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"Bank Lives Matter" – Obama Administration Moves To Protect Mega Bank Profits
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
Three top Democrats are accusing the Department of Housing and Urban Development of quietly removing a key clause in its requirements for taxpayer-guaranteed mortgage insurance in order to spare two banks recently convicted of federal crimes from being frozen out of the lucrative market.
HUD’s action is the latest in a series of steps by federal agencies to eliminate real-world consequences for serial financial felons, even as the Obama administration has touted its efforts to hold banks accountable.
– From the Intercept article: Obama Administration Finds New Way to Let Criminal Banks Avoid Consequences
Two days ago, I highlighted a feel-good story about how officials in Santa Cruz County decided to take mega bank criminality into their own hands by voting to cease business relationships with five criminal TBTF mega banks. Here’s an excerpt from the post, Santa Cruz County Votes to Cease Doing Business with Five TBTF Mega Banks:
“There seems to be no limit to the greed in some our nation’s largest banks. I believe it is critical that the County only work with the most trustworthy institutions as we invest and protect the public’s tax dollars. Santa Cruz County should not be involved with those who rigged the world’s biggest financial markets.
It is important that we send a message that if you want to do business with the County, you need to play by the rules. Therefore I recommend that the Board direct that the County’s investment policy be modified to reflect that the County of Santa Cruz will not do new business with these felonious financial institutions for a period of five years and further that the County unwind existing relationships with these five banks to the greatest extent feasible.”
The board, acting on a request (pdf) from Supervisor Ryan Coonerty, voted to “not do new business for a period of five years with Citigroup, JP Morgan Chase, Barclays, Royal Bank of Scotland and UBS as specified, and further direct that the County unwind existing relationships with these five banks to the greatest extent feasible.”
Unsurprisingly, the federal government, under bank coddler extraordinaire, Barrack Obama, has decided to take a different tact. When “guilty pleas” threatened to exclude JP Morgan and Citibank from making certain FHA–insured loans, the Department of Housing and Urban Development (HUD) immediately came to the rescue and changed its own documents without telling anyone and without allowing for public commentary.
David Dayen at the Intercept did an excellent job covering this developing story:
Three top Democrats are accusing the Department of Housing and Urban Development of quietly removing a key clause in its requirements for taxpayer-guaranteed mortgage insurance in order to spare two banks recently convicted of federal crimes from being frozen out of the lucrative market.
HUD’s action is the latest in a series of steps by federal agencies to eliminate real-world consequences for serial financial felons, even as the Obama administration has touted its efforts to hold banks accountable.
Sens. Sherrod Brown and Elizabeth Warren and Rep. Maxine Waters fired off a letter to HUD on Tuesday, saying they believe that the timing of the change was designed to clear the way for two banks recently convicted of federal crimes — JPMorgan Chase and Citigroup — to continue to make Federal Housing Administration-insured loans. Last year, JPMorgan Chase wrote $1.67 billion in FHA loans, and Citi wrote $342 million, according to data from the Congressional Research Service.
On May 20 of this year, JPMorgan Chase and Citigroup both entered a guilty plea on one felony count of conspiring to rig foreign currency exchange trades, the largest market on the globe.
On the current HUD-92900-A form, lenders must certify that their firm and its principals “have not, within a three-year period … been convicted of or had a civil judgment rendered against them” for a variety of crimes, including “commission of fraud … violation of Federal or State antitrust statutes or commission of embezzlement, theft, forgery, bribery, falsification or destruction of records, making false statements or receiving stolen property.”
JPMorgan and Citi’s guilty plea would fall under the antitrust statute, and according to Brown, Warren and Waters’ reading of the certification, that would make them ineligible to obtain FHA insurance on their loans.
On the updated form, this language has been excised. The notice in the Federal Register did not even mention the removal, making it impossible to discover without comparing the old form and the proposed form side by side. The Wall Street Journal ran a story about the certification changes in May, but failed to notice that the new language would let law-breaking banks off scot-free.
The day before HUD released the notice in the Federal Register, the New York Times reported that the Justice Department sought to lessen the consequences of the guilty pleas in the foreign exchange rigging case, ensuring that federal regulators would not use the pleas to bar banks from certain business lines.
The “Justice Department” has merely become an Orwellian joke at this point. There is absolutely zero justice being distributed, and its primary function appears to be the defense of cronyism.
