11-03-18 New efforts by the US to restore banking regulation are doomed // Los nuevos esfuerzos por los EE.UU. para restaurar la regulación bancaria están condenados // 美国新的努力，恢复银行监管，是注定

Zach CarterHUFFPOST REPORTINGzach.carter@huffingtonpost.com

Ex-Goldman Banker Behind WSJ 'Smear Campaign' Against Elizabeth Warren

WASHINGTON -- A Wall Street Journal editorial writer who has been closely involved with the paper's recent attacks on Elizabeth Warren is a former Goldman Sachs banker. The same editorial writer, Mary Kissel, is readying another piece critical of Warren and the new consumer agency, according to a source familiar with the coming article.

...

The headline of Thursday's Journal editorial is "President Warren's Empire," which goes on to say, "The consumer bureau is essentially a bureaucratic rogue. We'd like to see Congress kill the agency entirely. But at the very least Congress should remove it from the Fed, make it part of the Treasury and subject it to annual appropriations."

...

Read the full story:

http://www.huffingtonpost.com/2011/03/17/ex-goldman-banker-smear-elizabeth-warren_n_837185.html

____

Comment 

by Joseph Zernik:

The true concern should be whether the new agency has a chance at all to act any different than the existing 5 agencies that are supposed to engage in Banking Regulation in the US.

The true problem is two-fold:

• Widespread criminality in US banking operations, most notably at Bank of America. [1-4]
• Inability to prosecute banks and bankers today due to US court corruption. [5-7]

Therefore, no matter what the name or authority of the new agency would be, it is unlikely to be able to enforce the law.

LINKS:

[1] 10-05-05 Countrywide Bank of America NYSE BAC and its President Brian Moynihan Compilation of Records Evidence of Racketeering

http://www.scribd.com/doc/30975368/

[2] 10-05-05 Chairs of US Congress Committees of the Judiciary and Banking Are Requested to Join Senator Feinstein's Inquiries on Comptroller of the Currency

http://www.scribd.com/doc/30979882/

[3] 10-07-06 Complaint Filed with US Attorney Office Los Angeles Against Moynihan Bank of America [NYSE:BAC] Bryan Cave LLP Alleging Racketeering

http://www.scribd.com/doc/33971099/

[4] 10-07-06 Complaint Filed with US Attorney Office, Los Angeles, Against Brian Moynihan, Bank of America (NYSE:BAC), Bryan Cave LLP, Alleging Racketeering and Large Scale Financial Institution Fraud s

http://www.scribd.com/doc/33971099/

[5]  Zernik, Joseph: Securities and Exchange Commission v Bank of America Corporation - Pretense Litigation and Pretense Banking Regulation in the United States (filed in support of Request No 1 for impeachment of US Judge JED RAKOFF and Clerk RUBY KRAJICK, US District Court, Southern District of New York)

http://www.scribd.com/doc/44663232/

[6]  10-12-19 RE: Securities and Exchange Commission v Bank of America Corporation (1:09-cv-06829) - Addendum to Request No 1 for Investigation-impeachment of Judge Rakoff and Clerk Krajick

http://www.scribd.com/doc/45644678/

[7] 11-02-05 Request No 2 for Impeachment of Judge JED RAKOFF Clerk RUBY KRAJICK, US District Court, Southern District of New York, in Re Conduct of Lindner v Amex (1:10-cv-02228) s

http://www.scribd.com/doc/48244479/

11-03-18 Welcome Cambodia - Newest Country! // Bienvenido Cambodia - Pais Mas Reciente! // 欢迎柬埔寨 -最新的国家！

       

Newest Country Cambodia Last Visited March 18, 2011

11-03-18 Welcome China - Last New Visitor! // Bienvenido China - Visitante Mas Reciente! // 欢迎中国- 最后的新访问者！

Last New Visitor China Visited March 18, 2011

11-03-18 Welcome Germany! // Bienvenido Alemania! // 欢迎德国！

Last New Visitor Germany Visited March 18, 2011

11-03-18 Large-scale insurance fraud scheme - more evidence of racketeering at BofA! // Más evidencia de crimen organizado en el Bank of America! // 更多的证据在美国银行的诈骗！

More and more evidence is coming from all directions, but US regulators will never take action!  BofA is vested in effective indemnity for criminality...


