Full-Blown Civil War Erupts On Wall Street – Financial Elite Start Turning On Each Other

Reality Finally Hits The Financial Elite As They Start Turning On Each Other

6th September 2011

By David DeGraw – ampedstatus.org

Finally, after trillions in fraudulent activity, trillions in bailouts, trillions in printed money, billions in political bribing and billions in bonuses, the criminal cartel members on Wall Street are beginning to get what they deserve. As the Eurozone is coming apart at the seams and as the US economy grinds to a halt, the financial elite are starting to turn on each other. The lawsuits are piling up fast. Here’s an extensive roundup:

Time to put your Big Bank shorts on! Get ready for a run… The chickens are coming home to roost… The Global Banking Cartel’s crimes are being exposed left and right… Prepare for shock and awe…

Well, well… here’s your shock and awe…

First up, this shockingly huge $196 billion lawsuit just filed against 17 major banks on behalf of Fannie Mae and Freddie Mac. Bank of America is severely exposed in this lawsuit. As the parent company of Countrywide and Merrill Lynch they are on the hook for $57.4 billion. JP Morgan is next in the line of fire with $33 billion. And many death spiraling European banks are facing billions in losses as well.

FHA Files a $196 Billion Lawsuit Against 17 Banks

The Federal Housing Finance Agency (FHFA), as conservator for Fannie Mae and Freddie Mac (the Enterprises), today filed lawsuits against 17 financial institutions, certain of their officers and various unaffiliated lead underwriters. The suits allege violations of federal securities laws and common law in the sale of residential private-label mortgage-backed securities (PLS) to the Enterprises.

Complaints have been filed against the following lead defendants, in alphabetical order:

1. Ally Financial Inc. f/k/a GMAC, LLC – $6 billion
2. Bank of America Corporation – $6 billion
3. Barclays Bank PLC – $4.9 billion
4. Citigroup, Inc. – $3.5 billion
5. Countrywide Financial Corporation -$26.6 billion
6. Credit Suisse Holdings (USA), Inc. – $14.1 billion
7. Deutsche Bank AG – $14.2 billion
8. First Horizon National Corporation – $883 million
9. General Electric Company – $549 million
10. Goldman Sachs & Co. – $11.1 billion
11. HSBC North America Holdings, Inc. – $6.2 billion
12. JPMorgan Chase & Co. – $33 billion
13. Merrill Lynch & Co. / First Franklin Financial Corp. – $24.8 billion
14. Morgan Stanley – $10.6 billion
15. Nomura Holding America Inc. – $2 billion
16. The Royal Bank of Scotland Group PLC – $30.4 billion
17. Société Générale – $1.3 billion

These complaints were filed in federal or state court in New York or the federal court in Connecticut. The complaints seek damages and civil penalties under the Securities Act of 1933, similar in content to the complaint FHFA filed against UBS Americas, Inc. on July 27, 2011. In addition, each complaint seeks compensatory damages for negligent misrepresentation. Certain complaints also allege state securities law violations or common law fraud. [read full FHFA release]

You can read the suits filed against each individual bank here. For some more information read Bloomberg: BofA, JPMorgan Among 17 Banks Sued by U.S. for $196 Billion. Noticeably absent from the list of companies being sued is Wells Fargo.

And the suits just keep coming…

BofA Sued Over $1.75 Billion Countrywide Mortgage Pool

Bank of America Corp (BAC.N) was sued by the trustee of a $1.75 billion mortgage pool, which seeks to force the bank to buy back the underlying loans because of alleged misrepresentations in how they were made. The lawsuit by the banking unit of US Bancorp (USB.N) is the latest of a number of suits seeking to recover investor losses tied to risky mortgage loans issued by Countrywide Financial Corp, which Bank of America bought in 2008. In a complaint filed in a New York state court in Manhattan, U.S. Bank said Countrywide, which issued the 4,484 loans in the HarborView Mortgage Loan Trust 2005-10, materially breached its obligations by systemically misrepresenting the quality of its underwriting and loan documentation. [read more]

Bank of America Kept AIG Legal Threat Under Wraps

Top Bank of America Corp lawyers knew as early as January that American International Group Inc was prepared to sue the bank for more than $10 billion, seven months before the lawsuit was filed, according to sources familiar with the matter. Bank of America shares fell more than 20 percent on August 8, the day the lawsuit was filed, adding to worries about the stability of the largest U.S. bank…. The bank made no mention of the lawsuit threat in a quarterly regulatory filing with the U.S. Securities and Exchange Commission just four days earlier. Nor did management discuss it on conference calls about quarterly results and other pending legal claims. [read more]

Nevada Lawsuit Shows Bank of America’s Criminal Incompetence

As we’ve stated before, litigation by attorney general is significant not merely due to the damages and remedies sought, but because it paves the way for private lawsuits. And make no mistake about it, this filing is a doozy. It shows the Federal/state attorney general mortgage settlement effort to be a complete travesty. The claim describes, in considerable detail, how various Bank of America units engaged in misconduct in virtually every aspect of its residential mortgage business. [read more]

Nevada Wallops Bank of America With Sweeping Suit; Nationwide Foreclosure Settlement in Peril

