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Guest Post: Too Big To Jail Is Here To Stay
Submitted by John Aziz of Azizonomics blog,
Lanny Breuer, the Assistant Attorney General who claimed that prosecuting banks for crimes poses a risk to the financial sector and so corrupt bankers are “too big to jail” has lost his job:
MARTIN SMITH: You gave a speech before the New York Bar Association. And in that speech, you made a reference to losing sleep at night, worrying about what a lawsuit might result in at a large financial institution.
LANNY BREUER: Right.
MARTIN SMITH: Is that really the job of a prosecutor, to worry about anything other than simply pursuing justice?
LANNY BREUER: Well, I think I am pursuing justice. And I think the entire responsibility of the department is to pursue justice. But in any given case, I think I and prosecutors around the country, being responsible, should speak to regulators, should speak to experts, because if I bring a case against institution A, and as a result of bringing that case, there’s some huge economic effect — if it creates a ripple effect so that suddenly, counterparties and other financial institutions or other companies that had nothing to do with this are affected badly — it’s a factor we need to know and understand.
But the man who put him there, and who is ultimately responsible for the policy — the Attorney General himself — is here to stay.
Attorney General Eric Holder expressed similar views in the context of discussing why more severe charges weren’t brought against Zurich-based UBS AG last year for manipulating the London interbank offered rate. And Neil Barofsky, a onetime senior prosecutor and former inspector general of the Troubled Asset Relief Program that administered the bank bailouts, provided a scathing assessment of Justice Department policy.
The Justice Department likes to quote Thomas Jefferson: “The most sacred of the duties of government [is] to do equal and impartial justice to all its citizens,” a line that appears in its latest budget documents.
This sentiment is hardly consistent with saying that some companies have characteristics that put them above the law. Jefferson himself was very worried about the concentrated power of financiers — he would have seen today’s problems much more clearly than do Holder and Breuer.
Fundamentally, Obama’s continued support for Holder illustrates that Obama is still committed to the policy of holding financiers to a lesser standard of justice than other citizens.
The continued failure to implement even the Volcker rule — let alone a Glass-Steagall-style separation between retail and investment banking — illustrates that Obama is committed to letting bailed-out banks continue to operate in the risky manner that led to the crisis. So does the total failure to ensure a level playing field for retail investors in a market now totally dominated by algorithms.
The big banks continue to ride roughshod over the American people with the complicity of the political class. Too Big to Jail is an affront to the Constitution, an affront to the Bill of Rights, an affront to those like Rosa Parks, Martin Luther King, Lysander Spooner, Frederick Douglas and all those who at various times crusaded to make equality before the law a reality in America.
The only sensible way forward is that lawbreakers on Wall Street must be prosecuted in the same way as other lawbreakers. That means that Eric Holder and all others associated with Too Big To Jail must lose their jobs.
But I doubt that will happen any time soon.
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Holder is the most corrupt AG we've every had- I thought Alberto Gonzales had created the gold standard in corruption, too!
as illegals will be given a path to citizenship, so have the banks been given a path for their crimes to become legal.
next up will be a path for pedophiles to take that will make sodomizing your child legal as well. but at least the north to south path of guns will stop now that operation fast and furious is over.
You might not understand the process..
Normalizing pedophilia is scheduled AFTER normalizing polygamy.
“Who are you to tell me what love is who and I am allowed to love”.—works for all former deviancies but it takes time for the successive inoculations against antiquated moral thinking to work.
But make no mistake.. the kids ARE the golden ring.
Welcome to the New Improved America where today Justice is not only BLIND but it's DEAF, DUMB and STUPID to boot...
Oh right... one more thing... BOUGHT!!!
In America. Some animals are more equal than other animals.
Thomas Jefferson
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
- Thomas Jefferson
It's a good thing we have at least one opposition political party that American Voters can choose to bolster, in order to stem, reverse and punish the corruption/malfeasance perpetrated by the party in power, along with a constitutionally enshrined system of checks & balances.
BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!
