When Fraud is Not Fraud: When You’re a Banker

24 Feb

How is it possible that the simple rule of law does not apply to Banks?

Witht he recent resport that 84% of all foreclosures going through the system are illegal; how is it that the foreclosures continue to go on? Why hasn’t a national moratorium imposed a stop to all foreclosures until such time as it can be shown that at least 8 our of 10 of them are not illegal???

How is it that fraud and perjury on the courts is not a crime when a bank does it?And how can Americans stand by in silence as their fellow citizens are thrown to the streets using fraudulent and illegal means?

This piece from TruthOut sheds a little light on the reality of the current financial crisis for all Americans: and the final line of the piece puts it all in very clear perspective…

The Obama administration has just made everyone else the sucker.

Why the Banks Are Too Big to Jail

Washington, DC – Among the fundamental principles of any functioning justice system is the following: Don’t lie to a judge or falsify documents submitted to a court, or you will go to jail. Breaking an oath to tell the truth is perjury, and lying in official documents is both perjury and fraud. These are serious criminal offenses, but apparently not if you are at the heart of America’s financial system. On the contrary, key individuals there appear to be well compensated for their crimes.

As Dennis Kelleher of Better Markets has argued, the recent so-called “robo-signing” settlement – in which five large banks “settled” their legal liability for carrying out fraudulent foreclosures on mortgages – is a complete sell-out to the financial industry.

Read the Full Aricle Here: Why The Banks are Too Big to Jail


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