Had to think long and hard about the name of this new, much needed - GROUP. There are many nationally significant issues in need of discussion. Such as bailouts, mortgage crisis (is it still looming) and/or how many cities, towns, counties, states and even countries that may go bankrupt! Only a few countries consider it true that No One is too big to jail; and the United States (thus far) seems to be the grand pooh-bah on the ill-logic that there are entities among U.S. who are too big to fail.
Hence this Group is named "Too Big to Fail and Too Corrupt to Jail".
I now seek to foster discussions about cases that harms you, U.S., me and our various establishments small and/or vast. Though we are now getting more attention to our eToys debacle in the last few months, than we've received for the last decade plus; I'm still terribly vexed. My radar is bleeping as big as before. When I saw highway signs of free money and parties called me to give them appraisals worthless for $500 each I should have screamed at my friends to avoid the scams. It is now prudent to inform everyone that we are in peril - and no one (apparently) has the desire to address the purple elephants with their neon glow - which, whether you wish to admit it or not, is now stampeding its way to run over all of U.S.
Conspirators are at work among U.S.
----------------------------but Congress has provided U.S. with many remedies!
Pensions and life savings are in harm's way. ObamaCare seeks to help U.S.; but GOP Hobb Goblins are seeking to gut that, take away social security, put seniors to work for the "NO" minimum wage the Koch brothers wish upon U.S. And - all the while - MAJOR cities are going bankrupt. Law firms who had - long ago - started to downsize, are now foaming at the mouth to make your locale go bankrupt, so they can rake in billions. But we are provided watchdogs (who are arguably NOT doing their job). Hence, we need to look at Laws that Congress has provided to U.S. for remedial purposes. Racketeering, Ponzi and other schemes are coming your way. It is a pendulum swinging away at all of U.S.. Our eToys case is living proof that the promise to clean up after Madoff is bogus. Courts, Goldman Sachs, Bain Capital and attorneys at law are openly breaking the law; for the sake of unjust enrichment. Doing so without remorse or relent.
Are you concerned?
You SHOULD BE!
History is Lazy and Seeks to Repeat itself in Contemporary Fashion
Years ago, during my better days, when my simple mind questioned builders & bankers who desired my funding for their Real Estate projects in the previous decade. They all scoffed at my apprehension and said it was foolish to pass up the unbelievable profit opportunities. They were full of willful blindness to the realities and I've got some friends who have suffered greatly as a result. One even has a 20,000 sq foot homes sitting empty (in Lake Las Vegas).
But the money those folly fools sought of mine was stolen anyway; due to corruption.
As sharp as I and my friends are in business acumen, we still have become serial victims. I worked with one guy (Thane Ritchie) who was taken in to lose hundreds of millions funding Polaroid. If we, business scheme cynics, are able to be bitten - then who is able to be safe?
Thus, this Group will deal with those of U.S. who has studied cases, laws and business issues of major economic consequence. Along with my multiple decades of expertise yours truly has in over 1000 chaotic situations. Having the additional hard knocks schooling on how to battle cronyism & corruption.
Have you heard of Charles "Ponzi"? Do you know what a Ponzi scheme is? This mortgage crisis that many argue, still looms over U.S. waiting to slice the entire country into a shell game; has anyone really given us the true skinny?
Even Greta Van Susterenn was taken in by a Real Estate Ponzi scheme of Reed Slatkin (a former Scientologist). Do you know that her and her husband are very sophisticated business buddies? That Greta knows the law! And - for those of you saying she deserves it, as FOX party; Shame on You. That hateful logic is part of our problem. She's an American citizen with view points that I argue are whacked; but that is NO reason to wish her ill will by a fraudster. You can't wish for harm to another and claim to be a Progressive; we're supposed to be better than that!
Are you aware of why we have United States Trustees? Did you know that it is a "Temporary" program? Can you believe that there are ONLY 21 United States Trustees as our watchdog over all 1 million plus bankruptcies annually? One of the Task Forces set up by the U.S. Trustee program was titled "Truth or Consequences". The special unit brags about getting back $60 million during the correction of 10,000 cases. NOTE: that is $6,000 per case. It costs courts $6000 per day - on average - to operate (rent, guards, maintenance, insurance, clerks, etc., etc. That's not counting the cost of our Police, the United States Trustee's office; and how much time they put into each case with vast personnel.
