Judge Laura Taylor Swain in Manhattan threw out a $2.5 million lawsuit when investors tried to sue the SEC for damages because they failed to do their job when so many people warned them about Madoff. Once again, this dismissal of the suit was affirmed by the notorious court in NYC – 2nd Circuit Court of Appeals.
No suit against the banks or the SEC stands EVER any chance in NYC. The court is the most morally corrupt court in the USA and you will never stand a chance of vindicating any rights AT ANY TIME. This proves that we need a complete restructuring of everything. This is why Homeland Security has bought enough bullets to shoot everyone 5 times and tanks for US streets because when you cannot vindicate right in a court of law, then civil unrest erupts. This is standard throughout history.
So, rather than reform, this is all about maintaining the status quo. But NYC is no longer the biggest market for IPOs and deals. Without the rule of law, as Margaret Thatcher told our clients, you cannot invest a dime. Nothing has any meaning. Contracts are worthless when they cannot be enforced. Nothing whatsoever that provides the benefit of coming together as a people survives when courts act this way. The federal court in NYC is so intent on rigging the game so they ALWAYS win, they cannot see that no one will play with them in NYC. Why should anyone do business there if there is no rule of law?
This type of corruption is off the charts. You simply have to be nuts to deal in NYC. They can steal your money like MF Global, and you cannot enforce the law. The inferior courts are outside of democratic process. These people never stand for election. They are appointed because of backroom deals. The administrative courts are worse. Did you realize you do not even have to be a lawyer to be an SEC judge? They can appoint anyone and there is NO qualification prescribed!
Congress is one huge joke. So if you think you can buy gold, store it in a facility, and it is really yours, good luck. What part of the corrupt court system did you fail to understand? Nothing survives. The law is only whatever a judge says – NEVER what Congress even tries to pass.