The sweeping new suit could have repercussions far beyond Nevada’s borders. It further jeopardizes a possible nationwide settlement with the five largest U.S. banks over their foreclosure practices, especially given concerns voiced by other attorneys general, New York’s foremost among them…. In a statement, Bank of America spokeswoman Jumana Bauwens said reaching a settlement would bring a better outcome for homeowners than litigation. “We believe that the best way to get the housing market going again in every state is a global settlement that addresses these issues fairly, comprehensively and with finality. [read more]

FDIC Objects to Bank of America’s $8.5 Billion Mortgage-Bond Accord

The Federal Deposit Insurance Corp. is objecting to Bank of America Corp. (BAC)’s proposed $8.5 billion mortgage-bond settlement with investors, joining investors and states that are challenging the agreement. The FDIC owns securities covered by the settlement and said it doesn’t have enough information to evaluate the accord, according to a filing today in federal court in Manhattan. Bank of America has agreed to pay $8.5 billion to resolve claims from investors in Countrywide Financial mortgage bonds. The settlement was negotiated with a group of institutional investors and would apply to investors outside that group. [read more]

Fed asks Bank of America to List Contingency Plan: Report

The Federal Reserve has asked Bank of America Corp to show what measures it could take if business conditions worsen, the Wall Street Journal said, citing people familiar with the situation. BofA executives recently responded to the unusual request from the Federal Reserve with a list of options that includes the issuance of a separate class of shares tied to the performance of its Merrill Lynch securities unit, the people told the paper. Bank of America and the Fed declined to comment to the Journal. Both could not immediately be reached for comment by Reuters outside regular U.S. business hours. [read more]

Bombshell Admission of Failed Securitization Process in American Home Mortgage Servicing/LPS Lawsuit

Wow, Jones Day just created a huge mess for its client and banks generally if anyone is alert enough to act on it. The lawsuit in question is American Home Mortgage Servicing Inc. v Lender Processing Services. It hasn’t gotten all that much attention (unless you are on the LPS deathwatch beat) because to most, it looks like yet another beauty contest between Cinderella’s two ugly sisters. AHMSI is a servicer (the successor to Option One, and it may also still have some Ameriquest servicing).

AHMSI is mad at LPS because LPS was supposed to prepare certain types of documentation AHMSI used in foreclosures. AHMSI authorized the use of certain designated staffers signing with the authority of AHSI (what we call robosinging, since the people signing these documents didn’t have personal knowledge, which is required if any of the documents were affidavits). But it did not authorize the use of surrogate signers, which were (I kid you not) people hired to forge the signatures of robosigners. The lawsuit rather matter of factly makes a stunning admission… [read more]

Fraudclosure: MERS Case Filed With Supreme Court

Before readers get worried by virtue of the headline that the Supreme Court will use its magic legal wand to make the dubious MERS mortgage registry system viable, consider the following:

1. The Supreme Court hears only a very small portion of the cases filed with it, and is less likely to take one with these demographics (filed by a private party, and an appeal out of a state court system, as opposed to Federal court). This case, Gomes v. Countywide, was decided against the plaintiff in lower and appellate court and the California state supreme court declined to hear it

2. If MERS or the various servicers who have had foreclosures overturned based on challenges to MERS thought they’d get a sympathetic hearing at the Supreme Court, they probably would have filed some time ago. MERS have apparently been settling cases rather than pursue ones where it though the judge would issue an unfavorable precedent

3. The case in question, from what the experts I consulted with and I can tell, is not the sort the Supreme Court would intervene in based on the issue raised, which is due process (14th Amendment). But none of us have seen the underlying lower and appellate court cases, and the summaries we’ve seen are unusually unclear as to what the legal argument is. [read more]

Iowa Says State AG Accord Won’t Release Banks From Liability

The 50-state attorney general group investigating mortgage foreclosure practices won’t release banks from all civil, or any criminal, liability in a settlement, Iowa Attorney General Tom Miller said. [read more]

Fed Launches New Formal Enforcement Action Against Goldman Sachs To Review Foreclosure Practices

The Federal Reserve Board has just launched a formal enforcement action against Goldman Sachs related to Litton Loan Services. Litton Loan is the nightmare-ridden mortgage servicing unit, a subsidiary of Goldman, that Goldman has been trying to sell for months. They penned a deal to recently, but the Fed stepped in and required Goldman to end robo-signing taking place at the unit before the sale could be completed. Sounds like this enforcement action is an extension of that requirement. [read more]

Goldman Sachs, Firms Agree With Regulator To End ‘Robo-Signing’ Foreclosure Practices

Goldman Sachs and two other firms have agreed with the New York banking regulator to end the practice known as robo-signing, in which bank employees signed foreclosure documents without reviewing case files as required by law, the Wall Street Journal said. In an agreement with New York’s financial-services superintendent, Goldman, its Litton Loan Servicing unit and Ocwen Financial Corp also agreed to scrutinize loan files for evidence they mishandled borrowers’ paperwork and to cut mortgage payments for some New York homeowners, the Journal said. [read more]

