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“Bank Lives Matter”

RULES DON’T … || By FITSNEWS || While everybody was paying attention to the Confederate flag, the administration of Barack Obama quietly agreed to let nations with abysmal records on human trafficking participate in “Obamatrade.” Missed that?  Of course … pretty much everybody did. Not only that, Obama’s administration apparently decided…

RULES DON’T …

|| By FITSNEWS || While everybody was paying attention to the Confederate flag, the administration of Barack Obama quietly agreed to let nations with abysmal records on human trafficking participate in “Obamatrade.”

Missed that?  Of course … pretty much everybody did.

Not only that, Obama’s administration apparently decided to let two banks recently convicted of federal crimes continue to write mortgage insurance – even though their convictions were supposed to have precluded them from participating in this market.

From The Intercept …

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.”

Ground zero for the scandal is the U.S. Department of Housing and Urban Development (HUD), which was recently busted trying to mandate racial diversity in American neighborhoods.

Breaking HUD’s shameful behavior down to its essence is Michael Krieger over at Liberty Blitzkrieg

When “guilty pleas” threatened to exclude JP Morgan and Citibank from making certain FHA–insured loans, the Department of Housing and Urban Development (HUD) immediately came to the rescue and changed its own documents without telling anyone and without allowing for public commentary.

Indeed.  HUD’s notice in the Federal Register failed to mention the change, “making it impossible to discover without comparing the old form and the proposed form side by side,” according to the Intercept report.

Accordingly mainstream media outlets like The Wall Street Journal failed to spot it.

What a joke …

Three Democratic lawmakers – U.S. Senators Sherrod Brown of Ohio and Elizabeth Warren of Massachusetts and U.S. Rep. Maxine Waters of California – fired off a letter to HUD slamming the change, saying it would allow the agency to “turn a blind eye to criminal violations” and put “homebuyers and taxpayers at additional risk.”

Exactly.

There’s virtually nothing we agree with these three lawmakers about … but they have absolutely hit the nail on the head here.

The law is the law.  JP Morgan and Citibank broke it.  And they should be held accountable.

But that doesn’t happen in crony capitalist America, where government simply sneaks in rule changes for the rich and powerful in the hopes no one will be the wiser.

Accountability?  Yeah right …

***

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16 comments

Top Contributors, Romney 2012 July 17, 2015 at 3:03 pm

Goldman Sachs: $1,045,454
Bank of America: $1,017,652
Morgan Stanley: $920,805
JPMorgan Chase & Co: $835,596
Wells Fargo: $693,576
Citigroup Inc: $491,249

I hope no one pretends Republicans really care about cronyism in the financial sector because they don’t, what little regulation Democrats were even able to pass was hotly contested by Republicans every step of the way. As far as the White House is concerned, the banks had their man no matter who won.

Welcome to the USA, where the choices are made up and the winner doesn’t matter.

Reply
Top contributors, Obama 2012 July 17, 2015 at 3:14 pm

1University of California$1,350,1392Microsoft Corp$815,6453Google Inc$804,2494US Government$736,7225Harvard University$680,918

So what’s worse? Crony internet/software companies that spy on us parasitic government institutions that are allowed to funnel their tax dollars into a candidate that will give them even more tax dollars or the financial sector cronyism?

I say we’re fucked either way.

Reply
Jackie Chiles July 17, 2015 at 3:55 pm

devastating

Reply
Tazmaniac July 17, 2015 at 6:08 pm

That was a slow,easy pitch to hit, but I’m not the one to google those numbers. Obama’s Wall Street cash is just as impressive. Nobody wants to acknowledge that they play on both sides of the aisle unless they smell a sure winner.

Reply
tomstickler July 17, 2015 at 4:18 pm

NOTE: The organizations themselves did not donate, rather the money came from the organizations’ PACs, their individual members or employees or owners, and those individuals’ immediate families. Organization totals include subsidiaries and affiliates.

The same goes for Romney’s funding sources above.

https://nycmoviemaker.files.wordpress.com/2015/05/2012-presidential-race-_-opensecrets.pdf

Reply
Top contributors, Obama 2012 July 17, 2015 at 4:23 pm

Of course, but you’re missing the point.

Reply
tomstickler July 17, 2015 at 4:27 pm

Which is that Romney is the poodle for the banksters, while Obama is supported by the intelligentsia?

Top contributors, Obama 2012 July 17, 2015 at 4:48 pm

“Which is that Romney is the poodle for the banksters, while Obama is supported by the intelligentsia?”

No, it’s that the “intelligentsia” as you put it, living off our tax dollars, is sending many of those dollars to put someone in office that will send them even more….EXACTLY like the banksters. It’s the same model with different patrons “poodling” the President(among others), with a side note on the spying.

Praying Mantis July 17, 2015 at 5:12 pm

You know why IMO Romney lost? He is a businessman. Most who study marketing know you do not go negative on competition. Sure you point out why your product is better, but you don’t cross the lines of courtesy.

Politics? If you don’t go negative — you lose. So, we end up with a bunch of liars who know how to milk the machine.

Reply
Praying Mantis July 17, 2015 at 5:10 pm

Cronyism is not party exclusive. Definitions are loosely defined. My idea of crony capitalism and FITSNews are not the same.

Reply
euwe max July 17, 2015 at 7:17 pm

Kinda makes this the sewers of Calcutta in the big view, doesn’t it?

Who cares what the lepers in the caves are talking about? Caesar wants to know.

Reply
euwe max July 17, 2015 at 7:23 pm

There’s only one way the rich could control more of America through boiler plate legislation passed by corrupt politicians, covered up by privately owned media outlets with disinformation provided for that purpose –

Give the rich a libertarian government on a platter, and sell them our military, all of our public institutions and infrastructure at auction.

Reply
George O July 18, 2015 at 11:24 am

Privately owned media insults you?

Would you rather it be government controlled?

Reply
euwe max July 18, 2015 at 1:17 pm

For the answer to that question, please send 75 dollars to my email address using paypal.

Reply
finally - answers! July 18, 2015 at 10:26 pm

Max, I sent you $150.00 if that’s okay? I may have to read the answer twice if its complex! You’re a real life saver!

Reply
Jessie July 18, 2015 at 11:29 am

The rich can and will grow richer as long as there is rampant drug use in the lower middle class and lower class, a piss poor public education system which fails to prepare students with working skills and a large central government that can divert or steal hundreds of billions of dollars without repercussion.

Oh yea, the Left has set the stage for the rich to keep getting richer.

Reply

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