The Market Ticker – We Were All ****d: Close The Big Banks

We Were All ****d: Close The Big Banks

smiley I’d say “I told you so”, but this isn’t exactly news…. what is news is that despite these rulings and admissions – including intentionally covering up bid-rigging – these institutions are not under indictment for Racketeering and closed down.

In an 11th-floor federal courtroom in Manhattan on a gray September afternoon, a banker stood with a somber face and admitted to rigging bids for contracts to invest bond proceeds and then lying about it — as part of the biggest criminal conspiracy in the history of the 198-year-old municipal finance market.

When a group of people get together and conspire to rob banks (the old-fashioned way) or sell drugs, we break up the ring, confiscate everything they have, and if there are “legitimate” businesses used as cover for the scam, we confiscate that too.

But not here.  And this is not “small potatoes” either:

By mid-1999, Murphy and Campbell were joined by two former First Union colleagues, Jay Saunders and Dean Pinard. Within three years, the small group made more in revenue for Bank of America than its corporate derivatives unit. Pinard knew Image well. After graduating from Villanova University, he went to work at Wheat First Securities Inc. in Philadelphia with two bankers who later joined Image, broker registration records show.

So once again I ask: Since this was such a material part of the firm’s revenue, why is it that the government has not seized this institution and shut it down?

Can someone explain how this doesn’t fit within the definition of “Operating a continuing criminal enterprise”, otherwise known as Racketeering?

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4closureFraud.org

Comments
24 Responses to “The Market Ticker – We Were All ****d: Close The Big Banks”
  1. l vent says:

    Karl is right they ******d everybody. Imposters posing as American banks with an agenda hell bent on destruction. Using American treasonists as pimps to carry out the financial terror on America.

  2. RAMONA says:

    they have pit investor against homeowner while the bankers laugh rolling in thier dough.

  3. Officer of the Law says:

    In case no one has realized it yet, the prosecutors take bribes from the bankers to ignore their crimes.

  4. I just made a long comment in regards to this whole shitty issue of fraud/racketeering. Everyone needs to join in, groups need to plan the next steps, voices need to be heard loud on the streets, protest, rally, swamp the white house, CONgress, Courts, anywhere and everywhere with letters, e-mails…..No one in the financial industry or the government follows the laws …let them know where this is leeding to…a lawless land. What is good for the goose is good for the gander….If criminals in the financial industry and government can use fraud, ponzi scheme, corruption, lies, to scam millions of homes…when in fact they never funded one cent ever for any mortgages, car loans, credit cards…but they made billions into trillions…selling them with their fraud ploy….and had the balls to cry for bailouts when in fact bailouts were not even needed. Since the criminals ‘think’ that they own the right to millions of houses…houses they never funded and took a promissory note and turned it into a security instrument….then they don’t own those houses…IF WE CAN’T PROTECT OUR INVESTMENTS…MONEY WE HAVE PAID ON THOSE HOMES…WHICH IS 100% MORE THAN THE BANKS..THAN THE BANKS DON’T OWN THE HO– USES EITHER. The day will come when those houses will be gone….to save them…indictments must be served..NOW…those quilty must face prison…just as the 80’s Savings and Loan crimes were punished…This is much bigger…this country and the world are victims of the fraud…..Ask the Justice Department why in 2004 when the FBI reported fraud…they turned their heads and did nothing…So this government knew years back, before 2004, that this ploy was planned…think back to 9/11/2001…??… We want our currency backed by the gold and silver..as it use to be…J F Kennedy wanted that also..where did it get him? ? The Federal Reserve and the scum lobbist’s are the down fall of our American system….it must be ended. OB repeated many times in his campaign that he was going to end the lobbyist’s…the briber’s of the government…yet he has failed his word. Time we all start hollaring, no more whisper’s….there are prisons in every state to house these criminals.

  5. Boycott banksters now! says:

    messages and bubble-baths for all of them….

  6. The banks put the Country and the homeowners in this situation we are now, also I don’t see the banks taking responsibility for anything, They got their bail out, and on top of that, they have received money for the HAMP (modification program) and they still not willing to help the homeowner, as matter of fact they still making millions out of the misery of families losing their homes, by collecting Insurance (AIG Banks bought insurance against that poor middle class family home that does not stand a chance), Please also note the the Banksters designed these loans to crashed, and the only part that the homeowners is guilty of, is of taking the bait , Homeowners should be responsible, but were are the responsible banks? I don;t see one person in the financials business being prosecuted for the mess they created, not only that but now they are committing FRAUD-CLOSURES? by falsification of documents, affidavits, signatures etc to foreclose on the homeowner? Can you imagine if a homeowner would do that? he will be in jail next day ! but the Bankers are untouchable, you think is fair? some people still think that everything is the responsibility of the homeowner? they were also brainwashed (buy a house now, sell it tomorrow you will make money, tomorrow the home will cost more, etc ) banks did all of that by creating false demand, inflating prices, appraisals, and coming out with loans like stated assets, stated income, interest only, Liar Loans and Negam Loans (negam means the payment was not even the interest of the loan) but not one banker has been prosecuted for all of these, I suggest people to go see the movie documentary Inside Job, I really recommend it, People will have a clear perceptive of what is really going on, please go see it, because it will be too long to explain it all here, get informed

