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Apatow: Jurisdiction Critical for Prosecution of Financial Crimes - FINCEN - Interpol - IBA: HRI-ICC
Current discussions on the bar association and attorney level in 192 countries are to support legal analysis and prosecution of interconnected financial market crimes, within each countries jurisdiction.
Today, economic survival in UN member countries is dependent on access to low interest rate central bank emergency funds. Once the rates increase, the financial crisis in the vast majority of countries spirals into a deeper economic crisis state or the next level of insolvency. As we watch the oil shock and food crisis destabilize entire continental regions, it is now impossible to use conventional market mechanisms or an increase in interest rates, to address the cause of hyperinflation. This scenario duplicates the events that followed the flood of liquidity by central banks following the market crash of 1929, when hyperinflation and damage was only stopped by the Banking Act of 1933  or Glass-Steagall (that shut down investment bank access to the central bank window). Our current crisis began with the repeal of Glass-Steagall in 1999 (that held the system together for 70 years), with the collapse of the global financial system in 2008. Following the crash, appeals for immediate restoration of the Glass-Steagall regulatory protections were ignored. Instead, a zero interest rate central bank emergency policy allowed emergency central bank funds to flow directly into investment banks and speculative trading (the cause of the crisis), again through the unregulated OTC derivatives market and shadow banking system. The substance of this strategy, has left the global financial system one shock away from a full blown crisis, according to World Bank President, Robert Zoellick. 
In the U.S., the interrelationship of financial crimes to the municipal, state and federal budget crisis is a critical aspect of emergency economic contingency discussions, substantive efforts for resolution and sustainable stabilization. The concept of austerity and taxation during a non-declared state of economic emergency, hinge on the edge of insanity. Since it is impossible to contain a crisis caused by an unregulated $1.2 Quadrillion ($1,200 Trillion)  OTC derivatives based shadow banking system, with a conventional economics interest rate based strategy, perhaps it is time we get a grasp on the true size and scope of the problem at hand and establish a strategic plan to resolve it.
In a globalized world, we need all the players, in every interconnected UN country on board, this is why the discussion was opened to the UN Human Rights Commission, Security Council level. 
Looking forward to feedback and guidance for UN member countries.
1. The Glass-Steagall Act a.k.a. The Banking Act of 1933: Archive.org. Url: www.archive.org/
2. World Bank president: 'One shock away from crisis' , 17 April 2011. Url: www.bbc.co.uk/
3. Remarks by Jill Considine: At the joint European Central Bank/Federal Reserve Bank of Chicago Conference on “Issues Related to Central Counterparty Clearing”
4. Financial Crimes Referred to UN Commission on Human Rights - Security Council: HRI:UNArts Humanitarian Intervention Initiative, 13 April 2011. Url: www.unarts.org/
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Page Updated Last on: Apr 22, 2011