We do have a libertarian party sir.
Looks like since the S&P threatened a downgrade of the US, Holder jumped right on that with his charging them in Civil Suit over some mortgages in CA from 6 years ago. You were saving that one for the downgrade weren't you Eric. Had it in your back pocket for a couple years just waiting for the threat to downgrade the leftist in chief. You sly little devil you.
Welcome to justice KENYAN style. where we screw the little guy and bend over for the big guys. we'll africanize all you rednecks in no time.
It's far more than the right of the people. It's the obligation of the people!
But it sure can play a mean pinball.
Yep, and don't forget about incestuous relationships too. With those it will be mostly about money and financial benefits as the family unit comes together because of economic hardship. Multi generaional families in one household. One example will be older brothers and sisters will get marital benefits as "domestic partners".
Yes, the kids are the golden ring, and the new laws legalizing same will be retroactive.
'Nuff said.
They didn't erase those videos they made back in 1989.
I thought Barney Frank left politics?
....and I always assumed that he was a gay bank lobbyist....so go figure!
So, Holder will be able to appear in public with his 10 year old male love slaves, after he legalizes NAMBLA.
/sarc
Senator Robert Menendez-D NJ is know for raping little girls in the Dom Republic and Harry Reid backs him.
This is a Obam and Christie take down. Christie is a RINO sell out like Rubio and now Limbaugh.
Freddie, you know that Christie is from NJ, right? Everything is for sale in NJ, Obama bought him off with Sandy money. I submit bids to schools in all 50 states, and NJ has the largest pile of paperwork for "anti-corruption" I have ever seen. (Texas is second, CA third, and LA fourth, btw.) They are all there for the money to start, so accusing them of selling out is pointless; it's the reason they are all there in the first place.
johnQpublic: we're already there.
see http://www.unexplained-mysteries.com/forum/index.php?showtopic=216285
and http://www.survivalistboards.com/showthread.php?t=194826
and http://gawker.com/5965325/does-this-child-sex-offender-have-what-it-takes-to-replace-jesse-jackson-jr-in-congress
and http://usnews.nbcnews.com/_news/2012/12/12/15868303-sen-menendez-employed-intern-who-was-illegal-immigrant-sex-offender-ap-reports?lite
as illegals will be given a path to citizenship
I suspect that FEMA camps will be full of people who demanded precisely that to be done to others.
I think more to the point, he is a weakling. He knows right from wrong, good from evil and chooses evil because it is safer.
Umm... it's government. Moral weakness is a prerequisite.
With a few rare exceptions, anybody with any sense of morals would never seek such power, knowing that nothing but corruption abounds.
Weakling ... coward, take your pick. I am so sick of seeing that face of his with its perpetual hangdog expression.
"Oh woe ... poor, poor me! What can I do? ... you people just have no idea the pressure I'm under."
Here's an idea, Place ... if you have a shred of decency left ... RESIGN.
What did you expect from a Clinton appointment?
Holder is the most corrupt AG we've every had........
I remember seeing posters all over Washington, DC circa 1986 reading...."Meese Is a Pig." That would be Edwin Meese, AG for Ronald Reagan. I had to go back and look into it. It was all about the WedTech scandal. WedTech was a NY based defense contractor. The total rip off of the public was some $750 million. Of course that was a lot more purchasing power back then. Solyndra was $535 million. Timmy Geithner wrote Goldman a $20 billion check to make good on the puts it held against AIG and purchased from AIG because AIG couldn't pay - so somebody had to pay and it was the taxpayer. Where was Holder?
Oh. I forgot. Meese was driven from office over that iddy-biddy $750 million.
Yeah. We can put Holder in the AG Hall of Shame.
Of course there are those who contend that Bobby Kennedy did in Marilyn Monroe, but that is a whole different story.
Jim Sinclair (of gold traading fame) seems to think that Holder is on the ball when it comes to prosecuting ratings agencies......who are about to downgrade the US debt. Hey!!! It's what they do in Chicago. You got a problem wit dat????:
Jim Sinclair’s Commentary
Did the S&P recently threaten to downgrade the USA if there was no viable solution to the Fiscal Cliff and the Debt Ceiling delay?