There's No Cases in Truth or Consequences - about Attorney's Defrauding Clients!
Attorney Greta Van Susteren and Thane Ritchie were Scammed for Millions
If you've followed my battle with Goldman Sachs and Bain Capital for the last 12 years plus, then you know I'm still fighting and have won win a few battles. But I didn't begin to win those battles until I faced the fact my attorneys were scamming me as much as the adversary counsels are. Great Van Susteren is an attorney at law; and she was taken in by a master fraudster. You can too, if your not careful. Thane Ritchie still suffers this very day - from the scams. Mr. Ritchie realizes that law firms have duplicity.
Scammed Thane Ritchie - Turns his Attention to Attorneys Nefarious Deeds
Thane Ritchie hasn't given up either,. His entity Ritchie Capital, is now focused on suing law firms duplicitous. Thane confided in me that, if he could do it all over again, once he realized Tom Petters was a Ponzi schemer; he would spend have his legal defense budget with activists such as yours truly. Because law firms are able to benefit from corruption and corruption is not only hard to prove; it is also hard to get authorities to even consider such is transpiring.
That is specious to me - is it specious to you?
Petters had help, his partner was a lawyer of national prominence - PAUL TRAUB. And that fiend Traub was labeled - June 2012 by the Federal Receiver Doug Kelly - (four years after Petters was raided by the FBI), as the "controller" of Tom Petters Ponzi.
Thane found the corruption around Petters Ponzi so vast that he turned to advertising in the media to address the issues of his companies losing hundreds of millions do a legitimate loan with Polaroid as the security.
Unlike the Madoff scheme that sold pie in the sky promises of returns, Thane Ritchie had invested in a brand name legitimate business entity named POLAROID. He belief he was securing a legitimate asset. But there were (and are) attorneys involved; and one of them was a co-owner of Polaroid (Paul Traub).
Why Thane and I suffer greatly, is simply due to the betrayal of trust of our federal watchdogs and attorneys with bad faith intent like Paul Traub (who is known in New York - even by his former associates - as the "brown bag lord"). Traub is so powerful, he's also a counsel for Mitt Romney and his Bain Capital interests.
Al Capone's Frank Nitti Counsel became Federal Receiver over Capone's Assets
You may be shaking your head right now and saying WTF; but you wouldn't be alone. Thane Ritchie and I are doing the very same thing. Doug Kelley's law firm is Kelly & Wolter. The firm specializes in representing white collar defendants. This is a result of the fact that Douglas Kelley is a former Department of Justice employee from the United States Attorneys office in Minnesota.
Just prior to Tom Petters landing in jail, he had signed over control, via a full power of attorney, to Douglas Kelley's partner Steven E Wolter of the Kelley Wolter law firm. Doing so around September 27, 2008. (please see the former Newspaper editor James L Merriner book on the issue titled; "Ponzi-Dot-Gov: How the Government Defrauds Innocent Citizens" - which goes into how our "watchdog/protectors" fleece victims a 2nd time). What blew even my mind and enraged Thane Ritchie is the fact that Al Capone picked his very own Frank Nitti to be the Federal Receiver over Al Capone's seized assets. Does that sound far-fetched to you? You need only grasp the fact that this happened during the GW Bush era! It is a publicly known fact that Ritchie Capital won a federal receiver in Illinois (Billy Procida). But, when Procida went to MN to do his job per federal court order, Douglas Kelley then panic's and switched roles. Because he was a college classmate of Magistrate Justice Ann Montgomery and worked with her at the DOJ; cronyism became corruption as Doug Kelley was Named as Federal Receiver over Petters Ponzi.
Capone's attorney Can't be a Federal Receiver of Capone's Organized Crime Assets!
