Forum Post: Immunity for Banks.
Posted 12 years ago on Oct. 18, 2011, 8:12 p.m. EST by SwiftJohn
(79)
This content is user submitted and not an official statement
One of my primary reasons for supporting the occupation is my belief that Banks have been not only bailed out with our tax dollars but have been let off without paying for crime that they have committed.
Currently the Attorneys General of at least 48 U.S. States are negotiating with the largest Wall Street banks and promising to grant them immunity from crimes that they committed such as generating false foreclosure documents or failing to pay state taxes in exchange for 25 Billion dollars in flat fees. Only New York's attorney general is seeking to prosecute the banks for failure to pay debts and for participation in robo-signing among other things. According to a Reuters story linked below the negotiations moved forward recently as the states guaranteed more immunity to the banks than before. This move, make no mistake, is a bailout by other means as discussed in the Rolling Stone article linked below.
Whether OWS is about lobbying or not I believe that this forum can be a means to promulgate action so here goes. I, for one, am opposed to this bailout and I plan to write my state attorney general to state that:
1) This bailout represents an unconcionable slap on the wrist for major financial crimes.
2) The behaviors this legitimizes cost states and counties billions and will not be adequately compensated for by this act.
3) This leaves individual homeowners out in the cold as the states seek to protect the banks not their citizens.
4) Banks should be treated like any other individual when they commit crimes. The scale of a crime should not absolve one from judgment.
I therefore demand that you withdraw from this negotiation and prosecute the banks holding them accountable for their crimes.
I will post addresses as I collect them but if you also believe in this I urge you to send a, polite but firm, letter to your state's attorney general making these same points, and to share any contact info you find here. I recognize that not everyone believes that such campaigns make sense but I believe it polite to at least inform the attorneys general why we are mad.
EDIT: Two new news pieces have come out regarding the deal. In [3] the author discusses recent leaks that, among other things, indicate that most of the 25 billion would be in the form of credits to banks to take reductions on homes. That is, it would be the banks compensating themselves on paper for taking losses that they should take. In [4] it seems that the Delaware Attorney General has begun suing MERS over foreclosure practices.
- http://www.reuters.com/article/2011/10/18/us-financial-regulation-mortgages-idUSTRE79H7P820111018
- http://www.rollingstone.com/politics/blogs/taibblog/attorneys-general-settlement-the-next-big-bank-bailout-20111005
- http://www.nakedcapitalism.com/2011/10/latest-leak-on-state-attorney-general-mortgage-settlement-a-shameless-sellout-to-the-banks.html
- http://www.nakedcapitalism.com/2011/10/delaware-attorney-general-sues-mers-over-deceptive-practices-asks-for-halt-of-foreclosures-relying-on-mers.html
As an update to my post above it seems that both the New York and California Attorneys General are out of the settlement preferring to hold the banks more accountable. So residents of those states can contact them to say thank you.
California's Attorney General Kamala Harris can be reached here: http://oag.ca.gov/contact
New York's Attorney General Eric T. Schneiderman can be reached here: http://oag.ca.gov/contact
Start the war against Injustice by starting our own banks to double the income of the Bottom 99% of Workers, for many more people will come to your side when you are proactive (for “new” Business & Government solutions), instead of reactive (against “old” Business & Government solutions), which is why what we most immediately need is a comprehensive “new” strategy that implements all our various socioeconomic demands at the same time, regardless of party, and although I'm all in favor of taking down today's ineffective and inefficient Top 1% Management System of Business & Government, there's only one way to do it – by fighting bankers as bankers ourselves, and thus doubling our income from Bank Profits which are 40% of all Corporate Profits; that is, using a Focused Direct Democracy organized according to our current Occupations & Generations. Consequently, I have posted a 1-page Summary of the Strategically Weighted Policies, Organizational Operating Structures, and Tactical Investment Procedures necessary to do this at:
http://getsatisfaction.com/americanselect/topics/on_strategically_weighted_policies_organizational_operating_structures_tactical_investment_procedures-448eo
Join http://finance.groups.yahoo.com/group/StrategicInternationalSystems/ because we need 100,000 “support clicks” at AmericansElect.org in support of the above bank-focused platform.
Most importantly, remember, as cited in the first link, that as Bank Owner-Voters in your 1 of 48 "new" Business Investment Groups (or "new" Congressional Committees) you become the "new" Online Congress, and related “new” Businesses, REPLACING the "old" Congress, and related “old” Businesses, according to your current Occupations & Generations, called a Focused Direct Democracy.
Therefore, any Candidate (or Leader) therein, regardless of party, is a straw man, a puppet, a political opportunist, just like today; what's important is the STRATEGY – the sequence of steps – that the people organize themselves under in Military Internet Formation of their Individual Purchasing Power & Group Investment Power. In this, sequence is key, and if the correct mathematical sequence is followed then it results in doubling the income of the Bottom 99% of Workers from today's Bank Profits, which are 40% of all Corporate Profits.
Why? Because there are Natural Social Laws – in mathematical sequence – that are just like Natural Physical Laws, such as the Law of Gravity. You must follow those Natural Social Laws or the result will be Injustice, War, etc.
The FIRST step in Natural Social Law is to CONTROL the Banks as Bank Owner-Voters. If you do not, you will inevitably be UNJUSTLY EXPLOITED by the Top 1% Management System of Business & Government who have a Legitimate Profit Motive, just like you, to do so.
Consequently, you have no choice but to become Candidates (or Leaders) yourselves as Bank Owner-Voters according to your current Occupations & Generations.
So JOIN the 2nd link, and spread the word, so we can make 100,000 support clicks at AmericansElect.org when called for, at exactly the right time, by an e-mail from that group, in support of the above the bank-focused platform. If so, then you will see and feel how your goals can be accomplished within the above strategy as a “new” Candidate (or Leader) of your current Occupation & Generation.
What about Community Banks. Rather than reinventing the wheel could we connect with Community Banks, State Banks, or other institutions that are already legally bound to support the local development and local support that we are after?
First, Community Banks, like other bigger banks, are not organized as I have outlined into 48 Business Investment Groups where the Bottom 99% of Workers PERSONALLY decide Business Loans, and related Individual Business Proposals, according to their Occupation & Generation.
Second, Community Bank, like other bigger banks, DON'T pass through ALL the Interest Income; the vast majority of their Interest Income gets siphoned off to the 1%, so a Community it's a smaller scam that still benefits only the 1%.
All of the above is also true of Credit Unions.
Consequently, the Bottom 90% of Workers have no choice but to create their own Bank (or Credit Union) organized as I have described IF they want liberty and justice for all, agreed?
Is this really true of all credit unions and community banks? I had thought that the premise of many of the workplace credit unions or state-run community banks was different. In any event what about the current structures prevents this from being done now?
What do you mean by "Military Internet Formation"?
Credit unions are different. And community banks do operate under stricter rules in most states than national banks, and their local ties make them think differently in many cases.
The rest is nonsense.
Yes, it's true. Credit unions and community banks are just window dressing for the 1% although it is true that community banks due receive some favorable government loans and grants for focusing SLIGHTLY more on the community, but this focus is immaterial compared to their actual operation in support of the 1%.
Military Internet Formation is described in the 1st link at: http://getsatisfaction.com/americanselect/topics/on_strategically_weighted_policies_organizational_operating_structures_tactical_investment_procedures-448eo
I can be much more mathematically specific, but first, are you SURE you understand the above first link? If not, you WON'T understand a Generational Chain of Command spread-out across its 48 Business Investment Groups, right? Tell me you're sure you understand and we'll discuss the Generational Chain of Command in more detail.