S&P says U.S. to file civil lawsuit over ratings
Mon Feb 4, 2013 3:07pm EST
(Reuters) – Standard & Poor’s on Monday said it expects to be the target of a U.S. Department of Justice civil lawsuit over its ratings of mortgage bonds prior to the recent financial crisis.
The lawsuit against the McGraw-Hill Cos (MHP.N) unit focuses on its ratings in 2007 of various U.S. collateralized debt obligations (CDO), S&P said.
It would be the first federal enforcement action against a credit rating agency over alleged illegal behavior tied to the financial crisis.
"A DOJ lawsuit would be entirely without factual or legal merit," S&P said in a statement. "The DOJ would be wrong in contending that S&P ratings were motivated by commercial considerations and not issued in good faith."
The Justice Department was not immediately available for comment.
Several state attorneys general are expected to join the case, The Wall Street Journal said, citing people familiar with the matter. The expected charges follow the breakdown of talks between the department and S&P, the newspaper said, citing the people.
Your correct, he's the most corrupt AG in the history of AG's.
Don't forget Webb Hubbell - although he was only associate AG (3rd in line), he was actually convicted and sent to jail. His job was mainly to defend Clinton by keeping silent on what he knew, while killing and stonewalling investigations before they could reach the impeachment stage. Whitewater eventually got past him, though.
Holder seems to be one in a long line of stooges put in the Just Us department to spy and keep their Presidential patrons out of hot water. Anyone who supports Hillary for any future office should remember how corrupt she was the first time - cattle futures, selling missile technology to the Chinese for campaign contributions, setting aside Escalante National Staircase as a national park to pay off the Indonesian Riady family for campaign cash (preventing low - sulfur Escalante coal from competing with Riady family coal interests), Ron Brown selling seats on Commerce Dept. junket flights, selling nights in the Lincoln Bedroom to cronies - and multiply that corruption a hundredfold, with her in charge for real.
Why anyone trusts any Clinton with anything is beyond me - their evil is demonstrated, documented and un-deniable.
See what SCJ Louis Brandeis thought of banks and bankers...free ebook written in 1914, just after creation of the FED...
"Other People's Money and How The Bankers Use It" brandeislother09other_peoples_money.epubHe will get his.
They will get theirs.
Also, FUCK YOU HOLDER.
It isn't just the US.
Show a Eu banker that has gone to jail (yet!).
At least during the S&L shit, we were faked into believing there was such a thing as punishment.
I can name quite a few back in the mid to late 1930's.
Well, maybe you were. I've been too busy my whole life observing the "Just Us" system to be taken in by the scam.
Eric Holder is a black bigot and a corrupt criminal. The TBTF supports him financially, and he will never prosecute. He's just another POS criminal that deserves to be hanged.
No joke. If we had real law and enforcement, this son of Beria would be doing hard time after a genuine trial.
I suspect him far more corrupt than his boss, the Imam.
He is a known racist, a suborner of perjury and, possibly, murder, illegal narcotics distribution, and gunrunning.
In WW2 this fiend would be hung upside down in the public square with his skull crushed, a la Mussolini.
In his mind, all whites should be exterminated, and Islam should rule.
Forward, Soviet!
"In his mind?"
LOL WUT?
Since when do puppets have beliefs? And how can you hold such childish beliefs that puppets are actually alive?
POTUS is a ROLE.
To not realize this is to be self-enslaved by fairy tales.
Street light serenade...
Holder in the pokey.
Breuer in the hoosgow.
Timmy in the big house.
Barry O. up the river.
Corzine ? Sleeping with the fishes.
Stop it. I'm getting all misty.
Justice?
LMFAO!
What justice?
The only justice to be gotten will come from the muzzle of an M-16!
Dats rayciss.
No love for 308?
