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Is This Why They Won’t Prosecute? Top Justice Officials Represented Big Banks, Freddie, Fannie and Mers
Obama’s Department of Justice isn’t prosecuting any big fish.
Indeed, the Obama administration is prosecuting fewer financial crimes than Ronald Reagan, George W. Bush, George H.W. Bush or Bill Clinton.
This is true even though the big banks – such as Bank of America, Citigroup, JP Morgan and Wells Fargo – committed some fraud, but their entire business model is fraudulent. See this, this, this, this and this.
The same is true of Fannie, Freddie. And even more so with Mers, where its entire purpose – from day one – was fraudulent. Here, here, here, here and here.
So why haven’t the fraudsters running these chop shops been prosecuted by Attorney General Eric Holder, and the head of the DOJ’s criminal division Lanny Breuer?
Reuters helps explain why today:
U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department’s criminal division [watch this to get a sense of Breuer], were partners for years at a Washington law firm that represented a Who’s Who of big banks and other companies at the center of alleged foreclosure fraud, a Reuters inquiry shows.
The firm, Covington & Burling, is one of Washington’s biggest white shoe law firms. Law professors and other federal ethics experts said that federal conflict of interest rules required Holder and Breuer to recuse themselves from any Justice Department decisions relating to law firm clients they personally had done work for.
Both the Justice Department and Covington declined to say if either official had personally worked on matters for the big mortgage industry clients. Justice Department spokeswoman Tracy Schmaler said Holder and Breuer had complied fully with conflict of interest regulations, but she declined to say if they had recused themselves from any matters related to the former clients.
Reuters reported in December that under Holder and Breuer, the Justice Department hasn’t brought any criminal cases against big banks or other companies involved in mortgage servicing, even though copious evidence has surfaced of apparent criminal violations in foreclosure cases.
The evidence, including records from federal and state courts and local clerks’ offices around the country, shows widespread forgery, perjury, obstruction of justice, and illegal foreclosures on the homes of thousands of active-duty military personnel.
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While Holder and Breuer were partners at Covington, the firm’s clients included the four largest U.S. banks – Bank of America, Citigroup, JP Morgan Chase and Wells Fargo & Co – as well as at least one other bank that is among the 10 largest mortgage servicers.
***
Covington represented Freddie Mac …. [and] MERS Corp …. Court records show that Covington, in the late 1990s, provided legal opinion letters needed to create MERS on behalf of Fannie Mae, Freddie Mac, Bank of America, JP Morgan Chase and several other large banks.
***
Covington in 2004 also wrote a crucial opinion letter commissioned by MERS, providing legal justification for its electronic registry. MERS spokeswoman Karmela Lejarde declined to comment on Covington legal work done for MERS.
This isn’t as bad as Department of Justice lawyer John Yoo’s letter justifying torture by the Bush Administration, but it’s arguably somewhat analogous, as it is a legal opinion trying to justify blatant illegality.
No wonder top financial crime expert Bill Black says that we have to fire Eric “Place” Holder and all other government officials who are blocking prosecution of the criminals who caused the economic crisis.
Indeed, it makes one wonder whether the Department of Justice still dispenses justice … or has turned into a “protection racket” for the rich and powerful.
Of course, most of the rest of boys in D.C. are not much better.
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No, it's the "Just Us" department.
The elite are a very small group of people who all support each others crimes.
Read:
http://www.amazon.com/Simple-Wealth-Mr-Andrew-Costello/dp/1463523017/ref
So where to now St. Peter?
It would seem logical that the banksta cartel will throw support to Obama to ensure another 4 years, and likely run out the statutes.
The only way this will change isa mass refusal to use the services - bank run bitchez!
Use cash or the credit union system to bank.
Credit unions still depend on the fed.
End the fed bank of treason, systemic enabler of fraud, underminer of liberty.
51% of the population are on some sort of US Gov dole. A huge per cent of the population are out of work and many have lost their homes. Many are staying in their homes and feeding themselves with what savings they have left. Many more are maxing out their credit cards to pay for food and rent.
