Photo of Stanley Sporkin
Stanley Sporkin


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:

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.


xxTITLExx, by xxAUTHORxx


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).


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

Fitts Fights Back, by Michael Ruppert

Where is the Collateral?, by Chris Sanders

So, Where is the Collateral?, by Chris Sanders

The Dangerous World of Catherine Austin Fitts, by Mari Kane

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

Uri Dowbenko's "Catherine Austin Fitts: Enemy of the State" Series:

HUD Fraud, Spooks and the Slumlords of Harvard

DOJ Lies

Redefining the Killer App: AntiTrust and the Real World

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



As General Counsel for the CIA

Photo of Olliver North testifying at the Iran Contra HearingsJudge 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


Tony Soprano HUD Fraud and Map of South Central Los Angeles HUD Defaults

Place-Based Survey Material, prepared by Hamilton Securities Group

Loan Sale Design Book, prepared by Hamilton Securities Group









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.

Contact Information

Articles quoting this attorney

Washington D.C. Office
(202) 682-7146
1615 L Street, NW
Suite 700
Washington, DC 20036-5608

Trade Practices and Regulatory Law Department
Practice Areas
Trade Practices and Regulatory Law
Corporate Governance

Yale University Law School (JD 1957)


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.

Co-Chair, Securities and Exchange Commission Historical Society




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