The real reason New York US Attorney Preet Bharara was asked to resign

[Ares]

New York Senator Charles Schumer was instrumental in getting Bharara appointed to that position and in return was asked from time to time to do favors for the senator and his allies. Up until recently, President Trump had no idea what was really going on. Once President Trump’s staff understood the quid pro quo, they had no choice but to ask for Bharara’s resignation.

In 2015, Puerto Rico defaulted on $70 billion in municipal bonds. Those involved panicked. There was ample evidence that the issuing agencies were technically bankrupt when they issued the bonds and that they purchased fraudulent credit ratings from Moody’s Fitch and S&P. Wall Street’s biggest banks then knowingly sold junk bonds to innocent investors, labeling them as safe investments. Everyone made a ton of money, except the innocent investors.

The evidence of this massive criminal act was overwhelming. The lawsuits and complaints to the FBI and SEC were streaming in. Dozens of Wall Street executives could go to prison. This was serious.

The Wall Street executives went to Senator Schumer and asked for two things: that no criminal investigations or prosecutions be considered and that he somehow limit the bondholders’ rights to keep them from suing.

By this time, all congressmen and senators were made fully aware of the potential fraud that had taken place in Puerto Rico. That didn’t stop Senator Schumer; he put together a small team consisting of himself, Elizabeth Warren, Senator Blumenthal and Senator Feinstein. In January 2016, they submitted a rider to the energy bill that unbelievably would prevent the innocent bondholders from suing. All four politicians were quickly rewarded and the Wall Street contributions flooded in.

Then an understanding was stuck with US Attorney Bharara that investigations would be sidetracked and no prosecutions would take place. As pressure was building with the public discovery of hundreds of new felonies related to the issuance of this $70 billion in bonds, the DOJ continued to ignore the evidence and sidetrack all efforts by their field personnel to prosecute. Bharara was paying back his mentor in spades.

The four senators continued to press for a prohibition of law suits, confiscation of what was left of the $70 billion in bond proceeds and a revocation of all the bond holders’ legal rights. They got what they were hoping for in the PROMESA legislation. The politicians then went on to shape an argument that whatever money was left that was not already stolen should be given to underfunded union pensions.

The level of corruption between the bond issuers, the rating agencies, the major Wall Street banks, the DOJ and our politicians would make the mafia blush.

Bharara was given a huge amount of information, including sworn testimony of the fraud and over 10,000 pages of documentary evidence. A second year law student could have convicted all parties under our current RICO statutes yet Bharara did nothing.

https://www.thecaribbeanradio.com/commentary-the-real-reason-new-york-us-attorney-preet-bharara-was-asked-to-resign/

[Joshua01]

Astounding but not unexpected!

[crimethink]

Bharara made some very dangerous enemies by doing something, right, however:


http://www.nydailynews.com/news/crime/holocaust-survivor-scam-nets-42-5-million-17-charged-swindle-prosecutors-article-1.453150

Seventeen people were accused yesterday of stealing $42.5 million from Holocaust survivor funds by ghoulishly recruiting phony Nazi victims.

Six of the alleged scam artists worked for the Conference on Jewish Material Claims Against Germany and helped orchestrate 5,500 bogus applications over 16 years. prosecutors charged.

"If ever there was a cause that you would hope and expect would be immune from base greed and criminal fraud, it would be the Claims Conference," said Manhattan U.S. Attorney Preet Bharara.

The conference administers funds to those who fled Nazi persecution or survived concentration camps. Among those charged was Semyon Domnitser, a former director of the conference who was fired last February.

Officials said the scam operated by creating phony applications with false birth dates and invented histories of persecution to process compensation claims.

In some cases the recipients were born after World War II and at least one person was not even Jewish. When a phony applicant got a check, the scammers were given a cut, Bharara said.

Many of the applicants were recruited from Brooklyn's Russian community, prosecutors said. All those charged hail from Brooklyn. Four have pleaded guilty and are cooperating, officials said.

The Claims Conference contacted the FBI in December 2009 when it suspected the funds were being looted.

"It's disgusting that anyone would steal under these conditions," said the Claims Conference VP Greg Schneider.

He said the fraud went undetected despite regular audits. "They were very good at creating fraudulent documents," he said, noting less than 1% of money distributed was stolen.