As someone who has been studying the U.S. economic and political situation 24/7 for over five years now, I can tell you that without question, the single greatest threat to liberty, free markets and prosperity in America today relates to the criminal, parasitic and unaccountable financial system’s cozy relationship to the U.S. government in Washington D.C.
Until this unholy alliance is shattered to pieces, there cannot and will not be any real change in these United States. As such, any “anti-establishment” candidate who fails to make this their number one issue (i.e., Trump), is nothing more than a phony, fraud demagogue.
It’s not even “Too Big to Jail” any longer. It’s now, “Too Big to Lose Profits.” After all #banklivesmatter
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Bank are not evil. Capitalism isn't evil.
Time to get rid of fiat and central banks.
Speaking of banksters…
Once upon a time in Europe, a really bad dude "Who-Must-Not-Be-Named", in order to reduce public transportation’s losses caused by fare-dodgers, gave an order to execute a few of them. The next day, a train was stopped and a handful of fare-dodgers were pulled off the train and shot dead in front of the whole train of people. Brutal? Yes, it’s terrible, but…
This country, almost 80 years later, still has the lowest rates of fare-dodgers in the world!
Awww… Look at that cute puppy!
Loo(ADHD)ney
The FOMC is a front and gets directions from elsewhere.
Start listening at 4:00 to John Titus
http://investmentresearchdynamics.com/sot-ep-43-john-titus-the-powers-that-be-do-not-care-they-spit-on-the-governed/
I just wish the motherfucker would stay home, drink beer and smoke Reggies dick.
He's causing huge traffic delays here in NY. Police everywhere.
... A thing of booty is a joy to plunder ...
What if whatever you could imagine could come true?
http://galeinnes.blogspot.com/2015/07/social-herds-economic-turds.html
Remind me. Who did Eric Holder work for , before and after?
http://www.redstate.com/diary/candicelanier/2013/06/26/sixteen-scandals-...
https://firstlook.org/theintercept/2015/07/06/eric-holder-returns-law-fi...
I am guessing you mean Adolf Hitler as 80 years ago is 1935. I can not find any evidence or article supporting executions of fare dodgers nor can I find any statistics on rates of fare dodging.
I want to beleive you are right, but this claim needs some supporting.
He may have been referring to the man that 'made the trains run on time', who lived and ruled during the approximate same time frame.
Central Bank = nexus of banks and government.
I don't think he gets it.
well private Banks print much more fiat money than central banks, but their money is totally fake.
The use of private bank money is not mandatory.
I can make my own money by issuing credit. The IOU has some value, and risk. It should not be impossible to sell IOUs for legal cash or use them for barter at a discount.
So, printing money, backed by the promise of whoever signed it.
I'm sorry mojojojo.....but Banks and Capitalism are inherently evil because humans are inherently evil.
Let me rephrase that since evil brings to mind Hitler, Pol Pot and Snidely Whiplash.
Those institutions are inherently corrupt because all of humanity is inherently corrupt. The institutions were thought up and ultimately operated by inherently corrupt human beings.
Getting rid of fiat and central banks will not stop the corruption. It just makes the corruption more distributed and granular. In other words....more diffuse on the macro scale. But like politics....all corruption is local. What you may kill in the macro will only continue to thrive in the micro.
You're on Prison Planet baby.....no where to run. What ever form a government or civilization takes....it will all either be destroyed from the outside or crumble from the inside only to be built again on the forgetfullness of the next generation or on the delusions that THIS TIME things will be different.
If you are not a different kind of human......then things won't ultimately be any different in the future, other than how your idea of utopia will fail.
Keep your mental illnesses to yourself, please. Fiat and central banks are products of socialism and communism, not capitalism.
Can Miners get any cheaper lol...man this is a no brainier...I love cheap stocks...
Why, you may ask?
The Finance and Real Estate sector contributed $21,106,073 to Barack Obama during his 2012 campaign.
And who are the largest contributors to both Hillary and Jeb's campaigns again?
I thank God that I look fabulous in jackboots.
I am working on saying "Yes, my evil overlord" with sincerity. Damn North Korean's are pros.
That was a real LOL HH, thank you, thank you. I'm still giggling...
I'm good with the jackboots, but, alas, have a shitty mustache.
They're the NWO's bitches too.
Liberal Obozo repudiates the 1% yet in the same gesture works furiously to protect them. The liberal media spews vitriolic drivel to turn america against the wealthy, yet the media moguls are some of the richest people on earth. Just how stupid are americans to not notice these details?