"All animals are equal, but some animals are more equal than others."
and as the great Mark Twain said "I did not attend his funeral but I certainly approved of it"
this is a MUST SEE or read transcript
Matt Taibbi on Big Banks’ Lack of Accountability
http://billmoyers.com/segment/matt-taibbi-on-big-banks-lack-of-accountab...
and good post here
Barack Obama, Wall Street Co-Conspirator?
http://billmoyers.com/2013/01/31/barack-obama-wall-street-co-conspirator/
comment on Matt Taibbi on Big Banks’ Lack of Accountability http://billmoyers.com/segment/matt-taibbi-on-big-banks-lack-of-accountab...
nosohappy • 2 days ago
Taibbi talks about the fabric of society, but I think it is already pretty much in tatters at this point. What isn't being talked about is the cultural (and not just economic or legal) changes. "Management" in American businesses have developed a full-on predatory attitude towards their own employees, and anyone else they can make a buck off of. Most people that I know are stunned at the way management has turned on their employees like hungry wolves, and are still nosing around for bits of flesh they may have missed.
This isn't just an economic or legal issue, this is a gargantuan change in the dynamics of how a society functions and interacts. I'm not a historian or anything, but it reminds me of pre-independence India, where there is a rigid caste system - and if you're not in the right caste, there's no justice or fairness. Americans are a little bit in shock and denial that something like that could be happening here, and so quickly, but all the signs says that it is.
+35
I'm afraid you might just be spot-on there KM.
The coup has already taken place. Most just don't realize it yet.
Dude; I'm trying to eat lunch..............
That will be most difficult to "unsee".
Like witnessing a train wreck. It's horrific, but you just can't look away.
This must be at least the 50th time I've said "that is the most disturbing picture I've ever seen on the web" looking at his stuff. Yet I keep coming back again and again.
Like you, I too am a sucker for Banzai7 punishment. :)
This is my self assumed role.
When the crony bitch needs slappin, I'm the one who slaps it.
I'm not writing finely tuned law review articles. Those don't seem to accomplish much of anything nowadays.
Nope, I'm the visual crony bitch slapper and there's still plenty of slappin that needs to be done.
You should make sets of picture cards so we can educate the unwashed masses.
A deck of playing cards!! That's it. It'll make millions. Just send my modest percentage to my local bankster, "Full Faith and Credit" Johnson.
Reminds me of the crazy wife of Eddie Murphy in one of his movies who ended up as a strip dancer in Mexico... the bankers will get a bullet in the mail.
All it needs is Dear Leader in the background, dressed up as a pimp
Norbit (film)
Rasputia (wife)
Tremendously underrated flick.
I love the pink lip gloss and the skillful use of the eye liner.
You are magic Banzai7. :>)
Did you pull this photo off of a SEC computer screen saver?
Ah, the most appropriate image yet for these global prostitutes
high on Reserve Crack
pushing anything to the higherst bidder
selling their children to the street vermin of the world
Obama & Holder are doing 'somebody elses' work... Which makes them both corrupt & stupid...
Thank God.
If Obama were to replace Holder with another place holder Wall Street might actually have to flush the market to show who run Bartertown.
Bank Nigga
Da 'Bruthas' stick together!
"Fundamentally, Obama’s continued support for Holder illustrates that Obama is still committed to the policy of holding financiers to a lesser standard of justice than other citizens."
This is written as if Obama oversees the financiers rather than the financiers oversee Obama.
I think it is more a matter of peak-a-boo.
Then again.....maybe not. :)
wish they'd be more boo about the peak
I can see no discernable difference between TBTF banks and the government at this point. Period. No way to say where one ends and the other begins.
(Don't make me break out the Dr. Who references here, because I can. I withold purly out of respect for my fellow Zero Hedgers and the fact it may tend to make me look like a super-geek.)
"But I doubt that will happen any time soon."
