Congress thinks were stupid with phony insider reform

                                                                    As we posted here, 60 minutes on congressional insider trading, the cesspool of traitors Congress has the privilege of not abiding by laws the rest of us must go by.  But hey, thats o.k. it's our trusted elected servants right. Why should be entitled to use the power of their positions to get rich first.  Maybe second to because after all, when is it that they actually serve us?

From  the Wall Street Journal (emphasis and comments as always we are guilty of):

Members of Congress already get better health insurance and retirement benefits than other Americans. They are about to get better insider trading laws as well.

So this is how it works. People get pissed because congress uses their position of power to do what is illegal for everybody else. So what do they do? They increase their potential to profit off their elected positions! 

Several academic studies show that the investment portfolios of congressmen and senators consistently outperform stock indices like the Dow and the S&P 500, as well as the portfolios of virtually all professional investors. Congressmen do better to an extent that is statistically significant, according to studies including a 2004 article about "abnormal" Senate returns by Alan J. Ziobrowski, Ping Cheng, James W. Boyd and Brigitte J. Ziobrowski in the Journal of Financial and Qualitative Analysis. The authors published a similar study of the House this year.

Democrats' portfolios outperform the market by a whopping 9%. Republicans do well, though not quite as well. And the trading is widespread, although a higher percentage of senators than representatives trade—which is not surprising because senators outperform the market by an astonishing 12% on an annual basis.

How can that be astonishing. When you have an edge no one else in the country has 12% is only testament to their stupidity. Yet they are in control of our money. 

These results are not due to luck or the financial acumen of elected officials. They can be explained only by insider trading based on the nonpublic information that politicians obtain in the course of their official duties.

Strangely, while insider trading by corporate insiders has long been the white collar crime equivalent of a major felony, the Securities and Exchange Commission has determined that insider trading laws do not apply to members of Congress or their staff. That is because, according to the SEC at least, these public officials do not owe the same legal duty of confidentiality that makes insider trading illegal by non-politicians.

And why is that we might wonder. No we won't wonder, we know. It is an incestuous relationship between corporations, lobbyist, politicians and those that are supposed to police them!

Corrupt banks get another pass, robo signing reprieve

We knew it was to good to last. On November 29 of this year we posted, Judge Rakoff, Citigroup and the American patsy  Wherein U.S. District Judge Rakoff  rejected a settlement between Citigroup and the Securities and Exchange Commission, aka Federally paid porn aficionados, over mortgage securities fraud.  You see the Banks love settling these bothersome little violations of the law out of court in a civil settlement because;


A. The settlement doesn't come close to the actual amount of money they "ripped off" and
B.  They do not have to admit wrong doing insuring that none of them go to freaking jail where they belong. 

Needless to say there was talk at the timme that the Judge would never actually go through with holding their feet to the fire.  After all, there is a lot of money available and everybody has a price in traditional moral Christian America That currently has Devil spawn Gingrich in the lead.

So of coure we are not surprised when we see the headline from the Wall Street Journal:

Five large lenders could be forced to make concessions worth roughly $19 billion as bank representatives and government officials push to put the finishing touches on a settlement of most state and federal investigations of alleged foreclosure improprieties.

  Housing and Urban Development Secretary Shaun Donovan and state officials hope to reach a deal as soon as this week, though any agreement could be delayed by unresolved issues including the naming of a monitor to oversee the agreement.

 The settlement would end months-long negotiations among federal officials, state attorneys general and the nation's five largest mortgage servicers: Ally Financial Inc., Bank ...

Ah yes, American Jurisprudence and law enforcement at it's finest.  You see the states are just peechy keen on these settlements because they get a chunk of change to put in their kitties to misappropriate as they always do and the scams repeat themselves because why shouldn't they?  After all, if you get caught you not only don't go to jail, you don't even get charged and make a profit to boot.

Now what about the individuals that got screwed and lost their homes or suffered other financial loss as a result of Banker Rape.  Will they be made whole?  Will they receive any money back on their losses?

