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	Why has there been no criminal convictions for those responsible for the financial crash by Sen. Elizabeth Warren, Ralph Nader, agencies USA   Why has there been no criminal convictions for those responsible for the financial crash, asks Sen. Elizabeth Warren.   A review of recently released archives shows no Department of Justice criminal prosecutions of Financial Crisis Inquiry Commission (FCIC) referred individuals or companies.   On the eighth anniversary of the Lehman Brothers bankruptcy, United States Senator Elizabeth Warren asked the Department of Justice (DOJ) Office of the Inspector General (OIG) to conduct an investigation into the inability of the DOJ to prosecute any of the individuals referred to the agency by the FCIC for potential law-breaking related to the 2008 financial crisis.   Recently-released documents revealed that the FCIC referred nine individuals and 14 corporations to the DOJ in 2010 based on "serious indications of violations" of federal securities or other laws. But none of these individuals or corporations has been criminally prosecuted.   "The outcome of the referrals by the FCIC to the DOJ represents an abysmal failure. It means that key companies and individuals that were responsible for the financial crisis and were the cause of substantial hardship for millions of Americans faced no criminal charges. This failure is outrageous and baffling, and it requires an explanation," Senator Warren wrote today to the OIG.   The senator''s letter provides details of the FCIC''s referrals and the alleged misconduct by these nine individuals and 14 firms, and calls for an IG investigation of DOJ actions taken in response to the FCIC referrals.   Senator Warren today also wrote to FBI Director James Comey to request that the FBI release its materials related to the investigations and prosecutorial decisions of the companies and individuals named in the FCIC referrals.   The senator''s request comes after Director Comey took the unusual step of releasing records related to the investigation of former Secretary of State Hillary Clinton''s email system, citing "intense public interest."   The senator wrote, "These new standards present a compelling case for public transparency around the fate of the FCIC referrals.. I can think of no matter of ‘intense public interest about which ‘the American people deserve the details than the issue of what precisely happened to the criminal referrals that followed the 2008 crash."   Sep 2016   Senator Elizabeth Warren seeks investigation into the failure to hold those responsible for GFC to account. (Agencies)   "I can think of no matter of intense public interest about which the American people deserve the details'' than the issue of what precisely happened to the criminal referrals that followed the 2008 crash"   In a letter sent to Department of Justice (DOJ) inspector general Michael Horowitz, the Democratic Senator for Massachusetts demanded an investigation into why the DOJ refused to file criminal charges against individuals despite "serious indications of violations'' of federal securities and other laws," uncovered by the Financial Crisis Inquiry Commission (FCIC) probe into the causes of the economic crash.   Warren said her staff reviewed thousands of documents recently made public by the FCIC, and identified "11 separate FCIC referrals of individuals or corporations to DOJ in cases where the FCIC found" such evidence. According to Warren, "Nine individuals were implicated in these referrals (two were implicated twice)."   The DOJ, she continued, "has not filed any criminal prosecutions against any of the nine individuals. Not one of the nine has gone to prison or been convicted of a criminal offense. Not a single one has even been indicted or brought to trial."   Further, she notes that her staff review "identified potentially illegal activity at 14 corporations (including five that were implicated in multiple referrals)." Though there were five corporations that reached a settlement with the DOJ, not one was criminally indicted or brought to trial.   Summarizing the letter, financial reporter David Dayen noted that the corporate criminals examined in the FCIC documents included:   ''most of America’s largest banks—Citigroup, Goldman Sachs, JPMorgan Chase, Lehman Brothers, Washington Mutual (now part of JPMorgan), and Merrill Lynch (now part of Bank of America)—along with foreign banking giants UBS, Credit Suisse, and Société Generale, auditor PricewaterhouseCoopers, credit rating agency Moody’s, insurance company AIG, and mortgage giants Fannie Mae and Freddie Mac.   The FCIC presented DOJ with evidence that these institutions gave false representations about the loan quality inside mortgage-backed securities; misled credit ratings agencies; overstated assets and earnings in financial disclosures; failed to disclose credit downgrades, subprime exposure and the financial health of their operations to shareholders; and suffered breakdowns in internal company controls. All of these were tied to specific violations of federal law.   And the FCIC named names, specifying nine top-level executives who should be investigated on criminal charges: Chief Executive Officer (CEO) and Chief Financial Officer (CFO) of Fannie Mae, CEO and CFO of AIG, CEO and CFO of Merrill Lynch, and CEO, CFO and Board Chairman of Citigroup''.   "The DOJ''s failure to obtain any criminal convictions of any of the individuals or corporations named in the FCIC referrals suggests that the department has failed to hold the individuals and companies most responsible for the financial crisis and the Great Recession accountable," Warren concludes. "This failure requires an explanation."   Breaking Through Power, by Ralph Nader   One of The Atlantic’s hundred most influential figures in human history, Nader has been instrumental in the founding of scores of citizens groups as well as in the establishment of watchdog agencies including Occupational Safety and Health Administration (OSHA) and the Environment Protection Agency (EPA). In dozens of books since his 1965 Unsafe at Any Speed, Nader has worked to educate and empower consumers. His latest call to action reminds American citizens who have organized and waged successful fights against big businesses and corporate privilege how crucial and powerful democracy is, watch his speech via the link below.   http://www.socialeurope.eu/2016/10/breaking-through-power/ Visit the related web page
	Renewed crackdown against Government critics in Cambodia by Forum Asia, ICJ, agencies   12 July 2016   Thousands of Cambodians have paid tribute to an outspoken anti-government activist shot dead at a busy cafe.   Kem Ley was gunned down in broad daylight, shot several times as he drank coffee at a petrol station cafe in Phnom Penh. Police later arrested a man who confessed to killing him over an unpaid debt. However, Cambodians have no doubt it was a political assassination, and suspect Hun Sen''s government was behind the killing.   "We all see clearly that many famous intellectuals are being killed," said one woman, at the crime scene.   "We only had Kem Ley left but now he has also been killed and the police have never, they have never found the real killers to bring to justice."   As a political activist and the head of a grass roots advocacy group Khmer for Khmer, Kem Lay was well regarded by ordinary Cambodians.   He was a fearless and outspoken critic of Hun Sen''s government, recently highlighting questions raised by an anti-corruption group about the Prime Minister''s personal wealth.   The report by the NGO Global Witness accused the Prime Minister and his family of amassing $200 million in business interests. The allegations were dismissed by a government spokesman as propaganda.   A member of Cambodia''s opposition party, Ou Chanroth, called for unity to save the democratic processes.   "We believe that this act of cruel killing pushes us to fight harder for democracy, make the Cambodian people understand politics more clearly, and walk united with the opposition party to save the country and democracy in the days ahead," he said.   Thousands of mourners formed a procession on Sunday as the activist''s body was taken to the pagoda by car, which was laden with flowers, fruit and incense. The mourners were angry and shocked at his murder.   Prime Minister Hun Sen has publicly condemned Kem Lay''s killing and vowed to launch a full investigation, but the shooting coincides with a rise in political violence in Cambodia.   The opposition has accused the nation''s authoritarian leader of launching a fresh crackdown against dissidents.   Scores of government critics and rights workers have been arrested in recent months, while others have been tied up in ongoing legal cases.   "Kem Lay''s murder follows a long established pattern of political violence in Cambodia," said Sebastian Strangio, a journalist and author of a biography of Hun Sen. He said the depth of anger over Kem Lay''s death showed how popular he had become.   "There''s clearly deep public anger. People have no doubt that the Government is behind this and I think that this killing has only inflamed public anger against the Government.   "The political ramifications may not be immediate but they will be serious when the time comes.   "Kem Lay spoke his mind. He''s not afraid to criticise the Government, speak openly, speak critically. He is somebody who never holds back, and I think a lot of local people used to this silence that blankets so much of Cambodian society respond to that.   "He also has a personal charisma and a lot of leadership qualities that people respond to. He''s offering people a third way — a path forward in Cambodian politics. And the depth of anger shows the popularity he begun to generate among the Cambodian population."   Yon Sineat, a labour rights activist, said grief-stricken supporters were determined Kem Lay''s campaign for free speech and political transparency would continue.   "He always said that he''s not sure when he''d die," she said. "But he wanted to continue his mission to show Cambodians, especially youth, must stand up to fight for social justice and also to improve our country."   Another supporter, Im Sambol, agreed. "Kem Ley represents all of Cambodia''s people. He lived and worked for the benefit of society and all Cambodian people."   * Statement by the Asia Forum for Human Rights & Development: http://bit.ly/2gwv2zL http://bit.ly/29R6kbG http://www.icj.org/cambodia-kem-leys-killing-demands-immediate-credible-and-impartial-investigation/ Visit the related web page
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