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27 million loans—were subprime or otherwise weak and risky loans.

The reason for this was the US government's housing policy, which—in the early 1990s—began to require that government agencies and others regulated or controlled by government reduce their mortgage underwriting standards so borrowers who had not previously had access to mortgage credit would be able to buy homes. The government-sponsored enterprises Fannie Mae and Freddie Mac, the Federal Housing Administration, and banks and savings and loan associations (S&Ls) subject to the Community Reinvestment Act were all required to increase their acquisition of loans to homebuyers at or below the median income in their communities. Often, government policies required Fannie, Freddie, and the others to acquire loans to borrowers at or below 80 percent, and in some cases 60 percent, of median income.

Sometimes it is argued that the Troubled Asset Relief Program (TARP) prevented more failures. That seems highly unlikely. The first funds were made available under TARP on October 28, 2008, about six weeks after the panic following Lehman's failure. By that time, any firm that had been mortally wounded by Lehman's collapse would have collapsed itself. Moreover, most of the TARP funds were quickly repaid by the largest institutions, and many of the smaller ones, only eight months later, in mid-June 2009. This is strong ¬evidence that the funds were not needed to cover losses coming from the Lehman bankruptcy. If there were such losses, they would still have been embedded in the balance sheets of those institutions. If the funds were needed at all—and many of the institutions took them reluctantly and under government pressure—it was to restore investor confidence that the recipients were not so badly affected by the common shock of the decline in housing and mortgage values that they could not fund orderly withdrawals, if necessary. However, even if we assume that TARP funds prevented the failure of some large financial institutions, it seems clear that the underlying cause of each firm's weakness was the decline in the value of its MBS holdings, and not any losses suffered as a result of Lehman's bankruptcy.

This analysis leads to the following conclusion. Without a common shock, the failure of a single Lehman-like firm is highly unlikely to cause a financial crisis. This conclusion is buttressed by the fact that in 1990 the securities firm Drexel Burnham Lambert—then, like Lehman, the fourth largest securities firm in the United States—was allowed to declare bankruptcy without any adverse consequences for the market in general. At the time, other financial institutions were generally healthy, and Drexel was not brought down by the failure of a widely held class of assets. On the other hand, in the presence of a common shock, the orderly resolution of one or a few Lehman-like financial institutions will not prevent a financial crisis precipitated by a severe common shock.

In effect, by giving the government the power to resolve any financial firm it believes to be failing, the act has added a whole new policy objective for the resolution of failing firms. Before Dodd-Frank, insolvency law embodied two basic policies—retain the going concern value of the firm and provide a mechanism by which creditors could realize on the assets of an insolvent firm that cannot be saved.

We saw as we proceeded through life that pursuing one’s self-interest was rewarded just as often than doing what was right, that morals were relative, and that there would be no consequences to bad behavior. It became de rigueur to assume that our parents (and their lawyers) would save us from our bad behavior.

no consequences to irresponsible behavior.

it is hard to avoid the reality that my generation, the baby boomers who are now approaching retirement, have caused the greatest collapse of the world economy since the 1930s, and in the process damaged this country in ways we are now only beginning to understand.

Goldman is only the largest corporate contributor to the Obama administration

Looking back more eighteen months after the first signs of distress in our economy appeared, it seems that leaders in Congress and Wall Street have erred in a manner never before witnessed in this nation.  In the process, they have conspired through their collective arrogance, greed, and ignorance to damage the economy of the country (if not the world), make many themselves rich beyond the imaginations of most Americans, and in the process commit the greatest financial rape of the American public in the history of the country.  And if that does resonate, then either you have not been paying attention for the past two years, or you have received your paycheck form Goldman Sachs.

Capitalism remains the best economic system on the planet, but when those who have profited handsomely seek to socialize losses caused by their errors, then those in power in Washington have a moral responsibility to demand an accounting.  Our anger comes from the fact that our leaders have failed in their public obligations at the expense of the interests on Wall Street, and in the process created the greatest social divide that this country has seen in the past 40 years.

our nation has one of the highest ratios of debt to GDP on the globe

Finally, the administration should demand (I know it won’t) that Goldman Sachs return the approximately $13 billion it received in backdoor payments through AIG when AIG received $180 billion in bailout money. That $13 billion belongs to the taxpayers of this country, and the decision to allow Goldman to receive that money perhaps stands as the greatest moral outrage of this entire sordid affair.  

he nation will not die; to the contrary, it would become stronger if we permit free markets to work, and allow the next-generation to live unburdened by our mistakes and arrogance.

