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Tuesday
Aug072012

SPECIAL REPORT: Inside The Department Of Justice’s Unprecedented Failure To Prosecute Big Finance

Yesterday I hinted that there would be more this week on cronyism and corruption within the DOJ as it related to Wall Street non-prosecution, and it has arrived.

Here's the (pdf) report from GAI:

Justice Inaction - Department Of Justice’s Unprecedented Failure To Prosecute Big Finance

It's relatively short, and pretty easy reading.  Discussion of MF Global and Jon Corzine begins on page 10 and runs only about 5-6 paragraphs. Here's an embedded version:

Justice Inaction Report

Here are the first 2 stories we've filed on this report:

CONVICTED: Bush 1300+, Clinton 1000+, Obama 0.0

Five Senior Goldman Sachs Execs Gave $130K To 'Obama Victory Fund' WHILE Eric Holder Was Deciding Whether To File Criminal Charges

 

 

Background reading:

CORZINE CRONYISM BOMBSHELL

Janet Tavakoli - Analyzing the Fraud at MF Global

Email Ties Corzine to Missing Funds - WSJ

Reuters - Eric Holder, Top DOJ Lawyers Were Partners With Big Banks

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Reader Comments (17)

Aug 7, 2012 at 12:21 PM | Registered CommenterDailyBail
Here's a good breakdown...

Report: Cronyism, political donations likely behind Obama, Holder failure to charge any bankers after 2008 financial meltdown

http://dailycaller.com/2012/08/07/report-cronyism-political-donations-likely-behind-obama-holder-failure-to-charge-any-bankers-after-2008-financial-meltdown/#ixzz22rIbNRbP

Transparency another FAIL


JUDICIAL WATCH SUES FED FOR RECORDS DETAILING AIG BAILOUT

http://www.breitbart.com/Big-Government/2012/08/06/JW-Sues-Fed-for-Records-Detailing-Justification-for-AIG-Bailout?utm_source=dlvr.it&utm_medium=twitter

Look at this DB Insanity reigns supreme

Fed’s Rosengren Urges ‘Open-Ended’ Easing Program

http://www.bloomberg.com/news/2012-08-07/fed-s-rosengren-urges-open-ended-easing-program.html

Government Economic 'Stimulus' as Economic Quackery

http://www.economicpolicyjournal.com/2012/08/government-economic-stimulus-as.html
Aug 7, 2012 at 1:13 PM | Unregistered CommenterLiberatedCitizen
The Governmental Accountability Institute got it correct in Justice Inaction. Only their subtitle is misleading because the Department of Justice has a long history of not prosecuting financial crimes dating back to the first Secretary of Treasury, Alexander Hamilton, and his sharing of insider information with family and friends. You can read about this and other famous non-prosecutions of financial crime in my latest book, THEFT OF A NATION: WALL STREET LOOTING AND FEDERAL REGULATORY COLLUDING.

http://www.rowmanlittlefield.com/ISBN/9781442207790
Aug 7, 2012 at 1:50 PM | Unregistered CommenterGregg Barak
Obama & Holder have done nothing. Would Romney & his AG do anything? Would anybody running do anything?
Everyone wants to be in the Big Club. The fees are high but the benefits are better.
Aug 7, 2012 at 4:03 PM | Unregistered CommenterHEY YOU
This is a good paper, but it doesn't go far enough in pointing out the mendacity of Holder's DOJ.

At page 15, for example, the paper points out that the DOJ only pursues financial fraud cases against small-time chiselers like grandmothers running unsanctioned bingo parlors.

And yet, at the same time, the DOJ has not pursued ANY cases of notarization fraud in the millions of fraudulent foreclosure lawsuits that have been filed by servicers that have either lost or destroyed the borrowers' promissory notes, which are necessary to establish standing, i.e., legal injury of the plaintiff needed for the court to have jurisdiction over the case.

Why not? Notaries are the lowest criminals on the robo-signing food chain, minimum wage minions who do the bidding of the banksters and their lawyers above them. A case of notary fraud would be an open-and-shut matter. A junior prosecutor with an IQ of 90 or higher could convict notaries by the 100s if not 1000s every month. Did you sign and affix your notary seal swearing to the fact that X was present when in fact X was absent? Boom. Done. Jail.

