Raise A Ruckus!

 As we’ve noted for years, the entire strategy of Washington towards the economy is to cover up the fraud which caused the financial crisis … even though prosecuting fraud and re-establishing the rule of law is the only way to get out of this depression.

One major front in Washington’s cover-up effort has been to settle fraud cases with the big banks for pennies on the dollar. This is a backdoor bailout for the banks, encourages them to commit more fraud, and fails to plug the basic holes in the economy which are preventing a recovery.

Why are we bringing this up now?

Because Obama is making a giant push to pressure the states attorneys general to settle all of their mortgage-related fraud claims against the banks for pennies on the dollar.
Yves Smith – who has an ear to the ground on this – warns that a settlement which hurts consumers and the economy will happen very quickly if people don’t raise a ruckus.

http://www.blacklistednews.com/Obama_Pushes_Hard_to_Protect_Big_Banks_from_Fraud_Prosecutions/17491/0/38/38/Y/M.html

And know this while you raise the ruckus:

U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department’s criminal division [watch this to get a sense of Breuer], were partners for years at a Washington law firm that represented a Who’s Who of big banks and other companies at the center of alleged foreclosure fraud, a Reuters inquiry shows.

http://www.washingtonsblog.com/2012/01/is-this-why-they-wont-prosecute-top-justice-officials-represented-big-banks.html

Why raise a ruckus?

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