Banks Still Robo-signing, Filing Doubtful Foreclosure Documents

Reuters has found that some of the biggest U.S. banks and other “loan servicers” continue to file questionable foreclosure documents with courts and county clerks. They are using tactics that late last year triggered an outcry, multiple investigations and temporary moratoriums on foreclosures. In recent months, servicers have filed thousands of documents that appear to have been fabricated or improperly altered, or have sworn to false facts. Reuters also identified at least six “robo-signers,” individuals who in recent months have each signed thousands of mortgage assignments — legal documents which pinpoint ownership of a property. These same individuals have been identified — in depositions, court testimony or court rulings — as previously having signed vast numbers of foreclosure documents that they never read or checked. [read more]

JPMorgan Fined for Contravening Iran, Cuba Sanctions

JPMorgan Chase Bank has been fined $88.3 million for contravening US sanctions against regimes in Iran, Cuba and Sudan, and the former Liberian government, the US Treasury Department announced Thursday. The Treasury said that the bank had engaged in a number of “egregious” financial transfers, loans and other facilities involving those countries but, in announcing a settlement with the bank, said they were “apparent” violations of various sanctions regulations. [read more]

This Is Considered Punishment? The Federal Reserve Wells Fargo Farce

What made the news surprising, of course, was that the Federal Reserve has rarely, if ever, taken action against a bank for making predatory loans. Alan Greenspan, the former Fed chairman, didn’t believe in regulation and turned a blind eye to subprime abuses. His successor, Ben Bernanke, is not the ideologue that Greenspan is, but, as an institution, the Fed prefers to coddle banks rather than punish them.

That the Fed would crack down on Wells Fargo would seem to suggest a long-overdue awakening. Yet, for anyone still hoping for justice in the wake of the financial crisis, the news was hardly encouraging. First, the Fed did not force Wells Fargo to admit guilt — and even let the company issue a press release blaming its wrongdoing on a “relatively small group.”

The $85 million fine was a joke; in just the last quarter, Wells Fargo’s revenues exceeded $20 billion. And compensating borrowers isn’t going to hurt much either. By my calculation, it won’t top $20 million. [read more]

Exclusive: Regulators Seek High-Frequency Trading Secrets

U.S. securities regulators have taken the unprecedented step of asking high-frequency trading firms to hand over the details of their trading strategies, and in some cases, their secret computer codes. The requests for proprietary code and algorithm parameters by the Financial Industry Regulatory Authority (FINRA), a Wall Street brokerage regulator, are part of investigations into suspicious market activity, said Tom Gira, executive vice president of FINRA’s market regulation unit. [read more]

And here’s part of the Collapse Roundup I wrote on August 25th, referenced in the beginning of this report – as you will see, I would probably make a lot more money as an investment adviser:

Collapse Roundup #5: Goliath On The Ropes, Big Banks Getting Hit Hard, It’s A “Bloodbath” As Wall Street’s Crimes Blow Up In Their Face

Time to put your Big Bank shorts on! Get ready for a run

The chickens are coming home to roost. Reality is catching up with the market riggers (Fed, ECB, PPT, CIA) and the “too big to fail” banks are getting whacked. Trillions of dollars in bailouts and legalized (FASB) accounting fraud cannot save these insolvent zombie banks any longer. The Grim Reaper is on the horizon and his sickle will do what paid off politicians won’t, cut ‘em down to size. So get your silver stake ready, time to plunge it into their vampire squid hearts….

What about Warren Buffet? He saved Goldman Sachs with a bailout in 2008. Can he save Bank of America?…

Warren’s bailout will help BofA over the short run, but $5 billion is just a drop in the bucket when it comes to their problems. The only thing his $5 billion will accomplish is a temporary run up in stock value so everyone who has been killed on the plummeting stock price can then jump out without complete loss….

Trouble a-comin’…

Goldman Sachs TANKS After CEO Lloyd Blankfein Hires Famous Defense Lawyer

Is the Goldman Sachs CEO facing a new lawsuit?

The market seems to think so. Goldman Sachs just tanked in minutes before the close after news that Lloyd Blankfein hired a lawyer famous for defending vilified execs. It’s back up a bit since dropping over 5%, but the news is still concerning.

It’s unclear whether the lawyer is for him, Goldman Sachs, or both, but Goldman Sachs’s CEO Lloyd Blankfein hired Reid Weingarten, a high profile defense attorney who says “I’m used to these monstrously difficult cases where everybody hates my clients,” according to Reuters.

Reuters says the hire might have something to do with accusations of Blankfein’s committing perjury. Or something else:

One former federal prosecutor, who was not authorized to speak publicly, said Blankfein may have hired outside counsel after receiving a request from investigators for documents or other information. [read full report]

Speaking of hiring lawyers…

The Global Banking Cartel’s Crimes Are Being Exposed Left & Right… Blowing Up In Their Face… Prepare for Shock & Awe… BOOM!

Moody’s exposed:

MOODY’S ANALYST BREAKS SILENCE: Says Ratings Agency Rotten To Core With Conflicts

A former senior analyst at Moody’s has gone public with his story of how one of the country’s most important rating agencies is corrupted to the core.

The analyst, William J. Harrington, worked for Moody’s for 11 years, from 1999 until his resignation last year.

From 2006 to 2010, Harrington was a Senior Vice President in the derivative products group, which was responsible for producing many of the disastrous ratings Moody’s issued during the housing bubble.

