......................no president in American history has taken more loot from criminal banksters than BARACK OBAMA did even before he won the first term!
OBAMA’S AMERICA: Soaring poverty for Legals, looting by crony banksters
and a massive welfare state for
illegals!
THE OBAMA DEPRESSION
WALL STREET-OWNED BARACK OBAMA’S ASSAULT on the
AMERICAN WORKER as he builds the LA RAZA Mexican welfare state .
BARACK
OBAMA: The bankster-funded huckster that brought American to the very edge of
bankruptcy.
CRONY CAPITALISM at work
Obama’s “recovery” and the social crisis in America … the recovery that
NEVER was!
http://mexicanoccupation.blogspot.com/2014/08/america-under-obamas-crony-capitalism.html
even now Obama and the Democrat party are conspiring to hand millions more jobs to illegals and billions more in welfare to LA RAZA and their bankster paymasters!
THE LOOTERS:
OBAMA and his CRIMINAL CRONY BANKSTERS…. their looting only gets better by the
day!
http://mexicanoccupation.blogspot.com/2014/04/the-looting-of-america-barack-obama-and.html
Democracy in America and around the world is collapsing under the weight
of immense and ever-growing levels of social
inequality, bound up with the domination of a financial mafia that
uses its political power to enrich itself at the expense of society.
Congress, the White House, the courts, the regulators, the Democrats and
Republicans are all subservient to this financial aristocracy.
latimes.com
Three large banks
not fully complying with mortgage settlement changes
Based on the monitor's reviews and continued complaints from borrowers and
others in the industry about mortgage servicing problems, Smith added four new
metrics last month.
Based on the monitor's reviews and continued complaints from borrowers and others in the industry about mortgage servicing problems, Smith added four new metrics last month.
Robert Reich
JP Morgan Chase, the Foreign Corruption Practice Act and the corruption of
America
JP Morgan Chase is facing serious scrutiny for bribing Chinese officials.
But why is this different from other big banks bribing U.S. government
officials? It shouldn't be, Reich argues. Corruption is corruption and bribery
is bribery, regardless of international borders, he says.
The headquarters of JP Morgan Chase & Co are seen in New York. JP Morgan
Chase is facing scrutiny for breaking the Foreign Corrupt Practices Act. There
ought to be a Domestic Corrupt Practices Act, Reich argues, that prevents the
bribing of domestic officials, too.
(Mike Segar/Reuters/File)
The Justice Department has just obtained documents showing thatJPMorgan Chase, Wall Street’s biggest bank, has been hiring the
children of China’s ruling elite in order to secure “existing and
potential business opportunities” from Chinese government-run companies. “You
all know I have always been a big believer of the Sons and Daughters program,”
says one JP Morgan executive
in an email, because “it almost has a linear relationship” to winning assignments
to advise Chinese companies. The documents even include spreadsheets that list
the bank’s “track record” for converting hires into business deals.
It’s a serious offense. But let’s get real. How different is bribing China’s
“princelings,” as they’re called there, from Wall Street’s ongoing program of
hiring departing U.S. Treasury officials, presumably in order to grease the
wheels of official Washington? Timothy Geithner, Obama’s first Treasury
Secretary, is now president of the private-equity firm Warburg
Pincus; Obama’s budget director Peter Orszag is now a top executive at
Citigroup.
Or, for that matter, how different is what JP Morgan did in China from Wall
Street’s habit of hiring the children of powerful American politicians? (I
don’t mean to suggest Chelsea Clinton got her hedge-fund job at Avenue
Capital LLC, where she worked from 2006 to 2009, on the basis of anything other
than her financial talents.)
And how much worse is JP Morgan’s putative offense in China than the torrent
of money JP Morgan and every other major Wall Street bank is pouring into the campaign
coffers of American politicians — making the Street one of the major backers of
Democrats as well as Republicans?
The Foreign
Corrupt Practices Act, under which JP Morgan could be indicted for the
favors it has bestowed in China, is quite strict. It prohibits American
companies from paying money or offering anything of value to foreign officials
for the purpose of “securing any improper advantage.” Hiring one of their
children can certainly qualify as a gift, even without any direct benefit to
the official.
JP Morgan couldn’t even defend itself by arguing it didn’t make any
particular deal or get any specific advantage as a result of the hires. Under
the Act, the gift doesn’t have to be linked to any particular benefit to the
American firm as long as it’s intended to generate an advantage its competitors
don’t enjoy.
RECOMMENDED: Monitor Frontier Markets Free Trial. Intelligent analysis on
events in frontier/emerging countries.
Compared to this, corruption of American officials is a
breeze. Consider, for example, Countrywide Financial’s generous
“Friends of Angelo” lending program, named after its chief executive, Angelo
R. Mozilo, that gave discounted mortgages to influential members of Congress
and their staffs before the housing bubble burst. No criminal or civil charges
have ever been filed related to these loans.
