As reported by Reuters on 01-23-12,

According to past reports of the settlement talks, the banks — Bank of America (BAC.N), Wells Fargo & Co (WFC.N), JPMorgan Chase & Co (JPM.N), Citigroup (C.N) and Ally Financial Inc (GKM.N) — would provide $20 billion to $25 billion of relief to homeowners in exchange for being allowed to put behind them potential government lawsuits about improper foreclosures and abuses in originating and servicing mortgage loans.

The Federal Government, in typical corrupt fashion, refuses to prosecute major players in the U.S. mortgage meltdown and instead decided to take their cut in the deal by handing out wrist slaps and fines.

“Instead of criminal prosecutions, we are talking about not much more than a slap on the wrist,” Senator Sherrod Brown of Ohio said. “In many ways, Wall Street isn’t just too big to fail, it’s also too big to jail.”

Of course, this favorable Federal Government action has prompted other mortgage fraudsters to come out to accept the deal.

In another sign negotiators were close to a deal, three regional banks signaled they had begun talks to also enter the settlement.

Two of the regional banks, PNC (PNC.N) and US Bancorp (USB.N), reported a total of $370 million in mortgage-related expenses, and a third, SunTrust (STI.N), said the discussions were at a preliminary stage and it could not yet estimate any financial impact.

All of this brings me the point I’d like to make regarding the system put in place by our Federal Government bureaucrats to plunder tax dollars in the name of justice. Unfortunately, it’s not criminal justice.

————————————————

Ok, my house is worth less that what I paid for it. Underwater, if you will. Will my county government reduce the assessment value to show the true value of the home, therefore reducing my property taxes to a representative amount of the house’s worth? No. Is this my fault? No. Is the deflated worth of my house a result of the mortgage-related fraud designed by corporate-sponsored legislative action? Yes. Is the government primarily responsible for the mortgage meltdown? Yes. Will individual politicians or bureaucrats within our Federal Government ever be criminally charged for the U.S. mortgage meltdown? No. Will any major banking, finance, or mortgage-related “for profit” entity ever be held criminally liable for the mortgage meltdown? No.

Every bit player in this mortgage fraud has the ability to lay blame with government because there is very little, if any, personal responsibility taken for any fraud, corruption, or incompetence within the U.S. Federal Government. When laws are corporate-sponsored and elected officials are corporate sponsored, do you expect the Federal Government to pursue criminal charges against those “for-profit” corporations running our Federal Government? No.
Read the rest of this entry

 

While this is a no-brainer, I can only imagine this will end up in the same place the “Audit The Fed” bill did. Why the heck are Americans paying to print our own fiat currency. Please share your opinion in support or opposition of this legislation.

The bill can be found here at Thomas.gov, but the text has not been made available yet.

 

Please keep passing this on to everyone you know.

Just a reminder that the Federal Reserve Bank and, for that matter, all central banking, is an enemy of America’s financial stability. The assault continues as The Fed seems to be licking its chops over the prospect of initiating QE3.  Just a reminder of what happens to those criticizing the Fed against the wishes of the financial, media, and government elite – You are labelled a KOOK. So here the latest and greatest regarding the financial terrorist outfit that is hell bent on undermining American prosperity and freedom.

The Probability of More Quantitative Easing

Economy Improving To Due Credit Expansion of GM Sub-prime Car Loans and Student Loans

Today’s Federal Government Has Become The King George Americans Rejected In The 1700’s

Federal Reserve Increases Treasury Securities Purchases As They Hope To Inflate America Into Prosperity

Utah Bill De-criminalizes Recognizes Gold As Money and Removes Punitive State Capital Gains Taxes and Sales Taxes

GOP’s Shelby Roughs Up Fed Nominee Diamond – He’s An “old-fashioned” Keynesian Supporter Of Big Government

King Bernanke Leading Federal Reserve Destructive Inflationary Policies

Federal Reserve Most Accommodating For Loans To Companies With Terrible Credit – Not Consumers with Good Credit

Dallas Federal Reserves States Prosperity Will Come By Offering More Green Cards

World’s Biggest Bond Fund Dumps All U.S. Treasuries

Federal Reserve Excited About Rising Oil Prices As It Increases Chances For QE3

U.S. Corporate Cash Levels At Record Levels – Hoarding But Not Hiring

Federal Reserve Economist Says Americans Need To Be Kept In Dark About Monetary Policy

Federal Reserve Report – Everything Is Peachy Here In America

Ron Paul Was Right: Will GOP Voters Care?