Harrington has made his story public in the form of a 78-page “comment” to the SEC’s proposed rules about rating agency reform….

Here are some key points:

* Moody’s ratings often do not reflect its analysts’ private conclusions. Instead, rating committees privately conclude that certain securities deserve certain ratings–but then vote with management to give the securities the higher ratings that issuer clients want.

* Moody’s management and “compliance” officers do everything possible to make issuer clients happy–and they view analysts who do not do the same as “troublesome.” Management employs a variety of tactics to transform these troublesome analysts into “pliant corporate citizens” who have Moody’s best interests at heart.

* Moody’s product managers participate in–and vote on–ratings decisions. These product managers are the same people who are directly responsible for keeping clients happy and growing Moody’s business.

* At least one senior executive lied under oath at the hearings into rating agency conduct. Another executive, who Harrington says exemplified management’s emphasis on giving issuers what they wanted, skipped the hearings altogether. [read full report]

BOOM! The SEC Caught Covering Up Wall Street Crimes:

Matt Taibbi Exposes How SEC Shredded Thousands of Investigations

An explosive new report in Rolling Stone magazine exposes how the U.S. Securities and Exchange Commission destroyed records of thousands of investigations, whitewashing the files of some of the nation’s largest banks and hedge funds, including AIG, Wells Fargo, Lehman Brothers, Goldman Sachs, Bank of America and top Wall Street broker Bernard Madoff. Last week, Republican Sen. Chuck Grassley of Iowa said an agency whistleblower had sent him a letter detailing the unlawful destruction of records detailing more than 9,000 information investigations. We speak with Matt Taibbi, the political reporter for Rolling Stone magazine who broke this story in his latest article….

KA-BOOM! The Fed And All Their Crony-Capitalist Cartel Members Exposed, Yet Again:

Wall Street Pentagon Papers Part III – Are The Federal Reserve’s Crimes Still Too Big To Comprehend?

Another day, another trillion plus in secret Federal Reserve “bailouts” revealed. Bloomberg News exposes this latest Fed “deal” after winning a long Freedom of Information Act (FOIA) legal battle to get the details on what was done with the American people’s money. Their report runs with an AmpedStatus style headline: “Wall Street Aristocracy Got $1.2 Trillion From Fed.”

The aristocracy is alive and well… thanks to the Fed, of course.

Keep in mind, this $1.2 trillion is in addition to the $16 trillion the Government Accountability Office (GAO) audit revealed and the over $2 trillion in Quantitative Easing the Fed dished out, not to mention the now continued promise of the Zero Interest Rate Policy (ZIRP). This is also separate from the $700 billion TARP program that Congress approved. This is yet another unknown secret program, throwing another mere $1.2 trillion in public money at the Wall Street elite (global banking cartel), just being revealed now.

Those of us paying attention over the past three years have had Fed crony-capitalism on steroids fatigue for awhile now. Nonetheless, this is deja vu all over again as another mindbogglingly huge story that must be covered comes to light.

Here are the details of this latest revelation:

[read full report]

Speaking of the $16 trillion GAO audit…

BOOM! GAO audit exposed, missing some vital details:

More on How the GAO’s Fed Audit Failed to Disclose Some Dirty Secrets about BlackRock and JP Morgan

In its review of the Fed’s outsourcing practices, it failed to mention the most damaging and suspicious sole-source (no bid) contract awarded to BlackRock, which was for handling the New York Fed’s toxic Bear Stearns portfolio, otherwise known as Maiden Lane. This contract would generate $108,000,000 in fees and was one of the largest awarded during the bailout period, but it might also have saved JP Morgan $1.1 billion in losses from its Bear Stearns acquisition….

Also, BlackRock was also one of the managers of the NY Fed’s separate $1.25 trillion MBS purchase program as part of QE1. Contrary to the lie on the NY Fed’s webpage (that the MBS auctions were conducted via competitive bidding), the NY Fed’s own purchasing manager, Brian Sack, admitted in a paper that, “the MBS purchases were arranged with primary dealer counterparties directly, [and] there was no auction mechanism to provide a measure of market supply.”

Putting it all together, it looks like Jamie Dimon signed off on hiring BlackRock for no justifiable reason to trade the very Maiden Lane portfolio that could have caused his bank, JP Morgan, to lose up to $1.1 billion. And, it was entirely possible that BlackRock saved the portfolio by trading the MBS portion of ML with the New York Fed directly as QE1 was underway. [read full report]

BOOM! Bear Stearns exposed:

Report Says Bear Stearns Executives Sold Illegal RMBS and Covered It Up

Former back office employees from Bear Stearns are coming out of the woodwork to explain how Tom Marano’s mortgage group cheated their own clients out of billions. This week I reported at The Distressed Debt Report, EMC insiders say they were told to make up the classification for whole loans, packaged into mortgage securities, to get them switched out of the trust. By classifying the loans as ‘prepaid’ or having ‘subsequent recoveries’ Bear employees were able to fool the trustee into giving them back loans they were not able to legally service. A move New York Attorney General Eric Schneiderman is actively investigating now.

