Capture of Federal Judiciary by finanacial interests shows need for reform

[dcraelin]

Recent rulings show need for Judicial Reform

The first linked about ruling dismissed a suit against large banks for manipulating the price of aluminum. The second has to do with Argentina's debt and vulture funds.

UPDATE 1-U.S. judge dismisses aluminum price-fixing litigation

"In an 85-page decision, U.S. District Judge Katherine Forrest in Manhattan said there was no showing that the defendants intended to manipulate prices, though it was clear that their actions affected the aluminum marketplace."

Argentina in the Shadow of the Vultures CounterPunch Tells the Facts Names the Names

The principal vulture funds taking action against Argentina are Elliot Fund-NML Capital, Olifant and Aurelius, among others. In the case of NML Capital, for example, the profits—thanks to Griesa’s judgment—would be 1,600 percent.

"Nestor Kirchner was faced with this scenario when he assumed power in 2003. To get off the treadmill of indebtedness and to gain autonomy, his administration made it a top priority to settle the public debt. The motor for the restructuring of the debt was that Argentina would pay tailored to its growth. Kirchner successfully launched the bond swap of 2005 and 2010, accepted by 92.4 percent of the creditors."

"Now, the 1% in the hands of the vultures endangers the success of the initiative."

 

[dcraelin]

another good article on the Argentina "default" fiasco

Argentina 8217 s 8216 Default 8217 Begs a Few Questions CounterPunch Tells the Facts Names the Names

 

[Mad Scientist]

The problem is that any "Reform" legislation is usually written by the corrupt Lawmakers themselves.

What needs to be done instead is for the people to start holding their local Judges accountable starting at the Traffic Ticket level.