LOST: Looking for the Canons of Judicial Ethics

Judicial misconduct is a touchy subject.

judicial misconduct

But what else do you call it when judges violate their own canons and participate in unethical decisions that may create financial gains in their investment portfolios?

While this post deals with the failure of the judiciary to sua sponte recuse themselves when they know there is more than an appearance of impropriety, it also raises the question of what potential benefit they may received as a result of their decisions – and is that taken into consideration at any time during the case? Continue reading

Chris Whalen: The Fallacy of “Too Big To Fail”–Why the Big Banks Will Eventually Break Up

Jim Puplava is Author & Host of Financial Sense & Financial Sense Newshour providing weekly broadcasts and writing thought-provoking commentary for Financial Sense Online in addition to interviews with top financial thinkers.
In a riveting interview on the banking industry, Christopher Whalen of Tangent Capital Partners in New York joins Jim on Financial Sense Newshour to discuss the fallacy of “too big to fail,” conflicts of interest in the derivatives markets, problems with the 2005 bankruptcy laws, and political failures, policies and programs.

Chris Whalen elaborates on the present economic situation and why we are not seeing the changes Americans expect.   Continue reading

Obama Adds Insult to Injury – a “Sweetheart Deal” (no prison) for the banks!

MONDAY, JANUARY 23, 2012

Rumor has it that in a matter of days, after months of negotiation with big banks, the White House may announce a settlement that would let the banks off the hook for their role in the foreclosure crisis — paying a tiny fraction of what’s needed in exchange for blanket immunity from future lawsuits. If this happens will we ever be able to trust him again?

Gathered here are three excellent presentations from this weekend… Continue reading

STOP Justice Department officials – Sign Resolution Against Wall Street Immunity

Top Justice Department officials are pushing hard to bring the Wall Street immunity deal back from the dead. Can you sign on as a citizen signer of Baldwin’s resolution against Wall Street immunity? Click here to sign.

Fortunately, Rep. Tammy Baldwin (D-Wisconsin) leaped into action with a congressional resolution opposing Wall Street immunity.

Within days, 27 of her colleagues signed on — and the more co-sponsors we get, the more pressure the Justice Department will feel to back off.

Continue reading

Wall Street reform also must address the powerful and secretive Federal Reserve

Sen. Bernie Sanders (I-Vt.), 03/28/11. (photo:  Getty Images)
Sen. Bernie Sanders (I-Vt.), 03/28/11. (photo: Getty Images)

Wall Street Protests: A Good Place to Start
By Sen. Bernie Sanders, The Boston Globe
07 October 11

he protest movement called Occupy Wall Street has struck a nerve. The demonstrators’ goals may be vague, but their grievances are very real. If our country is to break out of this horrendous recession and create the millions of jobs we desperately need, if we are going to create a financially-stable future, we must take a hard look at Wall Street and demand fundamental reforms. I hope the protesters provide the spark that ignites that process.

The truth is that millions of Americans Continue reading

Part I – The Elites will Eat Their Own: Full-Blown Civil War Erupts On Wall Street

Full-Blown Civil War Erupts On Wall Street: As Reality Finally Hits The Financial Elite, They Start Turning On Each Other

By David DeGraw

Full-Blown Civil War Erupts On Wall Street: As Reality Finally Hits The Financial Elite, They Turn On Each OtherFinally, after trillions in fraudulent activity, trillions in bailouts, trillions in printed money, billions in political bribing and billions in bonuses, the criminal cartel members on Wall Street are beginning to get what they deserve. As the Eurozone is coming apart at the seams and as the US economy grinds to a halt, the financial elite are starting to turn on each other. The lawsuits are piling up fast. Here’s an extensive roundup: Continue reading

Hats Off to Bernie and the Gang: First Federal Reserve Audit Reveals Trillions in Secret Bailouts

By Matthew Cardinale, Inter Press Service
29 August 11

he first-ever audit of the US Federal Reserve has revealed $16 trillion dollars in secret bank bailouts and has raised more questions about the quasi-private agency’s opaque operations.  “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else,” US Senator Bernie Sanders, an Independent from Vermont, said in a statement.

Continue reading

2nd Loans, 2nd Wave of Losses

Gretchen Morgenson is one of the more astute journalists in our country writing with insight for the NY Times about Wall Street and foreclosure frauds.  First thing this morning I was alerted to her latest article calling attention to the fact that the banks may be misrepresenting their profits (ya think? – I’m shocked).  I’m wondering about the rest of the expenses the banks don’t seem to be paying or claiming on their books – like insurance, HOA fees, taxes, maintenance… these are sizable figures and no one seems to be making them accountable.

FAIR GAME
2nd Loans, 2nd Wave of Losses
GRETCHEN MORGENSON
Published: July 16, 2011

HAVE you heard the good news? Big banks are making more money than we thought.

On Thursday, JPMorgan Chase said it earned $5.4 billion during the second quarter. On Friday, Citigroup said it earned $3.3 billion. Continue reading

RSN Elizabeth Warren: A Real Probe Needed on Foreclosure Abuses

Readers Support Network – Amen!

Elizabeth Warren: A Real Probe Needed on Foreclosure Abuses
By Shahien Nasiripour, Huffington Post

15 July 11Prof. Elizabeth Warren, chairman of the Consumer Financial Protection Bureau set up to oversee the TARP program, 04/21/09. (photo: Tim Sloan/AFP)

A top Obama administration official on Thursday questioned the scope of the state and federal investigations into alleged mortgage abuses and “illegal” foreclosures perpetrated by the nation’s largest mortgage companies, marking the first time a senior White House official publicly broke ranks with the administration over the issue and raising fresh questions about the wisdom of the government’s rush to settle with the firms.

Elizabeth Warren, a senior adviser to President Barack Obama and Treasury Secretary Timothy Geithner, told a congressional panel that government agencies may not have sufficiently investigated claims that borrowers’ homes were illegally seized by banks such as JPMorgan Chase, Bank of America, Wells Fargo, Citigroup and Ally Financial. Continue reading