In my latest DealFlow story we hear from EMC staffers who describe how subprime loans, that would have been sold by Bear Stearns trader Jeff Verschleiser’s team, never had a proper servicing license in West Virginia when they were packaged into the residential mortgage backed security. In 2003 Bear/EMC put $100 million of subprime loans from West Virginia into a few RMBS transactions. EMC, the banks wholly owned mortgage servicing shop, would service all of Bear’s RMBS after they were sold.

A year latter, when senior executies realized the mishap instead of Bear going out and informing their regulator and applying for a license, they orchestrated a cover up and even threaten EMC employees not to talk about it. [read full report]

The big banks are getting lit up!

You shall reap what you sow.

Karma is a … [email protected] [read full report]

Let’s end with this video. We need to keep in mind that the Federal Reserve has known about all of this criminal activity from the start. Yet, they have done everything they could, and are still trying, to keep this criminal operation up and running. As all these criminal banks begin to blow up, let’s not forget who their central bank is and what they have done to the American people.

Cenk, take it away and drive the point home:

About the author:

David DeGraw is the founder and editor of AmpedStatus.com. His long-awaited book, The Road Through 2012: Revolution or World War III, will finally be released on September 28th. He can be emailed at David[@]AmpedStatus.com. You can follow David’s reporting daily on his new personal website: DavidDeGraw.org

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  • lauchlan.giddy

    MMMMMM, how Bot-esque. been waiting for stuff like this, Bot predictions, to happen.

  • D3N

    Rather! This was a very great article. Thanks to your supplied info.

  • Honeybee73

    Its the end of the world as we know it

  • Qanni Katifa

    I love David DeGraw. The best hope we have is in the young people today!!! They will save this country. At 72 it is OK for me to say that.

    • Veronica

      Sweetie, if you knew how much money you would get at your age if you stood up and took action, you would not be saying that. But let me show you a website that could help: http://www.state-citizen.org read the files in the “Files room”, then go to your local law library to check out their accuracy. Then after that, email the web owner about how you can start the process. When you finish this “Process” you will have tons of money and be able to finally relax in your age and wisdom the way our founding fathers intended everyone in america to be. Happy reading. 🙂

  • jooberdoober

    They all will end up paying only a small fine, if that.

  • Keles

    “And I feel fine.” No, really. The world as we know it is broken and nonsensical. Time for a reboot of the way we do things economically and politically.

  • geeegee

    I hope they all hang for cannabalizing our country.

  • david

    So ya this is great. But will any of us who lost over half of our retirement funds get any refund at all? Or will we still have to live on the street in our old age?

    • roger

      yes, I’m afraid we probably will. Those who manage take down the current lords of the banksters will keep all their spoils and ey thcould care less about those of us little people who have worked all our lives and had our retirements stolen. they will probably decide to make euthanasia legal and then encourage us all to commit assisted suicide so they won’t have to look at all that unsightly protracted starvation in the streets business…

  • Christin

    liked the collapsed wallstreet bull picture.. its the golden calf of the wallstreet elite.

  • Barney Rubble

    Tick Tock.

    • kevin

      we all need to work togather to solve fix things

  • mp3rmd

    Just think if we had known last year that this was actually going to begin as predicted. I thought it could happen, but never thought it would. It is going to be very interesting to watch. I wonder if the foreclosures will slow down any. After all, the crooks have been paid many times over for the loans, so why do they really need the houses…especially when the banks are starting to donate them to charity (see today’s post on Living Lies)

  • [email protected]

    Way to go! Wake up world.

  • Bonita Siegel

    oh what a tangled web. Best to go to the strongest regulation possible – no long term SB investigation – just give em rules and put lots of regulator auditors to work! spend the money on auditors instead of bailouts

  • Steve

    Notably Absent from lists of banks that people seem concerned about; US Bancorp. Am I the only one who realizes US Bank is a BANK? It’s got BANK in the name. I see people up in arms about Chase, BofA, Citibank and Wells Fargo all the time, but what about US Bank? What, did they sponsor the Occupy movement or something? US Bank is just as guilty of monopolizing, with 167 mergers and acquisitions since 1982. Why does nobody care about US Bancorp?

    • Lisa Bennett

      Doesn’t US Bancorp contribute to the Codex Commission? That would be your answer. Anyone who contributes to Codex is above all laws…

  • USAwesome

    Hmmm strange. The media here does not like for us to know this- because I have not heard of this anywhere on the news. Go figure!

    • NowWeDoNeedChange

      That is because Obama is the medias’ boy, they love this clown and don’t want to expose how much of this is his doing.

  • Steven

    So you talk about stealing Trillions, and paying back Billions. How exactly are the Banks being hurt by that?
    Small court room fines are not enough!
    It is just smoke and mirrors. No amount of court room activity is sufficient to ameliorate the problem. The banking structure needs to be changed. You will not get the people off the streets (the protesters) with anything less, not a single bank exec or board director has faced criminal charges, and I still do not see any chance of that happening.

  • That was certainly a very useful piece of information, well researched and presented! Thank you! It is not often that we get such information here in Europe!

  • Ottawan

    Good to see that some of the details of these events may become known to the public but will it change anything? Not likely. The principals will meet in private and hammer out some deals. While this is happening it will be business as usual as it has been since 2008.

