STOCK MARKET WATCH -- Thursday, 12 January 2012

[Demeter]

22. Full-Blown Civil War Erupts On Wall Street – Financial Elite Start Turning On Each Other

http://wakeup-world.com/2011/09/06/full-blown-civil-war-erupts-on-wall-street-financial-elite-start-turning-on-each-other/#comments

Finally, after trillions in fraudulent activity, trillions in bailouts, trillions in printed money, billions in political bribing and billions in bonuses, the criminal cartel members on Wall Street are beginning to get what they deserve. As the Eurozone is coming apart at the seams and as the US economy grinds to a halt, the financial elite are starting to turn on each other. The lawsuits are piling up fast. Here’s an extensive roundup:

First up, this shockingly huge $196 billion lawsuit just filed against 17 major banks on behalf of Fannie Mae and Freddie Mac. Bank of America is severely exposed in this lawsuit. As the parent company of Countrywide and Merrill Lynch they are on the hook for $57.4 billion. JP Morgan is next in the line of fire with $33 billion. And many death spiraling European banks are facing billions in losses as well.

FHA Files a $196 Billion Lawsuit Against 17 Banks

The Federal Housing Finance Agency (FHFA), as conservator for Fannie Mae and Freddie Mac (the Enterprises), today filed lawsuits against 17 financial institutions, certain of their officers and various unaffiliated lead underwriters. The suits allege violations of federal securities laws and common law in the sale of residential private-label mortgage-backed securities (PLS) to the Enterprises.

Complaints have been filed against the following lead defendants, in alphabetical order:

1. Ally Financial Inc. f/k/a GMAC, LLC – $6 billion
2. Bank of America Corporation – $6 billion
3. Barclays Bank PLC – $4.9 billion
4. Citigroup, Inc. – $3.5 billion
5. Countrywide Financial Corporation -$26.6 billion
6. Credit Suisse Holdings (USA), Inc. – $14.1 billion
7. Deutsche Bank AG – $14.2 billion
8. First Horizon National Corporation – $883 million
9. General Electric Company – $549 million
10. Goldman Sachs & Co. – $11.1 billion
11. HSBC North America Holdings, Inc. – $6.2 billion
12. JPMorgan Chase & Co. – $33 billion
13. Merrill Lynch & Co. / First Franklin Financial Corp. – $24.8 billion
14. Morgan Stanley – $10.6 billion
15. Nomura Holding America Inc. – $2 billion
16. The Royal Bank of Scotland Group PLC – $30.4 billion
17. Société Générale – $1.3 billion


These complaints were filed in federal or state court in New York or the federal court in Connecticut. The complaints seek damages and civil penalties under the Securities Act of 1933, similar in content to the complaint FHFA filed against UBS Americas, Inc. on July 27, 2011. In addition, each complaint seeks compensatory damages for negligent misrepresentation. Certain complaints also allege state securities law violations or common law fraud...

And the suits just keep coming…

BofA sued over $1.75 billion Countrywide mortgage pool

Bank of America kept AIG legal threat under wraps

Nevada Lawsuit Shows Bank of America’s Criminal Incompetence

Nevada Wallops Bank of America With Sweeping Suit; Nationwide Foreclosure Settlement in Peril

FDIC Objects to Bank of America’s $8.5 Billion Mortgage-Bond Accord

Fed asks Bank of America to list contingency plan: report

Bombshell Admission of Failed Securitization Process in American Home Mortgage Servicing/LPS Lawsuit

Fraudclosure: MERS Case Filed With Supreme Court

Iowa Says State AG Accord Won’t Release Banks From Liability

Fed Launches New Formal Enforcement Action Against Goldman Sachs To Review Foreclosure Practices

Goldman Sachs, Firms Agree With Regulator To End ‘Robo-Signing’ Foreclosure Practices

Banks still robo-signing, filing doubtful foreclosure documents

JPMorgan fined for contravening Iran, Cuba sanctions

This Is Considered Punishment? The Federal Reserve Wells Fargo Farce

Exclusive: Regulators seek high-frequency trading secrets

Collapse Roundup #5: Goliath On The Ropes, Big Banks Getting Hit Hard, It’s A “Bloodbath” As Wall Street’s Crimes Blow Up In Their Face

Goldman Sachs TANKS After CEO Lloyd Blankfein Hires Famous Defense Lawyer

MOODY’S ANALYST BREAKS SILENCE: Says Ratings Agency Rotten To Core With Conflicts

Matt Taibbi Exposes How SEC Shredded Thousands of Investigations

Wall Street Pentagon Papers Part III – Are The Federal Reserve’s Crimes Still Too Big To Comprehend?

More on how the GAO’s Fed audit failed to disclose some dirty secrets about BlackRock and JP Morgan

Report Says Bear Stearns Executives Sold Illegal RMBS and Covered It Up

(LINKS TO THESE ARTICLES AT ORIGINAL LINK)

We need to keep in mind that the Federal Reserve has known about all of this criminal activity from the start. Yet, they have done everything they could, and are still trying, to keep this criminal operation up and running. As all these criminal banks begin to blow up, let’s not forget who their central bank is and what they have done to the American people.