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Paul Merrell

FBI Drops Law Enforcement as 'Primary' Mission - 0 views

thecable.foreignpolicy.com/...enforcement_as_primary_mission

war on terror™ FBI white-collar-crime politics of fear

shared by Paul Merrell on 07 Jan 14 - No Cached
  • The FBI's creeping advance into the world of counterterrorism is nothing new. But quietly and without notice, the agency has finally decided to make it official in one of its organizational fact sheets. Instead of declaring "law enforcement" as its "primary function," as it has for years, the FBI fact sheet now lists "national security" as its chief mission.
  • Whatever the reason, the agency's increased focus on national security over the last decade has not occurred without consequence. Between 2001 and 2009, the FBI doubled the amount of agents dedicated to counterterrorism, according to a 2010 Inspector's General report. That period coincided with a steady decline in the overall number of criminal cases investigated nationally and a steep decline in the number of white-collar crime investigations. "Violent crime, property crime and white-collar crime: All those things had reductions in the number of people available to investigate them," former FBI agent Brad Garrett told Foreign Policy. "Are there cases they missed? Probably."
  • According to a 2007 Seattle Post-Intelligencer investigation, the Justice Department did not replace 2,400 agents assigned to focus on counterterrorism in the years following 9/11. The reductions in white-collar crime investigations became obvious. Back in 2000, the FBI sent prosecutors 10,000 cases. That fell to a paltry 3,500 cases by 2005.  "Had the FBI continued investigating financial crimes at the same rate as it had before the terror attacks, about 2,000 more white-collar criminals would be behind bars," the report concluded. As a result, the agency fielded criticism for failing to crack down on financial crimes ahead of the Great Recession and losing sight of real-estate fraud ahead of the 2008 subprime mortgage crisis.
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  • What's not in question is that government agencies tend to benefit in numerous ways when considered critical to national security as opposed to law enforcement. "If you tie yourself to national security, you get funding and you get exemptions on disclosure cases," said McClanahan. "You get all the wonderful arguments about how if you don't get your way, buildings will blow up and the country will be less safe."
Gary Edwards

Obama Goes All Out For Dirty Banker Deal | Rolling Stone Politics | Taibblog | Matt Tai... - 0 views

www.rollingstone.com/...for-dirty-banker-deal-20110824

matt-taibbi Banksters Obama-Bankster-Power-Play

shared by Gary Edwards on 24 Aug 11 - No Cached
  • Gary Edwards on 24 Aug 11
     
    This is as bad as white-collar crime gets. But to Wylde, it doesn't rise to the level of being "indefensible." Until they do something worse than this, we apparently should support the banks, and make sure they don't have to pay more than a fraction of what they made off of this kind of crime. What is most amazing about Wylde's quote is the clear implication that even a law enforcement official like Schneiderman should view it as his job to "do everything we can to support" Wall Street. That would be astonishing interpretation of what a prosecutor's duties are, were it not for the fact that 49 other Attorneys General apparently agree with her. In Schneiderman we have at least one honest investigator who doesn't agree, which is to his great credit. But everyone else is on Wylde's side now. The Times story claims that HUD Secretary Shaun Donovan and various Justice Department officials have been leaning on the New York AG to cave, which tells you that reining in this last rogue cop is now an urgent priority for Barack Obama. Why? My theory is that the Obama administration is trying to secure its 2012 campaign war chest with this settlement deal. If he can make this foreclosure thing go away for the banks, you can bet he'll win the contributions battle against the Republicans next summer. Which is good for him, I guess, but it seems to me that it might be time to wonder if is this the most disappointing president we've ever had.
Gary Edwards

'The Destruction of the Rule of Law' according to Ratigan, Black and DeGraw - 1 views

www.thedailybell.com/...-Law-according-to-David-DeGraw

Banksters Dylan-Rattigan OWS Occupy-Wall-Street crony-capitalism

shared by Gary Edwards on 19 Oct 11 - No Cached
  • Gary Edwards on 19 Oct 11
     
    Amazing video discussion about Occupy Wall Street movement, and the outrageous Bankster fraud that has not been prosecuted by the Obama DOJ. Dylan Rattigan interviews White Collar Crime expert, Attorney William Black and, OWS organizer David DeGraw. Attorney Black points out that both the FBI and the Financial Services Bank . "We put the Treasury Secretary up for auction, and lately Goldman Sachs has been the highest bidder". Clinton-Reuben, Bush-Paulsen, Obama-Geitner. Get rid of the systemically dangerous institutions.
Paul Merrell

