Wall Street issues $70 billion dollars in fraudulent bonds. The rating agencies issued unjustified credit ratings for these bonds and the banks knowingly sold these faulty bonds to the American people in all 50 states. The bonds defaulted and American’s lost tens of billions.
What American’s don’t know is that both the Congress and the Senate were fully aware of all this fraud. Instead of prosecuting those responsible, Congress passed legislation (PROMESA) stripping all innocent bond holders of their legal rights while prohibiting any lawsuits against the parties who issued these bonds.
According to one of the millions of victims, Commercial Solar Power the FBI and the SEC attended their press conference listing all of these acts of fraud and now have active investigations exploring these allegations.
The list of participating banks looks like Hillary Clinton’s paid speech list while Paul Ryan reversed course after receiving $213,000 from Wall Street firms and voted for the PROMESA legislation. There are no innocent politicians on this one.
The administration even put Secretary Jack Lew in charge of this mess even though Citibank, while Mr. Lew was in charge, participated in this fraud.
There is no question from talking with numerous victims that our legislators have thrown the American people under the bus in an effort to protect their Wall Street friends and maintain the corrupt status quo.
There is no better example of our broken, corrupt government then this $70 billion fraud.
There is a video of a press conference that spells out the specifics of this fraud in detail that can be watched here. There have also been over 40 articles published that can be easily looked up on the internet.
Once the general public is aware of the specifics in this case, they will be ready for wholesale change in Washington.
Mr. Lawless is a career Banker and CEO of Commercial Solar Power, Inc. Mr. Lawless has been working with the SEC, the FBI, The U.S. Attorney’s Office and the Treasury Department to uncover the reasons for Puerto Rico’s $70-billion-dollar bond default.