Daily Archives: March 24, 2016

FCIC February 9, 2011 meeting document record include 2 criminal referrals for Citi

Thank you Richard Bowen for your information and article. Now we know. there were not  only one but two criminal referrals sent to the DOJ by FCIC:

From Citi whistleblower Richard Bowen website:

But here’s the real blockbuster that Fortune and the other media have not found yet! They will, it’s there. In the records of the February 2011 business meeting it is noted that the FCIC also made a second Citi criminal referral based solely on my testimony and evidence. It is very unlikely that any other bank got two criminal referrals from the FCIC which were subsequently covered up and ignored by Attorney General Eric Holder(!) –  even though the Commission saw evidence that laws were possibly violated.

The motion for referral states:

Whereas, the Commission is instructed to refer to the Attorney General of the United States and any appropriate State Attorney General any person that the Commission finds may have violated the laws of the Unites States in relation to ( the financial crisis), and

Whereas, there have been presented to the Commissioners a memorandum concerning possible violations of the laws of the United States regarding the allegations made by Richard Bowen, and

Whereas, the Commission finds that laws of the United States may have been violated with respect to such matters

Now, Therefore, Be it Resolved that the Chairman is authorized on behalf of the Commission to forward the memorandum and accompanying exhibits to the Attorney General of the United States for further investigation and possible action.

(The FCIC February 9, 2011 meeting document record is available here,  page 3 and pages 63-65)

Richard Bowen testifies about fraud and corruption at CitiGroup before the Federal Crisis Inquiry Commission.


Now We Know — The DOJ Ignored Two FCIC Citi Criminal Referrals!

Several items have recently hit the press regarding the financial crisis of 2008 which could lead to further investigation of what actually happened and who is responsible.
One that has me excited is the National Archives releasing the first of many documents of the Financial Crisis Inquiry Commission (FCIC) which have been sealed for five years!!!
The media is already picking up on this and noted that the FCIC  made a criminal referral for Robert Rubin, et al. in September of 2010. They discovered that “Rubin reportedly blessed the increased risk taking at Citi … Their direct exposures to subprime bonds were $55 billion according to the Commission. The FCIC staff notes say that “based on FCIC interviews and documents obtained during our investigation, it is clear that CEO Chuck Prince and Robert Rubin … knew this information.”
Fortune goes on to say, Prince and Rubin, were made aware of Citi’s exposure “no later than September 9, 2007.” Yet later that fall, “they told analysts that the bank’s exposure to subprime was just $13 billion, reporting it as 76% less than what actually was.”
But here’s the real blockbuster that Fortune and the other media have not found yet! They will, it’s there.

Former TierOne Bank CEO gets 11 years in federal prison

Former TierOne Bank chief executive officer Gilbert Lundstrom was sentenced Wednesday to 132 days in federal prison for orchestrating a scheme to defraud TierOne’s shareholders and to mislead regulators by concealing more than $100 million in losses on loans and declining real estate values, according to the U.S. Department of Justice.

U.S. District Judge John Gerrard of the District of Nebraska, ordered 74-year-old Lundstrom to also pay a $1.2 million fine. In Nov. 6, 2015, Lundstrom was convicted of 12 of 13 counts including conspiracy, securities fraud and wire fraud.

“Lundstrom is now another bank CEO investigated by SIGTARP to be sentenced to prison,” said Special Inspector General Romero.

“He was the architect of the bank’s aggressive and risky growth plan that backfired when the housing bubble burst. Instead of honestly communicating TierOne’s losses, this bank CEO took intricate steps to conceal the bank’s true financial picture and dig the bank into an even deeper financial hole,” added Romero.

“Lundstrom applied for $86 million in TARP funds on behalf of the bank. This was a critically important conviction and we commend the commitment by the DOJ Criminal Division and the FBI in holding bankers who commit crimes accountable,” concluded Romero.

Read on.

Freddie Mac sells off another $1.4 billion in non-performing loans

Freddie Mac announced Wednesday that it selected the winning bidders in its latest massive sale of non-performing loans, with one now-familiar buyer snapping up more than half of the $1.4 billion pool of NPLs.

According to Freddie Mac, the $1.4 billion offering of 6,816 deeply delinquent non-performing loans was split into seven different pools.