Overwhelming evidence of racketeering by BofA and Moynihan in the Los Angeles courts was exposed a long time ago.  [1-4]


The latest evidence is of a large-scale insurance and financial institution fraud.

 

"Can you say: 'RICO Act?' - Anonymous' Whistleblower Charges BofA With Large Scale Insurance Scheme

Posted by kpete in General Discussion
Mon Mar 14th 2011, 10:06 AM

Mon Mar 14, 2011 at 03:39 AM EDT
Naked Capitalism: Anonymous' Whistleblower Charges BofA With Large Scale Insurance Scheme
by bobswern
After reading about why this latest whistleblowing effort presented via hacker group Anonymous may very well be a bit more of a smoking gun than I even thought (after first reading about it over the past couple of hours), checkout Krugman's latest on the incredible fail of our states' attorneys general, in their supposed effort to "get tough" with the mortgage industry. He refers to it in his headline in Monday's NY Times as: "Another Inside Job." (Gotta' love that.)
http://www.nytimes.com/2011/03/14/opinion/...
Here's Yves: "Wikileaks Whistleblower Charges BofA With Large Scale Force Placed Insurance Scheme With Cooperation of Servicers."
http://www.dailykos.com/user/deepsouthdoug 

Read the full story:

http://journals.democraticunderground.com/kpete/17144

Ties to Insurers Could Land Mortgage Servicers in More Trouble

Force-placed policies impose costs on both homeowner, investor

American Banker  |  Wednesday, November 10, 2010

When banks buy insurance on the homes of borrowers whose policies have lapsed, they get a great deal. Just not for the homeowners and investors who have to pay for it.

Nominally purchased to protect the owners of mortgage-backed securities, such "force-placed" insurance can be 10 times as costly as regular policies, raising struggling homeowners' debt loads, pushing them toward foreclosure — and worsening the loss to investors on each defaulted loan.

Evidence of abuses and self-dealing in the force-placed insurance industry suggests that there may be far larger problems in how servicers are handling distressed loans than the sloppy document recording that has been the recent focus of industry woes.

Read the full story:

http://www.americanbanker.com/issues/175_216/ties-to-insurers-servicers-in-trouble-1028474-1.html?zkPrintable=1&nopagination=1

Bank of America Leak Exposes Alleged Force-Placed Insurance Fraud

OperationLeakS has now released the first batch of Bank of America (BAC) fraud documents. What has been disseminated so far consists mostly of emails between the hacker group Anonymous and a former employee at Balboa Insurance Co. which was acquired by BofA with its acquisition of Countrywide.

Operation #BlackMonday

One thing to clear up about these documents is that they are NOT the same documents held by Wikileaks. The documents just released by OperationLeakS Anonymous are mostly very recent emails and have nothing to do with the executive hard drive held by Wikileaks. In fact, the Anonymous leaker says he would love to see what Wikileaks has and says he could probably get "all the dirt" within a week of gaining access to it.

So, what do the latest leaked emails reveal? The most obvious thing is that Balboa/BofA employees were allegedly engaged in trying to hide original loan documents by erasing Document Tracking Numbers from scanned documents. See here.

But the Balboa employee also appears to have information that would blow the lid off a number of alleged Force-Placed Insurance scams that are highly questionable, probably illegal and most likely would expose companies like Bank of America to more suits by mortgage-backed securities investors.