  • Lisa Bennett

    They’re not going to pay for anything. Whatever they have to pay in settlements, we, the Taxpayers, will have to dish out in more bailouts. And as for exposure.. what’s to expose? We all know they’re corrupt at the most basic level and yet we still continue to do business with them. So really, where is the justice? They’re laughing all the way to the bank….

  • Hugh Mann

    This is a fantastic article!

    A million thanks!

  • NowWeDoNeedChange

    Finally, after trillions in fraudulent activity, trillions in bailouts, trillions in printed money, billions in political bribing and billions in bonuses, the criminal cartel members of the Obama regime are set to be voted out of office and exposed as the elitist, pseudo-compassionate, power hungry, America hating, Commie Rats that they are, GOOD RIDDANCE !!!!!!!!!!!!!!!!!!!!!!

    • EyeRoll

      Don’t make me laugh. Let’s not forget Bush and all his Merry Men aka war criminals.

    • Scoop

      Thankfully the Obama administration is finally exposing and trying to bring justice to this situation. If the Republicans continue to use tactics to stop his appointing people who will do this we are lost. It is the republicans who created this situation – with the help of the democrats – it is the lack of understanding that we are all one and to create wealth for a few is counterproductive to the future of humanity.

  • Htfd

    This is great. But, this is one side of the coin; call it heads the fraud side. Now we need tails, names of all those who were bribed so they can be put in cells next to the con artists.

  • bunkhabit

    Gee. So, now all we have to do is sit and wait for ever for the courts to “handle” all of this? Ever tried to get any justice of your own in a court? It takes for ever/never and destroys you financially along the way… These days even a simple nothing costs a fortune and takes for ever/never with appeals. Ugh…

  • Jon doe

    The goal is moving forward and abroad while you sit your ass on your damn couch watching jersey shore or whatever senseless non real problem so called reality TV show it is. The nwo is happening behind the scenes or right in your face with the goal in mind of breaking down walls of our economy keeping your money where the frontrunner’s of these secret organizations can a mass this way to capitalize the war on terror to further steal your rights and ultimately have full control over you. Fall of the euro then fall of our reserve currency. Now we can unionize 4 regions of the globe under one currency. Wake up everyone you visit the Alex Jones website watch the news and for Pete’s sake vote. But then again that’d probably b a fixed deal…….. still worth your time. Ron Paul!!!!!!!!!!!but then again you would declare yourself a terrorist……haha we should quit paying the man all together….show him who’s boss power of the people. RISE UP!!!!!!!!!!!!!!

  • SalemsLights

    FHA Files a $196 Billion Lawsuit Against 17 Banks

    what a joke and and they took what.. 4 trill i don t think 196 bill is going to let them loose any sleep.. LOL
    this lawsuit is BS for msm…..FHA….GOV bs to

  • terry perkins

    shoc and all

  • Chris Louthan

    Good!!!!! They deserve everything that’s coming to them. Crooks, Criminals, and Greed. All for me and none for you mentality. Thank You all for taking more than your share. The worst thing is, is that NO BODY is taking it with them when they die. These poor souls.

  • KageBunshin

    consolidation still

  • Bill

    Deals will be done. A slap on the wrist is all that will happen to these crooks. Then it will be business as usual.

  • Doug Diggler

    A falling out among thieves is never unexpected.

  • Andy

    Awesome, hopefully they will utterly destroy each other, it will save us the trouble. Hopefully we’ll all live to see the day when the present global financial/banking system is just a bad memory!

  • Howard T. Lewis III

    Civil war? i do not see any injuries. Are soldiers and innocent civilians the only ones allowed to bleed?

  • This will all fall on the U.S. taxpayer – any court judgement in favor of the Defendant, will end up being paid by taxpayers, just like the 16.1 Trillion $$ (No-Banker-Left-Behind) Bailout of Oct/Nov 08.

    This system is getting ready to TOTALLY TANK. Are you prepared?

  • Surprized Daily

    The Govt. owns these Corporations via Stocks by means of YOUR tax dollars, fines, toll road fees, license fees and any other means you’ve given the Govt. fees~ Everyone needs to get educated on the CAFR’s aka Comprehensive Annual Financial Reports that all entities post yearly! Starting at your Local level, State and Federal levels! They’re all investing YOUR money via the Stocks of these multi-national Corporations! Now, your so-called Govt. owns the major portions of ALL the huge Corporations! Everyone keeps pointing the blame at the Corps. without having the slightest hint that those Corps. are now OWNED by Govt.! Wake up people! You’re being traded on the Stock Market as well via your Birth Certificate! It’s also a security instrument!

  • Paris

    Wasn’t it the Congress who threatened to sue banks that didn’t make loans to unqualified people? Wasn’t it the Congress that let derivitives go un regulated? It’s curious how everyone blames only the banks and not the Congress.

  • Albert Eggert

    In 1913 America went on a Trip.
    They allowed Federal Reserve to form their little Bliss.
    Since that date the Americans have been on the Flip.
    The Fed’s knew one day they might have to answer to the American when they became Hip.
    Now the Fed’s scream to the Government to aid them with their Chips.
    The Government says to the Fed’s were in this togather and we will give the Americans the Slip.
    We’ll drop the Americans to their knees and we’ll put them on a sinking Ship.
    If that does not work we’ll put the Americans to the Whip.
    After all in the end we will carry on leaving the Americans crying and at the end of their Wits.
    Respectfully Submitted,
    Albert Eggert

    • RonW

      Can I repost that? Way better communicator than I am. sweet

  • RonW

    Great Job David and thank you for your time and efforts.