One of the funds provides one-time payments of $3,600 to Jews who fled the Nazis. The other provides $411-a-month to poor Jews who spent time in a concentration camp, Jewish ghetto, or had to assume a false name to elude capture.

Funding comes from the German government and more than 600,000 claims have been processed worldwide.


But, there is no question, overall, he was a piece of shit. More:

https://reason.com/blog/2015/06/19/government-stifles-speech

U.S. Attorney Preet Bharara subpoenaed all of the identifying information we had about the authors of such comments as, "Its (sic) judges like these that should be taken out back and shot." And, "Why waste ammunition? Wood chippers get the message across clearly. Especially if you feed them in feet first." This last comment is a well-known Internet reference to the Coen brothers' movie Fargo.

The subpoena also covered such obviously harmless comments as: "I hope there is a special place in hell reserved for that horrible woman," and "I'd prefer a hellish place on Earth be reserved for her as well."

The comments are hyperbolic, in questionable taste–and fully within the norms of Internet commentary.

It's worth stressing that, under established legal precedent, Reason.com (like any other website) is generally not legally responsible for reader comments posted at our site. Still, the chilling effect on Reason and our commenters is tangible. It takes time, money and resources to challenge, or even simply to comply with, such intrusive demands.

The original subpoena, received late on Tuesday, June 2, did not come with a gag order. However, it came with a letter from Bharara and Assistant U.S. Attorney Niketh Velamoor requesting that we refrain from informing any other parties about the subpoena so as to "preserve the confidentiality of the investigation," and that we notify his office in advance if we intended to do so, even though it also said that we were under "no obligation" to keep the subpoena confidential.

[Joshua01]

Good riddance to bad poo
Bharara made some very dangerous enemies by doing something, right, however:


http://www.nydailynews.com/news/crime/holocaust-survivor-scam-nets-42-5-million-17-charged-swindle-prosecutors-article-1.453150

Seventeen people were accused yesterday of stealing $42.5 million from Holocaust survivor funds by ghoulishly recruiting phony Nazi victims.

Six of the alleged scam artists worked for the Conference on Jewish Material Claims Against Germany and helped orchestrate 5,500 bogus applications over 16 years. prosecutors charged.

"If ever there was a cause that you would hope and expect would be immune from base greed and criminal fraud, it would be the Claims Conference," said Manhattan U.S. Attorney Preet Bharara.

The conference administers funds to those who fled Nazi persecution or survived concentration camps. Among those charged was Semyon Domnitser, a former director of the conference who was fired last February.

Officials said the scam operated by creating phony applications with false birth dates and invented histories of persecution to process compensation claims.

In some cases the recipients were born after World War II and at least one person was not even Jewish. When a phony applicant got a check, the scammers were given a cut, Bharara said.

Many of the applicants were recruited from Brooklyn's Russian community, prosecutors said. All those charged hail from Brooklyn. Four have pleaded guilty and are cooperating, officials said.

The Claims Conference contacted the FBI in December 2009 when it suspected the funds were being looted.

"It's disgusting that anyone would steal under these conditions," said the Claims Conference VP Greg Schneider.

He said the fraud went undetected despite regular audits. "They were very good at creating fraudulent documents," he said, noting less than 1% of money distributed was stolen.

One of the funds provides one-time payments of $3,600 to Jews who fled the Nazis. The other provides $411-a-month to poor Jews who spent time in a concentration camp, Jewish ghetto, or had to assume a false name to elude capture.

Funding comes from the German government and more than 600,000 claims have been processed worldwide.


But, there is no question, overall, he was a piece of shit. More:

https://reason.com/blog/2015/06/19/government-stifles-speech

U.S. Attorney Preet Bharara subpoenaed all of the identifying information we had about the authors of such comments as, "Its (sic) judges like these that should be taken out back and shot." And, "Why waste ammunition? Wood chippers get the message across clearly. Especially if you feed them in feet first." This last comment is a well-known Internet reference to the Coen brothers' movie Fargo.

The subpoena also covered such obviously harmless comments as: "I hope there is a special place in hell reserved for that horrible woman," and "I'd prefer a hellish place on Earth be reserved for her as well."