Read the full story:

http://seekingalpha.com/article/258082-bank-of-america-leak-exposes-alleged-force-placed-insurance-fraud

________

[1] 10-05-05 Countrywide Bank of America NYSE BAC and its President Brian Moynihan Compilation of Records Evidence of Racketeering

http://www.scribd.com/doc/30975368/

[2] 10-05-05 Chairs of US Congress Committees of the Judiciary and Banking Are Requested to Join Senator Feinstein's Inquiries on Comptroller of the Currency

http://www.scribd.com/doc/30979882/

[3] 10-07-06 Complaint Filed with US Attorney Office Los Angeles Against Moynihan Bank of America [NYSE:BAC] Bryan Cave LLP Alleging Racketeering

http://www.scribd.com/doc/33971099/

[4] 10-07-06 Complaint Filed with US Attorney Office, Los Angeles, Against Brian Moynihan, Bank of America (NYSE:BAC), Bryan Cave LLP, Alleging Racketeering and Large Scale Financial Institution Fraud s

http://www.scribd.com/doc/33971099/

11-03-18 Welcome New Zealand! // Bienvenido Nueva Zelanda! // 新西兰欢迎！

Last New Visitor New Zealand Visited March 18, 2011

11-03-18 Message to Japanese Friends // Mensaje a los amigos japoneses // 消息日本朋友

Message to Japanese Friends


The origins of the Fukushima Crisis and the Financial Crisis are similar - a governmental integrity crisis and criminal abuse by large corporate interests at enormous expense to the People.


Los Angeles, March 18 – Joseph Zernik, PhD, released a message [1] sent to the organizers of the 16^th World Criminology Congress, Japan, August 2011.  The message expressed sympathy and confidence that by August 2011, it would be possible to hold an international meeting in Japan.

The message emphasized the similarities between the Fukushima Crisis and the Financial Crisis, the original theme of the Congress:

·         Failure of national regulatory systems;

·         Disregard by national governments of international duties and obligations;

·         Lack of intergovernmental trust and failure of international communications and cooperation;

·         Global failure of public trust in governmental integrity;

·         Criminal abuse by large corporate interests at enormous expense to the People.

Dr Zernik’s contributions to the Congress included papers discussing corruption of the US and California justice system as inherent to the current Financial Crisis. [3,4]

________

LINKS:

[1] See below.

[2] Zernik J: Fraud and Corruption in US Courts are Tightly Linked to Banking Fraud and the Global Economic Crisis

[3] Zernik, J: Corruption of the Courts and the Legal Profession in California Noted in a 2010 United Nations Report

________

March 18, 2011 Message to Japanese Friends

To:
From: joseph zernik
Subject: Hoping you are all well, and praying for your future...
Cc:
Dear :
My sympathy at this difficult time, hoping that you and your families are all well.  As before,  I also would like to confirm my commitment to participate in the 16th World Congress of Criminology in Japan, regardless of any inconveniences resulting from the Fukushima Crisis.
Long distance perspective may be arrogant, but it is offered in good will.  Based on my reading of reports from several sources the emerging, likely view of the Fukushima Crisis is:

• The situation is of major catastrophic nature; 
• Its dynamics may be placed under control; 
• As a result of the types of fuels and fission products, the long-term dangers may by far surpass those of Chernobyl; 
• Based on the construction,  plants and process design, the progress of the disaster may be slower and more predictable than that of Chernobyl; 

 The original theme of the 16th World Criminology Congress appears more relevant by the day:  The World Crisis. The Fukushima Crisis and the Financial Crisis share similar origins:

• Failure of national regulatory systems; 
• Disregard by national governments of international duties and obligations; 
• Lack of intergovernmental trust and failure of international communications and cooperation; 
• Global failure of public trust in governmental integrity; 
• Criminal abuse by large corporate interests at enormous expense to the People. 

The conclusions one may draw are:

• Planning, based on reliable data, of immediate measures for the safety and protection of the People is a must; 
• Inseparable is the need to regain credibility and gain effective cooperation,  both at home and abroad; 
• Reliable projections must be prepared, founded on reliable data and scientific methods, as soon as possible. 
• It may be beneficial to immediately accept select internationally reliable, credible experts in physics/engineering/medicine/logistics to get involved in intimate raw data analysis, interpretation, and domestic as well as international communications. 

All the best,

Joseph Zernik, PhD
Human Rights Alert (NGO)

Disclaimers:
1) The writer has no formal education in criminology, law, physics, math, or engineering.
2) The older I get, the more I realize how clueless I am... (Old Japanese Proverb)

11-03-18 Welcome Taiwan! // Bienvenido Taiwan // 欢迎台湾！

Last New Visitor Taiwan Visited March 18, 2011