
"...judges tried and sentenced a staggering number of people for crimes they did not commit."
Prof David Burcham, Dean, Loyola Law School, LA (2001)
http://www.scribd.com/doc/29043589/
*
"This is conduct associated with the most repressive dictators and police states... and judges must share responsibility when innocent people are convicted."    
Prof Erwin Chemerinsky, Dean, Irvine Law School (2001)
http://www.scribd.com/doc/27433920/
* "Innocent people remain in prison"
* "...the LA Superior Court and the DA office, the two other parts of the justice system that the Blue Panel Report recommends must be investigated relative to the integrity of the system, have not produced any response that we know of..."
LAPD Blue Ribbon Review Panel Report (2006)
http://www.scribd.com/doc/24902306/
_____________________________
WHAT DID THE EXPERTS SAY ABOUT THE JUSTICE SYSTEM IN CALIFORNIA?
*
"...corruption of the courts and the legal profession and discrimination by law enforcement in California."
United Nations Human Rights Council Staff Report (2010)
http://www.scribd.com/doc/38566837/
_____________________________
WHAT DID THE EXPERTS SAY ABOUT THE STATE COURTS IN THE UNITED STATES?
*
"On July 26, 2010, Laurence Tribe, Senior Counsel for the United States Department of Justice, Access to Justice Initiative, delivered an important speech to the Conference of Chief Justices, challenging them to halt the disintegration of our state justice systems before they become indistinguishable from courts of third world nations."
Prof Laurence Tribe, Harvard Law School (2010), per National Defender Leadership Institute (2010)
http://www.nlada.net/library/article/national_dojspeechto%20chiefjustice07-26-2010_gideonalert
_____________________________
WHAT DID THE EXPERTS SAY ABOUT THE CONDITIONS IN THE PRISON IN MONROE COUNTY, TENESSEE?
*
"What goes on there is more like gulags of centuries ago."
ACLU
http://www.scribd.com/doc/72546279/
_____________________________
WHAT DID THE EXPERTS SAY ABOUT THE SUPREME COURT OF THE UNITED STATES?
*
"More than 100 law professors have signed on to a letter released today that proposes congressional hearings and legislation aimed at fashioning "mandatory and enforceable" ethics rules for Supreme Court justices for the first time. The effort, coordinated by the liberal Alliance for Justice, was triggered by "recent media reports," the letter said, apparently referring to stories of meetings and other potential conflicts of interest involving Justices Antonin Scalia and Clarence Thomas among others."
More than 100 law professors, as reported by the Blog of the Legal Times (February 2011)
http://www.scribd.com/doc/49586436/
_____________________________
WHAT DID CHIEF JUDGE OF THE US COURT OF APPEALS, 5TH CIRCUIT, SAY ABOUT THE US JUSTICE SYSTEM?
*
"The American legal system has been corrupted almost beyond recognition..."
Chief Judge, US Court of Appeals, 5th Circuit, Edith Jones, speaking before the Federalist Society of Harvard Law School (February 2003)
http://www.scribd.com/doc/50137887/
_____________________________
WHAT DID THE CHAIR OF THE SENATE JUDICIARY COMMITTEE SAY ABOUT THE US JUSTICE SYSTEM?
* In a speech in Georgetown University, Senator Leahy, Chair of the Senate Judiciary Committee called for a "Truth and Reconciliation Commission" on the US Department of Justice.
Transcript of Senator Leahy speech (2009)
http://www.scribd.com/doc/38472251/
_____
Human rights, freedom of the speech, government corruption, and more, will be discussed in:

Jerusalem-AlQuds 2012


Love, Peace, Justice

empowering the People through
a dance/music/art/study/pray
Celebration

date to be scheduled

To join our email list send subscribe message to Joseph Zernik, PhD:

jz12345@earhlink.net  or 123456xyz@gmail.com

READ MORE:
[1] http://josephsdream2012.wordpress.com/

WATCH THE YOUTUBE VIDEOS:
[1] From Jerusalem to the Wall Street Protesters: we must bring this Robber Baron Era to an end!
http://www.youtube.com/watch?v=g3r7XUtoguk
[2] Guantanamera: From Jerusalem to Guantanamo Bay -- the US has lost all credibility as a Civil Society
http://www.youtube.com/watch?v=5dcp63ry_es
[3] Boris announcing dream party Jerusalem al-Quds 2012
http://www.youtube.com/watch?v=-lOxo-ae7ys
[4] "Come to Jerusalem," says Mr Take It Easy...
http://www.youtube.com/watch?v=otkPe4UAZTs

11-12-04 Prosecuting Wall Street _ 60 Minutes TV show // Enjuiciamiento de Wall Street _ 60 minutos de televisión // 起诉华尔街_60分钟的电视节目

The evidence of criminality by senior executives in Countrywide and Bank of America has been repeatedly provided to all relevant law enforcement agency in recent years.  However, under the US justice system, bankers are effectively immune for both past and future criminality.
Conditions in Europe under the current financial crisis are not much different.

