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U.S. ‘Justice’ Department Proclaims Big Banks Have A License To Steal - Jeff Nielson

U.S. ‘Justice’ Department Proclaims Big Banks Have A License To Steal - Jeff Nielson
By Jeff Nielson 2 years ago 12762 Views 7 comments

First we had “too big to fail”. Then came “too big to jail”. Now, finally, the U.S. Department of “Justice” is letting us know what it really thinks: U.S. Big Banks simply have a license to steal.

The most amazing thing about the Justice Department’s new guidelines on prosecution of corporate crime is that the DOJ is effectively acknowledging there was a big problem with how it did things before.

Yes. As these criminalized institutions now perpetrate financial mega-crimes measured (literally) in the $trillions, we have the so-called Justice Department claiming it has been too hard on this financial crime syndicate. Yes. Presumably if the DOJ hadn’t taken its previous, supposed “tough love” approach to these financial criminals, they would now already be perpetrating multi-QUADRILLION dollar crimes. And the U.S. government certainly won’t stand in the way of “progress”.

Supposedly, giving these fraud-factories microscopic fines as their sole punishment was being too harsh – when it comes to enforcing the law. Let me reiterate; we have the U.S. Department of Justice effectively implying that even its previous, token enforcement of laws against financial crimes was impeding the (crimes of the) financial sector. In the United States of Crime, any time there is a conflict between “law” (the Rule of Law) and “profit” (the proceeds of crime), the U.S. Department of Justice sides with profit -- i.e. the criminals.

What the Big Banks really “need”, according to the DOJ, is absolute immunity. It’s like the grandparents of a spoiled brat. No matter how horrific the deed perpetrated by the brat, the grandparents never do anything more than muss-up his hair a bit, and then say “run along, you little Scamp, and don’t do this, again.”

Is there any chance that the spoiled brat would ever reform his intolerable behavior? Of course not. Is there any possibility that telling these fraud-factories, in absolutely explicit terms that they will never be prosecuted will actually “deter crime”? No, of course not.

Yet this is precisely what the liars in the U.S. government (and the mouthpieces of Bloomberg) expect us to believe:

“One of the most effective ways to combat corporate misconduct is by seeking accountability from the individuals who perpetrate the wrong-doing,” the memo reads. This “deters future illegal activity, it incentivizes change in future corporate behavior, it ensures that the proper parties are held responsible for their actions, and it promotes the public’s confidence in our justice system.” [emphasis mine]

Let’s dissect this utter perversion of logic and justice, on a phrase-by-phrase basis.

One of the most effective ways to combat corporate misconduct is by seeking accountability from the individuals who perpetrate the wrong-doing…

Don’t punish the Boss who gave the order; punish the Lackey who followed the order. Even in the complete travesty of justice which the U.S. calls its “War on Drugs”; the Department of Justice does not subscribe to such warped logic. It supposedly focuses its quasi-military crusade on the “drug cartels” rather than on the lowly street-pushers.

Yet when we are dealing with Big Banks instead of drug cartels, a crime syndicate whose financial felonies are literally a hundred times larger than those of the drug cartels, we’re now told that the best way to “combat corporate misconduct” is to publicly proclaim to those corporations (Big Banks) that they have complete immunity from any/all prosecution.

The despicable irony, and the reason why this is such an apt metaphor is that while the U.S. government still pretends to be fighting a War on Drugs, it has been giving U.S. Big Banks a free pass to serially launder trillions of dollars for the same drug cartels the U.S. government claims it is fighting to eliminate.

This deters future illegal activity…

No, it encourages more organized/systemic crime. Knowing that they will never be prosecuted; the Big Banks can plan their future crimes with even more confidence/certainty/reckless abandon.

…it incentivizes changes in future corporate behavior

Yes. Knowing they will never, ever be prosecuted; U.S. Big Banks can plan even more crimes, and even larger crimes. The Crime Syndicate has been “incentivized” to get much, much larger.

…it ensures that the proper parties are held responsible for their actions

Really? How does punishing individuals for the crimes of corporations ensure that the “proper parties” are being held responsible? To “combat corporate misconduct”, and punish the “proper parties”, this directly and necessarily implies that you punish corporations for the crimes of corporations – not individuals.

If a farmer has a problem with wolves killing his cattle, will he “deter future activity”, “incentivize change” (with the wolves), and “ensure that the proper parties are held responsible” if he goes out and shoots a few mountain lions? Of course not. It will simply make the wolves glad and smug that they are not lions.

…it promotes the public’s confidence in our justice system.

Sure it does.

Note that the greatest absurdity/perversion of truth in these supposed “new guidelines” is the pretense that there is anything new about giving U.S. Big Banks a virtual free pass for their crimes, no matter how large the crime, no matter how many times the same Big Banks commit the same crimes. Former U.S. Attorney General (i.e. Chief Crime Pimp) Eric Holder had already previously proclaimed that he would never prosecute U.S. Big Banks. And he didn’t.

