Another White House Sell Out on the Big Banks

Shouldn’t bankers be held to the same laws the rest of Americans have to obey? This is a no-brainer except in the Washington beltway where banks are considered the basis of the Republic rather than the modern equivalent of train robbing Western desperados. I don’t understand. Why is no one being prosecuted? I once lied to a judge. I didn’t know it was a lie until later. When I found out, I called him up (I was working for the state and dealt with the judge regularly) and explained and apologized. He reminded me that I could have gone to jail for that. I told I was well aware of it. And yet here, banks who lied to the judge, to the courts of the United States, are simply walking away. Unlike me, they knew they weren’t telling truth and unlike me, they were making enormous sums of money by lying, and they are not apologizing. Do you see anywhere in the agreement that they have to say, “I’m sorry.” I don’t see it.

There is a dual system of justice in this country, one for me and you, and one for the 1%. It’s very sad. We have been told that we live in a nation of laws, not of men. But the fact is we live in a nation of men, where one class is better than another in the eyes of the law.

James Pilant

Robo-Signing Bank Settlement is a Criminal Sell Out | Better Markets

“Let me help a few victims I created by ripping them off and illegally throwing them out of their homes by false court filings that I swore were true.” That’s what the so-called mortgage settlement talks are really all about: fraud, perjury and crimes. That’s what these banks did and that’s what they are trying to buy their way out of.

The settlement discussions are the same: eliminate all or almost all liability for the bank and, most importantly, all bank officers and employees in exchange for a loan forgiveness or modification program. Think about this: the banks engaged in a years-long pattern and practice of what can only be described as fraudulent if not criminal conduct that would put anyone else in prison for years if not decades, yet banks get to buy off the cops with some money to help the victims they created.

Robo-Signing Bank Settlement is a Criminal Sell Out | Better Markets