    Some solutions are simple:
    1st, Take the whole HAMP, HOPE, etc modification programs out of the hands of the Servicer’s and Banksters, And give it to and independent agency that can be Fair and balance,
    2nd, Stop the dual track system that the banks are using where at the same time that they are processing a modification they are also FRAUD-CLOSINNG in the homeowner
    3-Replace Bank regulators
    4-End Cops for crooks (change the heads of the regulatory agencies)
    5- End Banks to Big to Fail (brake them up)
    6-End the Trillions to Fanne & Freddie to cover up the Banks
    7-Fire Eric Holder
    8-Fire Geitner
    7-Fire Bernanke
    9- Fire all the heads of the Fed that used to work for Goldman “Sucks” (many of them are working at the fed)
    10- Call your congressman (demand that they stop these frauds)
    10-Write to W.H (demand the same)

    This crisis is all about fraud, and the Bnaksters and Servicer;s committing fraud, Please for god sakes, get people in the regulatory offices, that will enforce the rule of Law, Property rights are being violated every day.
    Let me know if any of you have any more solutions or suggestions lets put them all together and push for them to be implemented

  7. Debbie says:

    “The central bank is an institution of the most deadly hostility existing against the Principles and forms of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will grow up homeless on the continent their Fathers conquered. The Issuing power of money should be taking from the banks and restored to Congress and the people to whom it belongs.” ~Thomas Jefferson

  8. Debbie says:

    WE NEED TO WAKE UP AND REALIZE THE POWER WE HAVE IN NUMBERS. HALF OF CONGRESS AND THE SENATE IF NOT MORE WORKED FOR THE FAILED BANKS, LEHMAN BROTHERS ETC. WE NEED TO SEND A STRONG MESSAGE AND LET ALL THE POLITICIANS KNOW WE ARE NO LONGER PLAYING THEIR GAME. WHEN THE 2012 ELECTION COMES LET THEM KNOW WE ARE NO LONGER VOTING FOR THE LESSOR OF THE TWO EVILS, BECA– USE OUR VOTES DON’T COUNT ANYWAY ****WE SHOULD NOT VOTE****THAT’S RIGHT! NO ONE GOES TO THE POLLS TO CAST THEIR VOTE. WE DEMAND THAT THEY ALL RESIGN AND WE WILL NOT VOTE AGAIN UNTIL THEY DO. THEN WE REPLACE ALL OF THEM WITH NEW POLITICIANS. POLITICIANS THAT ARE NOT BOUGHT OR A PART OF THE BANKS AND THEIR PONZY SCHEME. WE DEMAND THAT THEY ABOLISH THE FEDERAL RESERVE RIGHT NOW AND MAKE CORPORATE LOBBYING ILLEGAL …This will restore our country, our INDEPENDENCE, our money supply, back into the hands of the American people. And always remember, that WE THE PEOPLE, make up our Govt. Not some international bank. Most importantly, we don’t need to borrow any money from them to “spend” because right now, spend way too much and it all ends up being corrupt!! We must spread this message. Everybody must put aside their belief or vote for a political party, and vote or protest for AMERICA and our Constitution!! WE THE AMERICAN PEOPLE MUST TAKE OUR COUNTRY BACK FOR WHAT OUR ANCESTORS FOUGHT SO HARD FOR …OUR FREEDOM IS GONE!

  9. ben says:

    What ever you do..ask to show that money..gold silver. What?

  10. ben says:

    You guy are so correct..yet most hurt in this fraud are the foreigners.. so i wonder why dont let this happen to them?

    just a talk..:)

  11. housemanrob says:

    Be prepared! No heroes are stepping up and the President is watching the Miami heat basketball team more than paying attention to the problems of this country…..word is he is not that interested, and if he does not get interested, it will get reallyt hairy. Lot’s of guns being sold! Is that what you want banksters……a SHOOTOUT! I know, I do not!

  12. pparke500 says:

    When are the investors who bought shares in the phony mortgage pools going to start filing lawsuits and raising hell?

  13. joe parisi says:

    RICO them, like they do to the mob, ala Guiliani. Public citizens with no political or financial ties to anyone should be set up to address these banksters.

