The Untouchables... FRONTLINE investigates why Wall Street’s leaders have escaped prosecution for any fraud related to the sale of bad mortgages. - 12160 Social Network2024-03-28T18:22:35Zhttps://12160.info/forum/topics/the-untouchables-frontline-investigates-why-wall-street-s-leaders?commentId=2649739%3AComment%3A1100824&feed=yes&xn_auth=noAt least, it was likely meant…tag:12160.info,2013-02-17:2649739:Comment:11247822013-02-17T02:03:55.171ZCharles Royer Sr.https://12160.info/profile/CharlesRoyerSr
<p>At least, it was likely meant to be a sinecure. In 2006, Lew went to work at Citigroup, which was flying high in the middle part of the last decade. He was a top executive at the bank, rising to head up the bank's "alternative investments" portfolio, which was heavily leveraged in things like mortgage-backed securities. …<br></br></p>
<p>At least, it was likely meant to be a sinecure. In 2006, Lew went to work at Citigroup, which was flying high in the middle part of the last decade. He was a top executive at the bank, rising to head up the bank's "alternative investments" portfolio, which was heavily leveraged in things like mortgage-backed securities. <br/> <a href="http://www.breitbart.com/Big-Government/2013/02/14/Jack-Lew-Historys-Most-Ironic-Cabinet-Nominee" target="_blank">http://www.breitbart.com/Big-Government/2013/02/14/Jack-Lew-Historys-Most-Ironic-Cabinet-Nominee</a></p> Report: Asst. Atty. General…tag:12160.info,2013-01-24:2649739:Comment:11023272013-01-24T17:13:24.691Ztruthhttps://12160.info/profile/adap2k
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<div class="entry"><h3><a href="http://consumerist.com/2013/01/23/report-asst-atty-general-who-shied-away-from-wall-street-prosecutions-to-step-down/">Report: Asst. Atty. General Who Shied Away From Wall Street Prosecutions To Step Down</a></h3>
<div class="lastUpdated"><h3>Thursday, January 24, 2013 12:09 PM</h3>
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<div class="feedEntryContent"><p>Less than 24 hours after his appearance on PBS’ Frontline, where he struggled to explain why his office had…</p>
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<div class="entry"><h3><a href="http://consumerist.com/2013/01/23/report-asst-atty-general-who-shied-away-from-wall-street-prosecutions-to-step-down/">Report: Asst. Atty. General Who Shied Away From Wall Street Prosecutions To Step Down</a></h3>
<div class="lastUpdated"><h3>Thursday, January 24, 2013 12:09 PM</h3>
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<div class="feedEntryContent"><p>Less than 24 hours after his appearance on PBS’ Frontline, where he struggled to explain why his office had brought not one single indictment against a high-level Wall Street executive related to the 2008 financial crisis, Assistant Attorney General Lanny Breuer has reportedly decided to step down.</p>
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</div> Following is the email I sen…tag:12160.info,2013-01-23:2649739:Comment:11013562013-01-23T21:14:54.704ZAlan Wakefieldhttps://12160.info/profile/AlanWakefield
<p> <font face="Arial, sans-serif">Following is the email I sent to Peter Schiff following his appearance as a guest on the Glenn Beck Show in which he made remarks placing blame for the toxic assets/real estate meltdown on the American consumer.</font></p>
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<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">November 6, 2009</font></p>
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<p style="margin-bottom: 0in;"><font face="Arial, sans-serif"><b>Euro Pacific…</b></font></p>
<p> <font face="Arial, sans-serif">Following is the email I sent to Peter Schiff following his appearance as a guest on the Glenn Beck Show in which he made remarks placing blame for the toxic assets/real estate meltdown on the American consumer.</font></p>
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<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">November 6, 2009</font></p>
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<p style="margin-bottom: 0in;"><font face="Arial, sans-serif"><b>Euro Pacific Capital, Inc.</b></font><font face="Arial, sans-serif"><br/>88 Post Road West, 3rd Floor<br/>Westport, CT 06880<br/>203-662-9700<br/>800-727-7922<br/>Fax: 203-662-9771</font></p>
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<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">Dear Mr. Schiff,</font></p>
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<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">On the Glenn Beck Show this PM, while you were speaking with Judge Napolitano, you said "the consumer may have led us into the (present) recession.” I was stunned by your remark.</font></p>