The DOJ's refusal to pursue these cases exposes the fact that it is not just incompetent (which it most definitely is), but also a criminal enterprise itself. The DOJ is afraid that the discovery process will reveal that the notaries were taking orders from higher ups in the banks, and thus the DOJ avoids these cases like the plague, despite the fact that even a nitwit like Holder could prosecute them successfully.
Aug 7, 2012 at 5:30 PM | Unregistered CommenterCheyenne
The U.S. tax payers now own 450 million rounds of hollow-point ammunition, courtesy of the DHS molestation society. If the rest of America feels Jesus smiles on Wall Street looters because they say they are sorry, i should like to point out that the world's #1 catholic, Constantine probably was the inventor of 'universal absolution' because he took 10% off the top. I am not so afflicted with delusions of grandeur as Constantine. Cannon 257 has been burning decent people at the stake and saving the bankers and popes for a thousand years. High time we ended that.
Aug 7, 2012 at 5:42 PM | Unregistered CommenterHoward T. Lewis III
The DOJ's refusal to pursue these cases exposes the fact that it is not just incompetent (which it most definitely is), but also a criminal enterprise itself. The DOJ is afraid that the discovery process will reveal that the notaries were taking orders from higher ups in the banks, and thus the DOJ avoids these cases like the plague.

---

That is the key point.
Aug 8, 2012 at 12:51 AM | Unregistered CommenterDailyBail
Actually, other than Madoff who screwed mostly people from a certain community, theonly other persons prosecuted were three brown guys and one black guy.
Aug 8, 2012 at 7:07 AM | Unregistered CommenterGeorge
Cheyenne, just to reiterate the point, but you hit the nail on the head. Discovery IS the plague in their minds. Besides, what was the foreclosure "settlement" all about? Makes you want to smack somebody.
Aug 8, 2012 at 2:46 PM | Unregistered CommenterPitchfork
Could the need for forensic accountants be growing, there seems to be a general lack or unwillingness to understand the current trends in all facets of society.

Especially the ones reliant on campaign contributions...
Aug 8, 2012 at 3:06 PM | Unregistered CommenterS. Gompers
Pitchfork surprise, surprise who could have seen this coming :)

Foreclosure Settlement Fails To Force Mortgage Companies To Improve

http://www.huffingtonpost.com/2012/08/08/foreclosure-settlement-fails-mortgage_n_1754018.html

Pretty colorful stuff over here the first one makes an interesting point the banks have with held foreclosure's from the market now that could be viewed as the writer does (colluding with one another to keep up housing prices) or by another as good business sense (the responsibility to shareholders to get the best they can) if there weren't other factors in play. None the less it once again shows the only people being helped are the banks who paid off obama.

How Obama Helps the Banks Rig the Housing Market

http://blackagendareport.com/content/how-obama-helps-banks-rig-housing-market

Other factors

A Huge Housing Bargain -- but Not for You

snippet

NEW YORK (RealMoney) -- The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors -- vulture funds.

These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.

You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs(GS_) and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.

In the process, these investors will instantaneously become the largest improved real estate owners and landlords in the world. The U.S. taxpayer will get pennies on the dollar for these homes and then be allowed to rent them back at market rates

more

http://www.thestreet.com/story/11224917/1/a-huge-housing-bargain--but-not-for-you.html

Investors With Ties To Buffett, Soros, Obama Plan Mortgage Eminent Domain Grab

http://www.futureofcapitalism.com/2012/06/investors-with-ties-to-buffett-soros-obama-plan

Obama's Justice Department Rushes to the Rescue of LIBOR Criminals

http://blackagendareport.com/print/content/obamas-justice-department-rushes-rescue-libor-criminals
Aug 8, 2012 at 3:31 PM | Unregistered CommenterLiberatedCitizen
Pitchfork surprise, surprise who could have seen this coming :)

Foreclosure Settlement Fails To Force Mortgage Companies To Improve

http://www.huffingtonpost.com/2012/08/08/foreclosure-settlement-fails-mortgage_n_1754018.html

Pretty colorful stuff over here the first one makes an interesting point the banks have with held foreclosure's from the market now that could be viewed as the writer does (colluding with one another to keep up housing prices) or by another as good business sense (the responsibility to shareholders to get the best they can) if there weren't other factors in play. None the less it once again shows the only people being helped are the banks who paid off obama.

How Obama Helps the Banks Rig the Housing Market

http://blackagendareport.com/content/how-obama-helps-banks-rig-housing-market

Other factors

A Huge Housing Bargain -- but Not for You

snippet

NEW YORK (RealMoney) -- The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors -- vulture funds.

These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.

You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs(GS_) and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.

