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| NY Throws A Wrench Into Crony Banksterism in forum [Market-Ticker]
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Mpilar
Posts: 5575
Incept: 2009-01-05
Nashville, TN
Online
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Amazing to see NY of all places get one right. Not only are they right...but as the state issues the corporate charter for the bank to operate there, they are perfectly within their right to revoke it...the feds have no say in it as long as NY state doesn't violate a law to do it.
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Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken
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Agau
Posts: 4919
Incept: 2010-06-04
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Its a good start but I think it is mostly an anti Iran move by New Yorkers than an anti bankster move.
And isnt amazing that apparently no other states have laws against stealing money or racketeering.
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Swrichmond
Posts: 327
Incept: 2009-02-12
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"Law" will only be enforced against the little guy. Banana republic.
Edit: Any little guy resisting the enforcement of said "law", even if only with words, will be branded a "terrorist."
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Asimov
Posts: 103857
Incept: 2007-08-26
East Tennessee Eastern Time
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I see a hot tub in his future.
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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
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Bburkava
Posts: 2
Incept: 2009-04-29
Philadelphia, PA
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Wearedoomed
Posts: 3584
Incept: 2009-01-14
slightly red state
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The only thing that shari'a law has going for it is its punishment for theft. Of course, punishment like that should only be meted out several bus stops past reasonable doubt.
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And you, my father, there on the sad height,
Curse, bless me now with your fierce tears, I pray.
Do not go gentle into that good night.
Rage, rage against the dying of the light.
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Debtpie
Posts: 534
Incept: 2009-12-17
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The cynic in me can't help but say...."I'll believe it when I see handcuffs". It's one thing to talk about doing something and maybe even taking initial steps...it's a whole another to actually follow it through. Quote:He (Mr. Lawsky)worked on high-profile cases for Mr. Cuomo, including charging Bank of America with misleading government officials about losses at Merrill Lynch during the financial crisis How many convictions and prison sentences came of that? Quote:On August 3, 2009, Bank of America agreed to pay a $33 million fine (later increased to 150 million), without admission or denial of charges, to the U.S. Securities and Exchange Commission (SEC) over the non-disclosure of an agreement to pay up to $5.8 billion of bonuses at Merrill. The bank approved the bonuses before the merger but did not disclose them to its shareholders when the shareholders were considering approving the Merrill acquisition, in December 2008. The issue was originally investigated by New York State Attorney General Andrew Cuomo...(aka Mr. Lawsky).. , Pay a $150 Million fine and we'll accept that nobody did anything wrong! Yeah, that's justice... This all makes for good headlines and future political ads...I'll withhold my excitement until I see an actual conviction and charter revoked. http://blogs.wsj.com/source/2012/08/08/m....http://en.wikipedia.org/wiki/Bank_of_Ame....PS> City government around here have been going nuts with traffic cams...now we find out that if a unionized city worker gets caught by the cams...they get a letter in the mail telling them not to do that...the rest of us get a fat ticket!
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A Leader, or an Opportunist? "A leader has the capacity of vision, the ability to see where things are headed before people in general see those things." Mitt Romney --- DebtPie's definition: a leader decides where "things" should head and "leads" us there.
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Ladyliberty
Posts: 100
Incept: 2012-05-08
Wisconsin
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Irishblues
Posts: 278
Incept: 2010-12-18
Wisconsin
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I have a much bigger problem with this phrase: Quote:... also complicates talks between the Treasury and London-based Standard Chartered to settle claims over the transactions ... Settle? WTF, what is there to settle? If StanChar violated U.S. law regarding money laundering [and especially to the tune of $250 billion], why the hell should it get to settle by paying a pittance of a fine? It's doubtful they would have been hit with even 1% of that figure; 0.1% might be pushing it - and I think we all know there would have been the standard "we admit no wrongdoing" statement as part of it [because no company that commits fraud or intentionally violates the law ever has to admit wrongdoing]. And where the hell was DOJ on this? Oh, that's right - they don't actually do anything any more like prosecute rampant law-breaking, they just sit around with their thumbs up their asses letting the inmates run the asylum and funnel guns to Mexico while cracking down hard on the recreational drug users who might have a couple blunts in their car that get found during a traffic stop [if they even do that now]. |
Swrichmond
Posts: 327
Incept: 2009-02-12
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It's extortion to balance the state's budget, just like the fraudclosure "settlement."
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Lumpeninvestor
Posts: 2339
Incept: 2007-10-16
98072, USSA
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Somewhere, a hooker is having her address book confiscated and "updated".
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Distributing insolvency only destroys the last remaining islands of solvency in a bankrupt world. - Charles Hugh Smith 8/23/2012
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Andysvw
Posts: 1715
Incept: 2010-06-26
Tujunga Ca
Online
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I like states and counties taking the lead on this. The feds are trying to destroy the states power. My hope is the states can drive a wedge between the feds and the banks. The banks are no longer friendly to the states. Crony BS is only effective when the power is in on it. The states need to wake up to the fact the banks are out to get them. It seems the best thing any state could do would be to set up a state bank. To run all state operations in a bank the state has control over. It would give the states much more ability to handle the fraudclosure mess. The amounts of money states could generate and control could be used in a states self serving needs.
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Bsfootprint
Posts: 960
Incept: 2011-02-27
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Most likely explanation: NY's applying pressure to get their 'share' of the fines.
Get back to me when they convict *any* human being or suspend/revoke any corporate charters (h/t Genesis)
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When I hear central bankers are blowing bubbles, I like to picture a large, happy and well-endowed male chimp named 'Bubbles'...