<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">Did the Acorn Group, led by "community activist" Obama, have nothing to do with causing the financial meltdown by intimidating bankers into loans to unworthy creditors? Did threats by the “Acorn gang” to sue bankers for refusing to loan to "sub-prime borrowers" have nothing to do with the meltdown? Did the fraudulent inflating of one hundred billion dollars worth of actual property into a trillion dollars worth of "toxic assets" have nothing to do with the meltdown? Did the fact that each time these bundled mortgages were traded back and forth among the "fractional reserve" mortgage dealers, and each time they were traded they were artificially inflated in value to cover the "bonuses" the traders were paying themselves for playing "fractional reserve mortgage trading,” did that have nothing to do with the financial meltdown?</font></p>
<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">And when they had been artificially inflated to more than a trillion dollars, who had the bright idea to present them as collateral for loans from foreign investors when at that time they truly were "TOXIC ASSETS?"</font></p>
<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">When the foreign holders of those toxic assets realized they had been scammed and began demanding their money back, is that when Congress went into "secret session" (the 4th or 5th such secret meeting in history) in March 2008 to determine how they would keep this from the public and force the taxpayer to make good on that "toxic collateral" in order to protect their criminal "friends" in the mortgage markets?</font></p>
<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">The original $100 billion (more or less) in sub-prime real estate is still there. If it had not been for the criminal inflation caused by "fractional reserve mortgage trading," and had it not been for the fact that those "fractional reserve mortgage dealers" had decided to scam the foreign investors and had it not been for the fact that the foreign investors got wise to the scam and DEMANDED their money back, the meltdown would not have taken place when it did.</font></p>
<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">Sooner or later the chickens of the “fractional reserve mortgage trading” scam would have come home to roost and there would indeed have been a massive meltdown.</font></p>
<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">Most, if not all the money of the first “stimulus package,” nearly one trillion dollars, went to places the recipients of the bailout will not disclose. Where did it go? There is no doubt in my mind the money went to repay those foreign investors to cover the “toxic asset scam.”</font></p>
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<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">Most of what I wrote above is conjecture based on the fact I had read somewhere the actual asset value of the underlying mortgages is between ninety and 125 billion dollars. I also knew the “fractional mortgage trading” gang was “bundling” mortgages. This “bundling” would frustrate attempts to determine the actual value of the “bundle,” that is, require a property assessment by a licensed, trained property assessor. And what would happen if the bundles were “shuffled?” Bundling made any attempt to properly assess the collateral real estate virtually impossible. You just had to take the seller’s word that the value was there. The seller, for the same reasons, had no clue as to what he was actually selling. And since the bundle was to be “re-bundled” and sold again, and since everyone involved was raking in multimillion-dollar bonuses, there was a disincentive to actually look at the “collateral.” You can understand, given the incentives involved, any “looking” by “trading partners” would be considered “bad form.”</font></p>
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<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">How can you possibly entertain the idea the consumers were somehow “responsible” for the rape of America by the financial institutions? The only responsibility that may be assigned them is the stupidity/complicity of allowing the flim-flammers in Congress and the Federal Reserve to convince them that someone in Congress or the Fed is actually looking out for the interests of the “Dear Taxpayer.”</font></p>
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<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">Sincerely,</font></p>