So why any need for “new guidelines”? Because the new Chief Crime Pimp, Loretta Lynch, was recently forced to engage in a token prosecution of these fraud factories. What could “force” the Chief Crime Pimp of the United States to prosecute her own Masters, against her will? Think “Bernie Madoff”.

Some crimes are simply too big to cover up, even for a Chief Crime Pimp. With U.S. Big Banks engaging in blatant, serial and extreme manipulation of the $5-trillion-per-day global currency markets, day after day, for well over a decade, even a Chief Crime Pimp can only stall the wheels of pseudo-justice for so long.

A token prosecution took place. More, token fines were assessed. And the “reputations” of the worst organized crime syndicate in human history were slightly tarnished. Thus the decree to their servants in the U.S. government: never again.

From now on, no matter what the crime, no matter how large the crime, no matter how frequent the crime; the Big Banks will never even be prosecuted, let alone actually punished. From now on, the U.S. Department of (Anti-)Justice has promised it will never prosecute any banksters, except for a few, token Scapegoats whom the Big Banks will serve-up-on-a-platter, on the rare occasions when the American Sheeple can raise up their lazy carcasses enough to belch-out a demand for law-enforcement.

Once upon a time, we lived in nations which recognized and upheld the Rule of Law. Indeed, many esteemed commentators have previously asserted that it was the (previous) strict adherence to the Rule of Law which was the one factor most responsible for the decades of unparalleled prosperity which we had previously enjoyed. Honest economies tend to be prosperous economies.

No more. Today we have nothing in the West but saturation fascism: the complete marriage of “Big Business” (organized crime) and “Big Government” (big military, big corporate subsidies, Big Brother). While these fascists rely upon their war-machines to terrorize most of the world’s smaller nations, when it comes to their campaigns of terrorism against larger, more-powerful nations, they typically resort to economic terrorism.

Even the nations of Russia and China have not been spared from such financial/economic terrorist attacks. Indeed, these financial psychopaths were right in the middle of their terrorist attack on the Russian ruble, when (inconveniently) the pseudo-regulators and pseudo-prosecutors of the West were forced to begin their pseudo-prosecution of U.S. Big Banks for their continuous, illegal, rigging of global currencies.

Now the Criminals have ensured that they will never be impeded in their economic terrorism with future, token prosecutions. Now they have secured a promise of complete, unending immunity from any/all crime…unless or until the people of the United States actually elect a legitimate (i.e. non-Democrat/non-Republican) government.


John Jacobs 2 years ago at 10:15 AM
The problem with your theory is that corporations cannot commit crimes except through the people who work for them. When you fine the corporation, you are simply passing a bill to innocent shareholders. The DoJ is not wrong. What would be wrong is if the corporate bigwigs are not fully a part of the individual enforcement mechanism. Unfortunately, given its past actions, this is highly likely.
Jeff Nielson 2 years ago at 2:28 PM
John, this is precisely the EXCUSE used by the media. It has no validity, for two reasons.

1) We're dealing with SYSTEMIC crime. In no way is this "just a few bad apples." It is not merely inefficient but absurd to (pretend to) deal with ORGANIZED CRIME by punishing individuals.

2) Corporate governance. You punish the CORPORATION, not the individual, in order to create a "corporate culture" which DISCOURAGES crime. Giving the Big Banks a "free pass" for their multi-trillion dollar mega-crimes obviously ENCOURAGES more/greater crimes.
TheSovereignMan 2 years ago at 11:34 AM
A mistake in the way money is issued gives an answer to the common question: why we are in this unending crisis ?

This all happen because a fatal flaw in the way money is issued. Sovereign money must be issued by the Treasury while the banking cartel should borrow this money to conduct his business from the Treasury by issuing bank bonds, not the other way around. It is easy but nobody pointed out it before.
Jeff Nielson 2 years ago at 2:30 PM
Sovereign Man, unfortunately the crime/corruption is much too systemic, and much too complex to be remedied by what is ultimately a cosmetic solution...

http://www.sprottmoney.com/news/debt-free-money-not-a-solution-jeff-nielson-sprott-money-news

True monetary (and economic) reform can only START once we completely banish the world of corrupt, fiat-paper insanity, and return to Honest Money -- aka "the gold standard."
Rumplestiltskin 2 years ago at 12:07 PM
The big banks and the DOJ believe if they kill the messenger, no one will be the wiser. If the DOJ legalizes Criminality, then we should not make any distinctions about how far up or down that ladder we can go.

IE; If the Banks can continue with their criminality, then we can as well. If we just stop paying on our credit cards and home mortgages, we CAN STOP the banks in their tracks, but it has to be done by a majority and done in unison. In doing so the banks won't have to face criminal charges, they will be broke within a week to 30 days for lack of liquidity, thus we will have succeeded where the DOJ failed !!!
Beano 2 years ago at 4:27 PM
I think this is what they diplomatic immunity only thing it is being applied to banks.
This is, of course, endorsing lawlessness.
Beano 2 years ago at 4:28 PM
Oops, should have been "called diplomatic immunity".

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