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In reply to the discussion: Know your BFEE: Siegelman Judge is a big-time War Profiteer [View all]Octafish
(55,745 posts)17. The Rich evidently enjoy special privileges at DoJ.
Quelle Surprise! The Geithner Doctrine Not Only Puts Banks Above the Law, It Also Serves to Excuse Their Bad Behavior
Naked Capitalism
WEDNESDAY, DECEMBER 19, 2012
Our Treasury Secretary, also known as the Bailouter in Chief and Foamy, has a default explanation for why ordinary citizens must bend over every time banking interests are threatened. The more formal statement of this policy is the Geithner Doctrine, which is nothing must be done that will destablize the banking system. However, Geithner also subscribes to the Humpty Dumpty School of Language, in which words mean what he chooses them to mean, nothing more or less. So destabilize means hurts the profits or reputation of and banking system means any bank that is pretty big and/or well connected.
The most clear-cut example of the Geithner Doctrine in action was when New York State Banking and Financial Services Superintendent Benjamin Lawsky filed an order against Standard Chartered for violations under New York law for money laundering with Iranian banks, among other things. Astonishingly, Federal regulators went on the warpath against Lawsky. As we wrote in August:
It got even better. Standard Chartered, using an analysis cooked up by Promontory Capital, claimed a miniscule $14 million in transactions were out of compliance; Lawsky found a full $250 billion. The Federal regulatory were apparently to accept the Standard Chartered/Promontory argument and Lawsky derailed that.
CONTINUED w/links 'n' details...
http://www.nakedcapitalism.com/2012/12/quelle-surprise-the-geithner-doctrine-not-only-puts-banks-above-the-law-it-also-serves-to-excuse-their-bad-behavior.html
Foamy! I'd LOL, but there's nothing funny about the state of Justice.
Naked Capitalism
WEDNESDAY, DECEMBER 19, 2012
Our Treasury Secretary, also known as the Bailouter in Chief and Foamy, has a default explanation for why ordinary citizens must bend over every time banking interests are threatened. The more formal statement of this policy is the Geithner Doctrine, which is nothing must be done that will destablize the banking system. However, Geithner also subscribes to the Humpty Dumpty School of Language, in which words mean what he chooses them to mean, nothing more or less. So destabilize means hurts the profits or reputation of and banking system means any bank that is pretty big and/or well connected.
The most clear-cut example of the Geithner Doctrine in action was when New York State Banking and Financial Services Superintendent Benjamin Lawsky filed an order against Standard Chartered for violations under New York law for money laundering with Iranian banks, among other things. Astonishingly, Federal regulators went on the warpath against Lawsky. As we wrote in August:
But the Treasury and Fed are also in an uproar, although they have no one to blame but themselves for their discomfort. The Treasury (supposedly the lead actor in investigating terrorist financing and violations of economic sanctions; the Office of Foreign Assets Control is a Treasury operation), Fed, DoJ, District Attorney of New York and the DFS were all investigating Iran transfers at various banks, including SCB, since 2010. The others has settled; SCB was still under investigation and seemed to believe it would get a clean bill of health.
It got even better. Standard Chartered, using an analysis cooked up by Promontory Capital, claimed a miniscule $14 million in transactions were out of compliance; Lawsky found a full $250 billion. The Federal regulatory were apparently to accept the Standard Chartered/Promontory argument and Lawsky derailed that.
CONTINUED w/links 'n' details...
http://www.nakedcapitalism.com/2012/12/quelle-surprise-the-geithner-doctrine-not-only-puts-banks-above-the-law-it-also-serves-to-excuse-their-bad-behavior.html
Foamy! I'd LOL, but there's nothing funny about the state of Justice.
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K&R n/t-I'm getting this belongs in Creative Speculation attacks, brother, on another GD thread.
bobthedrummer
Dec 2012
#2
Dude, you posted a link to a conspiracy site run by an asshat extreme anti-Semite...
SidDithers
Dec 2012
#21
Here's a good link: Elena Kagan and her role as a willing accomplice in Siegelman prosecution
Octafish
Dec 2012
#26
Never heard of him until you brought him up. BTW, why do you crap on my posts so much?
Octafish
Dec 2012
#31
I think I was crapping on bob's post, for using Boyden's web site as a source...
SidDithers
Dec 2012
#33
Where's your contribution, siddithers? NO WHERE are you critical of the GOP persecution of Siegelman
Octafish
Dec 2012
#44
Oh, and your buddy bob just got hidden for linking to whale.to and The Church of Scientology...
SidDithers
Dec 2012
#48