<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">Alan Wakefield</font></p>
<p style="margin-bottom: 0in;"><font face="Arial, sans-serif">McKeesport, PA</font></p> Thanks Steven, I'll check it…tag:12160.info,2013-01-23:2649739:Comment:11012562013-01-23T19:14:29.446ZTarahttps://12160.info/profile/Tara
<p>Thanks Steven, I'll check it out!</p>
<p>Thanks Steven, I'll check it out!</p> 10 Highlights From Frontline…tag:12160.info,2013-01-23:2649739:Comment:11012052013-01-23T18:28:28.869Ztruthhttps://12160.info/profile/adap2k
<h2 class="title"><a href="http://consumerist.com/2013/01/23/10-highlights-from-frontline-report-on-why-no-wall-street-execs-have-gone-to-jail-over-financial-crisis/" rel="nofollow" target="_blank" title="10 Highlights From Frontline Report On Why No Wall Street Execs Are In Jail Over Mortgage Mess">10 Highlights From Frontline Report On Why No Wall Street Execs Are In Jail Over Mortgage Mess</a></h2>
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<h2 class="title"><a target="_blank" href="http://consumerist.com/2013/01/23/10-highlights-from-frontline-report-on-why-no-wall-street-execs-have-gone-to-jail-over-financial-crisis/" title="10 Highlights From Frontline Report On Why No Wall Street Execs Are In Jail Over Mortgage Mess" rel="nofollow">10 Highlights From Frontline Report On Why No Wall Street Execs Are In Jail Over Mortgage Mess</a></h2>
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<div class="content"><p>Last night, PBS’ Frontline looked at a question many Americans have asked — Why have no top Wall Street executives been prosecuted for their part in the 2008 financial crisis? — and took it right to man at the Justice Dept. who isn’t bringing those charges.</p>
<p>You can watch the entire show — broken up into four segments — below, and there are a ton of supporting materials and content available on the Frontline website. But for those who just want to get a run-down of the episode, here are some highlights:</p>
</div> Yes the construct has become…tag:12160.info,2013-01-23:2649739:Comment:11010002013-01-23T16:16:54.882ZSteven Burnandhttps://12160.info/profile/StevenBurnand
<p>Yes the construct has become the reality and to many the Matrix is as real as it gets. The question is how do those awake, awaken those that are asleep and do those asleep want to be woken up, to a reality, that in most cases, if not all; all of their dreams have been based on constructs that in turn were formulated on lies. There ought to be a set of Georgia Guide Stones informing the world to get rid of this sick few and not stones advising us to get rid of their exact opposite. Its a few…</p>
<p>Yes the construct has become the reality and to many the Matrix is as real as it gets. The question is how do those awake, awaken those that are asleep and do those asleep want to be woken up, to a reality, that in most cases, if not all; all of their dreams have been based on constructs that in turn were formulated on lies. There ought to be a set of Georgia Guide Stones informing the world to get rid of this sick few and not stones advising us to get rid of their exact opposite. Its a few spoiling everything for the masses.</p>
<p></p> I agree Nathan 'they' hold no…tag:12160.info,2013-01-23:2649739:Comment:11012202013-01-23T16:07:36.904ZSteven Burnandhttps://12160.info/profile/StevenBurnand
<p>I agree Nathan 'they' hold none of the patriotic views and beliefs that we have been fed from an early age and they work with no boundaries and this why both the USA and the UK now have little to no industry left in place and we do so little on the production side, other than just move facts and figures around on paper. Both the USA and UK were once VERY productive countries that produced goods for the world and now the corporations have moved best part of the industry away, in order to find…</p>
<p>I agree Nathan 'they' hold none of the patriotic views and beliefs that we have been fed from an early age and they work with no boundaries and this why both the USA and the UK now have little to no industry left in place and we do so little on the production side, other than just move facts and figures around on paper. Both the USA and UK were once VERY productive countries that produced goods for the world and now the corporations have moved best part of the industry away, in order to find slave labor that will in turn make them even more profits, that will be spent on what? What is even more of an insult is that these large corporations pay little or no taxes back to we the people. They are parasites in the truest form and we the people have become the unconscious hosts and these parasites are killing us slowly, along with the our planet.</p> Thanks James for the link....…tag:12160.info,2013-01-23:2649739:Comment:11009822013-01-23T14:39:43.451Zraymond _______https://12160.info/profile/raymondquinlan
