Posts Tagged ‘did Wall Street violate the racketeering act’
Posted by Larry Doyle on May 10th, 2012 5:32 AM |
A little over a year ago I became aware of robo-signing within the mortgage servicing industry and broached the topic that the activity likely rose to a level of racketeering. I aggressively questioned, Did Wall Street Violate the Racketeering Act?
Believing that the activity did likely rise to a level of racketeering, I recommended that attorneys general should pursue institutions involved in these fraudulent and abusive practices with a RICO action.
Well, it appears that somebody is now doing just that with specific focus on activities that transpired at Bank of America and MERS (Mortgage Electronic Registration System). (more…)
Tags: Angelo Mozilo, Dave Angle Missouri Attorney general, did Wall Street violate RICO Act, did Wall Street violate the racketeering act, Dirma Rodriguez, Eric Holder, how to define racketeering, illegal foreclosures, Larry Anderson, Louise Davidson of Loma Colorado, Mark Malone New Jersey prosecutor, MERS, mortgage electronic registration system, mortgage fraud, mortgage settlement, racketeering charges against BofA and MERS, racketeering on Wall Street, RICO Act, RICO violation on Wall Street, robo-signing, robosigning, securities fraud, what is MERS
Posted in financial frauds, fraud, General, Mortgage Crisis, Mortgages | 1 Comment »
Posted by Larry Doyle on September 7th, 2011 11:05 AM |
Having traversed a wide part of the country over the last three weeks, I would have hoped that my first post back here at Sense on Cents would encompass a sense of vim and vigor that may electrify those reading this.
Sorry to disappoint but the simple fact is the recent developments along our economic and market landscape do not strike me as energizing or as anything new.
The daily swings in the markets may be unnerving but they strike me as merely a reflection of the fact that the “walking pneumonia” which defines our domestic economy—and many parts of the global economy as well—is settling ever deeper into our lungs. (more…)
Tags: did Wall Street violate the racketeering act, economic and market updates september 2011, Federal Reserve policy of the twist, jimmy hoffa barack obama promoting class warfare, jimmy hoffa labor day comments, mortgage suit against banks, pursuit of the truth, Sense on Cents, the more things change the more they stay the same, what is new with the economy september 2011
Posted in General | 10 Comments »
Posted by Larry Doyle on May 13th, 2011 8:58 AM |
(This is a long commentary, but if you have any interest whatsoever in Wall Street, our markets, our economy, and our national character it is a MUST READ. Rolling Stone’s Matt Taibbi lays out in voluminous detail why I have aggressively questioned the validity of a self-regulatory model for Wall Street and whether under that construct Wall Street violated the Racketeering Act. Read it and weep. Then for our national interest, please share this with your friends and colleagues. I thank the loyal Sense on Cents supporter who brought this story to my attention. LD)
On March 2, 2010, I was invited on CNBC’s Street Signs to discuss Goldman Sachs. I pulled no punches that day in cautioning people interested in Goldman Sachs that the greatest risk with Goldman was its’ ‘reputational risk’. For those who care to view that 4 minute Media Appearance on CNBC, my specific comments about GS’ reputation come in at about the 3-minute mark.
Over the last fourteen plus months, the Dow Jones Industrial Average is higher by approximately 20% and Goldman Sachs’ stock is lower by approximately 10%. (more…)
Tags: carl Levin and Goldman Sachs, CNBC Squawk Box, criminal charges vs Goldman Sachs, did Goldman Sachs commit fraud di, did Wall Street violate the racketeering act, Goldman Sachs, goldman sachs fraud, Goldman Sachs investigation May 2011, Goldman Sachs Lloyd Blankfein reputation, Goldman Sachs May 2011 what will happen, Goldman Sachs reputation, is Goldman too important to indict, is Goldman too powerful to indict, Lloyd Blankfein, matt taibbi, news about Goldman Sachs, reputation risk of Goldman Sachs, RICO Act, Rolling Stone's Matt Taibbi, Rolling Stones People vs Goldman Sachs, self-regulation on Wall Street, Senator Levin and Goldman Sachs, The People vs Goldman Sachs, what is driving Goldman Sachs stock lower, what is pushing Goldman Sachs stock lower, what is scienter, what will happen to Lloyd Blankfein, why is Goldman Sachs stock lower, will Goldman be indicted
Posted in General, Goldman Sachs | 8 Comments »
Posted by Larry Doyle on April 29th, 2011 11:46 AM |
Earlier this month I inquired Did Wall Street Violate the Racketeering Act? in regard to the rampant abuses centered on Wall Street institutions involved in the mortgage foreclosure travesty. That commentary written on April 4th generated the strongest and most vocal reaction to any commentary I have written since the inception of Sense on Cents in January 2009. (I encourage you to scan the comments to that article to gain a sense of the pain and anguish felt by so many in our nation today!)