Very, very, very fucking stupid.
Just how stupid are americans to not notice these details?
Probably about as stupid as the people who think the media is 'liberal' and not just a fabricated construct that will spew what they are dictated, be it support of or against the left or right, rich or poor, as long as it furthers the agenda of the elite that control that same media.
Golden Rule: Who makes the gold, is who makes the rules.
Thank god he's all for the little guy and against corporate cronyism. The just look at all those $50,000 a plate fundraisers he had with all those homeless welfare recipients......
Malcolm X nailed it...
what moron would down vote this
Oh how true this is. Right there is the foundation for the destruction we're witnessing.
Demons will never be saved.
Their only destination is the Lake of Fire.
President Obama issued a statement yesterday urging Americans to respect the religion of Islam before he even commented on a terror attack by an Islamic extremist in Chattanooga which killed four Marines, prompting widespread anger.
The White House tweeted out a statement wishing Muslims “Eid Mubarak!” as Ramadan came to a close, adding that, “the holiday is a reminder to every American of the importance of respecting those of all faiths and beliefs.”
Nailed it.
Tear it down!
End the federal government NOW!
Free John Corzine.
Sorry too late everyone. We lost in 2009. Game over.
I'd say more like '63...
Or maybe '71
December 1913.
Between 1789-1794
In that time you had:
1789: Ratification of the Second Consitution, < the first being the Articles of Confederation > which enshrined Federalism over States' Rights.
1791: The Charter of the 1st Bank of the United States, the forerunner of the Federal Reserve
1791-1794: The crushing of the Whiskey Rebellion by Alexander Hamilton, Secretary of the Treasury and mastermind of the 1st Bank of the United States and with the approval of George Washington. This was brought on by rampant real estate speculation with the complicency of Alexander Hamilton and William Duer using the brand new 1st Bank of the United States which precipitated the Panic of 1792.
To quell the crisis, Hamilton embark on a scheme to collateralize new loans with U.S. Debt instruments, but he also imposed harsh taxes on the frontier, paticularly on Monongahela rye whiskey in Western Pennslyvania. Because it took longer to get to market due to poor or nonexistant roads, the rye whiskey became "aged" in the barrels. The saloons and bars in Philadelphia began to demand this stuff over their rot gut, so trade boomed and whiskey began to be a form of currency for the western frontier. "UNTAXED" currency. The Bank and Hamilton could not have that. So not only was the first bootlegger war provoked, but America's first "Civil War".
And the Whiskey Boys were crushed. By the Bank. By the Secretary of Treasury Alexander Hamilton. By President George Washington.
This period is when America died. At childbirth.
Consider reviewing Volume 1 of the United State Code:
There are four Oganic Laws in that big red law book. All four are still in effect or there is no reason to have them there. Read all four, in order, and play close attention to the third Organic Law that set up a "temporary government" for the Northwest Territory and the fourth Organic Law generally known as the "Constitution". The problem started in the fall of 1787 when the mass of people where kept in the dark about the nature of "The United States of America" and the "United States". Lawyers are not called "wordsmiths" and "liars" for no reason.
Or September 17, 1787.
Probably as far back as June, 1865. At least in terms of the ascendance of Centralized Power.
Dear Jesus, they will never be too big to burn.
Obozo will kneel at the feet of Jesus or die.
Cool story bro!
Tell us another one from the big story book!
" Barry could not be reached for comment. "
Yet the sheep still believe he is a "man of the people" because they get SNAP and a free phone. This fucker has guaranteed profits for the insurance companies with Zero care and to the banks, and enslaved the Muricun people to both.
and yet the sheep still believe he is in control and that this fucker has anything to do with the policy being implemented beyond putting an X where his signature is required.
Time to stop giving this guy a pass. A phone call to the Craft would end the puppet masters's control in a week.
Insurance companies get profits from Zerocare because SCOTUS discovered it was fine to 'tax' people who did not enroll. Apply that concept to banks, and we end up being required by .gov to put our money in TBTF banks or pay a tax to .gov. It's only logical, right? We can call it Zerosavings.
with the low interest rate on savings,
the tax on the interest received,
and the real dollar depreciation rate,
IT IS ALREADY ZEROSAVINGS.
Anybody still doing business with JPMorgan or Citi raise your hand.
