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"...it's difficult to find a fraud of this size on the U.S. court system in U.S. history... where you have literally tens of thousands of fraudulent documents filed in tens of thousands of cases." Raymond Brescia, a visiting professor at Yale Law School

* "Los Angeles County got the best courts that money could buy". KNBC (October 16, 2008) * "Innocent people remain in prison" LAPD Blue Ribbon Review Panel Report (2006) * Los Angeles County is "the epicenter of the epidemic of real estate and mortgage fraud." FBI (2004) * “…judges tried and sentenced a staggering number of people for crimes they did not commit." Prof David Burcham, Loyola Law School, LA (2000) * “This is conduct associated with the most repressive dictators and police states… and judges must share responsibility when innocent people are convicted.” Prof Erwin Chemerinksy, Irvine Law School (2000) * "Condado de Los Angeles tiene las mejores canchas que el dinero puede comprar".KNBC (16 de octubre de 2008) * "Las personas inocentes permanecen en prisión" LAPD Blue Ribbon Panel de Revisión Report (2006) * Condado de Los Angeles es "el epicentro de la epidemia de bienes raíces y el fraude de la hipoteca." FBI (2004) * "... Los jueces juzgado y condenado a un asombroso número de personas por crímenes que no cometieron." Prof. David Burcham, Loyola Law School, LA (2000) * "Esta es una conducta asociada con los dictadores más represivos y los estados de la policía ... y los jueces deben compartir la responsabilidad, cuando es condenado a personas inocentes." Prof. Erwin Chemerinksy, Irvine, la Facultad de Derecho (2000)

Thousands of Rampart-FIPs (Falsely Imprisoned Persons) remain locked up more than a decade after official, expert, and media report documented that they were falsely prosecuted, convicted, and sentenced in the largest court corruption sandal in the history of the United States...

Blue Ribbon Review Panel report (2006):

http://www.scribd.com/doc/24902306/

Nuestro derecho a acceso los expedientes publicos, nuestra libertad y nuestros derechos humanos fundamentales están todos conectados en las caderas!

10-10-01 Corruption of the California courts noticed by the United Nations

In summer 2010, the staff report of the Human Rights Council of the United Nations, as part of the first ever, 2010 UPR (Universal Periodic Review) of Human Rights in the United States, noticed and referenced the Human Rights Alert April 2010 submission, pertaining to "corruption of the courts, the legal profession, and discrimination by law enforcement in California".

10-10-01 United Nations Human Rights Council Records for 2010 Review (UPR) of Human Rights in the United States

Tuesday, November 8, 2011

11-11-09 Iceland v the American way... // Islandia v la manera americana ... // 冰岛V的美国人的方式...

Comment:
The American way - let's socialize bad banking investments, privatize the profits...
BofA toxic derivative assets are estimated at $75 TRILLIONS, while the US GDP is estimated at only $15 TRILLIONS...
JZ



Why Iceland Should Be in the News, But Is NotBy Deena Stryker

An Italian radio program's story about Iceland�s on-going revolution is a stunning example of how little our media tells us about the rest of the world. Americans may remember that at the start of the 2008 financial crisis, Iceland literally went bankrupt.  The reasons were mentioned only in passing, and since then, this little-known member of the European Union fell back into oblivion.

As one European country after another fails or risks failing, imperiling the Euro, with repercussions for the entire world, the last thing the powers that be want is for Iceland to become an example. Here's why:

Five years of a pure neo-liberal regime had made Iceland, (population 320 thousand, no army), one of the richest countries in the world. In 2003 all the country�s banks were privatized, and in an effort to attract foreign investors, they offered on-line banking whose minimal costs allowed them to offer relatively high rates of return. The accounts, called IceSave, attracted many English and Dutch small investors.  But as investments grew, so did the banks� foreign debt.  In 2003 Iceland�s debt was equal to 200 times its GNP, but in 2007, it was 900 percent.  The 2008 world financial crisis was the coup de grace. The three main Icelandic banks, Landbanki, Kapthing and Glitnir, went belly up and were nationalized, while the Kroner lost 85% of its value with respect to the Euro.  At the end of the year Iceland declared bankruptcy.

