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Urgent: Arrests Imminent

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Posted

So we're continue this non-event in 2013 huh?

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Final green light was given last night.

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He said the first arrests will be:

Hillary Clinton - as soon as she come back on US soil. She will be handcuffed at taken off the plane.

Eric Holder - for mounting evidence things going much bigger than Fast & Furious.

Valerie Jarrett - for some illegal activity in the white house.

Rahm Emmanuelle - For illegal activities in Chicago and at the white house

George Bush Sr. - For War Crime and international extortion and drug running.

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Here's a list ok

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Posted

I don't have any free money yet.

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I don't have any free money yet.

it's coming...

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Posted

Interesting that this has been the most popular topic in the tinderbox.... maybe all time.

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SWISS BANK WEGELIN TO CLOSE AFTER GUILTY PLEA

By Nate Raymond and Lynnley Browning

NEW YORK | Fri Jan 4, 2013 8:27am EST

(Reuters) - Wegelin & Co, the oldest Swiss private bank, said on Thursday it would shut its doors permanently after more than 2 1/2 centuries, following its guilty plea to charges of helping wealthy Americans evade taxes through secret accounts.

The plea, in U.S. District Court in Manhattan, marks the death knell for one of Switzerland's most storied banks, whose original European clients pre-date the American Revolution. It is also potentially a major turning point in a battle by U.S. authorities against Swiss bank secrecy.

A major question was left hanging by the plea: Has the bank turned over, or does it plan to disclose, names of American clients to U.S. authorities? That is a key demand in a broad U.S. investigation of tax evasion through Swiss banks.

"It is unclear whether the bank was required to turn over American client names who held secret Swiss bank accounts," said Jeffrey Neiman, a former federal prosecutor involved in other Swiss bank investigations who is now in private law practice in Fort Lauderdale, Florida.

"What is clear is that the Justice Department is aggressively pursuing foreign banks who have helped Americans commit overseas tax evasion," he said.

Charles Miller, a Justice Department spokesman, declined to comment immediately.

Wegelin admitted to charges of conspiracy in helping Americans evade taxes on at least $1.2 billion for nearly a decade. Wegelin agreed to pay $57.8 million to the United States in restitution and fines.

Otto Bruderer, a managing partner at the bank, said in court that "Wegelin was aware that this conduct was wrong."

He said that "from about 2002 through about 2010, Wegelin agreed with certain U.S. taxpayers to evade the U.S. tax obligations of these U.S. taxpayer clients, who filed false tax returns with the IRS."

INITIALLY VOWED TO RESIST

When Wegelin last February became the first foreign bank in recent memory to be indicted by U.S. authorities, it vowed to resist the charges. The bank, founded in 1741, was declared a fugitive from justice when its Swiss-based executives failed to appear in U.S. court.

The surprise plea effectively ended the U.S. case against Wegelin, one of the most aggressive bank crackdowns in U.S. history.

"Once the matter is finally concluded, Wegelin will cease to operate as a bank," Wegelin said in a statement on Thursday from its headquarters in the remote, small town of St. Gallen next to the Appenzell Alps near the German-Austrian border.

But the fate of three Wegelin bankers, indicted in January 2012 on charges later modified to include the bank, remains up in the air. Under criminal procedural rules, the cases of the three bankers - Michael Berlinka, Urs Frei and Roger Keller - are still pending.,

Although Wegelin had about a dozen branches, all in Switzerland, at the time of its indictment, it moved quickly to wind down its business, partly through a sale of its non-U.S. assets to regional Swiss bank Raiffeisen Gruppe.

A corporate indictment can be a death knell. In 2002, accounting firm Arthur Andersen went out of business after being found guilty over its role in failed energy company Enron Corp. A 2005 Supreme Court ruling later overturned the conviction, but it was too late to save the company.

Wegelin, a partnership of Swiss private bankers, was already a shadow of its former self - it effectively broke itself up following the indictment last year by selling the non-U.S. portion of its business.

Dozens of Swiss bankers and their clients have been indicted in recent years, following a 2009 agreement by UBS AG, the largest Swiss bank, to enter into a deferred-prosecution agreement, turn over 4,450 client names and pay a $780 million fine after admitting to criminal wrongdoing in selling tax-evasion services to wealthy Americans.

'WAKE-UP CALL'

William Sharp, a tax lawyer in Tampa, Florida, with many U.S. clients of Swiss banks, said Wegelin's plea "should serve as a wake-up call" to the world banking community servicing U.S. clients to takes steps to ensure compliance with U.S. law.

Sharp called Wegelin's change of heart "shocking."

Banks under U.S. criminal investigation in the wider probe include Credit Suisse, which disclosed last July it had received a target letter saying it was under a grand jury investigation.