So, my question: Who is left to create a 'run on the banks' when damn few have any money in the banks to withdraw?
imo, that is why we have seen so little opposition to the Unpatriot Act, huge expansion of homeland security, the NDAA, the attack on the freedom of speech on the internet, et al...
The bankers have got the pols and the citizens exactly where they want them.
Those thoughts kept me up last night. No run on a bank will ever occur and if it does we will never know.
My feeling about Obama administration is that these guys have no history of tradition and have no understanding of what's really at stake. What is at stake is the foundation of america itself, freedom, rules of laws, free market capitalism. Obama and his ghouls got into office to plunder it the same way g.w. bush, or clinton, or bush senior, etc. They are basically psychopathic political animals; they only know how to make gain for themselves even if it means the destruction of this great nation. As far as I'm concern Obama is a 2nd generation Kenyan immigrant who has no sense of the American tradition and love for freedom.
Vote Ron Paul. Even if Ron Paul fails this time, his son will carry on. One day true American will be elected president.
Ask yourselves what's consistent among both bush stooges, obama clinton, the last 24 years, what is the same...ALL are NorthEast Ivy League elitist intellectuals. Clearly the problems we have have been exacerbated during their tenure (not discounting the ongoing deception that has occurred for about forever in this country).
Ron Paul
As Snidley says...Patriot Act...Pills for Seniors...growth of statism...its a long list with all predecessors.
The thing with me is equilibrium.
We can't start a third way until what was, is restored. We pay for what we buy at point of sale. No more charging it to the next generation...its immoral.
I know this...the stewardship that can allow that to happen won't come from the Chicago crony that is the current occupant, he's already shown that. He is not courageous enough to have his AG investigate or prosecute accomplices to the crimes because he can't, as it would compromise himself...and them.
I'm not sayin his replacement can or will either. But equilibrium to our starting point is important.
Look how far we've come now in three short years. I think its remarkable. People (left & right) are interested and investigating the formation of the Fed from mere legislative fiat 100yrs ago...instead of the peoples will. They are actually reading the founding documents and absorbing its promise and its warning. We see the tentacles now hidden from view for all those years reaching around trying to strip us of our freedoms.
Its all good...steady as she goes ;-)
true brain... Do you honestly believe that Bush the Jr and his passage of the Unpatriot Act, pursuit of wars any and everywhere, and his lying vp and sec of defense were any worse than the azz hats now in power?
What we have now is simply a continuation of Bush Jr and the neo cons.
They are all rotten to the core and calling them black or white or dems or repubs doesn't make a damn bit of difference.
The big money is calling the tune and the pols are dancing to it.
Yes, per George Carlin,"The political parties are there to give you the illusion that you have a choice. You don't. You have owners. They own you."
GW,
More screens to capture.
My comments on another thread:
Yeah, that zio-media propaganda...America loves it!
And another thing, why is it when these stories come out about reputed polls, they never show it or the results, or allow anyone but a selected audience to vote on it? They are always over by the time you hear about them and that, is plain ol corruption in the election system. Why bother having an election if it is tainted or fraudulent? Why bother if the system is rigged and vote fraud runs rampant in the entire network?
Ah who cares...back to starstruck on the hyptno drug TV or sumptin.
If you want to see some real polls, check these out where the real public opinion is, and not on these zio-media propaganda past-tense-polls.
VOTE FOR RON PAUL!!!!!!!!!!!!
http://www.cnn.com/
http://www.foxnews.com/on-air/oreilly/index.html
http://www.foxcarolina.com/story/16553632/perry-ends-bid-for-pres
http://www.newsday.com/news/nation/gop-poll-011912-1.3463715
http://www.naplesnews.com/polls/2012/jan/florida-gop-primary-vote/
http://theswash.com/liberty/poll-who-won-tonights-debate-1192012
http://yourpoliticalnewsgroup.com/wp_ypng/
"Why bother if the system is rigged and vote fraud runs rampant in the entire network?"
exactly, that's what they want. you must vote. Ron Paul.
Whether in Dallas or DC, New York or Newark, the rule of law is the rule of power and the rule of power is the rule of wealth.
“Know your place” is an ideal of Dominance corruption and control. Yeasur and Nosur Yes boss and No boss seems to be lost on the younger generations. A depression may teach them a lesson.
