THE U.S. DEPARTMENT OF "JUSTICE" BLACKMAILED BARLEYS BANK THUSLY: PAY THE U.S. A FINE OF $160 MILLION OR FACE PROSECUTION FOR THEIR RIGGING OF THE LIBOR (WHICH JUST HAPPENED TO ROB THEIR CLIENTS OF MANY BILLIONS OF DOLLARS). AGREED, SCREW THE CLIENTS.

---

 theREALnews                                                                               Permalink

Will Obama Admin. Prosecute the Big Banks for LIBOR Manipulation? 

Michael Greenberger: With Wall St.'s embace of Romney, Obama has nothing to lose prosecuting the big banks for the LIBOR fraud 

A complete transcript is available at the original.

Bio 

Michael Greenberger is a professor at theUniversity of Maryland School of Law, where he teaches a course entitled "Futures, Options and Derivatives."Professor Greenberger serves as the Technical Advisor to the United Nations Commission of Experts of the President of the UN General Assembly on Reforms of the International Monetary and Financial System. He has recently been named to the International Energy Forum’s Independent Expert Group that provided recommendations for reducing energy price volatility to the IEF’s 12th Ministerial Meeting in March 2010. Professor Greenberger was a partner for more than 20 years in the Washington, D.C. law firm of Shea & Gardner, where he served as lead litigation counsel before courts of law nationwide, including the United States Supreme Court.

ECONOMIST AND WHITE-COLLAR CRIMINOLOGIST BILL BLACK: THE NEW YORK FED UNDER TIM GEITHNER "WAS INFORMED BY BARKLEYS TRADERS THAT THE RATE WAS BEING MANIPULATED DOWN ... BUT THEY DON'T APPEAR TO HAVE MADE CRIMINAL REFERALS." "SO IF THE NEW YORK FED SCREWED UP OUR ABILITY TO PROSECUTE BY NOT TAKING ACTION AGAINST BARKLEYS, THAT'S NOT A CRIME BY GEITHNER BUT IT'S CERTAINLY SOMETHING WHERE HE SHOULD RESIGN IMMEDIATELY ... HE WAS AN ABJECT FAILURE AS A REGULATOR."

---

 theREALnews                                                                               Permalink

Baltimore, Big Banks and a Criminal Conspiracy 

Bill Black: The LIBOR fraud stole millions upon millions from American cities and people around the world

Original with full transcript here.

Bio 

William K. Black, author of THE BEST WAY TO ROB A BANK IS TO OWN ONE, teaches economics and law at the University of Missouri - Kansas City (UMKC). He was the Executive Director of the Institute for Fraud Prevention from 2005-2007. He has taught previously at the LBJ School of Public Affairs at the University of Texas at Austin and at Santa Clara University, where he was also the distinguished scholar in residence for insurance law and a visiting scholar at the Markkula Center for Applied Ethics. Black was litigation director of the Federal Home Loan Bank Board, deputy director of the FSLIC, SVP and general counsel of the Federal Home Loan Bank of San Francisco, and senior deputy chief counsel, Office of Thrift Supervision. He was deputy director of the National Commission on Financial Institution Reform, Recovery and Enforcement. Black developed the concept of "control fraud" - frauds in which the CEO or head of state uses the entity as a "weapon." Control frauds cause greater financial losses than all other forms of property crime combined. He recently helped the World Bank develop anti-corruption initiatives and served as an expert for OFHEO in its enforcement action against Fannie Mae's former senior management.