<p>Thanks James for the link.........</p>
<p>That was a joke.funny,like Tom and Jerry.</p>
<p>PBS managing the situation on their level.We have a frontline in Ireland that does the very same thing.</p>
<p>Frontline always manages the fraud in every case,and the public see it and then they think,something is going to be done.Eventually it all just fades away.Proving they are just there to manage things on that level,but it never amounts to anything only more fraud.</p>
<p>Thanks James for the link.........</p>
<p>That was a joke.funny,like Tom and Jerry.</p>
<p>PBS managing the situation on their level.We have a frontline in Ireland that does the very same thing.</p>
<p>Frontline always manages the fraud in every case,and the public see it and then they think,something is going to be done.Eventually it all just fades away.Proving they are just there to manage things on that level,but it never amounts to anything only more fraud.</p> Hi Tara check out this video…tag:12160.info,2013-01-23:2649739:Comment:11011312013-01-23T12:19:40.854ZSteven Burnandhttps://12160.info/profile/StevenBurnand
<p>Hi Tara check out this video released by the BBC several years back that went out on prime time television (9pm) and not a peep was mentioned about its content on the following day!</p>
<p>No wonder the saying goes 'like' a thief in the night. These thieves do not need to be hidden by darkness, as most of the populate are in a kind of waking dream state.</p>
<p><a href="http://youtu.be/suZb9Z0b05I" target="_blank">http://youtu.be/suZb9Z0b05I</a></p>
<p>It was Gordon Brown that opened the…</p>
<p>Hi Tara check out this video released by the BBC several years back that went out on prime time television (9pm) and not a peep was mentioned about its content on the following day!</p>
<p>No wonder the saying goes 'like' a thief in the night. These thieves do not need to be hidden by darkness, as most of the populate are in a kind of waking dream state.</p>
<p><a href="http://youtu.be/suZb9Z0b05I" target="_blank">http://youtu.be/suZb9Z0b05I</a></p>
<p>It was Gordon Brown that opened the flood gates, to the sub prime scandal by turning his back on the rules put in place just after the last great recession over in the USA, back in the late 20's. As you know this crowd play out the same games, time and time again with huge gaps in between, so that populate forget and are totally off guard.</p>
<p></p> Hi Quickening the federal res…tag:12160.info,2013-01-23:2649739:Comment:11011282013-01-23T11:46:47.756ZSteven Burnandhttps://12160.info/profile/StevenBurnand
<p>Hi Quickening the federal reserve as you say is at the root of the problem and most people are beginning to realize this and even those that have done just a modicum of research, can smell a rat in the kitchen, as far as the fed goes.</p>
<p>The money Changes is an old but goody and Ed Griffins videos go into great depth about the fed and how this huge money laundering scam was played out on the American people. Walter Burien <a href="http://cafr1.com/" target="_blank">http://cafr1.com/…</a></p>
<p>Hi Quickening the federal reserve as you say is at the root of the problem and most people are beginning to realize this and even those that have done just a modicum of research, can smell a rat in the kitchen, as far as the fed goes.</p>
<p>The money Changes is an old but goody and Ed Griffins videos go into great depth about the fed and how this huge money laundering scam was played out on the American people. Walter Burien <a href="http://cafr1.com/" target="_blank">http://cafr1.com/</a> has done some great research into how much tax money has been stashed away over the last century. I find it amazing that it has got to the point of 99% of the wealth being owned by 1% of the people and ask 'if money is a conversion of human energy and creativity, what do they need with 99% of stored human potential and what are they doing with this resource?' My conclusion is nothing that beneficial to those that are outside of this self proclaimed elite few.</p>
<p>Is it not strange that when I shake a charity tin down town to collect money for a good cause, people will ask where their dimes and pennies are going, yet few, if any, think about and/or talk about how much tax they are paying out and what/where there tax money is spent? This seems to be a taboo subject?</p>