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Human Rights Alert
12-01-30 Vistas in Legal-Economic Theory: Perpetual corporate immunity as a major intangible capital asset and a driving force in socio-economic development, or lack thereof
A capital asset, which can and should be enumerated. The immunity for past and future criminality is beneficial to the executives, and detrimental to the shareholders. As such, the immunity should be recognized as a driving force in recent mergers and acquisitions. European nations should likewise entertain this analytic framework in contemplating their own "settlements". Welcome to the Robber Baron Revival Era! Willkommen auf der neu Raub Ritter Zeit!
Los Angeles and Jerusalem, January 30 - in view of President Obama's staunch campaign for a US-wide "settlement" of criminality against the People by banking institutions, Joseph Zernik, PhD, of Human Rights Alert (NGO), proposed to the economic/legal community a new theory: Perpetual corporate immunity as a major capital asset.
• The final bill will effectively cover both past and future criminality.
The proposed "settlement" cannot be reasonably deemed applicable only to past conduct. The conduct is ongoing, and part of a pattern of Corporate-Government Partnership in Criminality, patronized by the courts. Therefore, the immunity for past criminality was already in effect prior to President Obama's initiative. As currently presented, the new initiative may need to be periodically renewed. However, this deficiency is likely to be resolved behind closed doors in conference of the House and Senate, in order to streamline the work of future Congresses and to increase long-term markets stability.
• The immunity will be transferable and perpetual.
Legal-economic theorist should recognize that such immunities are already effectively perpetual, pursuant to the US law, and therefore transferable upon mergers, acquisitions, and changes of control. The best case study in this respect is the immunity for both past and future criminality, which had been vested in Countrywide Financial Corporation at least since the early 2000's. Upon close examination of the events since January 2008, one must conclude that it was fully transferable, and since the July 1, 2008 takeover is vested in Bank of America.
• The immunity is a major capital asset, which can, and should be enumerated.
In examining corporate takeovers and acquisitions, the decision making process and accounting, the immunity should be consider a major asset. In the taking over Countrywide Financial Corporation, Bank of America paid ~$4.5 billions in stock. In return, Bank of America received a corporation with billions of dollars in negative assets, billions of dollars in civil legal liabilities, and clear and present criminal liabilities to top it off. The only way to rationalize the transaction within the framework of current legal-economic theory, is to
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assume that the large discrepancy was offset by the transfer of the Countrywide's immunity to Bank of America, even if this part of the transaction was left confidential.
• Perpetual corporate immunity for criminality is a unique corporate asset, with differential
benefits for executives and shareholders. As seen in the Bank of America- Countrywide case, this major asset, had differential effects and yields: Shareholders of Bank of America lost about 90% of the value of their holdings. The executives were vastly enriched.
• The differential effect of this the immunity is a major driving force in contemporary socio-
economic development, or lack thereof. This differential effect can be explained by the fact that the market implicitly comprehended the nature of the transactions. Following the merger, some analysts described Bank of America quarterly reports as "delusional". Obviously, there was no concern in Bank of America with filing fraudulent reports. Current share price reflects market sentiments regarding this management style -Corporate-Government Partnership in Criminality. On the other hand, the same legal-economic factors led to continued escalation in executives' compensation. The differential effect should be recognized as a major driving force in contemporary socio-economic development, or lack thereof.
• European nations should entertain this analytic framework
In contemplating their own "settlements", European nations should also consider the expected outcome economic stagnation and impoverishment of the People. The immunity provided to the medieval German Robber Barons and the immunity acquired by American corporations during the American Robber Baron Era, are clear historic precedents of the same processes. Welcome to the Robber Baron Revival Era! Willkommen auf der neue Raub Ritter Zeit! LINKS:
 11-08-08 PRESS RELEASE: Fraud and Corruption in the US Courts are Tightly Linked to Failing Banking Regulation and the Global Economic Crisis presentation in the 16th World Criminology Congress, Japan http://www.scribd.com/doc/62153608/  10-05-05 Countrywide, Bank of America [NYSE;BAC], and its President Brian Moynihan Compilation of Records Evidence of Racketeering http://www.scribd.com/doc/30975368/  10-05-05 Chairs of US Congress Committees of the Judiciary and Banking Are Requested to Join Senator Feinstein's Inquiries on Comptroller of the Currency http://www.scribd.com/doc/30979882/  10-07-06 Complaint Filed with US Attorney Office Los Angeles Against Moynihan Bank of America [NYSE:BAC] Bryan Cave LLP Alleging Racketeering http://www.scribd.com/doc/33971099/  10-07-06 Complaint Filed with US Attorney Office, Los Angeles, Against Brian Moynihan, Bank of America [NYSE:BAC], Bryan Cave LLP, Alleging Racketeering and Large Scale Financial Institution Fraud http://www.scribd.com/doc/33971099/ ______ Joseph Zernik, PhD Human Rights Alert (NGO) The 2010 submission of Human Rights Alert to the Human Rights Council (HRC) of the United Nations was reviewed by the HRC professional staff and incorporated in the official HRC Professional Staff Report with a note referring to “corruption of the courts and the legal profession and discrimination by law enforcement in California.” The 2010 UN UPR report called upon the United States to stop executions, restore habeas corpus and close GITMO, abolish slavery, criminalize torture... _____________________________ Take away justice, then, and what are governments but great bandit bands? Saint Augustine, Civitas Dei (City of God,4.4) _____________________________ Boycott the US presidential vote! It only legitimizes the illegitimate... 