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CFPB issues proposed rule on forced arbitration clauses that ban class actions
by Deepak Gupta
Posted May 9, 2016

Forced arbitration clausesThe CFPB has just released its much-awaited proposed rule on forced arbitration clauses — arguably the single biggest step the Bureau can take to level the playing field for American consumers.

If adopted after notice-and-comment, the CFPB’s new rule would prohibit forced arbitration clauses that prevent consumers from banding together to hold companies accountable in court, effectively nullifying the impact of the Supreme Court’s AT&T Mobility v. Concepcion decision in the market for consumer financial services. The proposed rule would also require companies with arbitration clauses to send the CFPB the claims, awards, and other information filed in arbitration cases, to allow the Bureau to monitor what until now has largely been a secret system of corporate tribunals. More…

If this proposed rule is adopted, it will be a HUGE step in restoring consumer rights in a legal environment that has been almost completely co-opted by the trans-national corporations.

‘Seriously Sinister’: Foremost Bank Whistleblower Says CIA Behind Panama Papers

‘Seriously Sinister’: Foremost Bank Whistleblower Says CIA Behind Panama Papers
by Lauren McCauley
Posted May 3, 2016

Panama papers were CIA leakWhile many observers have questioned why the Panama Papers leak has largely focused on the economic corruption of obstensible U.S. adversaries, such as associates of Russian President Vladimir Putin and relatives of Syrian President Bashar al-Assad, a notable tax evasion whistleblower has come forward with what he believes is a plausible answer.

“The CIA I’m sure is behind this, in my opinion,” said former UBS banker Bradley Birkenfeld, who in 2005 blew the whistle on the Swiss banking giant, which lead to a U.S. government investigation into massive fraud and bank-enabled tax evasion. More…

State-Sanctioned Theft – The Failed War On Drugs And Cops’ Abuse Of Civil Forfeiture

State-Sanctioned Theft – The Failed War On Drugs And Cops’ Abuse Of Civil Forfeiture
by Lorelei McFly
Posted May 2016

Hillary and Trump share same Delaware tax haven addressOne of the biggest lies our government tells us is that it wages the War on Drugs to keep us safe. More than 40 years after it was started, we know that it has been a colossally-expensive epic failure on its stated goals, was intentionally designed to further disenfranchise marginalized groups, and has become a full-fledged assault on our civil liberties.

Even with all the billions of tax dollars it spends each year, and all the flashy photo ops of seized drugs stacked on tables, the Drug Enforcement Agency only stops 1% of the illegal drug supply from being distributed in America, according to the video below. Not only is law enforcement pathetically inept at stemming the flow of drugs, they are active participants in the illicit drug trade at both the federal and local level: …. More..

LuxLeaks Whistleblowers on Trial For Revealing Tax Avoidance Schemes

LuxLeaks Whistleblowers on Trial For Revealing Tax Avoidance Schemes
By Andrew Emett
Posted April 27, 2016

Luxembourg leaksInfamous for exposing the multi-billion dollar tax avoidance scandal known as the Luxembourg Leaks, or LuxLeaks, two whistleblowers and a journalist began trial on Tuesday for allegedly violating trade secrets and other theft charges. Although Transparency International has called for a dismissal of their case, Luxembourg does not consider the defendants to be whistleblowers.

Despite the fact that the LuxLeaks scandal was the largest exposure of corporate tax evasion documents prior to the Panama Papers, the government of Luxembourg does not recognize Deltour and Halet as whistleblowers, nor does it recognize Perrin’s journalistic freedom. In a recent statement, Transparency International wrote, “Under the Luxembourg law, Deltour is not considered a whistleblower because the legislation is limited to corruption offenses. In addition, it only protects whistleblowers against dismissal, not against prosecution. More…

Days After Wells Fargo Admits Defrauding The Government, NY Fed Rewards It With Primary Dealer Status

Days After Wells Fargo Admits Defrauding The Government, NY Fed Rewards It With Primary Dealer Status
by Zero Hedge
Posted April 23, 2016

no justice in the U.S.Back on April 9 we described the latest example of how criminal Wall Street behavior leads to zero prison time and just more slaps on the wrist, when Warren Buffett’s favorite bank, Wells Fargo, admitted to “deceiving” the U.S. government into insuring thousands of risky mortgages. According to the settlement, Wells Fargo “admits, acknowledges, and accepts responsibility” for having from 2001 to 2008 falsely certified that many of its home loans qualified for Federal Housing Administration insurance.

In short: it admitted that is deceived and defrauded the government. Its “punishment” – a $1.2 billion settlement of a U.S. Department of Justice lawsuit, the highest ever levied in a housing-related matter.

And now, having suffered so much trauma which led to precisely nobody going to prison, less than two weeks later it’s time for Wells to get its reward: as Bloomberg reported earlier, the “bond market’s most exclusive clubs got a new member” when the NY Fed granted the criminal Wells Fargo Primary Dealer status. More…

Bankers Above The Law; The Veneer Of Justice In A Kingdom Of Crime

Bankers Above The Law; The Veneer Of Justice In A Kingdom Of Crime
by John Titus
Posted March 26, 2016

veneer of justiceThe criminal global banking cartel has effected a coup d’etat in the U.S. This is why the same criminal financial elite that saw 1000 of its members go to prison 20 years ago (after the S&L crisis) is now above the law.”

To date, the question of why the U.S. Department of Justice has failed to prosecute even one too-big-to-fail bank for the pervasive criminal frauds that drove the multi-trillion-dollar economic meltdown of 2008 has been answered pretty much with shrugs. The DOJ never truly investigated Wall Street crime due largely to the so-called collateral consequences doctrine—really explains how rather than why prosecutions have been scuttled. More…

JPM Announces $1.9 Billion Buyback One Month After CEO Jamie Dimon Buys 500,000 Shares In The Open Market

JPM Announces $1.9 Billion Buyback One Month After CEO Jamie Dimon Buys 500,000 Shares In The Open Market
by Zero Hedge
Posted Match 20, 2016

Jamie Dimon to Congress: "I own you"On February 12, Jamie Dimon made headlines when he bought 500,000 shares, or some $26 million worth of JPM stock which coming one day after the market hit its lowest point in the recent selloff, has become known as the “Dimon Bottom.” Was it just good timing or was there something more to the purchase some wondered. As it turns out the purchase may have been nothing more than Jamie frontrunning his own company’s multi-billion buyback, because as JPM announced moments ago, the company of which he is a CEO, just authorized the repurchase of an additional $1.9 billion in stock over the next three months, thereby assuring CEO Jamie of an even great profits on his recent acquisition.

And now the legal question: did Dimon have knowledge that JPMorgan would conduct this buyback just one month ago when he purchased JPM stock in the open market to make a “statement.” We doubt any regulators will ask this obvious question as even if he did, it will surely be chalked up to merely just another “tempest in a teacup.” More…

We are certain that he knew nothing about the buyback until he read it in the news. What a meritocracy we live in.

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Great story on why we need to remove ALL of our elected government representatives

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