It will make a difference when AMAZON switches banks.
(From CHASE)
Monopoly powers over anything breeds corruption. Especially if that was the goal. The Federal Reserve has monopoly powers over money creation. If you have that monopoly power it is a very easy task to buy politicians since you can just print the money to pay them.
In my opinion, the Government’s plan to save the economy by stealing everyone’s money, giving it all to the bankers, setting fire to the place and then fleeing the country is never going to work.
There has always been some fraud in the economy. But never before have we seen 100% fraud where criminals are protected while honest and law abiding citizens and businesses are persecuted.
Eventually, Gov-Co will be all-powerful and will round up everyone who can’t prove they’ve committed securities fraud and thrown them all in prison – which is maybe why the prison industry is growing so dramatically.
I believe we'll see a day when Banksters/Politicians pray to be locked in prison cages, to prevent John Q. Public from ripping their heads off and shitting down their necks,,,
Obama, probably the greatest Con-man of the 21st Century.
why stop at 21st century....I would put him in for all time! As they say it is all timing....who else got to give their cronies $10 trillion Dollars. And banker lives don't matter...as we will see in the not too distance future
It just shows that banksters have the world at gunpoint. Game over not matter how you slice it. Counterparty exposure is global. And when it comes apart, the politicians will hang (and they damn well know it). I figure they are not up to voting for hanging.
Wanna be the first black President, you know what you have to do.
People will eat out of your hands as you rape them, for us.
"Bank Lives Matter"
There should be an internet Oscar/Emmy equivalent for the people that come up with shit like that. Take a bow, Krieger.
I'm sure this will be held against the liberals! Wait until the mainstream press gets a hold of this!
Crickets........
https://youtu.be/K8E_zMLCRNg
Their greed and corruption know no bounds.
Here is the thing. Two banks were sanctioned and yet all of the banks are probably guilty of the exact same thing. Rather than prosecute and clean up all banks, it is easier to just level the playing field and discard the rule of law.
Makes sense to me (sarc).
Don't blame me.
I didn't vote for any of them.
Voting...... LOl..
Ladies & gentlemen, your far-left marxist POTUS... wholly owned by Wall St.
Our "representatives" can do anything they want (the SCOTUS will protect even the most unconstitutional policies) so long as TBTF bank dominance continues unabated.
The 'will of the people' is a mere nuisance.
far-left marxist POTUS... wholly owned by Wall St.
far-left.....owned by wall street. because that statement makes a lot of sense.
AIPAC Cancels Staff Vacations in Push To Kill Iran Deal
"On Thursday morning, Ben Rhodes, a deputy U.S. national security adviser, convened a meeting at the White House of Jewish lawmakers in the House of Representatives. About 15 of the 18 attended, and some were uncharacteristically silent about how it went.
“Congressman Israel has said it was a very informative meeting,” was all Caitlin Girouard, spokeswoman for Rep. Steve Israel of New York, would say after the meeting. Israel signs his statements the “highest ranking Jewish Democrat” in the House."
Isn't that nice - convening a meeting of Jewish lawmakers like that. No need to summon the goyim, just like there's no need to have a "liaison to the Goyim community" in the white house.
http://forward.com/news/breaking-news/312181/aipac-cancels-staff-vacatio...
vacations cancelled? you know it's serious.
"“If I put together a finance team that will make me financially competitive enough to stay in this thing…I may have the first all-Jewish cabinet in America because of the pro-Israel funding. Bottom line is, I’ve got a lot of support from the pro-Israel funding.”"
- Lindsey Graham (R) Israel
http://mondoweiss.net/2015/07/discovers-elephant-billionaires
It is unwise to judge a man by his words. To know the truth, he must be judged by his deeds.
The Jews might want to wake up and smell the roses. Their headlong rush to embrace multiculturalism has opened the flood gates into this country for a group of people that would like to have their heads on a stake. The black liberation that they so rightly championed during the civil rights movement has not resulted in the election of an African American. It has resulted in the election of a Kenyan national who happens to be Shia Muslim. He is certainly not a champion of the Jews. He is not a champion of multiculturalism. He is a champion of the chaos it brings. The multiculturalists are mixing of oil and water. At the moment it may seem like a great mix, but over time the oil and water will separate. When that happens, Muslims in America will gravitate towards a single source, the Nation of Islam. The Jews might want to listen to what Louis Farrakhan preaches from his pulpit. There is no future in his world for them.