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Curbyourrisk
Posts: 3587
Incept: 2008-08-19
Farmingdale, NY
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Normally I don;t see the NY banks taking an action like this. But I think they smell an opportunity to take out a competitor. Normally they would never rock the apple cart.
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Time is up.
I hate to burst your bubble, but there is no Santa Claus, the tooth fairy does not exist and American justice does not involve the courts.
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Etz
Posts: 13888
Incept: 2007-06-26
LA
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I did not run for office to be helping out a bunch of fat cat bankers on Wall Street The City.
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Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora.
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Grumpy_bear
Posts: 606
Incept: 2008-02-26
More SRS please Mistress!
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Irishblues wrote..And where the hell was DOJ on this? Oh, that's right - they don't actually do anything any more... Well now wait a minute! Just try stopping or putting any barriers to letting illegal immigrants exercise their "right as citizens" to vote and see the MIGHTY and UNSTOPPABLE POWER of the ERIC HOLDER JUSTICE DEPARTMENT COME DOWN on your SORRY LAWBREAKING ASS!
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Denninger, Karl. Leverage: how cheap money will destroy the world. Hoboken: John Wiley & Sons, Inc., 2012. p. 126, par. 3.
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Houstonstan
Posts: 961
Incept: 2007-09-20
TX
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I'm a bit sceptical above the the State's motives. Wanting their cut? Banking lobby? AIPAC?
Afterall, this is yet another political office and a stepping stone for a higher oriface.
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Hobbies: Masturbation and smoking. I'm a 40 day'er and I smoke a lot.
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Steelhead23
Posts: 2037
Incept: 2008-09-09
Portland OR
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It just keeps getting better. Here's Yves opening line on the reaction to the order from the City: Quote:I hope Benjamin Lawsky, the New York Superintendent of Financial Services, has balls of steel. He will need them. Read more at http://www.nakedcapitalism.com/2012/08/n....Before this is all over, I suspect Lawsky will either back off (accept an offer 'he can't refuse'), or face a brutal smear campaign, or worse. Pop some popcorn, this is going to be good (I hope).
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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
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Genesis
Posts: 130674
Incept: 2007-06-26
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I commented this morning to someone that I hope he can keep his dick in his pants and he doesn't like hottubs.
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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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Agau
Posts: 4919
Incept: 2010-06-04
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Now you people just better wait a minute there! What is this contempt for our system of justice! Our legal system has been very diligent in arresting those malicious parasites of society who would presume to be able to hold religious services in their homes. http://www.thenewamerican.com/usnews/cri....Dont get me wrong - the angst here would be understandable were Corzine not in jail. |
Agau
Posts: 4919
Incept: 2010-06-04
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"and a stepping stone for a higher oriface."
(sic)
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Ktrosper
Posts: 1498
Incept: 2010-04-06
ft collins co
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Swrichmond +1 Bsfootprint wrote..Most likely explanation: NY's applying pressure to get their 'share' of the fines. Exactly, it's their way of asking, "where's our cut bitches! We've got a budget hole to fill!"
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The unexamined life is not worth living.-Socrates
The only stable state is the one in which all men are equal before the law.-Aristotle
Liberty exists now in the spaces government has not yet chosen to occupy.-Doc Zero
I anticipate that 10 Dallas Cowboys Cheerleaders will blow me this evening.-K.D
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Mannfm11
Posts: 3533
Incept: 2009-02-28
DFW, Tx
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What we have is an organized crime unit operating under the names Treasury and Federal Reserve. Ron Paul is correct. We should audit the Fed. We should also audit everyone that holds a position of power in the Fed, including Turbo, who sat there jacking off looking at porn or something, while the banks under his regulation were robbing the world blind and blew up trying, that is after their employees looted hundreds of billions out of the system.
There are amazing things I have read that have gone on in this organization. What about the Bear Stearns put incident, where several million dollars was put into these options at under $30 with a short time fuse, when the stock was over $60, netting the buyer well over $100 million. No one risks that amount of money unless they have inside info. Putting the money on a race horse, whose number was drawn out of the hat is a better bet and clearly almost no one else knew what and when this was coming down. The result? The Fed can't seem to find $100 million plus moving through the banking system? Then we have the ex-GS officer at the Fed that padded his account, buying the stock, knowing Turbo rigged the deal for Goldman. This is banana boat republic action and if 10% of the penalties applied to the rest of us were applied to this guy, he should have died in prison, his body thrown where the rats, roaches, worms and ants could strip his bones, bones ground up and he buried down the toilet with all the other ****. A man that would do this has been stealing his entire life.
You can't compare Bush to Obama. On the surface, all this stuff could have at least looked legitimate prior to 2008. After even minute details came out, it was and is clear to the world there was criminal activity throughout the system. The criminals were running the Fed for the criminals running the banks. Look up the details. The key players in Obama's administration are from Chicago or NYC, cronies of the criminals. I did a little digging last night. Seems Ivy League has been a recent phenomenon for running the high levels of government, the cronies of those running Wall Street and the lobbys in DC. Clinton pardoned Marc Rich, who was guilty of much the same thing Standard is accused of doing, laundering Iranian assets. I wouldn't be surprised if he wasn't involved in this as well. Rich owed the US $400 million. Of course, today he wouldn't be guilty of anything.
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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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Bertdilbert
Posts: 2654
Incept: 2008-12-22
CA
Online
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Tim Geithner was overheard to have said...
Who in the F*uck does NY think the are to step in ahead of the Fed and Treasury...
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Dear Euroland: Relax, Germany has a plan for your money!
Political Capital Defined: We are out of money but will tax our citizens for whatever it takes to "SAVE" the Euro.
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