The proposal in question was Ryan's "Roadmap for America's Future," a sweeping plan to stave off the nation's looming economic and fiscal collapse by changing the tax code, overhauling the health care system, and reforming the nation's major entitlement programs. Its debt-reducing claims aren't based on mere fantasy -- the Congressional Budget Office has determined that the plan would boost economic growth while making Medicare and Social Security solvent. And it accomplishes these aims without raising taxes or affecting the benefits of current retirees.

There's no doubt where the Treasury will turn for finance. We are about to see the greatest stuffing of banks with government securities the world has ever seen. American banks will be forced to gorge on Treasury securities, and disgorge bank reserves. Where else can the government get the next trillion to spend on things like wars, unemployment benefits, and food stamps?There are a few obvious things to think about here. At the rate of $120 billion a month, it will only take about nine months to blow through over a trillion dollars in free bank reserves. Each Treasury auction will find it more difficult to sell all of the treasury securities, and it will take rising interest rates to coax out even more reserves from the banks. (When you need to borrow over $4 billion a day, even a trillion dollars doesn't last long.)

The U.S. is also following the age-old recipe for imperial decline by: Creating unsustainable levels of inequality Destroying upward mobility (and see this) Incurring staggering levels of debt to finance war and luxury goods Debasing its currency Military overspending Runaway corruption Apathy and greed And the decline of the America empire is speeding up due the U.S. falling into the Thucydides trap.

The U.S. is also following the age-old recipe for imperial decline by: Creating unsustainable levels of inequality Destroying upward mobility (and see this) Incurring staggering levels of debt to finance war and luxury goods Debasing its currency Military overspending Runaway corruption Apathy and greed And the decline of the America empire is speeding up due the U.S. falling into the Thucydides trap.

For the banks, of course, Glencore may not be their only exposure in the commodity trading space. We consider that other vehicles such as Trafigura, Vitol and Gunvor may feature on bank balance sheets as well ($100 bn x 4?)

On September 11, Spruce Alpha, a small hedge fund which is part of a bigger investment group, sent a short report to investors. The letter said that the $80 million fund had lost 48% in a month, according the performance report seen by Business Insider. There was no commentary included in the note. No explanation. Just cold hard numbers.

I certainly agree with that last sentence.  Bernanke was the one telling us that there was not going to be a recession back in 2008 even after one had already started.  He was clueless back then and he is clueless today. Most of our “leaders” either don’t understand what is happening or they are not willing to tell us. So that means that we have to try to figure things out for ourselves the best that we can.  And right now there are signs all around us that another 2008-style crisis has begun. Personally, I am hoping that there will be a lot more days like today when the markets were relatively quiet and not much major news happened around the world. Unfortunately for all of us, these days of relative peace and tranquility are about to come to a very abrupt end.

Part VII focusses on the history and central role of Al Qaeda as a US intelligence asset. Since the Soviet-Afghan war, US intelligence has supported the formation of various jihadist organizations. An understanding of this history is crucial in refuting the official 9/11 narrative which claims that Al Qaeda, was behind the attacks. Part VIII centers on the life and death of 9/11 “Terror Mastermind” Osama bin Laden, who was recruited by the CIA in the heyday of the Soviet Afghan war. This section also includes an analysis of the mysterious death of Osama bin Laden, allegedly executed by US Navy Seals in a suburb of Islamabad in May 2011. Part  IX  focusses on “False Flags” and the Pentagon’s “Second 9/11″. Part X examines the issue of “Deep Events” with contributions by renowned scholars Peter Dale Scott and Daniele Ganser. Part XI  examines the structure of 9/11 propaganda which consists in “creating” as well “perpetuating” a  “9/11 Legend”. How is this achieved? Incessantly, on a daily basis, Al Qaeda, the alleged 9/11 Mastermind is referred to by the Western media, government officials, members of the US Congress, Wall Street analysts, etc. as an underlying cause of numerous World events. Part XII focusses on the practice of 9/11 Justice directed against the alleged culprits of the 9/11 attacks. The legitimacy of 9/11 propaganda requires fabricating “convincing evidence” and “proof” that those who are accused actually carried out the attacks. Sentencing of Muslims detained in Guantanamo is part of war propaganda. It depicts innocent men who are accused of the 9/11 attacks, based on confessions acquired through systematic torture throughout their detention. Part  XIII focusses on 9/11 Truth.  The objective of 9/11 Truth is to ultimately dismantle the propaganda apparatus which is manipulating the human mindset. The 9/11 Reader concludes with a retrospective view of 9/11 ten years later.