Today I repeat the question.
“Did Wall Street Violate the Racketeering Act …Again??” in regard to the pricing and potential manipulation of the credit derivatives market? Why has Wall Street fought the legislative and regulatory proposals to bring greater transparency into this corner of the casino? Why does Wall Street want to maintain its hegemony over the cash cow known as ‘credit derivatives’? Let’s navigate across the pond and review a probe of Wall Street’s CDS business by the EU. The European Union put out this official press release this morning: (more…)
Tags: abusing a dominant position on Wall Street, antitrust investigations on Wall Street, Bank of America's CDS business, Barclays CDS business, BNP Paribas CDS business, CDS, CDS bank dealers, Citigroup CDS business, collusion on Wall Street, Commerzbank CDS business, controlling financial information on Wall Street, Credit Agricole CDS business, credit derivatives manipulation, Credit Suisse First Boston CDS business, Deutsche Bank CDS business, did Wall Street violate the racketeering act, EU press release April 29 2011, Europa site, Europa website, Goldman Sachs CDS business, how does Markit work, HSBC CDS business, is Wall Street on the up and up, JP Morgan CDS business, lack of transparency on Wall Street, market manipulation, Markit, Morgan Stanley CDS business, mortgage foreclosure abuses, organized activity on Wall Street, practices to the detriment of competitors on Wall Street, price controls on Wall Street, RBS CDS business, Royal bank of Scotland CDS business, Societe Generale CDS business, transparency in derivatives business, UBS CDS business, Wall Street racketeering, Wall Street's CDS business, Wells Fargo CDS business, what is hegemony, what is Markit, what is RICO Act
Posted in Credit Derivative Swaps, derivatives, General | 8 Comments »
Posted by Larry Doyle on April 18th, 2011 8:29 AM |
Is the need to repair the health of our financial system SO GREAT, that we should be willing to allow the basic rights of individuals and the laws of our land to be trampled and violated in the process? In my opinion, this very question is central to the rage that burns in so many hearts across our great land.
Bailing out banks may be anathema to those who love and cherish capitalism BUT not pursuing justice and real accountability for the transgressions of those individuals and those institutions central to our crisis is sickening. I believe it is inherently un-American to allow these transgressions to pass without proper prosecution. Which transgressions? (more…)
Tags: accountability on Wall Street, Anderson Cooper interview with Matt Taibbi, Auction Rate Securities, bank bailouts, Brian Moynihan, Chrysler creditors, CNN interview with Eliot Spitzer, did Wall Street violate the racketeering act, Eliot Spitzer interview with Anderson Cooper, James Gorman, Jamie Dimon, justice on Wall Street, Lloyd Blankfein, mortgage foreclosure abuse, mortgage originations, prosecutions on Wall Street, regulatory capture, repairing Wall Street, RICO Act, Rolling Stone's Matt Taibbi, transgressions on Wall Street, violating rights of individuals, Wall Street-Washington incest
Posted in General | 5 Comments »
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More Things Change, More They Stay the Same
Posted by Larry Doyle on September 7th, 2011 11:05 AM |
Having traversed a wide part of the country over the last three weeks, I would have hoped that my first post back here at Sense on Cents would encompass a sense of vim and vigor that may electrify those reading this.
Sorry to disappoint but the simple fact is the recent developments along our economic and market landscape do not strike me as energizing or as anything new.
The daily swings in the markets may be unnerving but they strike me as merely a reflection of the fact that the “walking pneumonia” which defines our domestic economy—and many parts of the global economy as well—is settling ever deeper into our lungs. (more…)
Tags: did Wall Street violate the racketeering act, economic and market updates september 2011, Federal Reserve policy of the twist, jimmy hoffa barack obama promoting class warfare, jimmy hoffa labor day comments, mortgage suit against banks, pursuit of the truth, Sense on Cents, the more things change the more they stay the same, what is new with the economy september 2011
Posted in General | 10 Comments »