Legal chicanery and pitch darkness are the banker's stoutest allies.

Its show time again on Capital Hill, but this second round of show and tell won’t cut the muster! It will end as it always has, back to business as usual. Wall Street has gained to large a footprint in congress to be chastised in any meaningful manner. And there is no Ferdinand Pecora to take on the banks.

The hearings, like their counter part in the UK were and are for appearances, to placate rather than prosecute.

This show lacks the credibility of its famous counter part Ferdinand Pecora, and “sadly” there appears to be no real intent to prosecute anyone for anything, and there are a lot of good reasons to bring criminal charges.

What we are witnessing on Capital Hill is a fusillade to give the uneducated observer the appearance that something is going to be done about the banks and their reprehensible behavior. But don’t be misled! It will be back to business as usual as it has since the founding of the banking system. Banks tend to be corrupt, it is in their nature.

This is not the first time the Banks have produced chaos within our economy, and it will no doubt not be the last!

The bankers are involved in every aspect of their business even the agencies that oversee and control them, and from political office and its revolving door. Its always been the fox guarding the chickens, and over seeing other foxes. One has only to look back to the last fiasco the banks engineered to see where we are today.

Pecora launched a real investigation and interviewed such high-profile luminaries as Wall Street personalities Richard Whitney, president of the New York Stock Exchange, his brother, George Whitney (a partner in J.P. Morgan & Co.) and investment bankers Thomas W. Lamont, Otto H. Kahn, Albert H. Wiggin of Chase National Bank, and Charles E. Mitchell of National City Bank (now Citibank).

Even then Congress was on the payroll of the Morgan interests. But public outrage brought congress to its knees and meaningful regulation was passed. Glass Steagall held the banks in check until Greenspan watered it down on behalf of his real bosses, JP Morgan, and Morgan Guaranty Trust Co. another JP Morgan Company.

In his role at the FED, his primary function was to water down and rescind the Glass Steagall act, which he successfully accomplished.

Pecora's investigation unearthed evidence of irregular practices in the financial markets that benefited the rich at the expense of ordinary investors, (sound familiar?) including exposure of Morgan’s “preferred list” by which the bank’s influential friends (including Calvin Coolidge, the former president, and Owen J. Roberts, a justice of Supreme Court of the United States) participated in stock offerings at steeply discounted rates.

Pecora also revealed that National City sold off bad loans to Latin American countries by packing them into securities and selling them to unsuspecting investors, (as Goldman Sachs now stands accused) that Wiggin had shorted Chase shares during the crash, profiting from falling prices, and that Mitchell and top officers at National City had helped themselves to $2.4 million in interest-free loans from the bank’s coffers.

Pecora's investigations highlighted the contrast between the lives of millions of Americans living in abject poverty and the high-rolling lives of such financiers as J.P. Morgan, Jr.

Under Pecora's insistent questioning, Morgan and many of his partners admitted that they had paid no income tax in 1931 and 1932;

And there were bombshells! New York Mayor Fiorello La Guardia’s revelations that a corporate publicist had over a ten-year period stuffed nearly $300,000 in the pocket of various journalists to ensure flattering coverage of certain companies. Today it’s members of Congress that accept money from the powerful Banking contingent.

Ferdinand Pecora, meticulously exposed Wall Street’s role in the crash. His famous inquisition of J.P. ‘Jack’ Morgan Jr., son of the financial titan, revealed the House of Morgan’s control over other financial institutions. There is no difference today, just different faces but the same mindset, and the same exertion of control by the same players. It will never end, until the American people stand up in numbers and say STOP.

Obama tied to FDIC, Wall Street Scam

It all started in June 2008, when the FDIC took control of Indymac Bank, that of itself wasn’t strange as many large banks would collapse over the type of loans and the creative insurance programs these banks invested in.

But what occurred in March 2009 will make your hair stand on edge. It displays the open corruption between the White House, The Banks, and those so well connected to the current administration and Washington insiders.

In March 2009 Indymac Bank was sold to One West Bank, the sale was for 70% of the face value of the mortgages and the HELOC’S at 58%

But the government guaranteed 80% to 95% of the original loan amount, for a short sale or a foreclosure.

Example:
Loan Amount $ 478,000
Add six months interest for failed payments
$ 485,000
One West Bank paid FDIC $ 334,600
Short sale amount $ 241,000
FDIC Guarantee $ 388,000
FDIC paid One West Bank $ 147,000

One West Bank received for the short sale a total of:
$ 241,000
$ 147,000
__________
$ 388,000 a $53,400 windfall plus

The Bank on a short sale took a note from the seller for the shortfall in the amount of $90,000 for a profit of= $143,400

One West Bank made a hefty profit from the taxpayers on this one transaction and it worked the same way on a foreclosure

Now we can see why it benefits the banks to Foreclose or complete a short sale. But wait!

The owners of One West Bank are none other than:
1. George Soros - Obama’s main contributor whom he has already paid back with a 2bn dollar Grant to one of his corporations for off shore oil drilling, and the US has no benefit in the oil:
2. John Paulson - A relative of Treasury Secretary Hank Paulson former Chairman and Chief Executive Officer of Goldman Sachs.

And a former Goldman Sachs VP

Obama Takes good care of his financial supporters and often it’s with our money!