Ironically the WASPs whom Jewish liberals so vehemently detest are the one group that will side with Israel in any conflict that threatens Israel’s survival because it is written for them to do so in their scriptures.
After the collapse, someone needs to start a website like Crimestoppers, instead provide info on the wherabouts of a politician or banker.
That Barack Obama is turning the country into a socialist commie paradise by consolidating the power of a few banks and their corresponding oligarchs.
It's socialism run amok. Control of the country is being consolidatd to the rich and powerful. The government is controlled by banks and co opted by large corporations. It's socialism to the nth degree.
This socialism, commie shit has got to stop. This is something only a right wing president can stop.....like the Donald.
Where does Trump stand as far as TBTF banks are concerned? The only one I've heard talking about breaking them up is...Sanders.
(I'm a reformed staunch non-voter so I don't really give a fuck.)
i was kidding. You're so funny thinking that any politician matters.
Studying the different specimens and how their lies vary is a morbid hobby of mine. How they manage to thrive in that septic habitat and still manage to appear human is fascinating.
Fascism is more like it. Crony capitalism too.
Collectivism actually worked...so it was destroyed.
Socialism? This is not socialism. Creeping tyranny yes, but socialism, no. This is corporatism.
nope. It's socialism, and commies. And the FSA, and groids, and the wookie and Potus. It's their fault, and libtards too. It's socialist pinko commies who starting in 2008 have turned the country to shit. Socialism. We need to stop it.
don't downvote me. downvote socialism
dupe. I'm a dupe. duped.
http://i.imgur.com/vqyr1y0.jpg
Outstanding!
DC has given the banks a free pass to commit huge financial crimes because of national defence reasons. Labelling them SIFI's and TBTF etc has emboldened bankers to break the law in ways we could never have imagined they would ever get away with. The banks and politicians have made it clear to everyone that there is no serious rule of law in the USA today.
The only reason people are not taking to the streets with AR15s is becuase they are doped up and surpressed by welfare. When this is not enough, the masses will elect an extreme party to prosecute these financial crimes. Bankers will be prosecuted and all I can say is that I hope we strip these banker's familys and their children's children of all their worldy assets when that judgement day finally comes.
Oh... and "Hang the fucking bankers!"
JP Morgan runs the SNAP program. Got it? A computer glitch, a software malfunction and the whole system burns down. JP’s got us by the short hair. If we threaten them, they will flip the switch.
HUD is FUCKING EVIL.
they make ghettos everywhere they go.
Worse then evil -Read catherine Austin Fitts
http://www.dunwalke.com/7_HUD_is_a_Sewer.htm
Find foreclosed home that is empty. Find the latest assignment of mortgage or deed of trust filed at court house. File new assignment of mortgage (deed) from the bank to new party, your company LLC but not in your name, of course. Use the normal crooks, Fidelity, Corelogic, etc., to make that up including notary public that they use. Then rent out home to new folks. Use all fake documents ( they will look real just like the banks fake docs) and use dead phones ( untraceable ones ) and fuck with the banks.
They will have a real mess on their hands and you can collect rent.
Naturally the above is for entertainment only....
Think about it.
Junior Senator.
Came from "nowhere".
Member of the Senate banking committee.
Yup.
Keep voting.
""My administration is the only thing between you and the pitchforks," the president told them.
http://blogs.abcnews.com/thenote/2009/04/obama-to-banker.html
awesome link!
Not exactly. The Justice Department is the enforcement arm of the Muslim Brotherhood, with a subsidiary arm that goes after those who are in the Liberty movement.
Just wait til we finally see what is in store for us with TTP, TISA and TTIP.
I think it will be a lot of socialist, commie stuff. That' what usually happens when multinational corporations dictate legislation.
Time to vote against all incumbents in the primaries. In sheer percentages we will have fewer sociopaths in Congress.
VOTE???? REALLY?
Baaaaa! Your comment is more ignorant than the article of the armless UKRAINE guy getting drafted. Vote yourself back into the stable.
By far the biggest 'joke' being played, is on those who still think this is all 'political' ideology in the works, to be pinned on the most evil 'Left-wing' or 'Right-wing' politician, when in fact it's always been about $$$.
"I don't understand what this means to my liberty because I'm too busy waving the flag and hating Muslims who live 8,000 miles away."
The muslims do not live 8000 miles away. They are everywhere.