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Programming note: later today, I’ll be hosting a special FDL Salon with William Black, professor at the University of Missouri-Kansas City and the author of The Best Way to Rob a Bank is to Own One. Black specializes in white-collar criminology, and in his time as a federal regulator, he helped put over 1,000 financial executives in jail for the savings & loan crisis.
Needless to say, we don’t have that kind of a regulatory apparatus with that kind of will today. The financial crisis of 2008 was over 70 times the size of the S&L debacle, and yet nobody of consequence has seen jail time for it. In fact, instead of prosecution, we’re seeing settlements where banks don’t have to admit wrongdoing, settlements where banks can profit off of the penalties they’re given, settlements where the banks can pay off some of the penalty with someone else’s money. We’re always told about the next investigation, about the next task force, about the next hope for accountability. Bill Black’s seen this before, and he knows exactly what a federal official with the proper amount of will and resources could actually accomplish on this front.
We’ll be talking today about foreclosure fraud, the recent settlement, and the going-forward task force on securitization issues. And you can catch it at FDL from 2:00pm-3:30pm ET today. Black will be in the comments to answer your questions. I hope you can join us.
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Should be fun. Thanks David!
Looking forward, as they say (in my case, with genuine and sincere anticipation), DDay.
Thank you.
DW
what’s the point. bill black can talk till he is blue in the face nothing will happen.
check out this story. what is strange there have been rumors about this on the net for year
http://www.zerohedge.com/news/why-were-trillions-fake-bonds-held-chicago-fed-crates
read the story zerohedge posted there in a pdf or check it out on the divine website. i read this story a long time ago and thought it was crazy, but now…………………….
and here is what someone posted which sort of sums up what is said in the pdf
These are not fake bonds, They are some of the 1934 gold swap bonds issued by the federal reserve as bearer bonds. They belong to various Asian families. This story is pure propaganda. They have nothing to do with plutonium purchases. This is just a clumsy attempt to connect them with terrorism and the mafia. The story claims that these could “be destabilising” but that a brass faced lie because all bonds including bearer bonds can be checked. No one is going to cash bonds for these amounts without verification. (At least on this planet).
These bonds were supposed to be redeemed for gold in 1994 having been issued in 1934 on a 60 year swap basis. The Fed reneged, got sued and lost the case in 1998. They were supposed to hand over the gold on September 12th 2001. Cantor Fitzgerald were doing all the paperwork but they got blown up in a controlled demolition on September 11th and some of the gold mysteriously disappeared from the WTC basement on Sept 10th.
The very fact that this is reported at all shows that they cannot hide their dirty secret anymore. This is the third time these bonds have surfaced in the last few years. On the last two occasions the elite tried to steal them. Obviously this time they are trying to seize them and claim they are fake. (It’s ridiculous to suppose anyone would attempt to fake bonds with such values as they could easily be checked by the issuing authority)
The owners have all the documentation and most of the bonds are in special bronze boxes. They have receipts, signatures and the original contracts.
Now you know why the Fed can never be properly audited. It’s all confirmed but locked in secrecy otherwise the entire Fed is going to jail and the plans of the global elite are dead in the water.
These bonds and the Fed’s refusal to honour them represents the greatest theft in world history. If they can’t keep a lid on it the whole world is going to know that 9/11 was an inside job and the so-called credit crisis was planned to take the whole system down.
What a get, David. You continue to amaze. Thank you.
HOLY SHIT!
Will you show up at the chat and talk to Mr Black about that?
That is INSANE, if true.
Tweeted
https://twitter.com/#!/janehamsher/status/170555556153655296
Most interesting, ms winkle, most interesting, indeed.
As well, as some may recall, building #7 was NOT struck by jet planes, and it “collapsed” in a fashion that is familiar to any who have observed planned, and controlled “demolitions” … additionally, such “residue” of building #7 as was not immediately carted off, is said, by numerous reputable investigators who analyzed the “residue”, to contain material evidence consistent with such an intentional “collapse” …
Ah well, it shall forever remain a minor mystery … just one of those completely inexplicable “magic-bullet” moments … which America, bless her Heartland, seems, periodically, to attract.
Enough then, of “conspiracy” talk, as everyone knows that “it” just can’t happen “here”.
DW
Enron trial records and evidence in building # 7 per chance, as luck would have it, it just so happened.
DW some minds are in the same gutter.
The enigma of building # 7 ?
And all the Peasants yell, HUZZAH!
How do we access this?