PART  I Timeline: What Happened on the Morning of September 11, 2001 Nothing Urgent: The Curious Lack of Military Action on the Morning of September. 11, 2001 - by George Szamuely – 2012-08-12 Political Deception: The Missing Link behind 9-11 - by Michel Chossudovsky – 2002-06-20 On the morning of September 11, Pakistan’s Chief Spy General Mahmoud Ahmad, the alleged “money-man” behind the 9-11 hijackers, was at a breakfast meeting on Capitol Hill hosted by Senator Bob Graham and Rep. Porter Goss, the chairmen of the Senate and House Intelligence committees. 9/11 Contradictions: Bush in the Classroom - by Dr. David Ray Griffin – 2008-04-04 9/11 Contradictions: When Did Cheney Enter the Underground Bunker? - by David Ray Griffin – 2008-04-24 VIDEO: Pilots For 9/11 Truth: Intercepted Don’t miss this important documentary, now on GRTV - 2012-05-16

PART II What Happened on the Planes “United 93″: What Happened on the Planes? - by Michel Chossudovsky – 2006-05-01   Phone Calls from the 9/11 Airliners Response to Questions Evoked by My Fifth Estate Interview - by Prof David Ray Griffin – 2010-01-12 Given the cell phone technology available in 2001, cell phone calls from airliners at altitudes of more than a few thousand feet, were virtually impossible Ted Olson’s Report of Phone Calls from Barbara Olson on 9/11: Three Official Denials - by David Ray Griffin – 2008-04-01 Ted Olson’s report was very important. It provided apparent “evidence” that American 77 had struck the Pentagon.

PART III What Caused the Collapse of The WTC Buildings and the Pentagon? The Destruction of the World Trade Center: Why the Official Account Cannot Be True - by Dr. David Ray Griffin – 2006-01-29 The official theory about the Twin Towers says that they collapsed because of the combined effect of the impact of the airplanes and the resulting fires Evidence Refutes the Official 9/11 Investigation: The Scientific Forensic Facts - by Richard Gage, Gregg Roberts – 2010-10-13 VIDEO: Controlled Demolitions Caused the Collapse of the World Trade Center (WTC) buildings on September 11, 2001 - by Richard Gage – 2009-09-20 VIDEO: 9/11: The Myth and The Reality Now on GRTV - by Prof. David Ray Griffin – 2011-08-30 Undisputed Facts Point to the Controlled Demolition of WTC 7 - by Richard Gage – 2008-03-28 VIDEO: 9/11 Explosive Evidence: Experts Speak Out See the trailer for this ground-breaking film on GRTV - 2011-08-03 9/11: “Honest Mistake” or BBC Foreknowledge of Collapse of WTC 7? Jane Standley Breaks Her Silence - by James Higham – 2011-08-18 The Collapse of WTC Building Seven. Interview. Comment by Elizabeth Woodworth - by David Ray Griffin – 2009-10-17   Building What? How SCADs Can Be Hidden in Plain Sight: The 9/11 “Official Story” and the Collapse of WTC Building Seven - by Prof David Ray Griffin – 2010-05-30 Besides omitting and otherwise falsifying evidence, NIST also committed the type of scientific fraud called fabrication, which means simply “making up results.” VIDEO; Firefighters’ Analysis of the 9/11 Attacks Refutes the Official Report - by Erik Lawyer – 2012-08-27 VIDEO: Pentagon Admits More 9/11 Remains Dumped in Landfill - by James Corbett – 2012-03-01 The Pentagon revealed that some of the unidentifiable remains from victims at the Pentagon and Shanksville sites on September 11, 2001 were disposed of in a landfill. 9/11: The Attack on the Pentagon on September 11, 2001 The Official Version Amounts to an Enormous Lie - by Thierry Meyssan – 2012-08-16

PART IV Lies and Fabrications: The 9/11 Commission Report A National Disgrace: A Review of the 9/11 Commission Report - by David Ray Griffin – 2005-03-24 The 9/11 Commission Report: A 571 Page Lie - by Dr. David Ray Griffin – 2005-09-08 September 11, 2001: 21 Reasons to Question the Official Story about 9/11 - by David Ray Griffin – 2008-09-11 911 “Conspiracy Theorists” Vindicated: Pentagon deliberately misled Public Opinion Military officials made false statements to Congress and to the 911 Commission - by Michel Chossudovsky – 2006-08-02 The 9/11 Commission’s Incredible Tales Flights 11, 175, 77, and 93 - by Prof. David Ray Griffin – 2005-12-13 9/11 and the War on Terror: Polls Show What People Think 10 Years Later - by Washington’s Blog – 2011-09-10

