DISGUSTING! HOW CAN WE STOP THIS TYPE OF THIEVERY?

Harry Reid, Jon Corzine and other cronies that got away in 2012

By Peter Schweizer

Published December 12, 2012

FoxNews.com

Read more: http://www.foxnews.com/opinion/2012/12/12/cronies-that-got-away-in-2012/#ixzz2Ery8UEjs

When businesses and big government politicians go into “business” with one another, taxpayers lose—big time. It's called cronyism.

A "crony" is an individual or organization that colludes with politicians to gain unfair treatment, taxpyer-funded benefits, or regulations that the rest of us don't enjoy. Cronyism occurs because politicians rely on wealthy interests to fund their campaigns, and those donors then seek government goodies or favors in return. 

It’s a match made in heaven for cronies and hell for taxpayers. Just as bad, such cronyism erodes economic freedom by destroying the real competition that fuels free market capitalism.

In 2012, the cronies had a banner year, poaching billions of taxpayer dollars to pump up their profits and redistribute their losses.

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In 2012, the cronies had a banner year, poaching billions of taxpayer dollars to pump up their profits and redistribute their losses. In other instances, the cronies leveraged their insider connections to evade prosecutions and skirt the laws that apply to the rest of us. Consider just a few of the cronies that got away in 2012.

LEGISLATION ALLOWED THE THEFT OF BILLIONS!

Submitted by: Donald Hank

Fraud: Jon Corzine, George W. Bush and the 2005 Bankruptcy Reform

Why No One Has Gone To Jail

New York — Yesterday the House Financial Services Committee confirmed what we already know, namely that former Goldman Sachs CEO Jon Corzine deliberately stole customer funds when he was CEO of MF Global.  See Blomberg News story below: http://www.bloomberg.com/news/2012-11-14/corzine-decisions-felled-mf-glo… But what the Republican Committee report does not say is that the mechanism that allows Corzine and many others to walk away from such disasters without any civil liability for fraud is the 2005 Bankruptcy Reform Act, which the Republicans sponsored almost unanimously.  And we wonder why nobody is pursuing this for the theft that it clearly involved? By the bankruptcy code Congress adopted and which congress alone can change: (i) Bankruptcy Judges are PRECLUDED from appointing “receivers” (Sec. 105(b)), (ii) the stay precludes creditors who were robbed from pursuing a receiver at the District Court, (iii) state receiverships are collapsed into the bankruptcy when it is filed and (iv), at least in the 2nd Cir., only a receiver can pursue claims based on theft.