Apatow: Inside Job: Prosecution for Financial Crimes Top Priority: FINCEN - Interpol - IBA:HRI-ICC

April 19, 2011 - PRLog -- During the acceptance speech for the Academy Award: Best Documentary Film in 2010, Charles Ferguson shared "Three years years after a horrific financial crisis caused by massive fraud, not a single financial executive has gone to jail and that's wrong."

http://www.youtube.com/watch?v=mpz5DVwnbnk

Financial crimes outlined in the documentary "The Inside Job," [1] have prompted a renewed call for prosecution, to the fullest extent of the law, in the United States with a request for assistance by the U.S. Department of the Treasury Financial Crimes Enforcement Network. [2]   For related financial crimes perpetrated outside of the U.S., the call has been extended to the Interpol Financial and High Tech Crimes Crimes Division, [3] the International Bar Association Human Rights Institute [4] and International Criminal Court Monitoring and Outreach Programme. [5]

The global oil/food crisis, attributed to speculative trading in the commodities futures market, [6,7,8] remains a critical focus point for humanitarian relief efforts. Recently, the World Bank facilitated an Open Forum on the Global Food Crisis, [9] and the appeal continues for:

Immediate emergency actions to shut down speculative paper trading, with futures contracts for delivery only, as the new mandate for infrastructure critical commodities futures trading.  As the direct cause of the humanitarian crisis that has destabilized Africa and the Middle East, and inflicted severe pain on the grassroots level in every UN member country,  it is essential that pricing of infrastructure critical commodities return to accurate supply demand metrics. Immediate emergency assistance is needed in proportion to the damage inflicted by distorted valuations following the global market crash of 2008. -- Apatow On G20 Action Plan to Address the International Economic Emergency. [10]

Focus points emphasized in the appeal "Financial Crimes Referred to UN Commission on Human Rights - Security Council" [11] on 13 April 2011:

Efforts to address this economic crisis through contingency discussions on the UN and International Bar Association level have failed, prompting the call for legal review of available evidence by the UN Commission on Human Rights and Security Council.  It is critical that emergency actions are coordinated to stabilize the global financial system and humanitarian emergency that continues to spiral out of control.   This includes the development of legal tools to (1) assist restructure under bankruptcy protection for all UN member countries, (2) address market distortions associated with the unregulated global OTC derivatives market and shadow banking system, (3) debt relief proportional to resultant damage and (4) emergency humanitarian assistance for impacted populations.

References:

  1. The Inside Job Trailer: Sony Picture. Url: www.theinsidejobfilm.com
  2. Financial Crimes Enforcement Network: U.S. Department of the Treasury. Url: www.fincen.gov
  3. Interpol Financial and High Tech Crimes Crimes Division. Url: www.interpol.int/public/financialcrime
  4. International Bar Association Human Rights Institute Url: www.ibanet.org/IBAHRI.aspx
  5. International Bar Association ICC Monitoring and Outreach Programme: Url: www.ibanet.org/Human_Rights_Institute/ICC_Outreach_Monitoring/ICC_monitoring_and_outreach_project.aspx
  6. UN expert urges regulation of commodities trading to stop a speculative bubble: AFP, 8 March 2011. Shortened Url: www.bit.ly/i1Dr8g
  7. No Solutions for Food Crisis without Human Rights: Office of the High Commissioner for Human Rights. Url: www.ohchr.org/EN/NEWSEVENTS/Pages/NoSolutionsFoodCrisis.aspx
  8. Special Rapporteur on the right to food: Office of the High Commissioner for Human Rights.  Url: www2.ohchr.org/english/issues/food/index.htm
  9. Open Forum on the Global Food Crisis: World Bank. Url: www.live.worldbank.org/open-forum-food-crisis?cid=EXT_TWBN_D_EXT
 10. Apatow On G20 Action Plan to Address the International Economic Emergency: HRI:UNArts Humanitarian Intervention Initiative, 16 April 2011. Url: www.unarts.org/H-II/ref/4162011OHCHR.html
 11. Financial Crimes Referred to UN Commission on Human Rights - Security Council: HRI:UNArts Humanitarian Intervention Initiative, 13 April 2011. Url: www.unarts.org/H-II/ref/4132011OHCHR.html

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