    That would be our hidden masters that used money, extortion, threat, blackmail and even murder to turn decent men into TRAITORS and SELL OUTS to STEAL AMERICA and her peoples DREAM.

    Those same HIDDEN MASTERS gave us in the same year THE I.R.S. and FEDERAL PERSONAL INCOME TAX. Both the Federal Reserve Act, and Tax Act of 1913. Were ACTS of WAR against We The People and America. As defined by the Constitution itself.

    The FEDERAL RESERVE is not a US Governmental Institution. It is a PRIVATELY OWNED and OPERATED FOR PROFIT Corporation. That is now known by all who have looked. The biggest FRAUD and ROBBERY to ever have taken place in human history. The very reason the framers put the managing, minting, and setting the value of America’s GOLD and SILVER money into CONGRESSES JOB DESCRIPTION. Is because CONGRESS is accountable to us. We The People. And by the very use of the words Gold and Silver their intent can not help but make clear their fears of FIAT money, and the perils associated with it. Reserved fractionalized money is not something new.
    The Muslim Sharia laws make lending money at interest a crime against GOD. Something NOT treated like a parking ticket. Our hidden masters have managed workarounds there too.

    Fast Forward 1931
    A bill introduced and perfected into law. gives Our Hidden Masters over at the Federal Reserve Banks an almost bullet proof legal firewall. Protects them from financial liability of any kind that might be caused by The Federal Reserve Act of 1913.

    Fast forward 1933
    A bill introduced and made law. The authorization to manage OUR money in 100 percent complete SECRECY! No questions allowed. And the band played on. It’s all downhill from here.

    Same year 1933
    The pukes persuaded our sitting president to issue an EXECUTIVE ORDER that turned, We The “Prudent” Peoples of America that saved for a rainy day into HOARDERS that are required under force of law to TURN IN our earned by sweat of brow, and pain of back GOLD and SILVER BULLION, and COINS. With the exception of collectables, vintage,and sentimental. To the FEDERAL RESERVE BANKS. And in return they would give us paper FEDERAL RESERVE NOTES. Note this law excepted BANKERS and OTHER COMMODITY INVESTERS

    Fast forward to 1963-1964
    President John Kennedy and his Brother BOBBY and Our US Attorney General are murdered. John, just two weeks after setting into motion his plan to take back America and We The Peoples money from the our hidden master over at the FED by abolishing it. The FRAUD and DECEPTION used to bring in its creation under the general peoples radar. The very name chosen “FEDERAL RESERVE” was a conspired, and used by design to create the Illusion of governmental association. And it should be noted to have worked very well until recently. It gets even sicker.
    To add insult to injury, and fire a warning shot across the bow of any person aware of this information and just how much America had been raped and robbed of her wealth. They had John Kennedy’s Profile minted onto the face of the 1964 SOLID SILVER DOLLAR. Which they started taking back out of our hands by withdrawing from circulation along with 50 cent pieces, quarters, and dimes. And of course they did give us back CLAD COPPER in 1965.

    Fast forward to 1970-1971
    Nixon convinced by the FED. in order to secure what little of the GOLD that is not owned by the FED and stored in Fort Knox Kentucky should be legally removed as the backing of America’s Gold and Silver Certificates since that would allow The FED to EXPAND / PRINT more money to fund the VietNam POLICE ACTION and COLD WAR Threats. NUKES, STRATEGIC AIR COMMAND and so on. The silver and gold certs. that people still had saved up under their pillows could not be withdrawn from circulation as worn or damaged dollars are. Nixon Complied.

    Google search DANIEL WEBSTER / America’s money. See wikipedia.

    If those of you reading this that are not afraid of the truth that is going to get even more putrid. Keep reading. The rest. just go back to watching I’m not the baby’s daddy.

    The tax act violates the constitution as at the time. We were NOT at war. Individual incomes taxes could be taxed for the funding of an ARMY. But to be terminated at wars end. Says the our US

    Fast forward through, Watergate and ????.gates to 9-11-2001 and Bush Junior gives us The PATRIOT ACT! and on to 12-2011
    And Obama takes an axe and add more damage to our US Constitution by signing the NDAA bill that will allow US troops to be used against American citizens. For you sleepers I would suggest the finding of a barf bag on continue reading this near your toilet. For those that think you know what I’m going to say. You only know a part of it.

