“The US Office of the Comptroller of the Currency (OCC) and the US Federal Reserve agreed today that for now and forever they would not hold banks accountable for illegal activities related to stealing homes from Americans.

They made clear that the rule of law is no longer a rule of law in the United States.

The OCC had let the banksters create a patsy review panel,  Independent Foreclosure Review, tasked with examining foreclosure cases in 2009 and 2010 for instances of abuses, made up of banking insiders. They fully expected that the panel would be able to completely overlook all crimes perpetrated by top banksters.”

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“In a shocking attempt at humor, US Comptroller of the Currency Thomas Curry said the deal would provide quicker relief for struggling homeowners; “Our new course of action will get more money to more people more quickly, and it will speed recovery in the nation’s housing markets”. No one laughed.

Dennis Kelleher, the head of Better Markets, a Washington-based nonprofit that lobbies for tighter regulation of the US financial industry demurred: “You or I would be in jail for a very long time if we filed a bunch of affidavits we knew were false”. He warned that the deal offered by the OCC and Fed ensured that the public would never find out the truth about all the illegal activities undertaken by the biggest banks: “That conduct is never going to see the light of day now. So once again the banks are going to be able to hide their illegal conduct, and apparently there is going to be almost no public disclosure of it.””

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Read full Economonitor article here