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UnAnswered
Questions for Stanley Sporkin
#1 Why is $59 billion missing from your Agency, namely HUD, and who has
it? (Mel Martinez senate campaign issues)
Update of the Stanley Sporkin Hotseat -- Time to Sell Your Fannie Mae Securities or Related Mutual and Money Market Funds?
Stanley Sporkin has been retained by the Office of Federal Housing Enterprise Oversight to assist in its duties overseeing Fannie Mae.
Sporkin is the former General Counsel of the CIA during the period when the CIA negotiated a Memorandum of Understanding with the Department of Justice that permited the CIA to avoid reporting significant narcotics trafficking during the Iran Conra period. This narcotics trafficking and related mortgage fraud has played a significant role in harming family well being and homeowners equity in communities throughout America.
In your new role
at Fannie Mae you will need to convince honest investors that you are
fiscally responsible and can be trusted to represent their financial interests.
The following background is
intended to help illuminate your performance by "following the money
trail" through key areas of your personal responsibility:
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As
(special Regulator) for
Fannie Mae
According to a recent Washington Post Report on October 3:
"As Washington donnybrooks go, it doesn't get any bigger
than this.
The company, housing lender Fannie Mae, is the biggest in the
region, with nearly $1 trillion in assets and gobs of outstanding
debt held by pension funds and banks and even foreign central
banks, all of which crave its implicit U.S. government guarantee.
Its executive suite and board of directors are packed with the
politically well connected, while its lobbying muscle is so formidable
it has been able to fend off a concerted effort to rein in its
growth and profitability by the White House, the Federal Reserve
and the Republican leadership on Capitol Hill.
But now Fannie is reeling. A stinging report issued by its once-obscure
regulator, the Office of Federal Housing Enterprise Oversight,
alleged that top Fannie executives manipulated accounts to inflate
and smooth earnings in an effort to boost the stock price and
earn big bonuses. The regulator accuses the company of having
lax internal controls and insufficient capital to back up its
massive financial risk-taking, while ignoring the warning of a
whistle-blowing employee no longer on the payroll. The report,
prepared by Deloitte & Touche and Stanley Sporkin, a longtime
enforcement director at the Securities and Exchange Commission,
has now prompted criminal and civil probes by the Justice Department
and the SEC. "
We are skeptical that Stanley Sporkin should be involved in "preventing"
mortgage fraud. Fannie Mae has traditionally been viewed as a Democratic
stronghold -- and we are in a tight Presidential election after
years of a mortgage bubble that has enjoyed deeply bipartisan support
and profiteering. Are the factions fighting over diminishing cash
flows in a bursting bubble? Is their competition for money laundering
channels in the mortgage markets? Indeed, we have many unanswered
questions on Sporkin's role protecting mortgage fraud throughout
his career and how that connects with the Bush Administration assigning
him to terrorize Fannie Mae's leadership.
Sporkin was the Judge who governed the most outrageous and lawless
aspects of the nine year qui tam lawsuit targeting of Hamilton Securities,
helping to ensure that the Community Wizard software tool never
saw the light of day and numerous honest people were run out of
HUD. This made possible, among other things, the subsequent disappearance
of $59 billion and fraudulent practices in the HUD defaulted mortgage
programs.
A detailed review of the record shows that Sporkin was astute at
how to use the authority of the court and the patina of good government
to wipe out the shareholders and creditors of Hamilton Securities.
If you are a Fannie Mae shareholder, or own shares in a bond or
equity mutual fund or money market account that holds Fannie Mae
securities, you may want to learn more about Stanley Sporkin's history
of using governmental and judicial legal authority to vaccum clean
private investors and homeowners' hard earned equity.
Links
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xxAUTHORxx
xxURLxx
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As
US Federal District Judge - District of Columbia
Judge Sporkin was for many years the presiding
judge on the Ervin
Qui Tam case against Hamilton, and litigation brought
by Hamilton attempting to dismiss, resolve and stop the qui tam
as well as related investigation and other abuse of process.
Judge Sporkin’s extension of the seal almost
four years, without evidence of any wrong doing and despite an FBI
investigation report and HUD IG audit report finding that there
was no evidence of wrong doing, created a “star chamber” which permitted
the government to argue contradictory positions: in the Bivens
case brought by Ervin in open court; and in the Qui Tam
case behind the seal. It also ensured that irreparable harm was
done to Hamilton and its lead shareholder, Catherine Austin Fitts,
before they were allowed to know Ervin’s allegations against them,
to have a forum in which to address or refute any allegations, including
as they were leaked to the press, or to know that no evidence of
any wrongdoing had ever been produced.
Judge Sporkin retired from the bench shortly before
the Qui Tam was unsealed. Hearing transcripts for some of the most
sensitive hearings on the qui tam and other hearings related to
the targeting of Hamilton are missing or unavailable from court
records.
