See? Money /is/ the new god.
*Natalia*
August 15, 2013
Obama continues to let elite banksters get away with crimes
*Yves Smith, Naked Capitalism -
<http://www.nakedcapitalism.com/2013/08/bill-black-the-fbis-2010-mortgage-fraud-report-reveals-why-the-banksters-love-holder.html>*The
Obama administration's continuation of the Bush administration's refusal
to prosecute the elite banksters (or even the vastly lower status CEOs
of the fraudulent mortgage bank) that drove the crisis has made it clear
that the rule of law no longer applies to wide ranges of life and that
crony capitalism will continue to reign.
*
**One of the difficulties we have is that because the last two
administrations have fanatical devotees of the cult of the Virgin Crisis
-- the myth that the ongoing crisis was the first in modern times
conceived without sin (control fraud) -- that it is exceptionally
difficult to know what their creed is. **
***
DOJ has refused to prosecute any elite banker for mortgage loan
origination fraud. The rare prosecutions it has brought against senior
officials of fraudulent loan originator (a large, but obscure regional
mortgage bank: Taylor Bean) did not prosecute the officials for their
fraudulent origination (or sale) of loans. They Taylor Bean officials
were only prosecuted for their fraud against the TARP program -- and
only because Neil Barofsky made the criminal referral about that fraud
and pushed relentlessly to force the Department of Justice to prosecute.
With zero prosecutions of the massively fraudulent home lenders that
drove the crisis to we are left with no information on why committing
hundreds of thousands of frauds via the twin epidemics of loan
origination fraud (inflating appraisals and making endemically
fraudulent "liar's" loans) is no longer a crime that the FBI
investigates and DOJ prosecutes.
at 8/15/2013
<http://prorevnews.blogspot.ca/2013/08/obama-continues-to-let-elite-bankster.html>
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