PDA

View Full Version : The Obama DOJ is doing NOTHING to prosecute Wall Street



Cigar
12-19-2013, 08:53 AM
But does this count? :huh:


U.S. preparing civil charges against Citigroup, Merrill Lynch: sources

(Reuters) - The Justice Department is preparing to file civil fraud charges against Citigroup Inc and Bank of America's Merrill Lynch unit over their sale of flawed mortgage securities ahead of the financial crisis, according to people familiar with the probes.

Civil investigators have compiled evidence that allegedly shows that investors lost tens of billions of dollars after purchasing securities Citigroup had marketed as safe even though the bank had reason to believe otherwise, one person said.

http://www.reuters.com/article/2013/12/17/us-usa-doj-banks-idUSBRE9BG1DG20131217


What about this? :grin:

Justice Department opens investigation into JP Morgan Chase manipulation of energy markets

(Reuters) - JPMorgan Chase & Co is being investigated by the U.S. Department of Justice for possible manipulation of energy markets following the company's settlement of civil allegations last month with a separate federal energy agency, the Wall Street Journal reported on Monday, citing people familiar with the case.

http://www.huffingtonpost.com/2013/08/19/jpmorgan-chase-energy_n_3781836.html


And this.... :smiley:


JP Morgan Chase (the nation's largest bank) is being investigated by the DOJ over mortgages

JPMorgan Chase said Wednesday it's under federal criminal investigation over its sale of mortgage securities, potentially making the biggest U.S. bank by assets the first large financial institution to face criminal sanctions over securitization practices that contributed to the 2008 financial crisis.

http://www.huffingtonpost.com/2013/08/07/jpmorgan-doj-investigation_n_3721741.html


Oh...this too.... :laugh:

Bank Of America Goes To Trial Over Mortgage Fraud Charges

NEW YORK (Reuters) - Bank of America Corp heads to trial this week over allegations its Countrywide unit approved deficient home loans in a process called "Hustle," defrauding Fannie Mae and Freddie Mac, the U.S. government enterprises that underwrite mortgages.

http://www.huffingtonpost.com/2013/09/24/bank-of-america-mortgage-fraud-charges_n_3981355.html?utm_hp_ref=business


Sugar on top (from Treasury Dept): :wink:

JPMorgan blocked probe in Madoff case: government official

The U.S. Treasury Department's Office of the Inspector General was examining whether JPMorgan interfered with the Office of the Comptroller of the Currency's attempts to probe the bank's relationship with Madoff, Rich Delmar, counsel to the inspector general, said in an email to Reuters.

http://www.reuters.com/article/2013/12/16/us-jpm-treasury-probe-idUSBRE9BF1F220131216


For good measure.... :laugh:


Bank of America loses Justice Department civil fraud suit

NEW YORK -- Bank of America has lost a major civil fraud case brought by the Justice Department, a major victory for the federal government as it continues to pursue cases stemming from the financial crisis.

http://articles.latimes.com/2013/oct/23/business/la-fi-mo--bank-of-america-loses-justice-department-civil-fraud-suit-20131023


Noooo you mean more.... :shocked:

Wells Fargo fails to end U.S. mortgage fraud lawsuit

(Reuters) - A federal judge has rejected Wells Fargo & Co's bid to dismiss a U.S. government lawsuit accusing the nation's largest mortgage lender of fraud, a victory for federal investigators pursuing cases tied to the recent housing and financial crises.

http://www.reuters.com/article/2013/09/24/us-wellsfargo-lawsuit-mortgage-fraud-idUSBRE98N0WT20130924



Ok ... maybe The Obama Administration is doing a little ... :wink: go gittem Barry

Alyosha
12-19-2013, 08:58 AM
It took how many years and how much pressure?

When we see CEO's in jail instead of government revenue collection then let's talk.

Cigar
12-19-2013, 09:14 AM
It took how many years and how much pressure?

When we see CEO's in jail instead of government revenue collection then let's talk.

Can't happen fast enough for me. :wink:

donttread
12-20-2013, 07:34 AM
Of course not, Obama got more money from Wall Street than McCain did , a lot more, in 2008 and then continued the corporate welfare bailouts. One party, not two



But does this count? :huh:


U.S. preparing civil charges against Citigroup, Merrill Lynch: sources

(Reuters) - The Justice Department is preparing to file civil fraud charges against Citigroup Inc and Bank of America's Merrill Lynch unit over their sale of flawed mortgage securities ahead of the financial crisis, according to people familiar with the probes.