+1
Holder worked for the banks before DOJ (representing them as a defense attorney), and continues to work for them at DOJ. His job is easier now, because he no longer has to go to court, he just quashes the charges from his desk. The same thing Mary Jo White did prior to her being appointed head of the SEC. And if confirmed we know exactly what she will do when she gets there. Obama is a leftist scumbag with zero respect for our constitution and zero respect for the rule of law. This is prima facia evidence of that.
What do you bet the bought and paid for leftist media does not cover any of this? It's is so easy a caveman could do it, right Obama?
More anti-Obama ravings from a republican who doesn't realize he is a Republicrat.. the media is leftist? no... it is corporatist,
disrespect for the constitution comes from the whole ruling bankster/neo-con/MI complex as well as the Supreme Court. Obama is offered up as a scapegoat for those who can't look in the mirror and behold the real problem.
It looks like some of the real liberal left types, not faux-liberals masquerading as Democrats are starting to wake up and smell the coffee.
Everyone is "riding roughshod" over the American people, because they are fat lazy and stupid and they build shit products and export nothing but their children's income.
The US political class is 10 years ahead of the rest of the world but the rest of the world is catching up. Americans are gluttonous imbeciles whose wealth is there for the taking. They're too lazy and slow to compete in a flat geopolitical world and so they are being eaten alive by their competitors.
Long may it continue its good for everyone who believes in meritocracy.
Fuck you and your Geographical generalizations. There are quite a few AMERICANS around here who are fed up with the bullshit............
Get back to work dickhead.
B M = Bowel Movement
Suck my cock.
What did I tell you guys about feeding the trolls? it just encourages them.
Don't confuse the American people with their present leadership.
What leadership?
All I see is turkeys voting for Christmas.
You are the dumb bastards who vote these fuckers in.
You're nothing but lazy stupid pork barrel suckers. Don't pretend you're better than your "leaders". You ain't. They're the same as you.
Must be MDB's cowboy cousin, all hat, no brains.
No, MDB_ is sophisticated, but recently less so, satire. Hat guy is just a troll.
A 10 gallon hat on a 2 gallon head...............
Is your avatar the poster on your bedroom wall? The one to which you beat off nightly?
2012 was a total NWO Bilderburg op.
First get any conservatives out helped by Rove/Bush gang. Paul and Bachmann were out. Newt was a CFR blocker for Romney. Santorum had Midwest states stolen by vote fraud after the polls closed or were closing.
So they had Obama Lite just in case. They on election night the swing states and others were stolen. Dems made sure to keep the Senate and Obam got lots of last minute and late night votes for all the swing states.
McCain was also a back up in 2008.
What do cowboy hat avatars and hemorhoids have in common?
Sooner or later every asshole has one.
I know, but he is right.
Damn.
unlike Europe or China right? Do tell.
The political and judicial class of the U.S.S.A. are the lackeys of the bankers.
If Bankers are the meal ticket for the judicial and political class, then cutting off the food supply would seem to be the logical course of action to rid the world of these parasites.
It's banker hunting season.
The political and judicial class of the world are the lackeys of the bankers.
There I fixed it for you.
If the law does not apply equally to all, then it applies to no one at all.
This leaves only one way forward: Mob Rule.
Break out the pitch-forks and sharpen up the guillotine. Go grab yourself a banker and "do the right thing".
Why the hell would you sharpen the guillotine? Grind the edge to make that shit as dull as possible. Make sure it's rusty, too.
So that instead of a clean cut, the head is ripped from the body, and then infected so that the (dead) person gets gangrene of the neck?
The Second American Revolution, like Valley Forge in 1777-78.
Right now for many the body is willing but the spirit is weak; but soon Bitchez, soon..........
Why do you think they want our guns?
Forward!
I see the Gun Grabber in Chief is in Minnesota today making his case for reasonable unreasonableness.
Unfortunately he is and it's creeping me out because that means he way too close to me. There is a ton of anti-gun legislation coming up in the legislature here. Maybe I should contact my state rep? Oh wait, I can't because I don't have one! Thanks a lot Steve!
http://politicsinminnesota.com/2013/01/rep-steve-gottwalt-resigns-from-house-of-representatives/
They have all the economic data...they know how bad it is...they know the endgame...that's why he's backing the bankers and that's why they want our guns.