Got money in the Bank? Think FDIC means something? WRONG

There is a new word, to us anyway, that is starting to buzz. It is called "Clawbacks."  This where you take your money out of a U.S. bank, it goes under, it then as the right to ask you for some money back. If you can get it to begin with.  We are going to guess you have heard about the liquidity problem in Europe. Well Europe is way across the ocean and does not effect you right? Big time WRONG!!!!

You know it is getting bad when banks and investment houses start laying people off and that is what they are currently doing in the U.S. of A.  But here is the rube.  See they lay off a Bankster who has received bonuses. And then they go after the laid off worker to give the bonuses back.  That is referred to as Clawback.  Now follow us along here because you may wish to know just how at risk your dollars in the bank are.  Or not. In that case, quit reading.

Sometimes when I don't get something I have to check in with someone like Karl Denninger, the ticker man. Not because i feel some sort of affinity with him because he to has no problem getting involved and then telling you in plain english why said involvement sucked, ex. Tea Party.  No we like to check in with him because he can translate  arcane banker language in a way this, writer anyway, can understand. That is no easy feat.  But all that aside he has just written a post that is extremely worrying if you have even one dollar in the bank. Because no matter how insured you bank maybe, they can have insurance encompassing all the letters of the alphabet, but  you ain't getting squat back. We will shut up now and let his post do the talking.

Let's Make The Clawback Risk REAL

 

One of the forum members pointed out something that was obvious to me when I wrote this morning's Ticker, but might have gone over your head.

I want to make absolutely sure it doesn't go over your head because if you're wrong about this you could lose everything in your bank and investment accounts -- every single dime.

ABATE of PA and AMA MOTORCYCLE legislative Alerts

ACT NOW !!! 

LEGISLATIVE ALERT !!!   ACT NOW AND CALL !!! NOTHING IS FREE, NOT EVEN FREEDOM!!!

ED. Note: Nothing is free people, learn from the past. Increasingly the motorcycle safety grants coming out out of Washington are being used for so called "Safety Checks".  These are not safety checks! They are bogus attempts to disguise the violation of your constitutional rights by interfering with your right to travel, detaining you with out cause, violating your 4th and attempts to force you to incriminate yourself.

In some states these funds are being administered by agencies involved with criminal justice issues that have no standing a Safety technocrats!

Combine these laws with the threat of the  2012 National Defense Authorization act.  

Sec. 1867 and you have a recipe for "vanishing Bikers".  Do not  this can not happen to you. Martin Armstrong was kept in prison 7 plus years on a civil contempt charge with no criminal prosecution! Not only ACT NOW, Hell act yesterday. TIME IS SHORT!

 

Protect Motorcycle Safety Grants and Fight Helmet Mandates with One CallCall Your Senator on the Committee Immediately Please call: • U.S. Senator Patrick Toomey (R-PA) Instructions Call Here: (202) 224-4254 Washington, D.C. office of U.S. Senator Patrick Toomey (please call between 9am & 5pm) Talking Points: 1) Please urge the Senator to vote “No” on Lautenberg Amendment #1 to S. 1449. The amendment violates the original intent of the motorcyclist safety grant program that was supported by the entire motorcycling community in 2005. 2) Urge the Senator to vote “Yes” on the DeMint Amendments #1 & #18 to S. 1449. These amendments would remove language to lift the ban on the National Highway Traffic Safety Administration lobbying States and further block the use of federal tax dollars to unfairly influence State law-making decisions. 3) Urge the Senator to vote “Yes” on DeMint Amendment #2 to S. 1449 in order to strike “motorcycle helmet” from the modified definition of “motor vehicle equipment.”

 

Bandidos MC, U.S. Defenders S.1867 Alert

H/T GoldIron - National Commander of the U.S. Defenders and Bandido member Gimmie Jimmie has sent out the Alert below referencing s. 1867,   2012 National Defense Authorization act.   We consider this a positive in that even Bikers are getting the message that this BILL IS FREAKING DANGEROUS!  

RUSH-WE NEED CALLS TODAY. To all TMRA2 members, please contact the

president right away and ask him to veto S.1867. Here is the contact
information: Please keep calling the number until you get through.

