Dear Mr Witham:
A, PLEASE - GIVE CREDIT WHERE CREDIT IS DUE:
I had to respond, because you hurt my local patriotism... Texas possibly featured big in the S&L crisis, but that was history , and small change too. SO PLEASE DO NOT CARRY OVER stories of the epidemic of the S&L crisis in Texas.... Just get over it...
In the current crisis, FBI defined none other than LOS ANGELES COUNTY, CALIFORNIA, AS "THE EPICENTER OF THE EPIDEMIC", which makes your claims of being an EPIDEMIC only (without the EPICENTER) marginal at best.
B. LA COUNTY IS UNIQUE IN ITS REGIONAL PRODUCTS - RECOGNIZED WORLD-WIDE - WE CREATED THE ORIGINAL REGIONAL BLEND - FINANCIAL INSTITUTION - COURT CORRUPTION COCKTAIL
Let me add my contribution to the story, in a separate email note... I claim:
a) IN January 2007 I FILED WITH FBI LA a 100 page complaint claiming that Countrywide was in the midst of a major fraud against the u.S. government , and in March 2007, I provided an initial estimate of hundreds of billions. Special Agent Vallese who was assigned to my case , then instructed me NOT TO FILE ANY PAPERS ANYMORE.
b) i now add the senior partner that propelled Countrywide and LA COUNTY to the regional distinction of AN EPICENTER OF AN EPIDEMIC;;; none other than the LA SUPERIOR COURT.
And in a similar predicament, the former PRESIDING JUDGE OF THE SUPERIOR COURT OF SAN BERNARDINO COUNTY, CALIFORNIA was tied a couple of weeks ago to numerous real estate fraud as well.; I believe that San Bernardino County is a close contender to the title of LA County... but we try to put them down, by calling them RURAL... the worst possible derogatory in the lexicon of corruption...
C. WITH THE PASSAGE OF TIME, THIS CRISIS MAY EVENTUALLY BE RECOGNIZED AS A FINANCIAL/JUDICIAL CRISIS, NOT ONLY FINANCIAL - AND IT REFLECTS A COORDINATED CAMPAIGN OF THE COURTS AND FINANCIAL INSTITUTIONS - USHERING BACK THE ROBBER BARON ERA IN A BIG SWING...
Otherwise, I claim that the current crisis is a financial/legal/judicial crisis. The claims were made by others before, and there were I believe also hearings in Congress on the issue of rthe courts being the engine driving the financial crisis. The evidence is abundant, from the few courts that stood up to financial corporations:
In Houston, Texas (yes, I give credit when credit is due) the Honorable JEFF BOHM, issued in March 2008 a 72-page rebuke of the practices of Countrywide Legal Department.
And likewise, in Pittsburgh, Pennsylvania, in December 2007, Countrywide was caught in court filing "Recreated Letters" as evidence.
In contrast, in Los Angeles, California, Countrywide - now Bank of America Corporation continues with the same donduct even today - with full blessing of the Los Angeles Superior Court.
D. FOCUSING ATTENTION ON SWISS BANKERS (MY FAVORITE - UBS AG) IS FULLY JUSTIFIED, THE SWISS GOT TO DO SOME INTROSPECTION
Otherwise put, the U.S. in its hay day, had the late Kennedy bill (if I recall correctly) which prohibited U.S. Corporations from corrupting governments abroad. I believe that the time is right to recognize the new realities, and negotiate with the Swiss the reverse....
However, I would focus my sights on the southern Florida (competitor of Los Angeles County in several ways) U.S. Court, where UBS AG is on trial - OR IS IT A SHOW TRIAL? Just like the spectacle from NYC under the caption of SEC v BAC, you can never tell anymore.
Los Angeles County, in Sunny California
We own the "C" in Corruption!