Country Club Sopranos | American Banks Are On A Massive Crime Spree. Obama and Romney Hope You Won’t Notice.

Country Club Sopranos

American banks are on a massive crime spree. Obama and Romney hope you won’t notice.

If they’d been common robbers, the bankers surely would have faced indictments. After all, their scams have run for years, their breadth and coordination breathtaking.

But not a single boss went to jail. Some firms settled for just a fraction of what they’d stolen. Most have never admitted wrongdoing. And in the ethics-optional land known as Wall Street, many saw their stock prices rise.

America’s country club set has forged its own replica of the Mafia — only bigger, broader and capable of unleashing far more damage on the U.S. economy.

“Unquestionably, that’s true,” says Notre Dame law professor G. Robert Blakey, whose career prosecuting organized crime runs all the way back to the Kennedy administration. “I was looking at stuff on Mulberry Street, and the real theft was on Wall Street…All of the people who ran the scams have their big houses and their airplanes, and they’re laughing — they got away with it.”

The crime wave is a ready-made campaign issue: Gucci villains plundering the middle class. But you haven’t heard a peep out of Barack Obama or Mitt Romney. Both have records they’d prefer you didn’t notice.

The situation leaves Sam Antar with a sense of longing. He’s a former chief financial officer convicted of securities, mail and wire fraud.

“My biggest mistake in life was that I committed my crimes in the 1980s,” he says. “If I committed them today, I wouldn’t even get house arrest. I’d just hire a good lawyer and pay a fine and I’d be free.”

Check out the story in full here…


10 Responses to “Country Club Sopranos | American Banks Are On A Massive Crime Spree. Obama and Romney Hope You Won’t Notice.”
  1. Alabama John says:

    Wouldn’t you hate to be a Bank or Mortgage Company going before a local good ol’ boy jury against a good ol’ boy homeowner or even worse, an unjustly harmed homeowner? Who do you think would have to do the most explaining of their position.
    Win? You bet!!!

  2. Ken Hansen says:

    Public hostility towards our elected bagmen soars, and a Justice department that won’t. Hardly motivation to go and vote, but it is inspiring that at least a few good guys are out there.
    Blakey: “The real theft was on Wall Street… All of the people who ran the scams have their big houses and their airplanes and they’re laughing.”

  3. JJ says:

    The politicians are dependant on the banks for campaign contributions to help them win elections .. we won’t get any where until we have campaign reform where the banks and big corporations can’t pay off the politicians with campaign contributions .. as long as the politicians need the big money from banks and big business, they will do what the banks and corporations want them to do (little or nothing about big business crimes).. maybe Obama can do something in a second term, because he can’t run again after that, and therefore he won’t need money from big business .. maybe then he will be free to help us .. let’s hope so.

  4. Louise says:

    I do not see how this will be addressed until Probably?? January 2013. I think 2013 is going to be a very interesting year. In order for the economy to return to real viability, the housing mess has to be cleaned up. If you have an account in WFB, JP Morgan Chase, Bank of NY Mellon, BoA or any other huge, stinking national bank, move your money.

  5. Tom Self says:

    It’s sad that Obama nor Romney are talking about this at least a little bit. And it’s also sad not one executive has been jailed, what a joke. Americans need to stand up and fight back way more than they are currently doing!


    Posted By Neil Garfield LIVINGLIES ON OCTOBER 31,2012

    Editor’s Comment: Following up with the offensive strategy and the concept of attacking every weak point in the pretender lender’s strategies, Fagan went after Wells Fargo on the seemingly innocuous motion for the Judge to take Judicial notice of several documents.

    Besides the obvious fact that Judicial notice is narrowly construed to allow the FACT that a document was RECORDED (and not as proof of the matters asserted in such documents), Fagan took the offensive and essentially argued that Wells was trying to win a non-judicial foreclosure (in court, which is an oxymoron) using proof that could not be accepted in a judicial foreclosure.

    His argument and his citations are right on point. The moral of this story is that if you keep the faith and realize that this entire foreclosure mess is just one part of the securitization scam, then you arrive at the inescapable conclusion that the homeowners should win, not just delay the foreclosures. Once you know you should win, it is easier to take the offensive and start thinking about the cases in a different way.

    The question is not just “how do I protect my client” but also how do I win this case.”

    Read the documents below and you’ll see how Fagan artfully slices up the Wells Motion for Judicial Notice and how the Court concluded correctly that Wells can’t get away with violating the rules of evidence simply by slipping documents in through the back door.

    It looks to me like we are turning the corner here. Deny and Discover has been getting a lot of traction. Stopa has surprised pretender lenders with summary judgment granted in favor of the borrowers and Fagan, is picking apart Wells Fargo. A fellow I know recently said to me “if you can make it bleed, you can kill it.” He was referring to foreclosures.

  7. Fed Up says:

    Has anyone noticed Florida Rep Connie Mack and Senator Bill Nelson also run and hide from the bank fraud issues? They do not want to address it either !!!!!

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