FBI Channels the Tea Party: Partners With the Banks and Blames the Poor for the Crisis

[eridani]

http://readersupportednews.org/opinion2/279-82/18994-obamas-fbi-channels-the-tea-party-partners-with-the-banks-and-blames-the-poor-for-the-crisis

This is the third column in my series discussing why the FBI and the Department of Justice (DOJ) have failed to investigate and prosecute successfully the largest and most destructive financial fraud epidemic in history. The series uses the FBI's 2010 Mortgage Fraud report to tease out how the FBI and DOJ suffered such a defeat.

The MBA conned the FBI into a "partnership" with the trade association of the "perps." In my prior column I showed the first product of the partnership - a poster warning customers not to defraud banks but ignoring banks defrauding customers. This column discusses the more consequential and damaging product of the FBI/MBA partnership. The MBA presented a definition of "mortgage fraud" under which the bank is always the innocent victim and never a perpetrator. Because the FBI and DOJ did not draw on the banking regulators' expertise due to the death of criminal referrals by the agencies the FBI fell for the MBA con.

In the S&L debacle, less than 1/70 the magnitude of the control fraud we made over 30,000 criminal referrals to produce over 1,000 felony convictions in cases designated as "major" by the DOJ. In the current crisis OTS made zero criminal referrals.

The second product of the MBA and the FBI's Faustian bargain is a purported definition of "mortgage fraud." The FBI's March 8, 2007 press release announcing its "partnership" with the FBI contained the same fake definition as the FBI's 2010 mortgage fraud report quoted below. Note that the MBA con of the FBI was so successful that the FBI parrots the definition uncritically, year after year, as if it were revealed truth. Unlike Gaul, all mortgage fraud is divided into only two parts - and the bank and its elite officers are always the victims.

[Enthusiast]

1. "the FBI has remained conned."

When you are voluntarily conned, it is little wonder that you remain conned.

All this is the executive branch's responsibility to correct. This is why I have utter contempt for President Obama and the DOJ. Why would they allow overt criminality to continue to go unpunished? WTF?