Zurich-based Julius Baer and some cantonal, or regional, banks are also under scrutiny, sources familiar with the probes previously told Reuters. So are UK-based HSBC Holdings and three Israeli banks, Hapoalim, Mizrahi-Tefahot Bank Ltd and Bank Leumi, sources also said previously.

Those banks have not commented on the inquiries.

In a statement after the plea, Assistant U.S. Attorney General Kathryn Keneally said it was a top Justice Department priority "to find those who continue to shirk their tax obligations," as well as those who help them and profit from it.

"The best deal now for these folks is to come in and 'get right' with the IRS, before either the IRS or the Justice Department finds them," she said.

Under its plea, Wegelin agreed to pay the $20 million in restitution to the IRS as well a civil forfeiture of $15.8 million, the Justice Department said.

Wegelin also agreed to pay an additional $22.05 million fine, the Justice Department said. U.S. District Judge Jed Rakoff, who must approve the monetary penalties, set a hearing in the case for March 4 for sentencing.

Last year, the U.S. government separately seized more than $16 million of Wegelin funds in a UBS AG account in Stamford, Connecticut, via a civil forfeiture complaint.

Since Wegelin has no branches outside Switzerland, it used UBS for correspondent banking services, a standard industry practice, to handle money for U.S.-based clients.

In court papers, Bruderer said that Wegelin "believed it would not be prosecuted in the United States for this conduct because it had no branches or offices in the United States and because of its understanding that it acted in accordance with, and not in violation of, Swiss law and that such conduct was common in the Swiss banking industry."

The case is U.S. v. Wegelin & Co et al, U.S. District Court, Southern District of New York, No. 12-cr-00002.

(Additional reporting by Martin De Sa'Pinto in Zurich; Editing by John Wallace, Steve Orlofsky and Peter Cooney)

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BANK OF AMERICA IN $10B-PLUS MORTGAGE SETTLEMENT

Associated Press – 2 hrs 52 mins ago

Bank of America Corp. says it will spend more than $10 billion to settle mortgage claims …more

CHARLOTTE, N.C. (AP) — Bank of America says it will spend more than $10 billion to settle mortgage claims resulting from the housing meltdown.

Under the deal announced Monday, the bank will pay $3.6 billion to Fannie Mae and buy back $6.75 billion in loans that the North Carolina-based bank and its Countrywide banking unit sold to the government agency from Jan. 1, 2000 through Dec. 31, 2008. That includes about 30,000 loans.

Its shares briefly edged up 9 cents to $12.20 in morning trading, its highest level since May 2011.

CEO Brian Moynihan said the agreements were "a significant step" in resolving the bank's remaining legacy mortgage issues while streamlining the company and reducing future expenses.

Bank of America bought Countrywide Financial Corp. in July 2008, just before the financial crisis. Countrywide was a giant in mortgage lending, but was also known for approving risky loans.

Fannie Mae and Freddie Mac, which packaged loans into securities and sold them to investors, were effectively nationalized in 2008 when they nearly collapsed under the weight of their mortgage losses.

Bank of America's purchase of Countrywide originally was lauded by lawmakers because the bank was viewed as stepping in to eliminate a bad actor from the mortgage market. But instead of padding Bank of America's mortgage business, the purchase has drawn a drumbeat of regulatory fines, lawsuits and losses.

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Posted

This may just in fact be my favorite thread on the huddle

2 people like this

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Posted

Yo Randy Pauls grandkid was arrested

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Posted

From back in October...

CARGO SHIP CARRYING 700 TONS GOLD VANISHES IN SEA OF OKHOTSK OFF RUSSIA

OCTOBER 29, 2012 BY THE DOC

*Breaking*

A cargo ship carrying 700 tons of gold ore has vanished late Sunday in the Sea of Okhotsk. A distress beacon was reportedly activated late Sunday, but Russian rescue operations have had no success locating the wreckage or survivors:

A sonar distress beacon was automatically activated near Feklistov Island in the Shantarsk Archipelago on Sunday, Russia’s Emergency Ministry reported. The tanker Novik was the first to arrive at the scene, but found no wreckage or survivors. The rescue operation was complicated by severe weather, and waves up to four meters high.

In other news, the FED reported Monday that Germany will be allowed to repatriate a portion of it’s gold reserves after all.

Full report on the lost crew, ship, and treasure below:

5 rescue vessels continue the search Monday:

Cargo carrier Amurskoe disappeared in the Sea of Okhotsk while carrying 700 tons of gold ore. Three ships, an amphibious aircraft and a helicopter are undertaking search and rescue operations to find the eight crewmembers of the lost vessel.

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Posted

No free money yet.

1 person likes this

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Posted

There's a lot more to the story. From what I'm gathering the powers that be will try to use this as a false flag alien invasion.

We need to talk. I've heard some pretty interesting things lately.

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