Bill Black on “It’s Our Money”

bill-black“Fish Rot from the Head”

So says this week’s guest Bill Black about the recent Wells Fargo scandal in which millions of customers were beset with unrequested accounts that cost them fees and affected their credit scores – another in the long line of Big-Bank violations.  Black, author of “The Best Way To Rob A Bank Is To Own One” is renowned for obtaining convictions of almost a thousand bankers and sending several hundred of them to prison when he was a Federal regulator back in 1990 during the savings and loan scandal. He talks with Ellen about why that sort of regulatory punch no longer exists.  Selling-off public assets and services is discussed by co-host Walt McRee with the Executive Director of In The Public Interest, Donald Cohen, who issued a recent report on how privatization is helping perpetuate economic inequality.  Matt Stannard returns on the Public Banking Report to reflect on how Wells Fargo’s scandal hurts everyone at the bank, not just their customers.

Archived here.

5 Responses

  1. Reblogged this on amnesiaclinic and commented:
    Huge respect for Bill Black and all he has done.

  2. The “deferred prosecution agreement” and criminal admissions of HSBC Bank were Booked in Sept 2012.

    The agreed-upon, criminal behaviors, in what amounts to a plea bargain agreement, include: (Violations of) “TWEA- Trading With Enemies Act”; “BSA Bank Secrecy Act”; all “AMLs- Anti-Money Laundering Acts”; “IEEPA- International, Economic Emergency Power’s Act”.

    The Moore Family of Philadelphia first exposed the DPA and Federal Judge Gleeson wrote the following analysis:

    You may read the court document here:
    Case 1:12-cr-00763-JG Document 23 Filed 07/01/13

    Federal Judge Ann Donnelly has replaced Judge Gleeson and Lynch, Comey, Holder and Breuer have been involved in concealing what is going on. The release of the DPA is now under appeal.

    Lynch, Comey and the Obama DOJ have allied with an English Chinese Bank in allowing the appeal, in order to deny US Citizens any knowledge of its contents.

    The bank agreed they are guilty and the US DOJ has been concealing their admissions, they are guilty, since December 2012.

    The violations occurred in Brooklyn. Loretta Lynch signed for Brooklyn as Prosecutor on Dec 2012.

    Lanny Breuer signed for Eric Holder as Assistant AG on Dec 2012.

    So… Holder, Breuer and Lynch all know and 3 months after they conspired through the DPA to conceal their plea bargain, James Comey was placed on the Executive Board of the English – Chinese hybrid, HSBC- “Hong Kong Shanghai Banking Corporation”.

    Of course, Eric Holder’s Law Firm, “Covington-Burling”, created the MERS and it has been used for over a decade to counterfeit titles to American Homes.

    The counterfeit titles allowed the REMIC Trusts to be violated and Pension Funds to be robbed.

    The REMICs- “Real Estate Mortgage Investment Conduits”, are now, instead, REMIFs- “Real Estate Monopolized Insurance Frauds”.

    Holder’s MERS allows banks to “pretend” ownership of real estate, on “loans” the Pension Plans have already paid, in-full.

    The banks then place the Assets (title to American Homes) in Shadow Trusts in the Cayman Islands (Google Bucketeering).

    The banks then sit back and use the 30-day monthly payments to cleanse terror and drug money in the HSBC criminal laundry. Some “loans” are for 20-30 years (of payments, on titles, paid, in-full, by Pension plans, every 30 days).

    The banks also use counterfeit title to place “Naked Short Sale Derivatives Bets” that Americans will default (go into foreclosure), so they can collect on the “Derivatives”, as “Insurance Pay-Offs”.

    The banks also use counterfeit title to cheat all 3142 county recorders, across 50 US states.

    This is one reason why there is zero money for representative government in places where children are poisoned to death because of the lack of fresh water… places like Flint, Michigan.

    ~Michael Keane 10/7/16

    Holder’s law firm created the counterfeit machine that is the MERS- “Mortgage Electronic Registration System”. It is an imposter to lawful, as set by precedent, paper, wet-ink signature, original contracts, entered into county offices, as opposed to electronic, digitized COPY, entered into an electronic, privately-owned and operated, never vetted as legal, computer boutique.

    Please contact me directly if you think an electronic copy of a contractual signature is the same as the original- I want to sell you a Babe Ruth-signed, baseball.

    Read : http://scholarship.law.wm.edu/cgi/viewcontent.cgi?article=3399&context=wmlr

    Particularly p. 116. It describes the MERS as a “shell company” used to “pretend” to own American real estate. Read footnote 23, from p.116. R.K. Arnold, the CEO explains it his intention to “capture” every “mortgage” in the country.

    (The author, Professor Christopher L. Peterson wrote the MERS critique while a law professor at SJ Quinney Law School, in Utah. He is now the chief counsel for enforcement of the CFPB.)

    Arnold and the MERS now claim an “ownership” ability to transfer some 70 million American real estate titles, despite Arnold’s deposition in court he is the sole employee of his company.

    Arnold’s claim he is the sole employee is refuted by some millions of rubber stamps he sold for $25.00 a throw that now show any number of mortgage-industry-insiders rubber-stamping forged documents that claim they are, in fact, MERS Employees.

    Their position in the company invariably describes these frauds as “Senior Vice Presidents…

    To a company the owner claims has no employees.

    Holder and Breuer worked 8 Obama years and never prosecuted a single banker. Now, Holder and Breuer are back working for their old law firm, “Covington-Burling”, that created the hopelessly fraudulent MERS.

    In fact, Holder’s other creation, “TBTF”, is yet another, intentional lie; read David Dayen, from “Livinglies”: https://livinglies.wordpress.com/…/david-dayen-eric-holder…/ .

    https://livinglies.wordpress.com/2016/07/15/david-dayen-eric-holders-longtime-excuse-for-not-prosecuting-banks-just-crashed-and-burned/

    Lynch, Comey, Holder, Breuer are all aware of the contents of the DPA as those criminal admissions are given in the name of Clinton’s Criminal Laundry of choice: “HSBC”, “Hong Kong Shanghai Banking Corporation”; a bank that supplied the Clintons 80 million from among a cast of the usual suspects within the banking industry http://www.salon.com/2012/09/14/clintons_no_liberal_hero/

    So, 6 months after Two Attorneys General are aware an English-Chinese bank is laundering terror and drug money for known enemies of the US, killing our soldiers, the present FBI Director James Comey is placed on the executive board of that bank. Holder’s wife and Loretta Lynch are sorority sisters and Comey’s brother makes millions as the Clinton’s accountant- just one big, happy family.

    ~ Michael Keane (written 10/7/16)

  3. […] by Ellen Brown EllenBrown.com […]

  4. […] Posted on October 8, 2016 by Ellen Brown […]

  5. As I read the article above I was reminded of an piece written years ago, Mr. Black has good reason for is continued quest for financial reform. The big question is how to attack this monster that hides behind a complex veil. Below is that 2012 article which focused on this important issue.

    http://brucewilds.blogspot.com/2012/12/grand-bargain-or-great-betrayal.html

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