11-12-10 Where Should #Occupy Go Next? Civil Disobedience in the Footsteps of Thoreau and Gandhi! http://www.scribd.com/doc/75348301/ Secede! The US in its current form is simply unmanageable... 12-01-01 Secession - A Smart Business Move! http://www.scribd.com/doc/76877453/ _____________________________
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WHAT DID THE EXPERT SAY ABOUT THE CURRENT FINANCIAL CRISIS? * "I think it's difficult to find a fraud of this size on the U.S. court system in U.S. history," said Raymond Brescia, a visiting professor at Yale Law School who has written articles analyzing the role of courts in the financial crisis. "I can't think of one where you have literally tens of thousands of fraudulent documents filed in tens of thousands of cases." Reuters (Jan 22, 2012) http://www.scribd.com/doc/79572282/ * Foreclosure fraud: The homeowner nightmares continue CNN (April 7, 2011) * About 3 million homes have been repossessed since the housing boom ended in 2006… That number could balloon to about 6 millionby 2013 Bloomberg (January 2011) * "...a system in which only the little people have to obey the law, while the rich, and bankers especially, can cheat and defraud without consequences." http://www.scribd.com/doc/50753639/ Prof Paul Krugman, MIT (2011) _____________________________ WHAT DID THE EXPERTS SAY ABOUT THE JUSTICE SYSTEM IN LOS ANGELES COUNTY, CALIFORNIA? * "...judges tried and sentenced a staggering number of people for crimes they did not commit." Prof David Burcham, Dean, Loyola Law School, LA (2001) http://www.scribd.com/doc/29043589/ * "This is conduct associated with the most repressive dictators and police states... and judges must share responsibility when innocent people are convicted." Prof Erwin Chemerinsky, Dean, Irvine Law School (2001) http://www.scribd.com/doc/27433920/ * "Innocent people remain in prison" * "...the LA Superior Court and the DA office, the two other parts of the justice system that the Blue Panel Report recommends must be investigated relative to the integrity of the system, have not produced any response that we know of..." LAPD Blue Ribbon Review Panel Report (2006) http://www.scribd.com/doc/24902306 / _____________________________ WHAT DID THE EXPERTS SAY ABOUT THE JUSTICE SYSTEM IN CALIFORNIA? * "...corruption of the courts and the legal profession and discrimination by law enforcement in California." United Nations Human Rights Council Staff Report (2010) http://www.scribd.com/doc/38566837/ _____________________________ WHAT DID THE EXPERTS SAY ABOUT THE STATE COURTS IN THE UNITED STATES? * "On July 26, 2010, Laurence Tribe, Senior Counsel for the United States Department of Justice, Access to Justice Initiative, delivered an important speech to the Conference of Chief Justices, challenging them to halt the disintegration of our state justice systems before they become indistinguishable from courts of third world nations." Prof Laurence Tribe, Harvard Law School (2010), per National Defender Leadership Institute (2010) http://www.nlada.net/library/article/national_dojspeechto%20chiefjustice07-26-2010_gideonalert _____________________________ WHAT DID THE EXPERTS SAY ABOUT THE CONDITIONS IN THE PRISON IN MONROE COUNTY, TENESSEE? * "What goes on there is more like gulags of centuries ago." ACLU http://www.scribd.com/doc/72546279/ _____________________________ WHAT DID THE EXPERTS SAY ABOUT THE SUPREME COURT OF THE UNITED STATES? * "More than 100 law professors have signed on to a letter released today that proposes congressional hearings and legislation aimed at fashioning "mandatory and enforceable" ethics rules for Supreme Court justices for the first time. The effort, coordinated by the liberal Alliance for Justice, was triggered by "recent media reports," the letter said, apparently referring to stories of meetings and other potential conflicts of interest involving Justices Antonin Scalia and Clarence Thomas among others." More than 100 law professors, as reported by the Blog of the Legal Times (February 2011) http://www.scribd.com/doc/49586436/ _____________________________ WHAT DID CHIEF JUDGE OF THE US COURT OF APPEALS, 5TH CIRCUIT, SAY ABOUT THE US JUSTICE SYSTEM? * "The American legal system has been corrupted almost beyond recognition..." Chief Judge, US Court of Appeals, 5th Circuit, Edith Jones, speaking before the Federalist Society of Harvard Law School (February 2003) http://www.scribd.com/doc/50137887/ _____________________________ WHAT DID THE CHAIR OF THE SENATE JUDICIARY COMMITTEE SAY ABOUT THE US JUSTICE SYSTEM? * In a speech in Georgetown University, Senator Leahy, Chair of the Senate Judiciary Committee called for a "Truth and Reconciliation Commission" on the US Department of Justice. Transcript of Senator Leahy speech (2009) http://www.scribd.com/doc/38472251/
~ If it ain't a Party, it ain't my occupation ~ #OccuParty Jerusalem-AlQuds! August 17, 2012 Love, Peace, Justice
January 31, 2012
Empowering the People through a dance/music/art/study/pray summer celebration
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