Civil investigators have compiled evidence that allegedly shows that investors lost tens of billions of dollars after purchasing securities Citigroup had marketed as safe even though the bank had reason to believe otherwise, one person said.

http://www.reuters.com/article/2013/12/17/us-usa-doj-banks-idUSBRE9BG1DG20131217


What about this? :grin:

Justice Department opens investigation into JP Morgan Chase manipulation of energy markets

(Reuters) - JPMorgan Chase & Co is being investigated by the U.S. Department of Justice for possible manipulation of energy markets following the company's settlement of civil allegations last month with a separate federal energy agency, the Wall Street Journal reported on Monday, citing people familiar with the case.

http://www.huffingtonpost.com/2013/08/19/jpmorgan-chase-energy_n_3781836.html


And this.... :smiley:


JP Morgan Chase (the nation's largest bank) is being investigated by the DOJ over mortgages

JPMorgan Chase said Wednesday it's under federal criminal investigation over its sale of mortgage securities, potentially making the biggest U.S. bank by assets the first large financial institution to face criminal sanctions over securitization practices that contributed to the 2008 financial crisis.

http://www.huffingtonpost.com/2013/08/07/jpmorgan-doj-investigation_n_3721741.html


Oh...this too.... :laugh:

Bank Of America Goes To Trial Over Mortgage Fraud Charges

NEW YORK (Reuters) - Bank of America Corp heads to trial this week over allegations its Countrywide unit approved deficient home loans in a process called "Hustle," defrauding Fannie Mae and Freddie Mac, the U.S. government enterprises that underwrite mortgages.

http://www.huffingtonpost.com/2013/09/24/bank-of-america-mortgage-fraud-charges_n_3981355.html?utm_hp_ref=business


Sugar on top (from Treasury Dept): :wink:

JPMorgan blocked probe in Madoff case: government official

The U.S. Treasury Department's Office of the Inspector General was examining whether JPMorgan interfered with the Office of the Comptroller of the Currency's attempts to probe the bank's relationship with Madoff, Rich Delmar, counsel to the inspector general, said in an email to Reuters.

http://www.reuters.com/article/2013/12/16/us-jpm-treasury-probe-idUSBRE9BF1F220131216


For good measure.... :laugh:


Bank of America loses Justice Department civil fraud suit

NEW YORK -- Bank of America has lost a major civil fraud case brought by the Justice Department, a major victory for the federal government as it continues to pursue cases stemming from the financial crisis.

http://articles.latimes.com/2013/oct/23/business/la-fi-mo--bank-of-america-loses-justice-department-civil-fraud-suit-20131023


Noooo you mean more.... :shocked:

Wells Fargo fails to end U.S. mortgage fraud lawsuit

(Reuters) - A federal judge has rejected Wells Fargo & Co's bid to dismiss a U.S. government lawsuit accusing the nation's largest mortgage lender of fraud, a victory for federal investigators pursuing cases tied to the recent housing and financial crises.

http://www.reuters.com/article/2013/09/24/us-wellsfargo-lawsuit-mortgage-fraud-idUSBRE98N0WT20130924



Ok ... maybe The Obama Administration is doing a little ... :wink: go gittem Barry

Cigar
12-20-2013, 08:52 AM
Name the Politician who is not getting money from Wall Street. :grin:

Who am I kidding ... I'm getting money from Wall Street. :laugh:

Mainecoons
12-20-2013, 09:39 AM
Bankster/wall street fraudster prosecutions plummeted under Bush and this continued with Obama.

Liberal deniers, note the primary source, PBS:

http://www.theguardian.com/commentisfree/2013/jan/23/untouchables-wall-street-prosecutions-obama


PBS' Frontline program on Tuesday night broadcast a new one-hour report (http://www.pbs.org/wgbh/pages/frontline/untouchables/) on one of the greatest and most shameful failings of the Obama administration: the lack of even a single arrest or prosecution of any senior Wall Street banker for the systemic fraud that precipitated the 2008 financial crisis: a crisis from which millions of people around the world are still suffering. What this program particularly demonstrated was that the Obama justice department, in particular the Chief of its Criminal Division, Lanny Breuer, never even tried to hold the high-level criminals accountable.What Obama justice officials did instead is exactly what they did in the face of high-level Bush era crimes of torture and warrantless eavesdropping: namely, acted to protect the most powerful factions in the society in the face of overwhelming evidence of serious criminality. Indeed, financial elites were not only vested with immunity for their fraud, but thrived as a result of it (http://www.guardian.co.uk/business/2009/oct/15/goldman-sachs-record-bonus-pot), even as ordinary Americans continue to suffer the effects of that crisis (http://thinkprogress.org/economy/2012/12/03/1270541/corporate-profits-wages-record/).
Worst of all, Obama justice officials both shielded and feted these Wall Street oligarchs (who, just by the way, overwhelmingly supported Obama's 2008 presidential campaign (http://uk.reuters.com/article/2008/06/05/analysis-shares-obama-idUKNOA53525520080605)) as they simultaneously prosecuted and imprisoned powerless Americans for far more trivial transgressions.

And:

http://finance.yahoo.com/news/judge-criticizes-lack-prosecution-against-001001592.html


NEW YORK, Nov 12 (Reuters) - The federal judge who oversawthe recent civil fraud trial against Bank of America Corp criticized the U.S. Department of Justice on Tuesday forfailing to prosecute high-level executives over the financialcrisis.U.S. District Judge Jed Rakoff of Manhattan said whilecompanies have been prosecuted for causing the 2007-2009financial meltdown, Wall Street executives have escaped justice.
"The failure of the government to bring to justice thoseresponsible for such a massive fraud speaks greatly toweaknesses in our prosecutorial system that need to beaddressed," Rakoff said.
Rakoff, who was appointed by President Bill Clinton in 1996,blamed the lack of criminal cases on a shortage of investigatoryresources coupled with an over-emphasis on bringing casesagainst companies rather than individuals.

Note: Clinton appointee.