US Citizen bitch gotta learn about Submission
This is one of the biggest problems I have with Obama, one of many I suppose...
The 'rule of law' has broken down completely now, not that its been that great for the last thirty years or so. It should be clear to all that the legal system only works for the 1% at this point.
DO NOT become involved in any legal proceeding, unless you are in league with a 1%er. You will lose. And the penalties are becoming harsher by the day.
...which leaves us with the rule of men, which is tyranny.
And ultimately civil war.
So what does it all mean? At a minimum the private bank cartel with additional attached players has control of the most powerful departments in the executive branch of government which itself is ,in contravention to the intent of the US constitution, dominant over the other two branches. One of those branches has uncnstitutionally ceded much of its power to the executive branch abdicating its position as a co-equal power, assisting in the transition of the US to totalitarian dictatorship..
Presidential Chief of Staff, inarguably the most powerful position within the white house because this position supervises the President.
Treasury, under the thumb of a weasel with ultra close ties to GS, NY FED (the real power center of the Federal Reserve) and other odious entities.
State, under control of the carpetbagger who brazenly emigrated from the backwater of Arkansa to New York to further her ambition to be President by demonstrating fealty to the Banking Powers That Be.
And now Justice is exposed as being de facto occupied territory governed from New York as well.
The US had a revolution to overthrow a despotic overlord in the late 1770's fighting a seven year war in which it lost every battle save the last, but a counter-revolution secretly took place in 1913 and under that new regime increasing its power imcrememtally over decades we now are subjects not citizens.
During the founding of the US it was often stated that it was better to recognize and deal with a horrible reality than cling to denial and deer in the headlights mentality. We need to wake up. This is not a soap opera you are watching and its not entertainment. This is the destruction of all that is good, and all that is really important.
Questan has it right. Legislative capture, regulatory capture, financial capture, media capture, and now legal capture.
I supposed I would be considered racist if I proposed an old fashioned lynching for Obama and Holder, but frankly I don't give a shit.
nah, just a visit from the secret service
OT but for you GW
Houston we do have meltdown.
http://www.mining.com/2012/01/21/a-look-inside-the-fukushima-containment-vessel/
from Dred 'Scott to FDR packing the supreme court, American history is replete with crimes, there weren't any innocent days of this corrupt republic, also look up "the Trail of Tears" and president Andrew Jackson, broken treaties, small pox blankets etc.
"from Dred 'Scott to FDR packing the supreme court, American history is replete with crimes, "
Nice try in theory, but not all metaphors are created equal; not all comparisons apt.
Here is a good and honest interview of Ganzalo Lira by Max Keiser. In the past I have had reservations about both of these guys. But here Lira lays out the reasons that flight may be the only way at this point. After the investors at MF Global had their money stolen and Justice did nothing to help them, what is the point in fighting anymore. You can't fight city hall, as the old saying goes... But America today isn't a simple fight against city hall, it's a fight against my country that has become a totalatarian nightmare. Anyway, It is well worth the listen...
http://maxkeiser.com/2012/01/21/ote141-on-the-edge-with-gonzalo-lira/
Not only did the DOJ do nothing about MF Global, but Obama went on national TV and proclaimed that there was no crime committed even though no investigation had even begun.
MF Global was a dry run. If they can pull it off to set a precedent that rehypothecation is legal -- look out!
It'll be the major feather in the cap of the TBTF to carry on as usual.
BTW I'd like a link to that Obama statement -- can't seem to conjure it up.
Obi claims he's been working on foreign tourists to re-invent the jobless American economy.
It will be necessary, of course, that fondling and groping at the airport become desired routine for strangers.
Other than that, it sounds like a winner...
"fondling and groping at the airport become desired routine"
LOL ... Sex tourism to America!!
Max is melodramatic and likes to hear himself but he is a force of good in the world.
when the rule of law becomes the "biggest club" or knives vs lead, hope you are prepared(or have a good exit strategy-smartest).
classic flight vs fight - right out the back door to a vantage point in the cover of dark; then join your pack and think like a wolve!
hope you know who your friends are? sure won't be those who are in charge...
http://www.foxbusiness.com/industries/2012/01/20/sec-neither-admit-nor-d...
