If it's a regulated business, where then are the regulators?
One of them's the same cabal which sets the
rates: the Federal Reserve.
The Fed has jurisdiction over all bank
holding companies, including Citigroup, Morgan Chase and Wells Fargo.
Each owns a subprime lender. Bank of America, among other things,
underwrites the predatory loans.
But the Fed, at least under
Greenspan, has had its eye on bigger, more ideological quarry.
so there are, of course, non-federal opponents.
and community-based groups, and, seemingly in a different sphere,
class action lawyers. State attorneys general also play a role: just
prior to HSBC's bear hug, Household International settled with states
for half a billion dollars. Citigroup, given the political juice it
enjoys, paid half that amount, to six times the victims. These
settlements, in the language of Wall Street, are a cost of doing
business. At most, Citigroup pays back sixty cents on each dollar it
In exchange it gets a waiver: the people accepting the
settlement checks cannot sue Citi again.
Coyote Howlin ~ The court system and the judges, justices, all the LEGAL TRIBE are invested in a system of fraud.
Fraud does not grow the reality of truth and justice.
The first collapse in the system of fraudulent 'money' was New Century Mortgage, the Goldman Sachs fraudulent global RICO operation fulfilled its' goal(s), betting on the collapse of America because the BANKING OWNERS' INTERNATIONAL, need the United States' verve from the tap root to the top of the tallest growing natural abundance in earth.