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Forum Post: Lawsuits too expensive for Avg Voter to Sue Government or Corporation, and prevents federal Regulation of Corporations

Posted 10 years ago on June 24, 2012, 8:04 a.m. EST by Middleaged (5140)
This content is user submitted and not an official statement

Financial Crisis and Subprime Mortgage Crisis has Gone Un-Punished because of many factors.

1) Lack of Referrals from State and Munipalities to the FBI.
2) Lack of Personnel Assigned to Financial Fraud and Accounting Fraud in the FBI (William Black has estimated requirement might be for 20000 dedicated FBI Lawyers).
3) No Political Will in Washington DC.
4) Lobby and Campaign Dollars Corurpting Washington DC. 5) The US Political System.
6) The Western Global Banking Systems including national central banks and international stability and bailout mechanisms.
7) It is too Expensive for Regulatory Agencies to Sue Corporations.
8) It is too Expensive for "Main Street" or the "99%" to Sue the Federal Government, it's agencies, and the Corporations.

Takes Money to File Lawsuits. Most US Citizens are deprived of the court system due to liabiltiy and cost. Mostly I mean if I had $110K Dollars - I still wouldn't have enough dough to feel comfortable filing a lawsuit against a big Wall Street Bank or any other big Entity either public or private.

Maybe I am Risk Averse. Maybe I'm unusual. But I can't see anyone I know suing the US Government or Suing corporations (which by defintion have deep pockets of money and lawyers on staff).

I SAY it takes over $2 Million Dollars of Wealth to allow you to consider a Lawsuit against the US Government or a Corporation.

Therefore, Most US Citizens are deprived of the court system due to liabiltiy and cost.

And we know Banks repeat violations of regulations because they only pay fines or settle government lawsuits from regulators with small percentages of money that they received through questionable or fraudulent behavior.



Russia has reached a settlement with Bank of New York Mellon over a $22.5 billion lawsuit against the bank stemming from a 1990s money laundering scheme by one of its executives, Finance Minister Alexei Kudrin said Wednesday.






BCCI came under the scrutiny of numerous financial regulators and intelligence agencies in the 1980s due to concerns that it was poorly regulated. Subsequent investigations revealed that it was involved in massive money laundering and other financial crimes, and illegally gained controlling interest in a major American bank. BCCI became the focus of a massive regulatory battle in 1991 and on July 5 of that year customs and bank regulators in seven countries raided and locked down records of its branch offices.[4]



Clearstream has been criticized for allowing banks to move money undetected and has been accused of involvements in a number of cases involving money laundering and tax evasion. Two notable cases have become known as the Clearstream Affair which started with the release of the book Révélation$ in 2001 by the investigative reporter Denis Robert and ex-Clearstream banker Ernest Backes and the Second Clearstream Affair which started in 2004 when anonymous denunciations were sent to magistrate Renaud Van Ruymbeke accusing a number of major French political figures of having received kickbacks.


James N. Fiedler, Esq.
Managing Partner
Spire Law Group, LLP


Press Release
April 23, 2012, 12:01 a.m. EDT
© Marketwire 2012

NEW YORK, NY, Apr 23, 2012 (MARKETWIRE via COMTEX) — In a lawsuit alleged to involve the largest money laundering network in United States history, Spire Law Group, LLP — on behalf of home owners across the Country — has filed a mass tort action in the Supreme Court of New York, County of Kings. Home owners across the country have sued every major bank servicer and their subsidiaries — formed in countries known as havens for money laundering such as the Cayman Islands, the Isle of Man, Luxembourg and Malaysia — alleging that while the Obama Administration was publicly encouraging loan modifications for home owners, it was privately ratifying the formation of these shell companies in violation of the United States Patriot Act, and State and Federal law.

The case further alleges that through these obscure foreign companies, Bank of America, J.P. Morgan, Wells Fargo Bank, Citibank, Citigroup, One West Bank, and numerous other federally chartered banks stole hundreds of millions of dollars of home owners’ money during the last decade and then laundered it through offshore companies. The complaint, Index No. 500827, was filed by Spire Law Group, LLP, and several of the Firm’s affiliates and partners across the United States.

Far from being ambiguous, this is a complaint that “names names.” Indeed, the lawsuit identifies specific companies and the offshore countries used...