But that is exactly what happened; because we live in an illegitimate world. And that unlawful - organized criminal enterprising - is now a part of our federal system of justice. UCLA Law Professor Lynn LoPucki has written a book titled; "Courting Failure: How Competition for Large Bankruptcy Cases Corrupts our Courts". Professor LoPucki also wrote a co-authored paper with Joseph W. Doherty titled; "Routine Illegality". It is a professional work that discusses how judges are now (apparently) making decisions contrary to law (breaching their fiduciary duty) - for the sake of cronyism to local law firms.
Senator John Cornyn States: Pick of Court Venue is like Picking a Verdict
Professor LoPucki has been in Washington D.C. hearings where he discusses the issues and backs it up with empirical data that is hard to dispute; but lawyers who benefit from such and even "our" beloved Senator (now VP) - seeks to refute the evidence, for the sake of protecting the vast legal revenues coming to the state.
Senator John Cornyn agreed with Professor LoPucki's assessment of the issues. In 2005 the well respected entity Legal Times reported on Senator Cornyn's analysis of the facts with his June 6, 2005 OpEd titled: "The Owe US: Companies seeking bankruptcy relief should face creditors in their home court".
With that much public attention being drawn to the matter, the powers that be simply made adjustments. In our eToys case how Traub & Romney's gang are getting "caught", is the fact they lied under oath 100 times. So much so that Traub and the MNAT law firm have confessed supplication of erroneous affidavits to the Delaware Bankruptcy Court at least 34 times. So, in MN, Traub having learned "that" lying/getting caught lesson - simply adjusted. Doug Kelley was Petters attorney - then Doug Kelley became Petters receiver. It is all kosher because Judge Montgomery approved of it - or so they think (WISH). Be that as it may, Senator Cornyn made remarks in his "The Owe US" article that's still apropos;
"current law effectively empowers corporate debtors to pick jurisdictions likely to rule in their favor. This troubling loophole makes it very difficult for ordinary creditors to pursue and receive reasonable compensation. After all, picking the judge isn’t far from picking the verdict. What’s more, if debtors get to pick the jurisdiction, then bankruptcy courts have a disturbing incentive to compete with each other for major bankruptcy cases, by tilting their rulings in favor of corporate debtors and their attorneys. In the Enron case, for example, creditors expect to receive less than 20 cents on the dollar, while attorneys, accountants, and other advisers may collect more than $1 billion in fees".
Senator Cornyn Notes that
----------------- Harvard Law professor Elizabeth Warren was a Reporter
as Senator John Cornyn continued in his "The Owe Us" remarks that;
"Bankruptcy law confers upon bankruptcy judges an enormous amount of discretion—discretion that is largely out of the reach of appellate review. Of course, no one wants to believe that a federal judge would ever distort the law for any reason, let alone in order to improve the court’s docket. Yet there is an undeniable temptation to lean a bit, to exercise discretion in ways that will bring the fame and prestige that come with attracting the nation’s largest and most newsworthy cases.
Indeed, abuses of the current bankruptcy system have now been well-documented by legal practitioners and academics most recently by UCLA law professor Lynn LoPucki, in a comprehensive book published this year titled Courting Failure: How Competition for Big Cases Is Corrupting the Bankruptcy Courts, as well as by Harvard law professor Elizabeth Warren, who served as the reporter for the National Bankruptcy Review Commission, and University of Texas Law professor Jay Westbrook.
As these studies amply demonstrate, consumers, workers, pensioners, and small businesses lose when corporations get to choose who will hear their bankruptcy claims. According to professor LoPucki, approximately half of all recent major bankruptcy reorganizations have failed, requiring repeat bankruptcy filings.
The cause? Reorganization plans OK’d by judges that were geared more to please lawyers and corporate executives than to put the companies themselves back into profitable operation and to secure reasonable compensation for ordinary creditor
Ignore NaySay's and Pay Attention to the Facts for Your Sake!
Now, it is possible, especially given the fact there are many legal eagles among us here at DailyKos; that you are might be assuaged away from your attorney at law anxieties. You will see banter massive, attempting to nix the conversation; but it will not be based upon the facts. Forget about what they say on our eToys case facts (and they're soon going to eat their words anyway). Pay attention to what esteemed persons are saying. That is UCLA Law Prof Lynn LoPucki, Senator John Cornyn and --
That's our beloved Senator Elizabeth Warren remarked upon above!