In the process, these investors will instantaneously become the largest improved real estate owners and landlords in the world. The U.S. taxpayer will get pennies on the dollar for these homes and then be allowed to rent them back at market rates

more

http://www.thestreet.com/story/11224917/1/a-huge-housing-bargain--but-not-for-you.html

Investors With Ties To Buffett, Soros, Obama Plan Mortgage Eminent Domain Grab

http://www.futureofcapitalism.com/2012/06/investors-with-ties-to-buffett-soros-obama-plan

Obama's Justice Department Rushes to the Rescue of LIBOR Criminals

http://blackagendareport.com/print/content/obamas-justice-department-rushes-rescue-libor-criminals
Aug 8, 2012 at 3:59 PM | Unregistered CommenterLiberatedCitizen
Pitchfork surprise, surprise who could have seen this coming :)

Foreclosure Settlement Fails To Force Mortgage Companies To Improve

http://www.huffingtonpost.com/2012/08/08/foreclosure-settlement-fails-mortgage_n_1754018.html

Pretty colorful stuff over here the first one makes an interesting point the banks have with held foreclosure's from the market now that could be viewed as the writer does (colluding with one another to keep up housing prices) or by another as good business sense (the responsibility to shareholders to get the best they can) if there weren't other factors in play. None the less it once again shows the only people being helped are the banks who paid off obama.

How Obama Helps the Banks Rig the Housing Market

http://blackagendareport.com/content/how-obama-helps-banks-rig-housing-market

Other factors

A Huge Housing Bargain -- but Not for You

snippet

NEW YORK (RealMoney) -- The largest transfer of wealth from the public to private sector is about to begin. The federal government will be bulk-selling the massive portfolio of foreclosed homes now owned by HUD, Fannie Mae and Freddie Mac to private investors -- vulture funds.

These homes, which are now the property of the U.S. government, the U.S. taxpayer, U.S. citizens collectively, are going to be sold to private investor conglomerates at extraordinarily large discounts to real value.

You and I will not be allowed to participate. These investors will come from the private-equity and hedge-fund community, Goldman Sachs(GS_) and its derivatives, as well as foreign sovereign wealth funds that can bring a billion dollars or more to each transaction.

In the process, these investors will instantaneously become the largest improved real estate owners and landlords in the world. The U.S. taxpayer will get pennies on the dollar for these homes and then be allowed to rent them back at market rates

more

http://www.thestreet.com/story/11224917/1/a-huge-housing-bargain--but-not-for-you.html

Investors With Ties To Buffett, Soros, Obama Plan Mortgage Eminent Domain Grab

http://www.futureofcapitalism.com/2012/06/investors-with-ties-to-buffett-soros-obama-plan

Obama's Justice Department Rushes to the Rescue of LIBOR Criminals

http://blackagendareport.com/print/content/obamas-justice-department-rushes-rescue-libor-criminals
Aug 8, 2012 at 4:43 PM | Unregistered CommenterLiberatedCitizen
I know for a fact that my former husband Michael R. Figat E.Patchogue & Coram L.I. N.Y. has been involved in mortgage fraud proliferation in both Suffolk County NY all the way to every county in the state of Florida. I know this because when he did it to my own home that I purchased post divorce. I began to study the records in the Suffolk County Center in Riverhead NY. What I found unmistakably was his handwriting on every deed & mortgage filing since 1988.No doubt. Same thing when Iwent online & studied some mortgages/official records through out Fla. which he often visited.
Since filing for divorce in 2000. Each time I would try to go before a corrupt judge here my case would be either denied or dismissed. Cross ref. the judges I was assigned with mortgage satisfactions and found they always corressponde to my court cases. Judge got mortgage sat. my case dismissed.
Same thing with my kids involving traffic summones and all of us in staged car crashes for ins. fraud. Have the documentary proofs.
Aug 9, 2012 at 11:03 AM | Unregistered CommenterNancy
Is it at all possible to suggest a citizens arrest with any of these people? If so, would it not be possible to find anyone outside of this inner circle to prosecute this crime? Just wondering.
Aug 9, 2012 at 10:41 PM | Unregistered CommenterSKINFLINT
Obama is a World Class Hypocrite! He rails against the evil of Wall Street like he is the savior to all mankind...yet he has done NOTHING! Even that Liberal Bill Clinton had over 1,000 Wall Street Convictions and that Big Bad George Bush, the most Moral Man of the 3, had over 1,300 convictions.

But the Big Mouth in the White House had None. Zero. Nada. Nothing. Ziltch. Crap.

O'vomit is getting ready to exonerate that other thief John Corzine. Amazing how these creeps stay in business with their Scams, Lies, Fraud and other Swindles.
Aug 17, 2012 at 11:12 PM | Unregistered CommenterRoscoe Bonifitucci
Roscoe as you predicted done

Jon Corzine Will Not Only Not Face Prosectuion, But May Be Launching A Hedge Fund Imminently

http://www.zerohedge.com/news/jon-corzine-will-not-only-not-face-prosectuion-may-be-launching-hedge-fund-imminently
Aug 18, 2012 at 8:23 AM | Unregistered CommenterLiberatedCitizen

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