The United States (US) Financial Industry Regulatory Authority (FINRA) has issued a Letter of Acceptance, Waiver and Consent (22 May 2012), fining Newport Coast Securities Inc (Newport) US$100,000 for failing to maintain a proper anti-money laundering (AML) compliance program and establish and implement policies, procedures, and internal controls reasonably designed to detect and report suspicious transactions, between 2008 and 2010. According to FINRA, Newport has accepted and consented to the fine without admitting or denying FINRA's findings. (Source: FINRA)

The United States (US) Financial Industry Regulatory Authority (FINRA) has issued a Letter of Acceptance, Waiver and Consent (23 May 2012) against investment advisors Mahler & Emerson, fining the firm US$10,000 for failing to conduct independent testing of its anti-money laundering (AML) program between 2006 and 2010 and for failing to maintain an adequate system to preserve the firm's email correspondence. According to FINRA, Mahler & Emerson has accepted and consented to the fine without admitting or denying FINRA's findings. (Source: FINRA)

Western Union representatives are suspected of having helped move tens of millions of dollars in drug money out of Australia in the last five years. Investigations by the Australian Federal Police and the Australian Crime Commission reportedly discovered that money remitters, including Western Union sub-agents, wired suspected drug money offshore.

The Reserve Bank of India (RBI) has announced that it has imposed a fine of Rupees five lakh (approximately €7,700/US$11,000) on Shreenath Co-operative Bank Ltd, for violating the RBI's instructions on Know Your Customers norms and the AML guidelines.

The RBI has also announced that it has imposed a fine of Rupees one lakh (approximately €1,600/US$2,200) on the Municipal Co-operative Bank Ltd, for violating the RBI's instructions on Know Your Customer norms and for unsecured advances observed during the bank's inspection on 31 March 2010.

Lawsuits too expensive for Avg Voter to Sue Government or Corporation, and prevents federal Regulation of Corporations



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[-] 2 points by atki4564 (1259) from Lake Placid, FL 10 years ago

True, we will not have a strong economy if we do not have a buying public that does not have to rely on predatory lending, regulatory, and legal practices to participate in it, so we need a new constitution for new times, as follows:

We the peoples, in order to secure Freedom and Justice for All, do enact this Constitution for Strategic International Systems LLC (or SIS LLC) as summarized in the following Business Operations Forecast:

The customer value mission of SIS LLC is (1) to organize all customer-investors into 3,000 investment squad sites of 16 friends (or virtual specialties), and related internet investment legislatures of 50,000 friends (or virtual towns), requiring (2) a $20 weekly capital contribution for 1 year (or $1,000) to (3) create your investment club bank of 50,000 friends (or physical town) -- that is, having $50 million in initial assets -- which (4) due to the operation of today’s fractional banking system becomes (5) $500 million in new annual business loans (or $10,000 in new annual individual loans) from yourself as a new bank officer to yourself as a new business officer who (6) takes 75% employee business control as business officer-investors and 25% customer business control as bank officer-investors of (7) your specific 12 businesses (or investments) in your new bank investment account wherein (8) your investor voting power equals (9) your 1 of 12 levels of experience in (10) your 1 of 12 sectors in 1 of 50 industries in 1 of 200 occupations in 1 of 3,000 specialities which (11) votes-upon your purchasing (or investment) orders as (12) proposed by your employee-elected chain of command.

This means you will have 75% employee business control over your workplace as business officers and, as bank officers, 25% customer business control over all 12 investments (or businesses) in your new bank investment account. In turn, with this 100% town-level business control of your 3,000 workplaces, you can decrease your 12 customer consumption expenses by 75% for services, vehicles, education, retail, food, construction, technology, manufacturing, wholesale, health, justice, and banking expenses; that is, over your first 12 years of SIS LLC membership using a 75% more effective and efficient town design, and related 3,000 workplace designs (herein). Furthermore, while creating your new town & workplace design as described by this constitution, you will replace today’s communist big businesses, and related big governments, with your new small investment club banks, and related small businesses (or investments), as proposed, financed, and patronized by your 3,000 investment squad sites of 16 friends (or virtual specialties) in your internet investment legislature of 50,000 friends (or virtual town).

Why? First, because today’s executive business income (mostly from bank or financial asset income) is 33% of all income which is a huge amount of upper 1% income to split among yourselves as new bank officers having 25% customer business control, right? Second, because today’s executive business wealth is 42% of all wealth which is a huge amount of upper 1% wealth to split among yourselves as new business officers having 75% employee business control; that is, only after becoming new bank officers (above) first, right?

