Excellent Interview – A Brief History of Corporate Immunity

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Like so many other cases of egregious financial fraud over the past several years, regulators used softball tactics to go easy on the banks. No bank was even forced to admit wrongdoing in the orders by the US Commodity Futures Trading Commission and the Office of the Comptroller of the Currency. Regulators avoided court and settled for cash, which the traders won’t pay – the bank’s shareholders will. Officials presented a minimal amount of evidence, lacking the full details of the traders’ misconduct. They sought no judicial review.

In short, banks got away with their crimes for a pittance; their stocks even rose on the news of the settlements because the market believes the trouble is over. 

The DoJ has increasingly used a relatively new and declawed method to deal with the aftermath of the financial crisis: the deferred prosecution agreement (DPA). 

No one goes to jail and no one ever gets prosecuted. Under a deferred prosecution agreement, the Justice Department allows corporations to pay a fine, then agree to some enhanced supervision and monitoring. The Justice Department appears to admit this in the US Attorney’s manual, when they describe these deals as “agreements not to enforce the law under particular conditions”.

Each deferred prosecution agreement is negotiated individually. There is no thought to creating a future record: no trials, no jury verdicts, no appellate court decisions, no case law and no binding precedent. This makes it impossible to determine the boundaries of the law. The same conduct can be treated differently, depending on the prosecutor.

–  From the post: The U.S. Department of Justice Handles Banker Criminals Like Juvenile Offenders…Literally

Pulitzer-Prize winning journalist Jesse Eisinger is currently on leave from his day job as he finishes a book about “white collar crime & (non)punishment.” He recently sat down with ProMarket to discuss some of what he’s learned.

What follows are some choice excerpts, but I also suggest reading the entire thing here:

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Must Watch Video – “The Veneer of Justice in a Kingdom of Crime”

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All government, in its essence, is a conspiracy against the superior man: its one permanent object is to oppress him and cripple him…The most dangerous man to any government is the man who is able to think things out for himself, without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane and intolerable, and so, if he is romantic, he tries to change it. And even if he is not romantic personally he is very apt to spread discontent among those who are.

– H.L. Mencken

It does not take a majority to prevail but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men.

– Samuel Adams

Fiat justitia ruat caelum
“Let justice be done though the heavens fall.”

I believe it is the duty of every single American citizen to sit down and watch the following mini-documentary. In just 45 minutes, you will learn more about the state of the union and the the world around you than decades of schooling and mainstream media could ever provide. Ignorance is not bliss, and if it weren’t for the blinding levels of ignorance pervasive in modern society, we wouldn’t find ourselves in this current deplorable state — on a knife’s edge between manageable serfdom and intolerable tyranny.

No one in American society is supposed to be immune from criminal prosecution, yet the Justice Department within the Obama administration took it upon themselves to grant such immunity to the mega banks and their employees. This is a tale of the traitors operating within the highest levels of U.S. government, and it is a saga of how the rule of law was openly torched in front of our very eyes.

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