A. banks immune from prosecution.

The gang of "3"

America's criminal banks immune from prosecution.

Rob an American bank and you go to prison for years.

American banks robs you, $1 billion USD and they are

subject to a civil suit, no criminal charges.

But lets look at :

Goldman Sachs;Wall Street's most powerful bank.

Goldman called the lawsuit "completely unfounded," adding, 

"We did not structure a portfolio that was designed to lose money.".

Goldman Chief Executive Lloyd Blankfein ftold the federal Financial Crisis 

Inquiry Commission in January that the bank packaged complex debt, 

while also betting against the debt.

"We are not a fiduciary," he said.
A fiduciary duty is a legal or ethical relationship of confidence or trust between two or more parties,

The case also involves John Paulson, a hedge fund investor whose firm Paulson & Co made billions of dollars by betting the nation's housing market would crash. This included an estimated $1 billion from the transaction detailed in the lawsuit, which the SEC said cost other investors more than $1 billion. Paulson was not charged.

 suggest Goldman teamed with "the leading short-seller in the industry to design a portfolio of securities that would crash," said John Coffee, a securities law professor at Columbia Law School in New York.

Goldman is enormously wealthy ...

"I don't trust Goldie on this," Levin quoted one of Killinger's e-mails as saying. "They are smart, but this is swimming with the sharks. They were shorting mortgages big-time while they were giving (Countrywide Financial Corp) advice."

The SEC lawsuit announced on Friday concerns ABACUS, a synthetic collateralized debt obligation that hinged on the performance of subprime residential mortgage-backed securities, and which the regulator said Goldman structured and marketed.

According to the SEC, Goldman did not tell investors "vital information" about ABACUS, including that Paulson & Co was involved in choosing which securities would be part of the portfolio.

The SEC also alleged that Paulson took a short position against the CDO in a bet that its value would fall.

By betting against subprime mortgage-related debt, ( which they were selling G ) Pellegrini helped Paulson's firm earn an estimated $15 billion in 2007.

The lawsuit is a regulatory and public relations nightmare for Blankfein, who has spent 18 months fending off complaints that Goldman has been an unfair beneficiary of taxpayer bailouts of Wall Street.

SOURCE:

The American crime banks also flout usury laws charging 30% on Credit cards and 460%

on payday loans.

And not one bank has been charged in the toxic sub-prime paper fraud, grading "D" rated

paper as "AAA".

Banks continue to own congress.

Gerald

Series 3  and 7

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