For example, this means if you earn $12/hour today, then you will earn $36/hour tomorrow after adding (1) your old wage income, plus (2) your 33% (more and new) interest income as a new bank officer, plus (3) your 42% (more and new) dividend & gain income as a new business officer. Together, these 4 sources of wealth & income from your specific 12 businesses (or investments) will double your net worth every 6-12 years (until retirement); that is, from the compound interest decline of today's upper 1% executives whom you will replace as the new bank & business investor-officers. So, with this power, let’s end today’s communist big businesses, and related big governments, okay? How? By helping to operate your own Business Operations Forecast (above) at http://finance.groups.yahoo.com/group/StrategicInternationalSystems/ ; so help us help you, today!

[-] 0 points by MattHolck2 (44) 10 years ago

not following

[-] 1 points by atki4564 (1259) from Lake Placid, FL 10 years ago

Something specific you don't understand? For example?

[-] 1 points by MattHolck2 (44) 10 years ago

columnate and explain you numbers in a non paragraph format

  • use list
  • by placing a plus sign with a space at the front of a line


[-] 1 points by atki4564 (1259) from Lake Placid, FL 10 years ago

That's an interesting avoidance of my question to you: What is it you don't understand, specifically? Why? Because I've been very specific in my explanation, so I expect you to be specific as well, okay? So again, what sentence do you not understand?

[-] 1 points by MattHolck2 (44) 10 years ago

clarify your presentation

[-] 1 points by atki4564 (1259) from Lake Placid, FL 10 years ago

The presentation is very clear mathematically, you just can't read math, but perhaps the full proposal will help you understand the math at: https://docs.google.com/a/strategicinternationalsystems.com/document/pub?id=1mKKLMTIyvRCLK2ppPj_GDjdieCvJnATaZaCmlajubWU

[-] 1 points by LeoYo (5909) 10 years ago

How the US Government, Banks, Prison-Industrial Complex, Corrupt Officials, Businesses, Law Enforcement, Racists and the CIA Profit From Illegal Drugs

Friday, 22 June 2012 13:49 By Mark Karlin, Truthout | News Analysis

US Banks Love Real Dollars, and Illegal Drug Money Comes in Cash

A recent article in The Guardian UK offers evidence that "while cocaine production ravages countries in Central America, consumers in the US and Europe are helping developed economies grow rich from the profits."

According to The Guardian UK story, the study by two Colombian professors found that "2.6% of the total street value of cocaine produced remains within the country [Columbia], while a staggering 97.4% of profits are reaped by criminal syndicates and laundered by banks, in first-world consuming countries."

One of the researchers, Alejandro Gaviria said: "We know that authorities in the US and UK know far more than they act upon. The authorities realize things about certain people they think are moving money for the drug trade - but the DEA [US Drug Enforcement Administration] only acts on a fraction of what it knows."

"It's taboo to go after the big banks," added Gaviria's co-researcher Daniel Mejía. "It's political suicide in this economic climate, because the amounts of money recycled are so high."

Since Wachovia Bank (now owned by Wells Fargo) was levied a fine in 2010 (but no criminal charges) for money laundering hundreds of millions (perhaps billions) of illegal drug cartel dollars, there does not appear to be any large crackdown on the practice in the United States, although lip service is often given to coming down hard on money laundering.

Indeed, more than one analyst has speculated that the billions of dollars in drug cash are vitally important to US banks because so many of their financial assets are tied up in non-fluid assets.


[-] 1 points by Middleaged (5140) 10 years ago

Yeah, nice fit with the topic. I passed this article around 2 weeks ago. But I forgot the piece about US authorities knowing about the extent and doing nothing about it.

It is like we know there are Slave and Child Labor sweat shops making Textiles for the US Market and that these have eliminated US Jobs, .... But congress doesn't do anything to monitor, locate, stop, to punish the countries and companies that use slave labor.

Selective Governance. Don't prosecute Fraud, Don't regulate fraudulent banks, Don't investigate underfunded pension funds, don't investigate policies and persons that lost money in US Pension Fund Acccounts, Don't worry about charging 8% on Student loans while the lending rate is at all time low, Don't worry that there is little lending to small businesses going on in a recession....

Obama is Blind, Congress is Blind, what the hell are they doing borrowing money at Interest from banks they bailed out ???

[-] 1 points by LeoYo (5909) 10 years ago

"And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."

Thomas Jefferson in a letter to John Taylor dated May 28, 1816 http://occupywallst.org/forum/free-democracy-amendment/#comment-756693

[-] 1 points by Middleaged (5140) 10 years ago

Yes, this dove tails to Bill Still Video "The Secret of OZ". I just saw the quote that Tom Jefferson and Tom Edison beleive borrowing money and banks were a threat. (I think) I don't really know the origins, primary sources for the quotes.