Yes, the US justice and legal system has no legitimacy.
Now, American white people are finding out what it has been like, for the several hundred thousand innocent black people being jailed and put to death in USA prisons.
The US Courts are FAKE and a FRAUD ... the US judges are GANGSTERS ... most US lawyers are the MAFIA or people afraid to oppose that mafia ...
The US revolution will roll at last, when these facts are understood by enough people.
Speak the truth! De-legitimise the US system!
As 'George Washington' is well on his way to doing via his brave postings on ZeroHedge.
The US revolution will roll at last, when these facts are understood by enough people.
Speak the truth! De-legitimise the US system!
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The US citizen nature is eternal, it is true. There will be no revolution because this is actually for this kind of system, US citizens rioted against the King's rule, more than two thousand years.
Then US citizens willingfully ignore the bad sides of US citizenism.
Today, the world resources are no longer enough to support that number of US citizens in all their priviledges.
Some are slipping from the bowl and suddenly, can no longer ignore the bad sides because they are the targets now.
There is no change to expect from US citizens. Vocal US citizens are simply US citizens who are losing their US citizenism membership and have only one wish: get it back.
Give them a seat back in the group, push another one under the train, and watch, better that one than me US citizen typical reaction.
You fucking eurotards are clueless. You idiots have been living under the fascist EU for two decades and you think your system is legitimate? You're fraudulent court systems put hundreds of thousands of innocent Muslims, blacks, and Asians in prisonand immigrants are the victims of violent white eurotards who rape and murder them in the big cities.
What you say makes no sense considering that our president and the attorney general are both black...
How can anyone in our country have faith in our laws with leadership and a department of justice that are so obviously in the bag for organized crime? Why should I obey laws when Jamie Dimon does not? Oh, I know why...cause Jamie has a get out of jail free pass and I don't! Must have something to do with campaign money. Wow! So much for character and moral values. Time to put a few of these fuckers down!
What you say makes no sense considering that our president and the attorney general are both black...
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No. Irrelevant.
US citizenism is based on institutional power derived from the consent of we the People, not on personal power.
Obama is your typical US citizen.
His presidency has exposed him as having little to none personal power.
Has this US citizen president abuse institutional power just it is typical in US citizenism? Absolutely.
Has this US citizen president abuse personal power? No, cant do.
As the US is a racist country, anyone in charge of the institutions of power and with no personal power can do only one thing:
furthering the best interests of the institutions.
No matter the creed, the colour, the gender, the exercize of US institutional power has and will always follow the same path.
No change.
William K. Black, the former S&L prosecutor is the ultimate evidence of our complete corrupt decline in the last two decades. No major media will give him time but he has very important things to say about current events.
http://www.thecenterlane.com/?tag=savings-and-loan-crisis
http://www.youtube.com/watch?v=_txiRtAbeaI&feature=related
Here's the actual Keiser Report link for that YouTube video you reference:
http://www.youtube.com/watch?v=kUyutryL_SY
Davey Jones... Black would be ideal as a special prosecutor since the big banks sponsored the takedown of Spitzer...
From Jesse's Cafe Americain...
"Corzine, MF Execs and JPM Named in RICO Lawsuit
Privately sponsored RICO lawsuits have a difficult time obtaining the types of information that are required to make a conspiracy case unless they get lucky in the discovery process or find a willing whistleblower. The defendants generally lawyer up and stonewall, using the types of court maneuvers that prove so effective in mortgage fraud cases, theft of customer funds, and mass foreclosures based on forged documents.The chances of an Obama Administration investigation with teeth seems unlikely. Their Justice Department has strong ties to the big banks and mortgage companies and a very poor record of prosecuting fraud cases." http://jessescrossroadscafe.blogspot.com/2012/01/corzine-mf-execs-and-jpm-named-in-rico.html
Yes, you would deal and I would deal but the rest of the criminals in control will not. Our government, including the third branch, is now a key defendant in any RICO action, hence the problem.
Exactly. The SCOTUS has been totally stacked and is waiting in the wings to protect DC's position against any legal challenges by the states or the citizens.