Kyle Bass said it best when he stated that, "The governments job is not to tell us the truth, but rather its job is to instill confidence." We're in a jetliner running on one engine and losing altitude fast, but the government ordered us to lower our window shades and they are telling us things are fine and we're slowly gaining altitude...until we crash and burn.
Sorry to say, but I think you've hit the nail squarely.
+100
They are also telling the passengers:
"stick your arms out at and start flapping" and
"the people that built this crashing inferno are your friends and if you only do what they say again, this time everything will work out fine" and
"the more you spend the more you save" and
"your vacation destination in hell is just a mouse click away"
OT but why no post about Herbalife yet? They dropped 4% today: http://www.bloomberg.com/news/2013-02-04/herbalife-drops-after-report-of...
Time to declare Ackman winner or ..?
HLF is back in the green.
Aw, poo.
Oh well..The Icahn is strong in this one I guess.
Should have known better than to take anything bloomberg writes serious. Upvote for you!
This post is a joke right? It's against the law to break the law in America isn't it? after all, the cops always let me off w/ a warning. Fuck em!
Don't question the Government - look at S&P reward for downgrade.
Holder has more important things on his plate besides worrying about prosecuting some corrupt bankers....He has to develope a plan to disarm the citizenry to protect the corrupt bankers.
Rule of law? HAHAHA!!!
"Barry Get your Gun".
Is DC even part of America? Maybe we need to invade.
Now we know what the people of nazi germany felt when the rule of law was abandoned for fascism... who would have thunk it?? this is going to get REALLY violent.
It's already violent, it's just that the wrong people are being targeted, like poor defenseless schoolchildren. My valuation puts 1 child's life above the lives of all the crooks discussed here daily.
I's very simply:
YOU DON'T BITE THE HAND THAT FEEDS YOU!
so why should the government go after banks
Agreed. Election REFORM is where we need to start if change is to come without violence.
The last election was totally rigged. The NWO also made double and triple sure by knocking out Ron Paul and then Santorum to get us Romney in case the election theft somehow failed.
The Democrats and Democrat voeter plus the RINOs like Rove are the same team.
Constitutional Amendment (assuming the Republic is still standing) that states there has to be seperation of corporation and state or something to that effect would be a good start and something the states could do to bypass these bastards. Problem is the fabian socialist (these people are not liberals, just faux-liberals masquerading as left wing democrats) strongholds like in New York, Chicago, California etc. are going to be an impediment.
Cut the whole cancer out at once and have a portion of tax revenue go towards elections and salaries. No special interest monies period from any groups. If they are going to be on the take only allow them to be on the take to the populace they are elected to serve.
Corporations are not people regardless of what the courts say. They are nothing more than groups of individuals, just like government or anything else. They are groupings of not an actual person.
The unions need to be politically neutered, too. Usually, the union leadership supports positions/candidates/legislation that are opposed by their members. The large unions should be broken up - anti-trust style. Any more, the unions are just a Democrat funding mechanism, with representation of their members being a distant second priority.
Eric [dick] Holder has decimated the rule of law and shattered any semblance of criminal justice in the USA. Like banks and fraud money, confidence is gone, gone, gone.
Whoever wrote if the faggot-bankers don't have to follow the law, why should anyone else has it absolutely right. Anarchy ensues to the welcome applause of everyone with a conscience.
Breuer and Holder are the laughing stock of "justice."
Eric better stay away from Skittles and iced tea.
Befehl ist Befehl, bitchez. Trials will be in a empty Detroit car factory. Executions right behind the Eccles building.
In colonial era South (and North) Carolina, when the government would not contain rampant criminal activity in the back woods, the people assembled and nominated some from their number to bring evil-doers to justice. They were called Regulators. Later when the Regulators realized the power they controlled, they became a law to themselves, persecuting the lawful but socially undesirable ... the poor and no-accounts. Another group needed to be formed to rein in the Regulators, this group was called the Moderators. Should we form a new Regulator group? The Government Regulators?
