Bank Lives Matter, Too Big to Fail has morphed into Too Big to Jail

Sounds about right. Banks found guilty don't have to face the consequences. How nobody goes to jail for these frauds is beyond my understanding (other than full and complete complicit corruption maybe?).


firstlook.org...

Obama Administration Finds New Way to Let Criminal Banks Avoid Consequences


Three top Democrats are accusing the Department of Housing and Urban Development of quietly removing a key clause in its requirements for taxpayer-guaranteed mortgage insurance in order to spare two banks recently convicted of federal crimes from being frozen out of the lucrative market.

HUD’s action is the latest in a series of steps by federal agencies to eliminate real-world consequences for serial financial felons, even as the Obama administration has touted its efforts to hold banks accountable.

In this sense, the guilty plea has become as meaningless to banks as their other ways of resolving criminal charges: out-of-court settlements, or deferred prosecution agreements. “Too Big to Fail” has morphed into “Too Big to Jail” — and then again, into “Bank Lives Matter.”

Sens. Sherrod Brown and Elizabeth Warren and Rep. Maxine Waters fired off a letter to HUD on Tuesday, saying they believe that the timing of the change was designed to clear the way for two banks recently convicted of federal crimes — JPMorgan Chase and Citigroup — to continue to make Federal Housing Administration-insured loans.


The Securities and Exchange Commission then granted waivers from disqualification to JPMorgan Chase, Citi, and the other guilty banks in the case, over the objections of one SEC Commissioner that the big banks had effectively become “Too Big to Bar.”

The HUD changes would similarly take away an automatic penalty for bank misbehavior. Per Brown, Warren and Waters, they “allow HUD to turn a blind eye to criminal violations — putting homebuyers and taxpayers at additional risk.”

Small wonder these people never mix with the dirty masses.
Their feet are too good to walk the same streets as us.

originally posted by: infolurker
Sounds about right. Banks found guilty don't have to face the consequences. How nobody goes to jail for these frauds is beyond my understanding (other than full and complete complicit corruption maybe?).


firstlook.org...

Obama Administration Finds New Way to Let Criminal Banks Avoid Consequences


Three top Democrats are accusing the Department of Housing and Urban Development of quietly removing a key clause in its requirements for taxpayer-guaranteed mortgage insurance in order to spare two banks recently convicted of federal crimes from being frozen out of the lucrative market.

HUD’s action is the latest in a series of steps by federal agencies to eliminate real-world consequences for serial financial felons, even as the Obama administration has touted its efforts to hold banks accountable.

In this sense, the guilty plea has become as meaningless to banks as their other ways of resolving criminal charges: out-of-court settlements, or deferred prosecution agreements. “Too Big to Fail” has morphed into “Too Big to Jail” — and then again, into “Bank Lives Matter.”

Sens. Sherrod Brown and Elizabeth Warren and Rep. Maxine Waters fired off a letter to HUD on Tuesday, saying they believe that the timing of the change was designed to clear the way for two banks recently convicted of federal crimes — JPMorgan Chase and Citigroup — to continue to make Federal Housing Administration-insured loans.


The Securities and Exchange Commission then granted waivers from disqualification to JPMorgan Chase, Citi, and the other guilty banks in the case, over the objections of one SEC Commissioner that the big banks had effectively become “Too Big to Bar.”

The HUD changes would similarly take away an automatic penalty for bank misbehavior. Per Brown, Warren and Waters, they “allow HUD to turn a blind eye to criminal violations — putting homebuyers and taxpayers at additional risk.”

What makes is this sort of thing worse is that banks have the power to create money out of thin air, so if the banks can do it then the govt can do the same. If they did none of us would have to pay tax cos the 'tax' we pay is only the interest the govt pays on money borrowed the banks.

The good thing is that this knowledge is becoming more and more widespread.

Read the free ebook book Banks Lie by Chris Field, only 50 pages and explains everything in an easy to understand way.

banks-lie.com...

Damn, this really ticks me right off! Tax-payer guaranteed mortgage insurance! I have to ask, HAS ANY AMERICAN VOTED TO AGREE TO BACK MORTGAGES IF THE PEOPLE DON"T PAY?

I sure as heII did not! And these criminals just walk away laughing. I am really getting tired of being run over like serfs.

obama and his corrupt administration has pushed banks to give more loans to people that can't afford to pay the mortgage. The same exact thing that caused 2008. I heard an ad on the radio for no doc loans! The banks could care less, they won't get any jail time, and the taxpayers have to pay when someone defaults on their mortgage they can't pay.

What the hell is going on. It is flat in your face stealing from every American taxpayer and no one has to do any jail time, nor even pay for their BS, except us, we have to pay!

Can you say REVOLUTION. It is time for the people to get rid of the federal government and set up a new one as per the Constitution. We should all have standing as we are the ones that suffer harm from an out of control government and banking system.

Damn, I am livid!