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-   -   Welcome to Bankster World (http://www.orangemane.com/BB/showthread.php?t=110180)

Rohirrim 02-15-2013 07:12 AM

Welcome to Bankster World
 
In other words, Breuer is saying the banks have us by the balls, that the social cost of putting their executives in jail might end up being larger than the cost of letting them get away with, well, anything.

This is bull****, and exactly the opposite of the truth, but it's what our current government believes. From JonBenet to O.J. to Robert Blake, Americans have long understood that the rich get good lawyers and get off, while the poor suck eggs and do time. But this is something different. This is the government admitting to being afraid to prosecute the very powerful something it never did even in the heydays of Al Capone or Pablo Escobar, something it didn't do even with Richard Nixon. And when you admit that some people are too important to prosecute, it's just a few short steps to the obvious corollary that everybody else is unimportant enough to jail.

An arrestable class and an unarrestable class. We always suspected it, now it's admitted. So what do we do?


Read more: http://www.rollingstone.com/politics...#ixzz2KyrdcyZr

Interesting note: Senator Phil Gramm, the man most responsible for driving the legislation that dismantled Glass/Steagle, which allowed the banksters and Wall Street to bring down our economy while stuffing their own pockets full of tax payer money (not to mention stealing billions in equity from American homeowners) now works as the Vice Chairman of investment banking at UBS.

Small world, eh? :puff:

Blart 02-15-2013 12:08 PM

Good article. The most powerful institution writes the laws - and right now that's not our government.

It's hilarious - they're not just scamming us out of billions and rubbing our nose in it, they're knowingly helping anti-US terrorists. They really don't give a ****.

Quote:

The Treasury Department keeps a list compiled by the Office of Foreign Assets Control, or OFAC, and American banks are not supposed to do business with anyone on the OFAC list. But the bank knowingly helped banned individuals elude the sanctions process. One such individual was the powerful Syrian businessman Rami Makhlouf, a close confidant of the Assad family. When Makhlouf appeared on the OFAC list in 2008, HSBC responded not by severing ties with him but by trying to figure out what to do about the accounts the Syrian power broker had in its Geneva and Cayman Islands branches. "We have determined that accounts held in the Caymans are not in the jurisdiction of, and are not housed on any systems in, the United States," wrote one compliance officer. "Therefore, we will not be reporting this match to OFAC."

Translation: We know the guy's on a terrorist list, but his accounts are in a place the Americans can't search, so screw them.



But hey, we can fight back. Did you see Warren today? She's grilling our limp bank regulators,

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"When was the last time you took a Wall Street bank to trial?"

"We do not have to bring people to trial," Thomas Curry, head of the Office of the Comptroller of the Currency, assured Warren, declaring that his agency had secured a large number of "consent orders," or settlements.


"I appreciate that you say you don't have to bring them to trial. My question is, when did you bring them to trial?" she responded.


"We have not had to do it as a practical matter to achieve our supervisory goals," Curry offered.


Warren turned to Elisse Walter, chair of the Securities and Exchange Commission, who said that the agency weighs how much it can extract from a bank without taking it to court against the cost of going to trial.


"I appreciate that. That's what everybody does," said Warren, a former Harvard law professor. "Can you identify the last time when you took the Wall Street banks to trial?"


"I will have to get back to you with specific information," Walter said as the audience tittered.


"There are district attorneys and United States attorneys out there every day squeezing ordinary citizens on sometimes very thin grounds and taking them to trial in order to make an example, as they put it. I'm really concerned that 'too big to fail' has become 'too big for trial,'" Warren said.

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... and that's why I donated to an out-of-state senator :)


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