On November 29, 2011 a federal Judge rejected a $285 million settlement by CitiGroup and the Securities Exchange Commission; wants truth regarding financial markets and Ringling Brothers is to pay $270,000 to settle an animal welfare investigation. On December 6 Massey Energy Co. is to pay $210 million to settle the coal mine accident that occurred in West Virginia last year (there was another mine accident in 2006). The former Massey CEO and Chairman, Don Blankenship, got a $12 million parachute and has been issued a permit in Kentucky under a new name.
December 6 we hear the millionaires working for Fannie Mae and Freddie Mac (Lund, Richard Syron – 2007 earned $18.3 million as CEO of Freddie, Cook, Dallavecchia, Bisenius, and Daniel Mudd – 2007 earned $10.6 million as CEO of Fannie Mae) are standing accused by the US government of civil fraud as they were the ones largely responsible for the mortgage failure. The Securities and Exchange Commission (SEC) is suing them (not the companies) for hiding risky sub-prime mortgage loans. If the SEC wins the suit the 6 executives can be fined but not jailed because only the Justice Department can bring criminal charges. The CA Attorney General is suing Fannie Mae and Freddie Mac.
December 8 Yahoo won a $610 million judgment in an alleged online lottery scam. December 13 the executives charged with causing the biggest bank failure (Washington Mutual) in US history won’t have to pay too much; the federal government sued the CEO for $900 million and the Washington Post reported that the FDIC has settled for only $75 million and most of it will be paid by using the bank’s assets and insurance.
December 12 it’s reported that Arizona wants to begin a strict rule for their police to check the immigration status of anyone they suspect is in the country illegally; the Justice Department is arguing that the federal government should regulate immigration not the states. On December 15 ABC News reported that Arizona’s Maricopa County (population almost 4 million) Sheriff, Joe Arpaio, is under fire. After a 3 year investigation the Justice Department is saying he engages in a pattern or practice of unconstitutional policing, specifically he engages in racial profiling of Latinos and unlawfully stops, detains and arrests Latinos (they’re up to 9 times more likely to be pulled over for a traffic stop). Further they say Latino inmates who did not speak English were punished and denied medical care and people who oppose the department’s policy were frequently jailed for no reason. In one case a legal American was locked up and jailed for 13 days for not having a driver license. ABC showed a young Inmate saying the food is bad and the place is run like a concentration camp. Sheriff Arpaio said he’s an equal opportunity incarcerator, you do something wrong, you lose your privileges and your punished for it. He makes inmates were stripes, pink socks and pink underwear. Arpaio has been in law enforcement for 48 years and said if the Department sues, he’ll see them in court (the Supreme Court is jumping in). On December 30 we were told that Homeland Security launched a hotline for people jailed on immigration charges. On January 1, 2012 ABC News said there were 40,000 bills introduced in governments across the country; 1,000 new laws went into effect today (8 states raised the minimum wage). And Alabama, Georgia, South Carolina and Tennessee are taking immigration into their own hands and following Arizona’s lead because they feel the federal government won’t do their job. I believe that if the Justice Department feels the federal government alone is responsible for the borders that they would totally guard and fund them; they don’t. State National Guards and private citizens have been taking up the cause as US citizens have been getting killed on their own land.
December 16 a former Bernie Madoff Controller pled guilty to conspiracy charges. December 21 Bank of America has to pay $335 million for the defunct Countrywide mortgage mess leaving about 200,000 discriminated victims (steered Blacks and Hispanics with good credit to other lenders) to get up to $2,000 each. The former Countrywide CEO was allowed to keep $400 million when he sold the troubled company to Bank of America. Many are saying that what Countrywide did wasn’t criminal but a violation of civil rights laws.
December 23 a federal judge signed a Default Judgment against Al-Qaeda, Taliban and Iran finding them liable for the 9/11 attacks; I find this a ridiculous waste of time as they’ll never pay up. December 30 a federal judge blocked California’s low carbon fuels rule. On this same date, the Justice Department gave the states the authority to legalize online gambling and lotteries. It was reported that illegal online poker is already a $6 billion business, there are 15 million Americans addicted to gambling and Americans gamble about $1 trillion a year (how will they know if someone is of age). On January 1, 2012 lottery tickets went up to $2; they’re hoping the bigger pots will entice people to play.
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