The comments are hyperbolic, in questionable taste–and fully within the norms of Internet commentary.

It's worth stressing that, under established legal precedent, Reason.com (like any other website) is generally not legally responsible for reader comments posted at our site. Still, the chilling effect on Reason and our commenters is tangible. It takes time, money and resources to challenge, or even simply to comply with, such intrusive demands.

The original subpoena, received late on Tuesday, June 2, did not come with a gag order. However, it came with a letter from Bharara and Assistant U.S. Attorney Niketh Velamoor requesting that we refrain from informing any other parties about the subpoena so as to "preserve the confidentiality of the investigation," and that we notify his office in advance if we intended to do so, even though it also said that we were under "no obligation" to keep the subpoena confidential.

[Dachsie]

"Once President Trump’s staff understood the quid pro quo, they had no choice but to ask for Bharara’s resignation.

In 2015, Puerto Rico defaulted on $70 billion in municipal bonds. "

I keep thinking the whole of municipal bonds financial instruments is about to blow up, and I am only referring to U.S. municiple bonds.

"In 2015, Puerto Rico defaulted on $70 billion in municipal bonds. Those involved panicked. There was ample evidence that the issuing agencies were technically bankrupt when they issued the bonds and that they purchased fraudulent credit ratings from Moody’s Fitch and S&P. Wall Street’s biggest banks then knowingly sold junk bonds to innocent investors, labeling them as safe investments. Everyone made a ton of money, except the innocent investors."

I do not exactly see how Puerto Rico made "a ton of money" in this deal. It just looks like PR lent the "full faith and credit and taxing authority" "good" reputation to the bond issue and maybe got a smallish kickback from the Wall Street underwriting banks.

I remember the president of Puerto Rico was quite belligerent to U.S. officials lately and just kept very publicly telling the USA to 'get lost and get out of here. We will have nothing to do with the USA anymore.' Maybe that being gyped on that bond deal by the NY banks explains Puerto Rico's sudden break with the USA. Not sure. It sure looks like the leadership of PR is quite vexed and feels very abused. Had to restrain my language here.

I know Peter Schiff and his EuroPacific Trading Company moved his home and his family to Puerto Rico a few years ago after saying financially and tax wise it was a perfect place to live. I wonder if he and his company are experiencing any negative side effects from his new country's (an unincorporated territory of the USA) break with the USA.


There are many large cities in the USA that are really hurting for funds right now. The Lefties always vote FOR these multiple successive huge bond issues and keep the city's taxpayers and their children indebted for decades. A few governmental entities have defaulted on these loans - Jefferson County Alabama for one involving scam deal by J.P. Morgan against the citizens. I think we will now begin to see more very public defaults on these munis in the near future.

We the people are never able to see what we were supposed to get, that is, what the bonds were advertised to be able to provide for the city. I think when you have crooked mayors and crooked country governments, these bond monies go in to a big ugly slush fund that is just money laundering and payoffs to the personal pockets of the "elected leaders." I notice how meteorically wealthy our newly elected leaders become and how the taxpayers are really sagging under their growing tax burden.

[crimethink]

I remember the president of Puerto Rico was quite belligerent to U.S. officials lately and just kept very publicly telling the USA to 'get lost and get out of here. We will have nothing to do with the USA anymore.' Maybe that being gyped on that bond deal by the NY banks explains Puerto Rico's sudden break with the USA. Not sure. It sure looks like the leadership of PR is quite vexed and feels very abused.


LOL - "abused."

Niggerized Puerto Rico has been a basket case for decades, and a huge drain on the American taxpayers. Puerto Rico has never contributed to the United States.





I know Peter Schiff and his EuroPacific Trading Company moved his home and his family to Puerto Rico a few years ago after saying financially and tax wise it was a perfect place to live. I wonder if he and his company are experiencing any negative side effects from his new country's (an unincorporated territory of the USA) break with the USA.


Jew parasites like Schiff always prioritize money over doing the right thing, or even living in a pleasant place.



I think when you have crooked mayors and crooked country governments, these bond monies go in to a big ugly slush fund that is just money laundering and payoffs to the personal pockets of the "elected leaders."

Sounds like San Juan's "government" and the entire "leadership" of Puerto Rico.