Unfortunately, I've got my very own group of readily apparent Laser haters who babble B.S. in an effort to obfuscate the issues disingenuously. While they may be able to cajole you into thinking yours truly is simply an odd ball, with an odd ball name and unsophisticated - they are doing a B.S. thing - and are not being truthful.
Many say the same thing about Thane Ritchie. As he is a hedge fund manager, he deserves what he gets. Like "Laser Haas", he's just a narcissist with a quirky moniker. What the hell is a "Thane" and how arrogant is it to have a last name like Ritchie and be rich?
First of all, Thane Ritchie handles many companies. Ritchie Capital, Yorkville and more. To begin to poke holes in the bigotry/bias about the man, let's talk about the fact that he was a jock - a Good Jock. Thane Ritchie was actually drafted by the NFL. He is also a fellow Progressive who loves his Oktober festivals and more. Thane fights bad faith as much as he can. See his First Amendment Blog (HERE). Here's what Hiram High has to say about their alumni Thane Ritchie as a "BIO";
Thane Ritchie is the owner of Ritchie Capital Management, which is a management firm located in Wheaton, Illinois. His full name is actually Aaron Roberts Thane Ritchie. The Thane Ritchie bio for the company starts off when he founded the firm in 1997. The company primarily invests alternative investments such as venture capital, energy and insurance products, and private equity markets. Thane Ritchie received his education from Duke University and Wheaton College.
Thane Ritchie is also an ex-football player who used to play for the Chicago Bears and Pittsburgh Steelers. Additionally, Ritchie is a passionate advocate whose goal is to improve the quality of life for everyone in the world. He believes that a majority of society is living an unhealthy lifestyle. This situation needs to be addressed and everyone should promote medicine and healthy living. He wants organic and natural foods to be accessible to everyone. Ritchie is also very interested in finding alternative energy sources.
Thane Ritchie is "THE" Bob Woodward's G-d Son"
Yep, that's right. Remember the Nixon saga and the fact that he was brought down by Scott Armstrong, along with WaPo reporters Woodward & Bernstein. Therefore Thane Ritchie has the ability to reach out to parties who have defeated super villains. This is why Thane and I worked together. We recognize that our country is being abused by the powers that be, who have gotten more sophisticated in their federal corruption. I'm the one who can go after everyone directly. Thane is responsible for the investments of many and can only go after things in an empirical manner.
Thane Ritchie knows what he is doing; because he comes from the lineage of persons who have done it before. As is remarked upon here by Chicago Magazine, Thane Ritchie is the actual son of Scott Armstrong, the adopted "step-son" of Ritchie and the G-d Son of "The" Bob Woodward.
Therefore, if Greta Van Susteren can get taken, and Thane Ritchie can be fleeced by fraudsters, as sophisticated persons way above U.S. all; then we are all in serious danger of being taken too. The very fact that MN tossed out an Illinois Federal Court appointed Receiver in CORRUPT fashion; by taking Petters (Capone/Ponzi) attorney and making Petters attorney Kelley Wolter the Federal Receiver (as if Frank Nitti could be picked to prosecute Capone issues) - then WHO CAN BE SAFE?
We all can rectify this - if you start to pay attention to the facts and get involved before its too late. No one gives a rat damn if Thane Ritchie or Laser Haas gets fleeced by schemers. Though you may despise corruption, it is highly unlikely that you are going to "re-blog", Tweet, Facebook and/or any other social networking on Thane or Laser issues. That is due to the fact you have bills to pay, children to take care of and friends who are sick.
I understand all of that. But what happens when these rogues turn upon your life savings? Once you become a victim, you are now on my side of the fence; where no one really cares about what happens to you & yours. Suffering will become your daily habit. The inheritance of your children & grand children will be gone and you won't even be able to think about that; because you'll be too busy worrying about the pending foreclosure, rent and changing your life's plan of retiring at 65, to working for minimum wage as a senior citizen - until you pass away. This is because;
Major cities are filing bankruptcy, are your pensions are in peril
But you and I can change all that - Congress has Remedies!
