Fischer placed Israeli banks above Israeli law, and with it is likely to leave after him in Israel a ticking banking crisis bomb. His disregard for the rule of law is no different than his student Bernanke's.
Fischer with his newly acquired Israeli ID in 2005. A 2012 Petition to the Israeli Supreme Court claims that that Fischer substituted his newly acquired loyatly to the State of Israeli and its law with loyalty to another nation and its law and/or loyatly to financial institutions and their interests.
Tel Aviv, April 10 - recent reports, [1] including comments by Paul Krugman, appeared to seriously consider the possible nomination of Stanley Fischer for Chairman of the Federal Reserve. Current Federal Chair Ben Bernanke, who was a student of Stanley Fischer, leaves his office in 2014.
Such reports cite Fischer's success in shielding Israel from the current global financial crisis.
The idea is misguided, in part for lack of understanding of Fischer's conduct as Bank of Israel's Governor.
The evidence shows that Fischer uncoditionally subjected Israeli banks to US law - FATCA - even before the law was made enforceable in the United States. [2,3]
With it, Fischer effectively subjected Israeli banks to the notoriously corrupt US banking regulation, undermined the rule of law in Israel and Israeli sovereingty.
Moreover, Fischer did not do so by issuing corresponding banking regulations. Instead, Fischer permitted and encouraged Israeli banks to fabricate their own FATCA regulations, and enforce them too. [3]
Accordingly, Petition filed with the Israeli Supreme Court - to compel Fischer to perform his duties and enforce Israeli banking regulation, pursuant to Israeli law - claimed that Fischer substituted his newly acquired loyatly to the State of Israeli and its law with loyalty to another nation and its law and/or loyatly to financial institutions and their interests. [4]
The petition was subjected to fraud on the court. [5]
Corruption of the US courts in banking related matters is central to the current financial crisis in the United States. [6]
Combined, the evidence shows that under Fischer's tenure in Israel, conditions have been established that are condusive to a US style financial crisis.
In short: Fischer is likely to leave after him in Israel a ticking banking crisis bomb. Moreover, his conduct in Israeli in this respect is no different than his student Bernanke's approach to banking regulation and the rule of law in the United States, with its disasterous outcome.
LINKS:
[1] 13-04-02 Who will be the next Fed chair? Here are Wonkblog’s odds_Washington Post
13-02-19 Paul Krugman doesn't think Fischer has edge to be picked to head the U.S. Federal Reserve_Haaretz
[2] 12 10 29 FATCA - Foreign Account Tax Compliance Act (2011) - Wikipedia and Forbes articles
http://www.scribd.com/doc/111468857/
[3] 13-02-06 Attorney James Jatras opinion in re: Bank of Israel's Stanley Fischer's January 27, 2013 FATCA Response Letter
http://www.scribd.com/doc/124247597/
[4] 12-10-23 PRESS RELEASE – Petition alleges Bank of Israel Fischer patronizes criminality at Bank HaPoalim, BM
http://www.scribd.com/doc/110868267/
[5] 13-03-04 Press Release: FATCA, Stanley Fischer, and altered records of the Supreme Court of the State of Israel
http://www.scribd.com/doc/128638635/
[6] 12-09-04 Zernik, J., "Design and Operation of the Electronic Record Systems of the US Courts are Linked to Failing Banking Regulation", Data Analytics 1:83-93 (2012)
http://thinkmind.org/index.php?view=article&articleid=data_analytics_2012_3_50_60059