Eric Place Holder is a useless seat warmer. Like a Chicago City Hall Ghost pay roller.
Only shows up in public meetings.
The President is behind this of course and behind the President was the Weasel Geithner, bankster mole in Treasury.
lets face it, if you follow the rules and pay your bills on time you are a fucking fool.....i've had few friends try and get mortgage relief as they are underwater big time but there's a problem......they are still making their payments every month so there's no help for them only those who stopped paying can get relief......what a fucked up country.
Banks have so much on that guy, from Oklahoma City to Sandy Hook that he doesn't dare do anything that the the banksters don't tell him to do.
That means that Eric Holder and all others associated with Too Big To Jail must lose their jobs.
- John Aziz
Losing ones command however transitory over an epic whoopsie of this nature can not be punishment enough for acts of state treason, especially those acts committed during times of armed conflict. There aren't any statute of limitations issues with section 2380 et al of 18 USC to be concerned with.
ECB president Mario Draghi gave voice to the sentiment of major central banks that black money must be protected at 100% (plus reasonable carry of course) or else while OECD justice systems insist that prosecuting said treason will destroy world finance reflect the rule our rulers. So world finance and their subservient systems of government MUST give shelter and aid to these channels rendering OECD governing systems fatally compromised by their webs of treason against society and its rule of law.
These dynamics have been elevated to the status of imminent clear and present danger to the national security of the United States by the president and his administration of government. The same holds true in the EU, UK, Japan, China, Russia .. heck, everywhere.
Welcome to the worldwide mafia state in action John
http://www.nytimes.com/2013/02/04/opinion/krugman-friends-of-fraud.html?...
What a tool.
I'll see your Krugman and raise.
http://watchdog.org/65786/study-warns-dodd-frank-could-trigger-financial...
By creating new agencies like the Bureau of Consumer Financial Protection and expanding the role of existing entities like the Securities and Exchange Commission, Federal Reserve and others, Peirce said Dodd-Frank puts the nation’s financial health in the hands of regulators while providing little clarity for the rules they enforce.
Among the book’s key criticisms is the law’s underlying philosophy, that some companies are so large and interconnected throughout the economy that their default would result in disastrous market contagion. The authors contend that Dodd-Frank responds with the sort of regulatory overreach that guarantees government protection for companies that, like insurance giant AIG, are considered too-big-to-fail.
While some regulations have expanded, others have vague constraints, such as the Volcker Rule. Named for Fed chairman Paul Volcker, the rule was designed to keep banks from investing customer assets in risky speculation. But the rule brought more questions about how banks can legally invest, setting up a potential chill in the securities market.
While Dodd-Frank is responsible for much new financial regulation, Peirce said the law provides no oversight for the housing industry that was at the center of the financial crisis. Nor does it clarify government’s role in the home mortgage business.
“Big components like housing finance reform, that issue was totally not addressed by Dodd-Frank,” she said. “That was a huge part of the problem in the crisis, the government’s involvement in (backing mortgages). It made the government more likely to step in and save entities because the government itself was so deeply entrenched.”
The bigger problem: the natural risks of the marketplace have been replaced by Dodd-Frank’s confidence in the wisdom of regulators.
Yeah I wonder why that is? /sarc
Which company(s) board of directors are Dodd and Frank sitting on now hmm?
http://www.linkedin.com/pub/barney-frank/49/515/462
http://www.mpaa.org/about/ceo
"Too big to jail" is probably similar to the thoughts the Sun King and his Consort were having around 1788 in France.
Strange that the best sniper in the world has now suddenly been killed (targeted?).
Fuck I hate EH. He looks like the type who should be bitch-slapped by his boy friend.
Turtle Holder
Holder is the J. Edgar Hoover of our time.
it only takes 3 to form a criminal conspiracy; holder, benanke, geitner