Read on.

Trump trademarked Reagan’s popular ’80 campaign slogan ‘Make America Great Again’ just days after the 2012 election


By Biloxi

A lot of people didn’t know that Ronald Reagan made “Make America Great Again” a backbone of his campaign in 1980.

From Wikipedia:

The term was created in 1979. during a time in which the United States was suffering from a worsening economy at home marked by high unemployment and inflation. The phrase “Let’s Make America Great Again” appeared on buttons and posters during Reagan’s 1980 campaign. Usually when the term is used, people use it as a reflection to the Presidency of Ronald Reagan.


Yet, “Make America Great Again” was never trademarked the slogan by Reagan. Donald Trump just did. Trump trademarked the slogan ‘Make America Great Again’ just days after the 2012 election. Trump were filed trademark papers in November 2012 which indicated how long Trump had been thinking about a serious run for the White House. Hat tip to Daily Mail:

Trump applied for his trademark 13 days after Barack Obama was re-elected president, an indication of how quickly he began thinking about succeeding him

Trump applied for his trademark 13 days after Barack Obama was re-elected president, an indication of how quickly he began thinking about succeeding him.

Trump is not the only candidate that has trademarked a slogan:

In 2009 Sen. John McCain trademarked ‘Country First,’ a phrase that he would later make a central part of his 2012 presidential campaign. Barack Obama‘s 2012 re-election campaign trademarked the phrase ‘Greater Together,’ along with ‘GenerationFortyFour’ and ‘Gen44.’
Republican Mitt Romney‘s 2008 campaign trademarked its logo, but his 2012 organization failed to protect its slogan ‘Believe In America’ – a line that formed the title of Romney’s book describing his economic plan.

The Obama slogan ‘Yes We Can’ has never been registered for use in politics. But its Spanish-language translation, ‘Si Se Puede,’ is owned by the United Farm Workers of America, a labor union which is now part of the AFL-CIO.

There’s no evidence in U.S. Patent and Trademark Office records that other major preeidential nominees in the modern era – including both George Bushes, Jimmy Carter, Bill Clinton, Bob Dole, Mike Dukakis, Gerald Ford, Al Gore, John Kerry, Walter Mondale, Ralph Nader, Ross Perot and Ronald Reagan – ever trademarked their political catchphrases.

And now Trump owns the slogan for the purposes of ‘promoting public awareness of political issues and fundraising in the field of politics.’ Even, there is a “Make America Great Again” PAC. Yup, The Donald found another form of income stream revenue:

Title IX Regulations Are Making Universities Act More Like Corporations, AAUP Says

The U.S. Department of Education Office for Civil Rights has pushed colleges and universities toward acting more like corporations in handling sexual assault and harassment cases, a new report argues.

Many schools working to change their policies to better comply with the gender equity law Title IX are doing it solely to avoid federal investigations and lawsuits, not to actually stamp out sexual violence on campus, the American Association of University Professors claims in a draft report released Thursday. In the process, they say, many policies are endangering academic freedom and due process rights of faculty and students.

“This client‐service model can run counter to universities’ educational mission when, as in the case of Title IX, universities may take actions that avoid OCR investigations and private lawsuits but that do not significantly improve gender equity,” the report says.

Instead, the AAUP argues, these steps may “actually exacerbate gender and other inequities on campus.”

Sexual violence in college has received widespread attention in recent years, largely prompted by student activism and complaints that universities mishandled cases, treating victims poorly. There are over 200 ongoing investigations by OCR of colleges allegedly mishandling sexual assault cases.

Read on.

Exxon Mobil must allow climate change vote: SEC

(Reuters) – The U.S. Securities and Exchange Commission has ruled Exxon Mobil Corp (>> Exxon Mobil Corporation) must include a climate change resolution on its annual shareholder proxy, a defeat for the world’s largest publicly traded oil producer, which had argued it already provides adequate carbon disclosures.

In a Tuesday letter to Exxon seen by Reuters, the SEC said the oil producer cannot keep a proposal spearheaded by New York state’s comptroller from a full shareholder vote at the company’s annual meeting in May.

If approved, the proposal would force Exxon to outline specific risks that climate change or legislation designed to curb it could pose to its ability to operate profitably.

Read on.