Contrary to what could be expected, the crisis resulted in Icelanders recovering their sovereign rights, through a process of direct participatory democracy that eventually led to a new Constitution.  But only after much pain.

READ MORE:
http://www.dailykos.com/story/2011/08/01/1001662/-Icelands-On-going-Revolution

JONATHAN TURLEY

Bank of America & The Great Derivatives Transfer

Published 1, November 6, 2011
Submitted by Elaine Magliaro, Guest Blogger

In an article titled Another Weapon for OWS: Pull Your Money Out of BofA, Matt Taibbi wrote that �when it comes to commercial banking, Bank of America is as bad as it gets.� He said he believed the markets seemed to agree as the bank had a credit downgrade recently �to just above junk status.�

He continued: The only reason the bank is not rated even lower than that is that it is Too Big To Fail. The whole world knows that if Bank of America implodes � whether because of the vast number of fraud suits it faces for mortgage securitization practices, or because of the time bomb of toxic assets on its balance sheets � the U.S. government will probably step in to one degree or another and save it.
After the credit downgrade in September, Bloomberg reported that Bank of America �moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits�� Taibbi said the transfer involved trillions of dollars in risky derivatives contracts.

According to BloombergThe Federal Reserve and Federal Deposit Insurance Corp. disagree over the transfers, which are being requested by counterparties, said the people, who asked to remain anonymous because they weren�t authorized to speak publicly. The Fed has signaled that it favors moving the derivatives to give relief to the bank holding company, while the FDIC, which would have to pay off depositors in the event of a bank failure, is objecting, said the people. The bank doesn�t believe regulatory approval is needed, said people with knowledge of its position.
Here�s how Ryan Chittum explained it in the Columbia Review of JournalismBank of America moved risky insurance contracts to a taxpayer-insured company, ostensibly to save money. The FDIC, which would now be on the hook for losses if the derivatives collapse, is not happy, and the move raises more questions about the health of Bank of America, which has already seen its market value sliced in half this year.
Kirsten Pittman reported in The Charlotte Observer that more than a dozen Democratic members of Congress are concerned about the reported transfer �of financial instruments from Merrill Lynch into the bank�s deposit-taking arm��which they say �could put taxpayers on the hook for big losses � three years after the bank received billions in bailouts from the federal government.� The Congressmen wrote to federal regulators to ask why they allowed the movement of derivatives into the retail bank, which has deposits that are insured by the FDIC. In a statement, Rep. Brad Miller of North Carolina said, �This kind of transaction raises many issues of obvious public concern. If the bank subsidiary failed, innocent taxpayers could end up paying off exotic derivatives.�

William Black, a professor of economics and law at the University of Missouri-Kansas City and a former bank regulator, said, �The concern is that there is always an enormous temptation to dump the losers on the insured institution. We should have fairly tight restrictions on that.�

So much for financial reform. Just three years ago, Bank of America received $45 billion in bailout money during the financial crisis. It doesn�t seem that much has changed since 2008, does it?

SOURCE:http://jonathanturley.org/2011/11/06/bank-of-america-the-great-derivatives-transfer/ 

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Please Sign Petition - Free Richard Fine // Por favor, Firme la petición - Liberar a Richard Fine

RICHARD FINE was arrested on March 4, 2009 and is held since then in solitary confinement in Twin Tower Jail in Los Angeles, California, with no records,  conforming with the fundamentals of the law, as the basis for his arrest and jailing.

Richard Fine - 70 year old, former US prosecutor, had shown that judges in Los Angeles County had taken "not permitted" payments (called by media "bribes"). On February 20, 2009, the Governor of California signed "retroactive immunities" (pardons) for all judges in Los Angeles. Less than two weeks later, on March 4, 2009 Richard Fine was arrested in open court, with no warrant. He is held ever since in solitary confinement in Los Angeles, California. No judgment, conviction, or sentencing was ever entered in his case.

Please sign the petition: Free Richard Fine -

http://www.thepetitionsite.com/1/free-fine