Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Why Most Investors LOST Money by Investing in ARK FUNDS - 27th Jan 22
The “play-to-earn” trend taking the crypto world by storm - 27th Jan 22
Quantum AI Stocks Investing Priority - 26th Jan 22
Is Everyone Going To Be Right About This Stocks Bear Market?- 26th Jan 22
Stock Market Glass Half Empty or Half Full? - 26th Jan 22
Stock Market Quoted As Saying 'The Reports Of My Demise Are Greatly Exaggerated' - 26th Jan 22
The Synthetic Dividend Option To Generate Profits - 26th Jan 22
The Beginner's Guide to Credit Repair - 26th Jan 22
AI Tech Stocks State Going into the CRASH and Capitalising on the Metaverse - 25th Jan 22
Stock Market Relief Rally, Maybe? - 25th Jan 22
Why Gold’s Latest Rally Is Nothing to Get Excited About - 25th Jan 22
Gold Slides and Rebounds in 2022 - 25th Jan 22
Gold; a stellar picture - 25th Jan 22
CATHY WOOD ARK GARBAGE ARK Funds Heading for 90% STOCK CRASH! - 22nd Jan 22
Gold Is the Belle of the Ball. Will Its Dance Turn Bearish? - 22nd Jan 22
Best Neighborhoods to Buy Real Estate in San Diego - 22nd Jan 22
Stock Market January PANIC AI Tech Stocks Buying Opp - Trend Forecast 2022 - 21st Jan 21
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
WARNING - AI STOCK MARKET CRASH / BEAR SWITCH TRIGGERED! - 19th Jan 22
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

U.S. Department of Justice and the Corruption of the “Innocent”

Companies / Government Intervention Feb 06, 2015 - 02:11 AM GMT

By: Money_Morning

Companies

Shah Gilani writes: It’s time to rate the Justice Department.

But before we grade it, I want to go on record with a serious proposal.

I think its name should be changed.


Why? To protect the innocent the department drags through the mud. Where’s the justice in that?

It’s not fair that an outfit with a name like the U.S. Department of Justice has the power to extract billions and billions of dollars in “settlements” from innocent, stalwart U.S. institutions.

So, let’s talk about fairness…

Another “Watchdog” With No Bite

This is the United States – and we need to protect the innocent.

Take S&P, for example. A wholly owned division of McGraw Hill Financial Inc. (NYSE: MHFI), Standard & Poor’s Financial Services LLC was found innocent on Tuesday of allegations it committed fraud.

What’s worse, the supposed fraud S&P committed was back in 2007. For justice’s sake, aren’t there statutes of limitations on this kind of harassment of systemically important financial institutions?

Apparently not. The Justice Department decided, years after the facts, to look under the hood at the ratings agency. S&P, for its part, was astonished that such a long time had passed and all of a sudden it was being investigated.

According to Standard & Poor’s, Justice was acting on behalf of the Obama administration in digging up such old, forgotten little stuff that really didn’t have any consequences, because S&P had the nerve to downgrade the United States’ credit rating on Aug. 5, 2011, and peeps were pissed.

Of course, it didn’t matter that Justice had gathered evidence against S&P. In fact, it amounted to such a small amount that when S&P demanded that Justice show the ratings agency what it really had, Justice had to forklift more than 290 million documents stacked up in a warehouse.

I mean, come on!

Well, the story has a sad ending for S&P and a happy ending for Justice, which is why I’m so upset.

S&P neither admitted nor denied systematically changing rating models in 2007 to guarantee higher ratings to issuers of hundreds of billions of dollars of mortgage-backed securities, so it wouldn’t lose business to competitors who were making the same accommodating moves. However, S&P agreed to pay about $1.5 billion to settle the matter.

It pains me to see the innocent fleeced such!

After Justice Department head hit man Eric Holder threw an in-your-face, take your place, you backstabbers, party announcing the settlement on Tuesday, the Poor’s wee-buggers caught up in this injustice sheepishly said that this settlement “contains no findings of violations of law.”

S&P will now have to fork over about a year’s net profit, or $687.5 million, to Justice, $687.5 million to a bunch of greedy states that joined the suit, and a bunch of money to some little pension outfit known as the California Public Employees’ Retirement System (CalPERS).

Oh, the humanity!

So, before we grade Justice, using S&P’s rating system (yeah, now you’re going to get yours, Injustice Department!), I suggest we change their official name to the “U.S. Financial Services and Miscreants Settlement and Toll-Taking Department.”

Hold on, I’m checking with S&P on its rating grade…

Okay! S&P says if it was up to them, without even looking at one of its new models – which just happens to be under investigation by the U.S. Securities and Exchange Commission (SEC) as we speak – they’d give Justice a AAA rating.

Wow, that’s generous.

S&P explains – not really – that it looked to its municipal bond rating scale. Because Justice is a toll-taking business, S&P says it would classify it as a revenue-generating enterprise. And since Justice has the power to raise what it charges and go anywhere to force innocent peeps like us and our bank buddies through its booth, S&P says it’s an OUTSTANDING credit risk.

“So,” I replied, “that’s why none of you ever go to jail. You have to be free to pay the troll.”

Stories like this prove what we already all know – that the players on Wall Street are corrupt.

However, that doesn’t mean you can’t make money in the markets. You just have to know some of the secret strategies that allow you to “play” just as profitably as the Wall Streeters.

Just think about one of the biggest myths in investing – the idea that blue-chip stocks can’t quickly and easily double in value.

The reality is that they do. And they do it every day.

Take, for instance, a company like Humana Inc. (NYSE: HUM), the $22.7 billion health insurance giant.

You wouldn’t think a company that large could bring its investors big, fast windfall profits, would you?

But this shocking video that I put together could immediately change the way you invest your money.

If you knew about this secret strategy, you could have doubled your money in Humana in just 43 minutes.

Now, this same investment is about to made in three more blue-chip companies that could give you a very real chance to amass a seven-figure fortune – in record time.

I want you to see it. Watch the full details here.

Source :http://www.wallstreetinsightsandindictments.com/2015/02/corruption-innocent/

Money Morning/The Money Map Report

©2014 Monument Street Publishing. All Rights Reserved. Protected by copyright laws of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), of content from this website, in whole or in part, is strictly prohibited without the express written permission of Monument Street Publishing. 105 West Monument Street, Baltimore MD 21201, Email: customerservice@moneymorning.com

Disclaimer: Nothing published by Money Morning should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investent advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication, or after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended by Money Morning should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.

Money Morning Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in