    Many believe all this breaking and sidestepping of the protections our constitution provides We The People, that appear to be destroying our once great nation, have but one intention. That being, to turn The US as a broken nation and peoples over the UN and friends to usher in their already failing GLOBAL WORLD GOVERNMENT formerly known as THE NEW WORLD ORDER. that Bush senior called in his 1991 speech. A BIG IDEA While that is partially true. Most Americans that spend too much believing the crap their favorite political double speaking bobble heads tell them. And because of that. When somebody try’s to educate them to what is really happening the scratch their heads and decide to call those people wing nuts tin hats and etc. I would too were it not for this next and relatively new bit of information to make the light of day. After all. Our Elected officials would not do that to us right? In most cases that would be right. Would have perfectly fine to make that assumption prior to 1913. What most don’t understand is just how insidious that ONGOING CRIMINAL ACTIVITY has been. And until last week. Neither did I. While We The People were all preoccupied watching, The Iranian People throw out the Shah of Iran, that we shoved down their throats, Iran Contra, whitewater, Spoogegate, and all the other gates, Kuwait, Seniors Iraq War, The hunt for Weapons of mass D”I”istraction, Taliban beating up their women, 911, and Bush Juniors War on Iraq another bill was introduced and signed into law. This law is what has a large number of our LAW MAKERS scampering about trying to fund clean underwear to put on. This law provides our LAW MAKERS whose decisions can move the STOCK MARKET up and down. with special protections not afforded to other Americans.

    In a nut shell. We Americans could throw out every one of them. Hold an auction tomorrow for their seats. Make enough money to pay off our National debt. And look in the house chambers day after tomorrow only to find the same faces staring back at us.
    As we speak they are trying to undue that, about to blow up their world bit of underhanded nonsense. And the reason all this is happening is because one little old man. Who stands taller than all of them put together has drawn a line in the sand and said EFUCKINGNUFF! This man has beat his head against the wall for America. Not the America that is being led by the nose into doing the hidden ones bidding. That travel through the revolving
    back door at the FED, as they make their way in and out the revolving doors at the CFR, TriLateral and other places that spans oceans and reach all the way to Rome, London, Zurick, Columbia, Paris, Brussels, Berlin, and more.
    Ron Paul fights for the America that used to grow food, load it into military planes and boats and deliver to starving nations. Not the America that pays its farmers NOT to grow food and fills those planes with death and destruction for delivery to starving nations. And Ron Paul continues to fight for the America that once upon a time really was Kansas, and Yes when times got tough you could click your heals together to at call up memory’s of a nation that was at its core good.

    The RNC has an empty tool chest. No stallion in the stable. Nothing in the study but a malware infected pc. The laundry room needs activity. The powder room filled with pretty faces getting ready for the next debate. A broom closet with open door, and a living room with an energetic old man cleaning up the remnants of a shattered wall hanging picture frame, and removing the glass shards from a copy of our US Constitution.

    And yet. Most of you sit and talk about the wannabees that the RNC and their media lapdogs want you to talk about.

    This is for John and Bobby Kennedy May they rest in peace.

    For those that really care about America and interested in taking her back from the scoundrels that stole her and our self esteem 98 years ago in 1913 All of America’s serious currant and past problems begins on 12-23-1913 when the FEDERAL RESERVE ACT was made law. America’s problems will continue until the moment that TREASON is abolished.
    You will be hearing from We The People Washington, Obama get out you pen and undue what are nothing short of TREASON (i.e.)
    Patriot ACT, The NDAA subsets embedded inside an appropriations bill of all things, The FED ACT of 1913 and all its additions.

    ERIC HOLDER IF YOU DO NOT ACT. YOU ARE AIDING AND ABETTING IN AN ONGOING CRIMINAL ACTVITY. AND when the fog clears. And people really take a good at The Patriot Act and This latest attack on our Constitution. That beautiful document will come shining through, and to our defence. Once People realise what the changes made to it were really ment to accomplish. That being the removal of its teeth where the protections enjoyed by We The People are concerned. While leaving the shell of the document intact just enough to give relevance to the very notion of keeping our legislative houses in place. NO CONSTITUTION = NO LEGISLATIVE HOUSES = NO AMERICA. And our Constitution defines that kind of attack on it as an ACT OF WAR Those taking part in this madness are in fact guilty of GIVING COMFORT TO THE ENEMY! Anybody got any rope?

  • Greg

    Honest Americans need to take this country BACK from the EVIL CABAL! Heads MUST ROLL if this is going to amount to ANYTHING!

  • J.C. Meeks

    What are the american people to do. Well my friends, as a viet nam veteran, im not sitting back and doing nothing. First of all, these fat bastards in congress, ( rep & dem ) have got to be replaced. They honestly think they own us. BOOT THE BASTARDS OUT. Thats our job. they are voted in to office and we put them there. Now, we as the people, need to change that. For some strange reason, we dont have a single person running for president that i will vote for. Thats sad. Now as far as these financial inst. go, well im all for credit unions. the rich will keep getting, thats a given, but we need to make it harder on them. Loan modifications, please. Thats the biggest joke of the year. Just goes to show how stupid people are in washington. give me a break. Lets take our Great Country back from these idiots in washington. If voting doesnt work, we the people still have the ability and right to impeace the fools. This is 2012 folks and we’re running out of time fast. Where is Sara when ya need her. ha . We have got to take our country back right now. We have got to put a stop to all these foreclousers, and leave the american dream alone. Lets all stand together.

  • Social Credit – the only way to stop banking crimie. Yes, what’s all around us is a crime – debt, interest etc. We’ve to stop it NOW!!!!

  • Tamica Hollerman

    I am very glad to see such great information being shared freely out there.