LINKS:

[1] 11-12-04 Prosecuting Wall Street_ 60 minutes
[2] 11-08-08 PRESS RELEASE: Los Angeles Superior Court - Widespread Corruption and Refusal of the US Government to Take Action_Presentation in the 16th World Criminology Congress
[3] 11-08-08 PRESS RELEASE: Fraud and Corruption in the US Courts are Tightly Linked to Failing Banking Regulation and the Global Economic Crisis – presentation in the 16th World Criminology Congress, Japan
[4] 10-05-05 Countrywide, Bank of America [NYSE;BAC], and its President Brian Moynihan Compilation of Records Evidence of Racketeering
[5] 10-05-05 Chairs of US Congress Committees of the Judiciary and Banking Are Requested to Join Senator Feinstein's Inquiries on Comptroller of the Currency
[6] 10-07-06 Complaint Filed with US Attorney Office Los Angeles Against Moynihan Bank of America [NYSE:BAC] Bryan Cave LLP Alleging Racketeering
[7] 10-07-06 Complaint Filed with US Attorney Office, Los Angeles, Against Brian Moynihan, Bank of America [NYSE:BAC], Bryan Cave LLP, Alleging Racketeering and Large Scale Financial Institution Fraud




December 4, 2011 7:03 PM 

Prosecuting Wall Street


Watch the Segment »

Two high-ranking financial whistleblowers say they tried to warn their superiors about defective and even fraudulent mortgages. So why haven't the companies or their executives been prosecuted? Steve Kroft reports.

Web Extras


(CBS News)  
Two whistleblowers offer a rare window into the root causes of the subprime mortgage meltdown. Eileen Foster, a former senior executive at Countrywide Financial, and Richard Bowen, a former vice president at Citigroup, tell Steve Kroft the companies ignored their repeated warnings about defective, even fraudulent mortgages. The result, experts say, was a cascading wave of mortgage defaults for which virtually no high-ranking Wall Street executives have been prosecuted.

The following is a script of "Prosecuting Wall Street" which aired on Dec. 4, 2011. Steve Kroft is correspondent, James Jacoby, producer.
It's been three years since the financial crisis crippled the American economy, and much to the consternation of the general public and the demonstrators on Wall Street, there has not been a single prosecution of a high-ranking Wall Street executive or major financial firm even though fraud and financial misrepresentations played a significant role in the meltdown. We wanted to know why, so nine months ago we began looking for cases that might have prosecutorial merit. Tonight you'll hear about two of them. We begin with a woman named Eileen Foster, a senior executive at Countrywide Financial, one of the epicenters of the crisis.
Steve Kroft: Do you believe that there are people at Countrywide who belong behind bars?
Eileen Foster: Yes.
Kroft: Do you want to give me their names?
Foster: No.
Kroft: Would you give their names to a grand jury if you were asked?
Foster: Yes.
But Eileen Foster has never been asked - and never spoken to the Justice Department - even though she was Countrywide's executive vice president in charge of fraud investigations. At the height of the housing bubble, Countrywide Financial was the largest mortgage lender in the country and the loans it made were among the worst, a third ending up in foreclosure or default, many because of mortgage fraud.
It was Foster's job to monitor and investigate allegations of fraud against Countrywide employees and make sure they were reported to the Board of Directors and the Treasury Department.
Kroft: How much fraud was there at Countrywide?
Foster: From what I saw, the types of things I saw, it was-- it appeared systemic. It, it wasn't just one individual or two or three individuals, it was branches of individuals, it was regions of individuals.
Kroft: What you seem to be saying was it was just a way of doing business?
Foster: Yes.
In 2007, Foster sent a team to the Boston area to search several branch offices of Countrywide's subprime division - the division that lent to borrowers with poor credit. The investigators rummaged through the office's recycling bins and found evidence that Countrywide loan officers were forging and manipulating borrowers' income and asset statements to help them get loans they weren't qualified for and couldn't afford.
Foster: All of the-- the recycle bins, whenever we looked through those they were full of, you know, signatures that had been cut off of one document and put onto another and then photocopied, you know, or faxed and then the-- you know, the creation thrown-- thrown in the recycle bin.
Kroft: And the incentive for the people at Countrywide to do that was what?
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Joseph Zernik, PhD
Human Rights Alert (NGO)
[] 
The 2010 submission of Human Rights Alert to the Human Rights Council (HRC) of the United Nations was reviewed by the HRC professional staff and incorporated in the official HRC Professional Staff Report with a note referring to �corruption of the courts and the legal profession and discrimination by law enforcement in California.�
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WHAT DID THE EXPERT SAY ABOUT THE CURRENT FINANCIAL CRISIS?
*
Foreclosure fraud: The homeowner nightmares continue
CNN (April 7, 2011)
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About 3 million homes have been repossessed since the housing boom ended in 2006� That number could balloon to about 6 million by 2013
Bloomberg (January 2011)
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"...a system in which only the little people have to obey the law, while the rich, and bankers especially, can cheat and defraud without consequences."
http://www.scribd.com/doc/50753639/
Prof Paul Krugman, MIT (2011)
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Human rights, freedom of the speech, government corruption, and more, will be discussed in:
Jerusalem-AlQuds 2012

Love, Peace, Justice
 empowering the People through
a dance/music/art/study/pray
Celebration

date to be scheduled

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WATCH THE YOUTUBE VIDEOS:
[1] From Jerusalem to the Wall Street Protesters: we must bring this Robber Baron Era to an end!
http://www.youtube.com/watch?v=g3r7XUtoguk
[2] Guantanamera: From Jerusalem to Guantanamo Bay -- the US has lost all credibility as a Civil Society
http://www.youtube.com/watch?v=5dcp63ry_es
[3] Boris announcing dream party Jerusalem al-Quds 2012
http://www.youtube.com/watch?v=-lOxo-ae7ys
[4] "Come to Jerusalem," says Mr Take It Easy...
http://www.youtube.com/watch?v=otkPe4UAZTs 

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