3rd Circuit Affirms Congress Condemnation of Attorney "Bankruptcy Rings"
What I'm going to talk about now, to get this GROUP started, is the fact that the United States Trustee system was created to stop judges from being administrators - so that they could be jurist's. And how it is a well established fact that attorneys will abuse their inside positions of our legal systems at the direct detriment of their clients; be they creditor or debtor. That is a betrayal of trust that exists chiefly due to federal corruption. Our public servants know what's going on; and they don't seem to care if your life time savings and retirement monies get stolen. That SUCKS!
As is detailed above, it is already a known fact that "some" attorneys at law will betray their oath, risk their Bar card and be disloyal to their clients. This is a violation of the Professional Code of Conduct, their Oath's to get their Bar cards and (arguably) a Breach of Fiduciary Duty (and that's a federal crime).
Fortunately, we can put a stop to the insanity and save our pensions from being gobbled up by Second Frauds. Those scam of scams where our "purported" watchdogs and federal systems of justice turn on you and I to devour U.S. victims a 2nd time. For remedial purpose, Congress has provided the 1970 Racketeering Influenced Corrupt Organizations Act ("RICO") as per Section 1962.
The RICO Act was provided by Congress and includes a proviso for John Q Public to address those items that slip through "Prosecutorial Gaps". You and I - believe it or not - are permitted to become "Private Attorney Generals" via Section 1962 (c). Congress not only meant for you and I to utilize the RICO Act; it actually dangled a huge carrot as incentive. Unlike regular fraud statutes - Congress gave the additional incentive to utilize RICO - by the Law granting the remedy of Treble Damages.
We are going to talk about Civil RICO much, in the weeks & months to come. Ever since the Delaware Bankruptcy Court Clerk decided it would single handedly help Mitt Romney get elected; by unlawfully withholding my Motion against Mitt Romney of October 24, 2012 from the public docket record - until (speciously) November 6, 2012. That is when I began to look for a way to go to another court. Thane Ritchie learned that he can't go to MN to get relief from the corruption. So he is suing the law firms who did wrong elsewhere. Delaware won't apply the law to Goldman Sachs and Bain Capital issues. As far as the Delaware Bankruptcy Court is concerned, Goldman Sachs and Bain Capital are Above the Law.
Fortunately for me, the Delaware Bankruptcy Court even went further in its "Color of Law" felony violations of our Civil Rights. The judge ordered that the Clerk of Court is to forbid my filing anything to seek justice. This actually helps me; as it freed me from the prior controls of "jurisdiction". A former Assistant United States Attorney, along with a State Supreme Court justice retired and a Federal Justice's Clerk have given me great instruction and assistance.
I'm going after Romney's Gang with Civil RICO in NY or DC
Meanwhile, and/or during my battle - just in case my enemies do me in - I'd like to take time to help you with your case and/or help you be instructed better - what's really going on out there in the legal realm. Major municipalities are going bankrupt. Fireman, Policeman, government workers are going to watch their retirement funds vanish into yachts & off shore tax havens, unless we do something about it now. We don't need another mortgage type crisis to make U.S. aware anything can happen. Greece and France are examples of what is really going on out there. Attorneys will sell out their clients for the sake of their own unjust enrichment. Congress has addressed that issue too; and the Third Circuit affirmed it. We must be mindful that the United States Trustee's office and the Bankruptcy Code & Rules were amended to;
Stop Bankruptcy Rings
As per the 3rd Circuit Court of the United States in Philadelphia that has jurisdiction over Delaware; lawyers will seize federal estates for themselves nefariously. Doing so at the direct detriment of Creditors & Debtors - Their Clients!
To put a stop to this Congress redesigned the Bankruptcy Code to arrest "Bankruptcy Rings". Unfortunately, the Code & Rule of law adjustment transpired back in 1978. It is now time to revisit the issue; because it is apropos to the present day - as it was decades ago, way back then.