E-mail: president@whitehouse.gov
Phone: (202) 456-1414
Fax: (202) 456-2461
Address:
The White House
1600 Pennsylvania Ave., NW
Washington, DC 20500

latest from Senator Rand Paul on S.1867:
http://dailycapitalist.com/2011/12/05/senator-rand-paul-on-the-gutting-of-the-bill-of-rights/

Here is what Judge Andrew P. Napolitano said recently on his show Freedom Watch, about s.1867 "While you were shopping and dining over Thanksgiving, and maybe watching some football games, Big Government Republicans and Democrats were busy shredding the last vestiges of the Constitution … they're talking about inserting the Army into domestic law enforcement."

Napolitano then quoted Republican Senator Lindsay Graham (R-SC) as saying
"The homeland is part of the battlefield and people can be held without trial whether an American citizen or not."
Please read the Call of Action below and call immediately:

US Defenders,
Never before has there been such an immediate challenge facing Americans, our community of motorcyclists must unite as one to face the rampant tyranny that our government is trying to enforce. The US Defenders will have our voices heard! We are implementing an NATIONAL CALL TO ACTION IMMEDIATELY !!!! Every
one of us must let the President know he must VETO this horrible piece of legislation . Along with signing this imbedded petition, you are urged to contact your US Senators and express your utter dismay and disbelief that they would allow this to happen!

The recent bill SB 1867, voted on and passed through the Senate, is called the National Defense Authorization Act for Fiscal Year 2012 , pertaining to the detention and imprisonment of US citizens by the US military without trial or jury is not only a threat to every law-abiding citizen in this country but to our US Constitution as well. Our Bill of Rights has been thrown out the window!!!

We must have 100% US Defenders participation from every state, and fromevery biker that values personal freedom and LIBERTY!

Copy and paste this link to your browser and sigh the petition
https://wwws.whitehouse.gov/petitions#%21/petition/we-people-demand-obama-veto-s-1867-bill-which-views-all-american-citizens-terroristic-threat/S6dkZrsh

Contact President Obama and demand he veto this bill!

SEC. 1031. AFFIRMATION OF AUTHORITY OF THE ARMED FORCES OF THE UNITED
STATES TO DETAIN COVERED PERSONS PURSUANT TO THE AUTHORIZATION FOR USE
OF MILITARY FORCE.

(a) In General- Congress affirms that the authority of the President to use all necessary and appropriate force pursuant to the Authorization for Use of Military Force (Public Law 107-40) includes the authority for the Armed Forces of the United States to detain covered persons (as defined in subsection (b)) pending disposition under the law of war.

(b) Covered Persons- A covered person under this section is any
person as follows:

(1) A person who planned, authorized, committed, or aided the
terrorist attacks that occurred on September 11, 2001, or harbored those responsible for those attacks.

(2) A person who was a part of or substantially supported
al-Qaeda, the Taliban, or associated forces that are engaged in
hostilities against the United States or its coalition partners,
including any person who has committed a belligerent act or has directly supported such hostilities in aid of such enemy forces.

(c) Disposition Under Law of War- The disposition of a person under the law of war as described in subsection (a) may include the following:

(1) Detention under the law of war without trial until the end
of the hostilities authorized by the Authorization for Use of Military
Force.

(2) Trial under chapter 47A of title 10, United States Code (as amended by the Military Commissions Act of 2009 (title XVIII of Public Law 111-84)).

(3) Transfer for trial by an alternative court or competent
tribunal having lawful jurisdiction.

(4) Transfer to the custody or control of the person's country
of origin, any other foreign country, or any other foreign entity.

(d) Construction- Nothing in this section is intended to limit or
expand the authority of the President or the scope of the Authorization for Use of Military Force.

(e) Authorities- Nothing in this section shall be construed to
affect existing law or authorities, relating to the detention of United States citizens, lawful resident aliens of the United States or any other persons who are captured or arrested in the United States.

(f) Requirement for Briefings of Congress- The Secretary of Defense shall regularly brief Congress regarding the application of the authority described in this section, including the organizations,
entities, and individuals considered to be 'covered persons' for
purposes of subsection (b)(2).

http://tinyurl.com/c4w2wdh

 Get busy today!

Bandido Gimmi Jimmy 1%er
National Commander
US Defenders
www.usdefenders.org

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