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NEWS AND VIEWS THAT IMPACT LIMITED CONSTITUTIONAL GOVERNMENT

"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Friday, December 16, 2011

The Rape of America

The well connected Elite do not need this card.
Few of the Elite ever see the inside of a jail cell.  They can buy all their friends they need in politics to protect them from going to jail.  They pay a fine and go back to their home in the Hamptons.

Crony Capitalism
Hundreds of billions in real estate loan fraud, bank failures, millions of home foreclosures and no one goes to jail


By Gary;

Let's get to the bottom line.  There are two sets of laws.  One for the well connected Elite and another for the rest of us.

If an average Joe seals $500 from a liquor store they go to jail.  But if you of the Elite and defraud people of billions of dollars you pay a minor fine and go to your house in the Hamptons.

Attorneys General from both political parties do not file criminal charges against the Elite criminal class.  Only civil actions with easily paid fines are pursued.  No one goes to jail because both political parties are fully bought and paid for by the Elite.  Plus the taxpayers have to pick up the tab to bail out the failing companies.
Attorneys General from both parties
never file criminal charges.  The Elite
protect each other.


Now comes the latest bull shit cover-up with Washington Mutual.

Three executives who led high-risk home lender Washington Mutual Bank as it skidded toward the biggest bank failure in U.S. history have agreed to settle a government lawsuit for as much as $64 million — far from the $900 million the Federal Deposit Insurance Corp. had sought.

The settlement with Washington Mutual's longtime chief executive, Kerry Killinger, and top aides Stephen Rotella and David Schneider is not final yet. But FDIC officials said it could be filed by next week in U.S. District Court in Seattle, where WaMu was based.

Proceeds were to be added to $125 million that bankrupt parent company Washington Mutual Inc. has agreed to pay to settle a separate FDIC lawsuit targeting 12 WaMu independent directors. The funds will be distributed to creditors through the U.S. Bankruptcy Court in Delaware.

Settlement details weren't released, but the FDIC said Tuesday that the defendants would pay relatively little out of pocket.

Most of the recovery was expected from an insurance policy covering negligence by officers.

(Reuters)

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