Internet Anthropologist Think Tank: US Banking Crimes

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    Wednesday, January 20, 2010

    US Banking Crimes

    The American criminal legal system starts with "Reasonable cause to believe" to get warrants and
    ends with "beyond a reasonable doubt" to get convictions with a Jury.

    The American banks have side stepped the 'Criminal' route through deregulation.
    And have been able to swindle the worlds financial institutions with sub-prime toxic
    paper with the collusion of many Federal Agencys and private corporations and
    subverting Congress.

    The Mafia used to be prosecuted for Loan Sharking and the American Banks
    have been able to just side step the issue through Comptroller of the Currency
    and deregulation with Congressional assist, and now USA has 402% legal loan sharks
    and 30% on credit cards, the American people do not support Loan Sharking but American
    Congress has thru deregulation.

    That makes it clear that the American people no longer control Congress,
    but the Lobbyist do through legal bribes to Congress men.

    The Banks get  Federal  Deposit Insurance to protect the deposits in Banks.
    And they used to be regulated by the Glass Segal Act, forcing the Banks
    to use the Deposit money in conserative investments.

    But the USA Banks got Glass Segal repealed, allowing them to engage in
    Investment Banking on Wall Street, which carries much higher risk.

    The American Banks discovered they could make bad loans, and turn tremendous
    profits. But to do so they needed to expand their markets.

    So they packaged these bad loans to people they knew would forfeit.
    And were able to sell them on Wall Street as tripple AAA grade investments,
    by colluding with the Credit rating agencys, like Moody.

    Moody took the bad loans and as part of their credit evaluation procedures
    assumed the Mortgage and Real Estate markets would never have a down turn,
    despite the historical evidence to the contrary.

    And by making the assumption the Real Estate markets would never
    decline lied to the Investors and gave the Toxic sub-prime paper a
    AAA Credit rating, a credit rating that says they are safe, when in fact
    even the Chairman of the Federal Reserve, Allen Greenspan says he
    knew they were in a catastrophic bubble with the toxic sub prime paper.

    And sold them world wide with a fraudulent credit rating.
    Almost causing a world wide credit meltdown.

    And the American regulators still have not imposed regulations
    against a repeat of the Banking disaster.

    As Congress seems impotent in regards to the American
    banks and regulating them maybe the Major Investors in
    the USA can have some impact?

    Could China influence Congress to bring true regulation
    to American Banks?

    The Federal Government gave the Banks 2 Trillion Dollars
    to bail them out of the Toxic paper mess.
    $700 billion in TARP funds and another $1.7 Trillion USD in
    direct loans from the Federal Reserve Coproration.
    Thats 20% of the Gross National Debt.

    The Republicans have stone walled health Insurance
    for all Americans that cost $100 Billion per year,
    but approved $2 trillion bail out for banks without
    even reading the legislation.

    American Banks continue their criminal enterprise
    against the wishes of the American people, through
    Lobbyists and Bribes to Congress.

    Maybe an International Lobby including China and Russia
    and Europe could bring enough pressure on the American
    Congress to force regulation and prosecution of American
    Banking criminal activities.
    To rebalance the worlds Banking system towards non-criminal
    activities, and bring US Banks back under control of the American
    And stop the blatant Banking crimes and loan sharking.


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