FinCEN Files: Bernie Sanders and Elizabeth Warren join watchdog groups in calling for b... - 1 views

www.icij.org/...in-calling-for-banking-reforms

banksters money-laundering FinCEN-files banking-reform

shared by Paul Merrell on 22 Sep 20 - No Cached
  • Prominent U.S. senators Bernie Sanders and Elizabeth Warren have joined watchdog groups and banking regulators in calling for a crackdown on dirty money and banks that profit from it in the wake of the FinCEN Files investigation. Sanders and Warren, former candidates for the 2020 Democratic presidential nomination who both inspired strong support on the left, called for tougher consequences for banks and their executives who move money linked to crime and corruption.
  • Sanders’ messages came less than a day after the International Consortium of Investigative Journalists’ release of FinCEN Files, a global investigation revealing how leading banks allowed trillions of dollars in tainted money to flow freely through the financial system. Based on more than 2,100 secret reports filed by banks to the U.S. Department of Treasury and obtained by BuzzFeed News, the investigation included more than 400 journalists in 88 countries around the world. Warren also called for a crackdown on banks that are complicit in the spread of dirty money, highlighting policy proposals that would strengthen the ability of law enforcement to combat white collar crime. Warren called for the creation of a new unit in the U.S. Treasury Department to investigate financial crimes linked to the flow of dirty money. She also pushed for the passage of the Ending Too Big to Jail Act, a law she proposed in 2018 that would make it easier to hold Wall Street executives criminally accountable when the banks they lead engage in illegal activity.
  • Elizabeth Rosenberg, a former sanctions official for the U.S. Treasury Department, said the revelations exposed the national security threats posed by banks’ laxity. “The FinCEN Files illustrate the alarming truth that an enormous amount of illicit money is sloshing around our financial system, and that U.S. banks play host and facilitator to rogues and criminals that represent some of America’s most insidious national security threats,” Rosenberg told the Wall Street Journal. Rosenberg urged the passage of stronger transparency laws that crack down on the use of anonymous companies, which are often used for money laundering.
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  • Legislation that would end shell companies by creating a national registry of the real, flesh-and-blood owners of all U.S. companies enjoys overwhelming support in both parties, but remains stalled in the U.S. Senate due to a packed schedule and partisan dysfunction, ICIJ reported in August.
Paul Merrell

FBI Said To Move To "Likely Indictment" Of Clinton Foundation, Fox News Reports | Zero ... - 0 views

www.zerohedge.com/...on-foundation-fox-news-reports

Auction 2016 Hillary FBI-investigations emails Clinton-Foundation

shared by Paul Merrell on 03 Nov 16 - No Cached
  • Roughly at the same time that the WSJ reported of what is now a clear "civil war" between (and within) the FBI and the DOJ, Fox News anchor Bret Baier reported that the FBI's investigation into the Clinton Foundation that has been going on for more than a year has now taken a "very high priority." He added that FBI agents have interviewed and re-interviewed multiple people on the foundation case, which is looking into possible pay for play interaction between then-Secretary of State Hillary Clinton and the Clinton Foundation.   The FBI's White Collar Crime Division is handling the investigation, which will continue, as "there is a lot of evidence. And barring some obstruction in some way, they believe they will continue to likely an indictment."
  • The news was cited by various traders as the catalyst that pressured the USD when it come out late on Wednesday. "There is an avalanche of new information coming in every day," one source told Fox News, who added some of the new information is coming from the WikiLeaks documents and new emails. He added that FBI agents are "actively and aggressively pursuing this case," and will be going back and interviewing the same people again, some for the third time, sources said. Agents are also going through what Clinton and top aides have said in previous interviews and the FBI 302, documents agents use to report interviews they conduct, to make sure notes line up, according to sources.
  • Here are the key highlights from his report, as summarized by Real Clear Politics: The Clinton Foundation investigation is far more expansive than anybody has reported so far and has been going on for more than a year. The laptops of Clinton aides Cherryl Mills and Heather Samuelson have not been destroyed, and agents are currently combing through them. The investigation has interviewed several people twice, and plans to interview some for a third time. Agents have found emails believed to have originated on Hillary Clinton's secret server on Anthony Weiner's laptop. They say the emails are not duplicates and could potentially be classified in nature. Sources within the FBI have told him that an indictment is "likely" in the case of pay-for-play at the Clinton Foundation, "barring some obstruction in some way" from the Justice Department. FBI sources say with 99% accuracy that Hillary Clinton's server has been hacked by at least five foreign intelligence agencies, and that information had been taken from it.
Paul Merrell