Foreign Federal Reserve Economist – You’re A Pinhead If You Disagree With The Federal Reserve

Herbert Hoover As The Last True Conservative President – Told Americans That It Was Not The Responsibility Of The National Government To Solve All Their Problems

As the issue of monetary policy reform discussions surface in the current Congress, the statist Progressive pro- Keynesian elitist shill Paul Krugman tends to his sheeple-herding duties. Brought to you by the NY Times, of course.

Wednesday’s hearings aren’t likely to have any immediate effect on monetary policy. But they offer a revealing — and appalling — look at the mind-set of one of our two major political parties. We’ve always known that the modern G.O.P. wants to take America back to the way it was before the New Deal; but now it’s clear that the party wants to build a bridge to the 19th century, and maybe even to the antebellum era. Backward, march!

As reported from businessweek.com this week:

Monetary Policy: Fed Critic Ron Paul’s Power Play describes the aspirations of Ron Paul to be elected to the House panel on monetary policy and efforts of the Neo-cons to keep him from it. Ron Paul is probably the greatest Statesman in the U.S. Congress. His foundation in politics is based on sound Constitutional principles. Unfortunately, that doesn’t sit well with moneyed-interest career politicians that are hell bent on rendering Congress irrelevant.  Seeing that the voice of government is supposed to originate from the people, this line of Congressional dereliction basically eliminates the peoples ability to effect changes in Washington. As Dr. Paul and other liberty-loving Americans continue to get marginalized by the corrupt GOP machine, it does so at its own peril. This article is just another example of Washington’s obfuscating political dinosaurs trying to play defense for the financial, corporate, and political elite.

Retiring New Hampshire Senator Judd Gregg, one of the Federal Reserve’s most stalwart Republican supporters, showed up for a meeting at the central bank in November bearing a surprising gift: a box of End the Fed books. As he handed out the 2009 best seller by Representative Ron Paul, a longtime Fed critic, Gregg told the gathering it would be worth reading to see what the other side is plotting.

Gregg reveals what many of us have always suspected: The Federal Reserve is not on the side of average Americans. The Federal Reserve is an unaccountable quasi-governmental agency that, while claiming a mandate to produce employment and fight inflationary/deflationary cycles, operates primarily to benefit its members and other moneyed interests around the globe.

…landing the chairmanship of the House Financial Services Committee panel that oversees monetary policy—a job that will give him the power to push legislation reining in the central bank and to haul Fed governors up to Capitol Hill for hearings.

The claim that politicizing the Fed would be detrimental to monetary policy by allowing partisan politics to leech into policy issues is a bogus claim. The people have spoken and want to know how the Fed is actually undermining American citizens’ economic interest for the benefit of of their member banks, large corporations, and other countries’ Central Banks.

The prospect has Wall Street, Fed officials, and even Republican House leaders worried that Paul’s agenda could roil the markets and make a mockery of the U.S. financial system…Officials at several major banks have privately raised concerns with Republican leaders that, by allowing Paul to become a chairman, his radical views would gain legitimacy, according to three bank lobbyists.

What they really mean is they don’t want people to realize how the Fed has gamed the U.S. financial system and show that the banking system in the U.S. is barely solvent and is being propped up to instill consumer confidence. If the people knew the real situation of our corrupt banking system, they would demand changes to allow for more accountability and transparency. They would probably demand a new system of banking or perhaps demand that competing currencies be allowed in the U.S. to take away the monopoly the Fed has on our money supply.

If he gets the subcommittee gavel, Paul says he plans a thorough review of Fed policy.

I think Ron Paul could make more progress on this issue than anyone, but still would have to overcome Fed stonewalling to avail itself for requested data. Remember what roadblocks they have erected regarding numerous FOIA requests they fail to comply with in order to keep their operations’ information secret.

“There has been a politically cozy relationship between Congress and the Federal Reserve,” he says. That includes past efforts to keep him from heading the subcommittee. “Republican leadership, with the Fed’s influence, has been working to keep me away from this for a long time.

Hopefully, as more of the Neo-Con, Fed apologists type political figures get fired and replaced by Statesmen, the roadblocks consistently thrown at Paul will be torn down and Americans will see how corrupt our banking system is.

Five GOP leadership aides, speaking anonymously because a decision isn’t final, say incoming House Speaker John Boehner has discussed ways to prevent Paul from becoming chairman…

There is not much to explain here except that, “the beat goes on”-“same as it ever was” days of Congressional corruption will come to an end. Maybe it will take a couple of extra election cycles to remove these Congressional traitors, but it will get done. These non-Statesman, career politicians all need to go, so keep shining the light on the dark side of the Congressional aisle and eventually the rats will have no where to run but for the exits.

Boehner is your typical country club-minded elitist trash that needs to be thrown to the curb. Please help clean this litter from our Congressional halls.