PART  V Foreknowledge of 9/11   VIDEO: The SECRET SERVICE ON 9/11: What did the Government Know? Learn more on this week’s GRTV Feature Interview - by Kevin Ryan, James Corbett – 2012-04-10 9/11 Foreknowledge and “Intelligence Failures”: “Revealing the Lies” on 9/11 Perpetuates the “Big Lie” - by Prof. Michel Chossudovsky – 2011-09-14 “Foreknowledge” and “Failure to act” upholds the notion that the terrorist attacks (“act of war”) “waged by Muslims against America” are real, when all the facts and findings point towards coverup and complicity at the highest levels of the US government. Foreknowledge of 9/11 by Western Intelligence Agencies - by Michael C. Ruppert – 2012-08-21

PART XII Post 9/11 “Justice” IRAN ACCUSED OF BEING BEHIND 9/11 ATTACKS. U.S. Court Judgment, December 2011 (Havlish v. Iran) - by Julie Lévesque – 2012-05-11 U.S. Court Judgment, December 2011 (Havlish v. Iran) “American Justice”: The Targeted Assassination of Osama Bin Laden Extrajudicial executions are unlawful - by Prof. Marjorie Cohn – 2011-05-10 ALLEGED “MASTERMIND” OF 9/11 ON TRIAL IN GUANTANAMO: Military Tribunals proceed Despite Evidence of Torture - by Tom Carter – 2012-05-30 U.S. Military Drugged Detainees to Obtain FALSE Confessions Self-confessed 9/11 “mastermind” falsely confessed to crimes he didn’t commit - by Washington’s Blog – 2012-07-15 911 MILITARY TRIAL: Pentagon Clears Way for Military Trial of Five charged in 9/11 Attacks - by Bill Van Auken – 2012-04-06 Khalid Sheikh Mohammed’s trial will convict us all - by Paul Craig Roberts – 2009-11-25

PART VII 9/11 and the “Global War on Terrorism” (GWOT) Political Deception: The Missing Link behind 9-11 - by Michel Chossudovsky – 2002-06-20 On the morning of September 11, Pakistan’s Chief Spy General Mahmoud Ahmad, the alleged “money-man” behind the 9-11 hijackers, was at a breakfast meeting on Capitol Hill hosted by Senator Bob Graham and Rep. Porter Goss, the chairmen of the Senate and House Intelligence committees. 9/11 ANALYSIS: From Ronald Reagan and the Soviet-Afghan War to George W Bush and September 11, 2001 - by Michel Chossudovsky – 2010-09-09 Osama bin Laden was recruited by the CIA in 1979. The US spent millions of dollars to supply Afghan schoolchildren with textbooks filled with violent images and militant Islamic teachings.     The Central Role of Al Qaeda in Bush’s National Security Doctrine “Revealing the Lies” on 9/11 Perpetuates the “Big Lie” - by Michel Chossudovsky – 2007-07-12 September 11, 2001: America and NATO Declare War on Afghanistan NATO’s Doctrine of Collective Security - by Michel Chossudovsky – 2009-12-21   America’s Holy Crusade against the Muslim World. - by Michel Chossudovsky – 2010-08-30 What is now unfolding is a generalized process of demonization of an entire population group

Osamagate - by Michel Chossudovsky – 2001-10-09 The main justification for waging this war has been totally fabricated. The American people have been deliberately and consciously misled by their government into supporting a major military adventure which affects our collective future. The “Demonization” of Muslims and the Battle for Oil - by Michel Chossudovsky – 2007-01-04 Muslim countries possess three quarters of the World’s oil reserves. In contrast, the United States of America has barely 2 percent of total oil reserves.   Was America Attacked by Muslims on 9/11? - by David Ray Griffin – 2008-09-10 Much of US foreign policy since 9/11 has been based on the assumption that America was attacked by Muslims on 9/11.   New Documents Detail America’s Strategic Response to 9/11 Rumsfeld’s War Aim: “Significantly Change the World’s Political Map” - by National Security Archive – 2011-09-12

