Let the Lawsuits Begin: Banks Brace for a Storm of Litigation

Lawsuits threaten the banks from all sides – from state attorneys general, consumer class actions, and investor backlash. Shifting liability for the subprime debacle back to the banks could bankrupt even the biggest banks. But that might not be the end of the world . . .


9 Responses

  1. Ellen, I loved your article and used quotes from it in one of my own articles entitled: AWAKENING FROM THE TYRANNY OF IGNORANCE & RECLAIMING PERSONAL SOVEREIGNTY. It is not yet posted on my website, which will be explained when I do post it. Anyway, I also listened to one of your interviews. I appreciate what you are doing very much. Thank you, and Namaste.

  2. Ellen,
    Amazing article…in just 5 pages you’ve been able to transform what looks like a crisis into an incredible opportunity to institute changes in a system that is collapsing and as a result, come out the other end better than ever.

    This should be the ‘shot heard round the world’–let the ‘evolution’ begin as we walk away from the tyranny of the ‘domination’ of the few over the many by ending the debt system forever.

    Thank you for all your great work!

  3. Well done. I believe you have proposed a very reasonable solution. The only problem is ‘will anybody listen’?

  4. Yes, that is the problem! I just keep writing . . .

  5. Let the Lawsuits Begin: Banks Brace for a Storm of Litigation …A new way to explore the world’s news. Millions of high-quality photos, stories, blog posts, major quotes and more, covering every topic.

  6. “Banks Brace for Storm of Litigation” is hot stuff, Ellen. Pound ’em! Pound
    ’em! Pound ’em! If the next president of the United States lets these
    bastards (the bankers and members of the Bush administration) off the hook, it’s all over for the United States of America.

    Sorry about the double post, Ellen. I was in a hurry the first time.

  7. I sent this article to my local city council members in Ventura California urging them to adopt your solutions. And then I sent it to our Attorney General, Jerry Brown, asking if he would spearhead a legal challenge to the Federal Reserve Act, to restore our Constitutional monetary system. Next I will locate the members of our state legislature.

    We need a People’s Campaign that is loud and massive. These swindlers are driving our country into insolvency and destroying our Constitutional rights. We cannot rely on Congress. We need to take charge city by city and state by state.

    I recommend that you read “Toward an American Revolution: Exposing the Constitution and Other Illusions” by Jerry Fresia. He has done a masterful job of explaining why we have a system that supports an aristocracy instead of The People. Murray Rothbard adds more dimension to the picture with his understanding as an economist. For more than a century our government has been handing out tax breaks and exclusive franchises to the ultra-wealthy, strengthening their monopolies and cartels. The Federal Reserve swindle is just ONE of many betrayals. Our economic system isn’t capitalism, with free enterprise and fair competition keeping prices in balance through supply and demand. Rothbard describes it as state-sponsored “cartelism”. Webster Tarpley has used the word “dirigisme” to describe our system. Antony Sutton is another author who tripped over the truth, investigating Wall Street and the Bolshevik Revolution. This is not a democracy and our economic system is not textbook capitalism.

    I have learned (very slowly) that politics and economics cannot be separated. The purpose of politics, at least in our country, is to expand the wealth of an oligarchy at the expense of everyone else. They have always had all the wealth and all the power. We never really won our independence. The oligarchs control the media and buy the politicians, set government policy and install their puppets in the centers of power. They create wars and fund both sides, reaping billions in profit. We have been fed myths about our system that prevent us from perceiving things as they are. We need to see the whole system as it really is before we can see the solutions.

    You have a gift for explaining complex topics and proposing practical solutions. After reading the recommended authors you would be able to synthesize their ideas and present a clear map for us to follow. What we do have going for us is mass, which translates into real leverage if we act in concert. Getting everyone educated is a big challenge with the controlled media working against us but we can do it ~ with excellent work like yours and the internet.

    Nothing would make me happier than abolishing the Federal Reserve and the IRS. But we need to go further and reveal how the whole system works. People are usually concerned about a single issue and don’t see the whole. What usually happens when corruption is exposed is a pretense of reform that just moves the crap game to another room in the castle. I can envisage a People’s Campaign being very effective if it is grounded in a true picture of the whole system. I nominate you for our leader!

  8. Thanks Nikki! I agree, much of what you read on these subjects is narrowly focused, geared toward what investors can do to protect themselves, etc. We need a mass movement to protect the whole Common Wealth as envisioned by our Founding Fathers. I’ll look into your suggested reading.

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