  14. Lit Gant says:

    Two problems immediately arise:

    1.) Politicians elected to Washington know they must plan on future revenues for re-election and so start right away to know where the money is, and which lobby snakes to make friends with. Since the banks are the largest snakes, these elected shysters get on the under-the-table payroll with kickbacks and all other kinds of sweet deals. Now will these demons in fancy suits who put on a good public show ever introduce or sign on to legistlation that will take these banks to court? No! And who is the chief among these? It is the Republicans. Do not give them the White House in 2012. They claim they will make changes in Washington and they lie. Then here comes the Democrats trying to make us believe they have our interest at heart. But where are these men in the media telling Americans in foreclosure what they will do to bring the banks to justice? They are absent. The banks have sent them male and female butterflies to keep them in line.

    2.) The banks are a very private large criminal business. When they will hire thugs to create false documents, pay attorneys to use these perjured documents, then slip around the back-side and pay millions to judges to rocker-docket the foreclosure cases: we have the powder for riot. It is a miracle there is no bloodshed all over the court houses. The thing is, Americans in foreclosure are generally good people and would rather sacrifice their homes than bring the country to its knees in financial depression. Banks like BOA and JP Morgan are banking on Americans turning the cheek and their eyes. And they are counting on Obama and the politicians to give them a trillion dollar new bail out to pay the investors. Who are these investers who bought these junk securities? They are the retirement funds for firemen, policemen, teachers, government employees, and viriturally every pension fund in America. Yes, nearly every pension fund in America invested in these junk securities. And if these banks are in any way made to take the losses on these illegal mortgage securities since about 2006, all the pension checks will stop. America will crash. Pension holders will grab their guns and go to Washington. Will Obama allow this? Will the Republicans or Democrats allow this? No, so they will pass through another recovery act and give the banks more billions and billions to make sure the pension funds do not collapse.

    Where is the federal prosecutors? Where is the Justice Department? If you check their travel records over the past three years we might be shocked.

    What we need is a new America where banks to not control the people or the government. We need all the large banks busted up into a million little banks. We need home banks where mortgages are made and paid. We need to end these securitized trust criminal ponzi schemes. If the American Congress does not do it, then America kiss your constitution goodby. Your credit will be ruined. You will live in rented apartments and houses. And you will also be out of work. You will sign up for food stamps and sign in to the Salvation Army centers for the indigent. You will sleep under bridges and in overgrowth lots. You will seek shelter in the 7 million vacant homes an live like rats. Yes America, thank your banks and the Republicans and Democrats,

    I vote to arrest every Bank President, emplopyee, or other persons, who had a part in these securitizations and the fraud backing these illegal securities.

    In the mean time America, file as many lawsuits as you can against banks, servicers, loan originators, appraisers, trusts, trustees, fraudulent lawyers, fraudulent document makers, and notaries. File complaints to the State Bar against all shyster lawyers. File complaints against notaries. File complaints against banks at the state banking comissions. File complaints against the mortgage lenders and hav e their license revoked. File complaints against Realtors who are involved in this criminal conduct. Anyone who has a state license, file a complaint against them to have their licesne revoked, And at last let’s put MERS in its grave.

    • Herbert says:

      Listen to you all, you know all the fraud and how it’s being done with the people sitting there cheering on, but all you are doing is ranting……….nothing more. When is someone going to come forward with ways to file the complaints, file lawsuites, without money, find lawyers who are not connected the this wide spread scheme or are heavely invested themselves. Why does it seem the only people who are investors themselves able to convince the rest that it’s the borrowers who are the frauds, and leaving the main problem as is and not convicting the people who were caught and all their belongings confiscated? Why is the government not helping?…….Because the government is behind the whole scheme to take over the People and there rights. Think about it, the government looked the other way when this problem was brought to the attention to the authorities that are supposed to correct them, but ignored them because the were making big money too. They let the FED come in and blow the bubble up, then let the FED comeback and pop the bubble. Fanny mae, Freddy Mac, and the big banks were in bed having a good time, while “WE THE PEOPLE” were buying the rubbers with holes. Now that the it’s out of the bag, who stands to lose the most? …………….The Tax Payers who pay these whore masters to pimp out our country, to forign investors who now own our children and their children and probebly for the next several generations to come. All because “WE THE PEOPLE” are sitting on our asses,doing nothing to take the government out of the picture, and closing down all the big banks, take out the FED and throwing the bums in the closed up military bases they plan to throw us in when FEMA makes up another false outbreak, for another excuse to take the people out of their world and leave all the filthy rich billionares in charge of the slaves we are now being turned into, because there will be no jobs left, and people will be so desperate to just work for the days meal, will cave in. This will happen as I say, mark my words. When this is over, there will be so many out on the streets and starving, they will gather us all up, in cattle trucks and dump us in the camps as slaves.
      What we have to do is ALL get together and overrun the government and the FED and throw them in prison and be tried, as we were when they took our homes, with forged documents. I say a Hanging Jury of our peers should pass judgment in the name of humanity. DO IT NOW! it’s Almost too late already.

  15. l vent says:

    You go Karl!!! We The People cannot stop calling these people out.

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