PART VIII The Alleged 9/11 Mastermind: The Life and Death of  Osama bin Laden Who Is Osama Bin Laden? - by Michel Chossudovsky – 2001-09-12   VIDEO: The Last Word on Osama Bin Laden - by James Corbett – 2011-05-24 Osama bin Laden: A Creation of the CIA - by Michel Chossudovsky – 2011-05-03 Interview with Osama bin Laden. Denies his Involvement in 9/11 Full text of Pakistani paper’s Sept 01 “exclusive” interview - 2011-05-09 Where was Osama on September 11, 2001? - by Michel Chossudovsky – 2008-09-11 On September 10. 2001, Osama was in a Pakistan military hospital in Rawalpindi, courtesy of America’s indefectible ally Pakistan Osama bin Laden, among the FBI’s “Ten Most Wanted Fugitives”: Why was he never indicted for his alleged role in 9/11? - by Michel Chossudovsky – 2006-09-17 Osama bin Laden: Already Dead… Evidence that Bin Laden has been Dead for Several Years - by Prof. David Ray Griffin – 2011-05-02 The Mysterious Death of Osama bin Laden: Creating Evidence Where There Is None - by Dr. Paul Craig Roberts – 2011-08-04 The Assassination of Osama bin Laden: Glaring Anomalies in the Official Narrative Osama was Left Handed… - by Felicity Arbuthnot – 2011-05-11 The Assassination of Osama Bin Laden - by Fidel Castro Ruz – 2011-05-07 Dancing on the Grave of 9/11. Osama and “The Big Lie” - by Larry Chin – 2011-05-05

PART  IX  ”False Flags”: The Pentagon’s Second 9/11 The Pentagon’s “Second 911″ “Another [9/11] attack could create both a justification and an opportunity to retaliate against some known targets” - by Michel Chossudovsky – 2006-08-10 The presumption of this military document, is that a Second 911 attack “which is lacking today” would usefully create both a “justification and an opportunity” to wage war on “some known targets Crying Wolf: Terror Alerts based on Fabricated Intelligence - by Michel Chossudovsky – 2006-08-20 This is not the first time that brash and unsubstantiated statements have been made regarding an impending terror attack, which have proven to be based on “faulty intelligence”.

PART X “Deep Events” and State Violence The Doomsday Project and Deep Events: JFK, Watergate, Iran-Contra, and 9/11 - by Prof. Peter Dale Scott – 2011-11-22 The Doomsday Project is the Pentagon’s name for the emergency planning “to keep the White House and Pentagon running during and after a nuclear war or some other major crisis.” JFK and 9/11 Insights Gained from Studying Both - by Dr. Peter Dale Scott – 2006-12-20 In both 9/11 and the JFK assassination, the US government and the media immediately established a guilty party. Eventually, in both cases a commission was set up to validate the official narrative. Able Danger adds twist to 9/11 9/11 Ringleader connected to secret Pentagon operation - by Dr. Daniele Ganser – 2005-08-27 Atta was connected to a secret operation of the Pentagon’s Special Operations Command (SOCOM) in the US. A top secret Pentagon project code-named Able Danger identified Atta and 3 other 9/11 hijackers as members of an al-Qaida cell more than a year before the attacks. 9/11, Deep State Violence and the Hope of Internet Politics - by Prof. Peter Dale Scott – 2008-06-11 The unthinkable – that elements inside the state would conspire with criminals to kill innocent civilians – has become thinkable… Al Qaeda: The Database. - by Pierre-Henri Bunel – 2011-05-12

PART XI Propaganda: Creating and Perpetuating the 9/11 Legend September 11, 2001: The Propaganda Preparation for 9/11: Creating the Osama bin Laden “Legend” - by Chaim Kupferberg – 2011-09-11 THE 9/11 MYTH: State Propaganda, Historical Revisionism, and the Perpetuation of the 9/11 Myth - by Prof. James F. Tracy – 2012-05-06   Al Qaeda and Human Consciousness: Al Qaeda, Al Qaeda…. An Incessant and Repetitive Public Discourse - by Prof. Michel Chossudovsky – 2012-03-24 9/11 Truth, Inner Consciousness and the “Public Mind” - by James F. Tracy – 2012-03-18

PART VI Insider Trading and the 9/11 Financial Bonanza 9/11 Attacks: Criminal Foreknowledge and Insider Trading lead directly to the CIA’s Highest Ranks CIA Executive Director “Buzzy” Krongard managed Firm that handled “Put” Options on UAL - by Michael C. Ruppert – 2012-08-13 The 9/11 Attacks on the World Trade Center (WTC): Unspoken Financial Bonanza - by Prof Michel Chossudovsky – 2012-04-27 SEPTEMBER 11, 2001: Insider Trading 9/11 … the Facts Laid Bare - by Lars Schall – 2012-03-20 Osama Bin Laden and The 911 Illusion: The 9/11 Short-Selling Financial Scam - by Dean Henderson – 2011-05-09

