Schumer put together a small team consisting of himself, Elizabeth Warren, Senator Blumenthal and Senator Feinstein. In January 2016, they submitted a rider to the energy bill that unbelievably would prevent the innocent bondholders from suing.
All four politicians were quickly rewarded and the Wall Street contributions flooded in.
Then an understanding was stuck with US Attorney Bharara that investigations would be sidetracked and no prosecutions would take place. As pressure was building with the public discovery of hundreds of new felonies related to the issuance of this $70 billion in bonds, the DOJ continued to ignore the evidence and sidetrack all efforts by their field personnel to prosecute. Bharara was paying back his mentor in spades.
The four senators continued to press for a prohibition of law suits, confiscation of what was left of the $70 billion in bond proceeds and a revocation of all the bond holders’ legal rights. They got what they were hoping for in the PROMESA legislation. The politicians then went on to shape an argument that whatever money was left that was not already stolen should be given to underfunded union pensions.
Bharara was given a huge amount of information, including sworn testimony of the fraud and over 10,000 pages of documentary evidence. A second year law student could have convicted all parties under our current RICO statutes yet Bharara did nothing.
Odds of this story making news...01%.
In a sane, non fake news world, this would be all people were talking about.
Sessions should run with this and take Schumer out.
I was sort of surprised to see the supposedly saintly defender of little people included among the conspirators against the bondholders. Maybe she doesn’t intend to run for POTUS after all.
Now that the prosecutor has been fired and this whole caper is public, it stacks some serious against, Schumer, Elizabeth Warren, Senator Blumenthal and Senator Feinstein.
Ahh, in the style of Francis Underwood's "House of Cards"
Some people need to go to prison. Or shot.
Book marking
Initial report that Bharara had been asked to stay on seem to have been because respectable sources made assurances that he was effective in cleaning up corruption in New York. I imagine those sources are no longer respectable. Trump’s instinct was right from the beginning, as usual. He just let some of the slime leak out before he pulled the trigger.