Even before the Supreme Court’s shameful 2010 “Citizens United”
decision — equating corporations with human beings under the First Amendment,
and thereby shielding much corporate political spending – Republican appointees
to the Court had done everything they could to blunt anti-bribery laws in the United States. In 1999, in “United States v.
Sun-Diamond Growers,” Justice Scalia, writing for the Court, interpreted an
anti-bribery law so loosely as to allow corporations to give gifts to public
officials unless the gifts are linked to specific policies.
We don’t even require that American corporations disclose to their own
shareholders the largesse they bestow on our politicians. Last year around
this time, when the Securities
and Exchange Commission released its 2013 to-do list, it signaled it might
formally propose a rule to require corporations to disclose their political
spending. The idea had attracted more than 600,000 mostly favorable comments
from the public, a record response for the agency.
But the idea mysteriously slipped off the 2014 agenda released last week,
without explanation. Could it have anything to do with the fact that, soon
after becoming SEC chair last April, Mary Jo White was pressed by
Republican lawmakers to abandon the idea, which was fiercely opposed by
business groups.
The Foreign Corrupt Practices Act is important, and JP Morgan should be
nailed for bribing Chinese officials. But, if you’ll pardon me for asking, why
isn’t there a Domestic Corrupt Practices Act?
Never before has so much U.S. corporate and Wall-Street money poured into
our nation’s capital, as well as into our state capitals. Never before have so
many Washington officials taken jobs in corporations, lobbying firms, trade
associations, and on the Street immediately after leaving office. Our democracy
is drowning in big money.
Corruption is corruption, and bribery is bribery, in whatever country or
language it’s transacted in.
OBAMA KEEPS HIS PROMISE – NO BANKSTER
DONOR GOES TO PRISON!!!
Exclusive: BofA asks Holder to meet with its CEO - sources
1:45am EDT
Or, for that matter, how different is what JP Morgan did in China from Wall Street’s habit of hiring the children of powerful American politicians? (I don’t mean to suggest Chelsea Clinton got her hedge-fund job at Avenue Capital LLC, where she worked from 2006 to 2009, on the basis of anything other than her financial talents.)
And how much worse is JP Morgan’s putative offense in China than the torrent of money JP Morgan and every other major Wall Street bank is pouring into the campaign coffers of American politicians — making the Street one of the major backers of Democrats as well as Republicans?
The Foreign Corrupt Practices Act, under which JP Morgan could be indicted for the favors it has bestowed in China, is quite strict. It prohibits American companies from paying money or offering anything of value to foreign officials for the purpose of “securing any improper advantage.” Hiring one of their children can certainly qualify as a gift, even without any direct benefit to the official.
JP Morgan couldn’t even defend itself by arguing it didn’t make any particular deal or get any specific advantage as a result of the hires. Under the Act, the gift doesn’t have to be linked to any particular benefit to the American firm as long as it’s intended to generate an advantage its competitors don’t enjoy.
RECOMMENDED: Monitor Frontier Markets Free Trial. Intelligent analysis on events in frontier/emerging countries.
Compared to this, corruption of American officials is a breeze. Consider, for example, Countrywide Financial’s generous “Friends of Angelo” lending program, named after its chief executive, Angelo R. Mozilo, that gave discounted mortgages to influential members of Congress and their staffs before the housing bubble burst. No criminal or civil charges have ever been filed related to these loans.
Even before the Supreme Court’s shameful 2010 “Citizens United” decision — equating corporations with human beings under the First Amendment, and thereby shielding much corporate political spending – Republican appointees to the Court had done everything they could to blunt anti-bribery laws in the United States. In 1999, in “United States v. Sun-Diamond Growers,” Justice Scalia, writing for the Court, interpreted an anti-bribery law so loosely as to allow corporations to give gifts to public officials unless the gifts are linked to specific policies.
We don’t even require that American corporations disclose to their own shareholders the largesse they bestow on our politicians. Last year around this time, when the Securities and Exchange Commission released its 2013 to-do list, it signaled it might formally propose a rule to require corporations to disclose their political spending. The idea had attracted more than 600,000 mostly favorable comments from the public, a record response for the agency.
But the idea mysteriously slipped off the 2014 agenda released last week, without explanation. Could it have anything to do with the fact that, soon after becoming SEC chair last April, Mary Jo White was pressed by Republican lawmakers to abandon the idea, which was fiercely opposed by business groups.
The Foreign Corrupt Practices Act is important, and JP Morgan should be nailed for bribing Chinese officials. But, if you’ll pardon me for asking, why isn’t there a Domestic Corrupt Practices Act?
Never before has so much U.S. corporate and Wall-Street money poured into our nation’s capital, as well as into our state capitals. Never before have so many Washington officials taken jobs in corporations, lobbying firms, trade associations, and on the Street immediately after leaving office. Our democracy is drowning in big money.
Corruption is corruption, and bribery is bribery, in whatever country or language it’s transacted in.
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