PART XIII 9/11 Truth Revealing the Lies,  Commemorating the 9/11 Tragedy VIDEO: Commemorating the 10th Anniversary of 9/11 - by Prof. Michel Chossudovsky – 2011-09-01 VIDEO: AFTER 9/11: TEN YEARS OF WAR Special GRTV Feature Production - by James Corbett – 2011-09-08

The US is making a desperate attempt to knock over a petro-state or two or three before its shale oil runs out, with the Canadians, their tar sands now unprofitable, hitching a ride on its coat-tails, because if this attempt doesn't work, then it's lights out for the empire. But none of their recent gambits have worked. This is the winter of imperial discontent, and the empire is has been reduced to pulling pathetic little stunts that would be quite funny if they weren't also sinister and sad.

But a bunch of deluded people muttering to themselves in a dark corner, while the rest of the world points at them and laughs, does not an empire make. With this level of performance, I would venture to guess that nothing the empire tries from here on will work to its satisfaction.

Because it will recover. The fix for low oil prices is... low oil prices. Past some point high-priced producers will naturally stop producing, the excess inventory will get burned up, and the price will recover. Not only will it recover, but it will probably spike, because a country littered with the corpses of bankrupt oil companies is not one that is likely to jump right back into producing lots of oil while, on the other hand, beyond a few uses of fossil fuels that are discretionary, demand is quite inelastic. And an oil price spike will cause another round of demand destruction, because the consumers, devastated by the bankruptcies and the job losses from the collapse of the oil patch, will soon be bankrupted by the higher price. And that will cause the price of oil to collapse again. And so on until the last industrialist dies. His cause of death will be listed as “whiplash”: the “shaken industrialist syndrome,” if you will. Oil prices too high/low in rapid alternation will have caused his neck to snap.

Late last year, Judge Jed Rakoff of the Federal District Court of Manhattan wrote an essay in The New York Review of Books bluntly titled, “The Financial Crisis: Why Have No High-Level Executives Been Prosecuted?” He suggested a doctrine of “willful blindness” at Holder’s Justice Department and said “the department’s claim that proving intent in the financial crisis is particularly difficult may strike some as doubtful.” A federal judge will generally not proclaim people guilty outside the courtroom, but Rakoff came close with that statement. The fact he wrote the essay at all stunned many observers. In recent years, the Justice Department has obtained some large-dollar settlements with Wall Street firms like JPMorgan Chase and Bank of America. But the headline-grabbing amounts end up being significantly less after factoring in tax accounting and credits for actions already being undertaken by the bank. There is also a lack of transparency around how these penalties are being paid to aggrieved consumers. Holder himself suggested in Senate testimony last year that some firms really are too big to jail:

“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy,” Holder said. He later walked that back in subsequent testimony, saying “Let me be very, very, very clear. Banks are not too big to jail.” But the data suggest otherwise.

Public Citizen did an analysis of these agreements at the Department of Justice and found that Holder made them a routine affair:

There isn’t much transparency over which bad actors are awarded deferred prosecution, and which are not, and advocates are alarmed by the precedent. “[Holder] ensconced the de facto ‘too-big-to-fail’ doctrine by which large financial institutions were effectively immunized form criminal prosecution simply by virtue of being so big,” said Weissman.

The allegation that the collapse was willingly brought about by an anti-EU-skeptic alliance is substantiated by the fact that EU officials are notoriously known for anti-democratic practices, and especially for targeting EU-skeptics. In March 2013, a leaked, secret EU report revealed that the European Commission planned to use millions of euro on a massive manipulation campaign up to the 2014 elections. Morten Messerschmidt, an MEP for the Danish People’s Party which left the EFDD in June 2014, denounced the pre-election pro-EU campaign as undemocratic and dangerous.

Likewise, the Euro-skeptic block was targeted with a unified scare campaign when UKIP and other Euro-skeptics won more seats during the last EU Parliamentary elections than expected. Corporate and state-funded media throughout Europe, almost unanimously, warned that Europe was on a “slippery slope towards fascism”, while it was neglected that most of the establishment pro-EU parties supported the Nazi and Ultra-Nationalist coup d’État in Ukraine.