Also at the time of his resignation from the bench,
Sporkin's role in the falsification of an affadavit related to the
conviction of Edwin Paul Wilson attracted media attention (see Ed
Wilson's Revenge, FTW 1/00), as well as in October 2003 when
Wilson's conviction was vacated and the Department of Justice announced
an investigation into the matter (see Opinion
on Conviction; United States of America vs. Edwin Paul Wilson,
and Inquiry
in Case of Arms Dealer, Washington
Post, 11/03).
Links
For stories which describe aspects of
Judge Sporkin's role in targeting and destroying Hamilton Securities,
including the seizure and destruction of Hamilton's software tools
and databases, see:
Where is the Money?
Litigation website - a comprehensive website documenting this
case
http://solari.com/gideon/
Fitts Fights Back,
by Michael Ruppert
http://www.fromthewilderness.com/free/ww3/110603_fitts.html
Where is the Collateral?, by Chris Sanders
http://whereisthemoney.org/S00223_collateral.htm
So, Where is the Collateral?, by Chris Sanders
http://whereisthemoney.org/collateral_II.htm
The Dangerous World of Catherine Austin Fitts, by Mari
Kane
http://www.metroactive.com/papers/sonoma/09.05.02/fitts-0236.html
Former Bush Assistant Secretary for HUD Reveals "Ethnic
Cleansing" Connected to CIA Drug Dealing in Los Angeles
Government Spends Millions in Campaign to Silence Former Wall
Street Banker, Cover Up Connections to Dark Alliance Stories &
CIA Inspector General Report on Drug Trafficking
http://fromthewilderness.com/free/economy/ethnic_cleansing_usa.html
Uri Dowbenko's "Catherine Austin Fitts: Enemy of the
State" Series:
HUD Fraud, Spooks and the Slumlords of Harvard
http://www.conspiracydigest.com/bushwhacked.html
DOJ Lies
http://www.conspiracydigest.com/dojlies.html
Redefining the Killer App: AntiTrust and the Real World
http://www.steamshovelpress.com/altmedia6.html
Ed
Wilson's Revenge, From
The Wilderness, 1/00
Opinion
on Conviction; United States of America vs. Edwin Paul Wilson,
Court Document
Inquiry
in Case of Arms Dealer, Washington Post, 11/03
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As General Counsel for
the CIA
 Judge
Sporkin is the former General Counsel of the CIA and former head
of the Securities and Exchange Enforcement Division, both under
William Casey.
Judge Sporkin was the CIA General Counsel
during the Iran Contra period, including at the time that the CIA
entered into the now infamous Memorandum of Understanding
with the Department of Justice that permitted it to not report narcotics
trafficking by CIA assets.
The Memorandum of Understanding
between the CIA and DOJ was published as part of the declassified
two volume report by the CIA Inspector General confirming the “Dark
Alliance” allegations regarding CIA complicit narcotics
trafficking.
In early March 1998, Judge Stanley Sporkin
approved the court takeover of Hamilton Security Group’s office
during which Hamilton’s software tools and databases were destroyed
or seized by the court. This included the maps of high defaults
on HUD mortgages in areas targeted by alleged CIA narcotics trafficking.
While Hamilton was locked out of its offices and was overwhelmed
by managing the workload related to an effort by government investigators
to falsify “evidence” while controlling and trashing Hamilton’s
offices and systems, in hearings on Volume
1 on March 15th, 1998, CIA Inspector General Hitz
disclosed the existence of this secret agreement between the CIA
and then Reagan Attorney General William French-Smith. On
October 8th, 1998, the declassified version of Volume
II was made public one hour after the House of
Representatives voted to conduct an impeachment inquiry on President
Clinton and just before House members were compelled to cease all
other activity to resolve the budget crisis.
The narcotics trafficking
by CIA during the Sporkin years as CIA General Counsel were
further illuminated by the depositions of Tom and Desiree Ferdinand,
son-in-law and daughter of Col. Al Carone, formerly of the CIA,
Army and NYPD, filed that year in a lawsuit against the CIA that
were maintained under seal until recently. (D'Ferdinand deposition
by attorney Ray Kohlman - Part I, Part II, Part III, Part IV, Part IV. Tom Ferdinand
deposition by attorney Ray Kohlman - Part I, Part II, Part III.)
The Sporkin years at the
CIA were also illuminated by numerous reports of arms and narcotics
trafficking in Arkansas during
Iran Contra and related money laundering through the state housing
agency, the Arkansas Development Finance Agency. During this period,
Vice President George H. W. Bush was in charge of all US enforcement
and intelligence operations through the National Security Council,
President Bill Clinton was the Governor of Arkansas, and Senator
Hillary Clinton was a partner in a law firm that served Arkansas
Development Finance Authority.
"The Latin American drug
cartels have stretched their tentacles
much deeper into our lives than most people believe.
It's possible they are calling the shots at all levels of government."