Financial frauds had a friend in Holder | Al Jazeera America - 0 views

america.aljazeera.com/...sticefinancialcrisisfraud.html

banksters financial-collapse criminal-prosecution Holder

shared by Paul Merrell on 03 Oct 14 - No Cached
  • Eric Holder was U.S. attorney general at a time when the world desperately needed the nation’s chief law enforcement officer to hold accountable the elite bankers who oversaw the epidemic of fraud that drove the 2008 global financial crisis and triggered the Great Recession. After nearly six years in office, Holder announced on Sept. 25 that he plans to step down, without having brought to justice even one of the executives responsible for the crisis. His tenure represents the worst strategic failure against elite white-collar crime in the history of the Department of Justice (DOJ).  In both the U.S. savings and loan debacle of the late 1980s and the Enron-era accounting frauds of the early 2000s, there were more than 1,000 successful felony convictions in cases designated as major by the DOJ. In both those fraud epidemics, federal prosecutors prioritized the top executives of the corporations responsible. This context makes Holder’s failure to prosecute — much less convict — the elite bank frauds that caused this far larger crisis all the more damning.
  • In addition to the failure to prosecute the leaders of those massive frauds, Holder’s dismal record includes 1) failing to prosecute the elite bankers who led the largest (by several orders of magnitude) price-rigging cartel in history — the LIBOR scandal, in which the world’s largest banks conspired to rig the reported interest rates at which the banks were willing to lend to one another, which affected prices on over $300 trillion in transactions; 2) failing to prosecute the massive foreclosure frauds (robo-signing), in which bank employees perjured themselves by signing more than 100,000 false affidavits in order to deceive the authorities that they had a right to foreclose on homes; 3) failing to prosecute the bid-rigging cartels of bond issuances in order to raise the costs to U.S. cities, counties and states of borrowing money in order to increase banks’ illegal profits; 4) failing to prosecute money laundering by HSBC for the murderous Sinaloa and Norte del Valle drug cartels; 5)  failing to prosecute the senior bank officers of Standard Chartered who helped fund of terrorists and nations that support terrorism; and 6) failing to prosecute the controlling officers of Credit Suisse who for decades helped wealthy Americans unlawfully evade U.S. taxes and then obstructed investigations by the DOJ and Internal Revenue Service for many years.  
  • the CEOs knew that they could trade off a slightly larger fine in return for complete immunity for themselves and other officers who might otherwise be flipped by federal prosecutors to testify against more senior officers. The fines, of course, would be paid not by the CEOs but by the banks they ran. Indeed, one of the lesser-known aspects of the crisis is that the DOJ almost never sued a banker (as opposed to a bank) and virtually never sought to claw back bankers’ fraud proceeds. It is telling that, as even Holder admitted last week, “A corporation may enter a guilty plea and still see its stock price rise the next day.”
Paul Merrell

The $9 Billion Witness: Meet JPMorgan Chase's Worst Nightmare | Rolling Stone - 0 views

www.rollingstone.com/...the-9-billion-witness-20141106

banksters fraud JPMorgan whistleblowers

shared by Paul Merrell on 10 Nov 14 - No Cached
  • Meet the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking By Matt Taibbi | November 6, 2014
  • tried to stay quiet, she really did. But after eight years of keeping a heavy secret, the day came when Alayne Fleischmann couldn't take it anymore.  "It was like watching an old lady get mugged on the street," she says. "I thought, 'I can't sit by any longer.'"  Fleischmann is a tall, thin, quick-witted securities lawyer in her late thirties, with long blond hair, pale-blue eyes and an infectious sense of humor that has survived some very tough times. She's had to struggle to find work despite some striking skills and qualifications, a common symptom of a not-so-common condition called being a whistle-blower.
  • Fleischmann is the central witness in one of the biggest cases of white-collar crime in American history, possessing secrets that JPMorgan Chase CEO Jamie Dimon late last year paid $9 billion (not $13 billion as regularly reported – more on that later) to keep the public from hearing. Back in 2006, as a deal manager at the gigantic bank, Fleischmann first witnessed, then tried to stop, what she describes as "massive criminal securities fraud" in the bank's mortgage operations. Thanks to a confidentiality agreement, she's kept her mouth shut since then. "My closest family and friends don't know what I've been living with," she says. "Even my brother will only find out for the first time when he sees this interview." 
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  • Six years after the crisis that cratered the global economy, it's not exactly news that the country's biggest banks stole on a grand scale. That's why the more important part of Fleischmann's story is in the pains Chase and the Justice Department took to silence her. She was blocked at every turn: by asleep-on-the-job regulators like the Securities and Exchange Commission, by a court system that allowed Chase to use its billions to bury her evidence, and, finally, by officials like outgoing Attorney General Eric Holder, the chief architect of the crazily elaborate government policy of surrender, secrecy and cover-up. "Every time I had a chance to talk, something always got in the way," Fleischmann says.
  • This past year she watched as Holder's Justice Department struck a series of historic settlement deals with Chase, Citigroup and Bank of America. The root bargain in these deals was cash for secrecy. The banks paid big fines, without trials or even judges – only secret negotiations that typically ended with the public shown nothing but vague, quasi-official papers called "statements of facts," which were conveniently devoid of anything like actual facts. 
  • And now, with Holder about to leave office and his Justice Department reportedly wrapping up its final settlements, the state is effectively putting the finishing touches on what will amount to a sweeping, industrywide effort to bury the facts of a whole generation of Wall Street corruption. "I could be sued into bankruptcy," she says. "I could lose my license to practice law. I could lose everything. But if we don't start speaking up, then this really is all we're going to get: the biggest financial cover-up in history." 
  • Paul Merrell on 10 Nov 14
     
    Matt Taibbi is back at Rolling Stone, relaunching with a major blockbuster.
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