In re Arkansas case affirmed Congress & addressed Bankruptcy Rings
The Matter of Arkansas was concerning a much less ruthless effort, being a “nunc pro tunc” employment, yet the 3rd Circuit felt it necessary to remark upon Cronyism and “Bankruptcy Rings” in the Arkansas matter. Congress meant to send a clear message and warning by changing the law. What is ironic is the fact that the 3rd Circuit is aware of such nefarious possibilities; but refused to address the issues in our eToys case. Be that as it may, it is a fact that attorneys at law will take advantage of being "insiders" of the system and the fact that federal agencies worry about their reputation way more than it should.
Institutions of our Federal system of justice and our Constitution Laws designed by Congress are noble entities. It's the temporary bad faith rogue autocrats within who are to blame. The efforts of end runs around the law and the Court’s auspice would think twice - if there weren't inherent instincts to circle the wagons like a "Blue Wall of Silence" It doesn't work when the police seek to cover up bad faith of their own and it should work for federal corrupt parties either. Where this Circuit specifically remarked;
“It is significant that Congress chose to place the requirement of court approval for the employment of an attorney, accountant, or other professional by the creditors committee directly in the Bankruptcy Code in 1978. 11 U.S.C. § 1103(a). The legislative history makes clear that the 1978 Code was designed to eliminate the abuses and detrimental practices that had been found to prevail. Among such practices was the cronyism of the “bankruptcy ring” and attorney control of bankruptcy cases. In fact, the House Report noted that “in practice . . . the bankruptcy system operates more for the benefit of attorneys than for the benefit of creditors.” H.R. No. 595, 95th Cong., 2d Sess. 92, reprinted in 1978 U.S. Code Cong. & Ad. News 5963, 6053”
Welcome to this Group of Too Big to Fail & Too Big to Jail
Many of you out there, even in this realm, are suffering from abuse of processes. It need not be so. We are a unit. More than that, we a Progressives unified. Just as we rally around specific causes, we can also rally around each other.
It is my hope to help educate you that YOU CAN MAKE A DIFFERENCE!
All of U.S. here and in the country are well aware that Goldman Sachs and others such as Bain Capital appear to be Above the Law. But they are only that way due to our allowing it to be. Regardless of what the naysays may remark in the comments section, the fact of the matter is many people have been brought to justice; because yours truly won't let them win.
Sure, they are powerful beyond comprehension. Judges have been promoted off our cases, Deputy Directors of the Department of Justice helped the bad guys get by with a slap of the wrist. Heck, Romney's law firm even arranged for one of the law firms partners to become a United States Attorney. Be that as it may - they are still in a panic mode and have lost several battles. They are also close to losing the war. Not because of who I am. Yours truly is fat, old, poor and ugly. However, I'm also a victim and they are crooks. That's the truth. And crooks leave evidence trails. The evidence is what will do them in.
Up above you see that Senator Cornyn warns U.S. about "picking verdicts". UCLA Law Professor Lynn LoPucki speaks out on the issues of corruption of our federal courts for the sake of powerful law firms. Harvard Professor Elizabeth Warren is aware of the battles going on with Bain Capital and big banks. And the 3rd Circuit Court affirms the fact of what Congress detailed that;
" - -such practices was the cronyism of the “bankruptcy ring” and attorney control of bankruptcy cases. In fact, the House Report noted that “in practice . . . the bankruptcy system operates more for the benefit of attorneys than for the benefit of creditors.”
If Congress came to the conclusion that the bankruptcy system operates more for the benefit of attorneys; than creditors - What does that suggest to you about the current state of affairs of municipalities filing bankruptcy? If Police, Fireman and other government employees are defenseless against the nefariousness; what are you and I going to do? Here's what our founders said we should do;
"When a long train of abuses and usurpations, pursing invariably the same object envinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security"
Our LAWS protect U.S. from malfeasant parties. We have RICO, if nothing else. You are allowed to become, for the sake of halting Racketeers, a "Private Attorney General". We can hit them where it hurts the most - Their Pockets.
They are only Too Big to Fail and Too Big to Jail
If you permit them to be so!
Do you care to stop them?
Or will you wait till they take YOUR life savings?
Welcome to this Group and the discussions that are to come. I've learned much in the last several months; and Romney's hubris also helped much. Through education, dedication and the truth; a difference is being made.
You can make a difference too - Can Will Do Only If You Try!