-William Colby, former CIA
Director, 1995
Links
Tony Soprano HUD Fraud and Map of South Central Los Angeles
HUD Defaults
http://www.solari.com/Sopranoswithmap.pdf?0cv=CB20
Place-Based Survey Material, prepared
by Hamilton Securities Group
http://www.solari.com/gideon/legal/background/DesidnBk/place.htm
Loan Sale Design Book, prepared by Hamilton Securities
Group
http://www.solari.com/gideon/legal/background/DesidnBk/Home.htm
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As
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Links
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xxLINKxx
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Additional Background
Information
Judge Sporkin joined Weil,
Gotshal & Manges as a partner. Weil
Gotshal is considered one of the leading bankruptcy law firms in
the US. Weil Gotshal is the lead bankruptcy counsel to Enron, whose
financial managers have been indicted for money laundering.
Weil
Gotshal’s website and “Who’s Who in America” provide the following
information.
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| Contact Information
Articles
quoting this attorney
Washington D.C. Office
(202) 682-7146
1615 L Street, NW
Suite 700
Washington, DC 20036-5608
stanley.sporkin@weil.com
Trade Practices and Regulatory
Law Department
Practice Areas
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Trade Practices and Regulatory Law
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Corporate Governance
Education
Yale University Law School (JD 1957)
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Biographical Information
Judge Stanley Sporkin (Ret.) is a Partner at Weil, Gotshal
& Manges residing in its Washington, D.C. office. Judge
Sporkin's practice consists of counseling parties in SEC,
Corporate Governance and Litigation Matters. Because of
his judicial background, he also acts as an arbitrator and
provides mediation services.
Judge Stanley Sporkin was born in Philadelphia
in 1932, attended Pennsylvania State University from 1949-1953
and received his law degree from Yale University in 1957.
Bar: Del, 1958, Pa. 1958, U.S. Dist. Ct.
DC 1963, US Supreme Ct. 1964, US Cot Appeals (2nd
cir.) 1975, U.S. Ct. Appeals (4th cir.) 1978.
Law clerk to presiding justice U.S. District
Court, Del., 1957-60 then twenty years with the SEC serving
the last seven as the Director of the Division of Enforcement:
1960-61 staff atty, spl. study securities markets U. S.
Securities & Exchange Commission, 1961-63, atty., 1963,
chief atty. Enforcement branch, 1963-66, chief enforcement
attorney, 1966, ast. Dir., 1967, assoc. dir., 1968-72, Deputy
Director – Trading and Markets, 1972-73, Director Enforcement
Division, 1973-81.
He then went to the CIA from 1981-86 where
he as the General Counsel. In 1985, President Ronald Reagan
appointed him to the Federal Bench where he served as a
United States District Judge for the District of Columbia
for 14 years. Judge Sporkin is also a Certified Public Accountant.
In 1976 he received the National Civil Service League's
Special Achievement Award and in 1978, Judge Sporkin received
the Rockefeller Award for Public Service from the Woodrow
Wilson School of Public and International Affairs at Princeton
University. In 1979, he was the recipient of the President's
Award for Distinguished Federal Civilian Service, the highest
honor that can be granted to a member of the Federal career
service. During his service with the Central Intelligence
Agency, the Director of Central Intelligence conferred on
him the Distinguished Intelligence Medal. In 1990, he was
named an Alumni Fellow at the College of Business Administration,
The Pennsylvania State University. In 1994, he was presented
the William O. Douglas Award for Lifetime Achievement by
the Association of Securities and Exchange Commission Alumni
and honored by B’nai B’rith and in May 1996, he was presented
the H. Carl Moultrie Award for Judicial Excellence by the
Trial Lawyers of Washington, D.C. In June 2000, he was presented
with the prestigious Federal Bar Association's Tom C. Clark
Award. In October 2000, Judge Sporkin received the Judicial
Excellence Award from Judicial Watch
Judge Sporkin is the son of The Honorable Maurice W. Sporkin
(deceased), a long time Judge of the Court of Common Pleas,
Philadelphia, Pennsylvania, and Ethel Sporkin (deceased).
He is married to Judith Sally Imber (married September 30,
1955) and has three children: Elizabeth Michael Sporkin,
Daniel Paul Sporkin, and Thomas Abraham Sporkin; and two
grandchildren.
Judge Sporkin has served as an adjunct
professor at Antioch Law School, 1974-81, Howard University,
1971-, member of the executive committee, University of
California Securities Regulation Institute, 1977-
- Fellow, American Bar Found.
- Member, American Bar Association
- Federal Bar Association (exec. Council securities law
sect. 1978-)
- Delaware Bar Association
- Bar Association of DC
- American Law Institute
- American Institute of CPA’s
- Federal Legal Council
- Administrative Conference of the US
- Phi Beta Kappa
- Phi Kappa Phi
From an internet search:
Board of Advisors, Wall Street Management
& Capital Inc.
http://www.wsmcapital.com/sporkin.html
Co-Chair, Securities and Exchange Commission
Historical Society
http://www.sechistorical.org/about/Committees/Com_Enforcement.shtml
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