Blog/Rule of Law
Posted May 27, 2021 by Martin Armstrong
QUESTION: With Wall Street banks migrating to Florida, will the courts there protect them as they do in New York. Will legal action in Florida be forced back to New York? Will you be able to track how those banks will influence the Florida courts to give an advantage to the Wall Street banks that set up there?
ANSWER: We will have to see. But I would say that their lawyers will argue to have any case moved to New York on the claim that remains the headquarters. You will stand a far better chance of keeping the case in Florida if you can show that the venue is here because of some specific actions that can be attributed to Florida. In my own case, NOTHING took place in New York. The bank’s futures division was in Philadelphia. They argued that there was an exchange in New York (COMEX), so that was good enough.
New York violated not just US law, but international. They appointed a receiver to run a foreign corporation from the USA. The precedent would be akin to claiming General Motors violated some law in Germany, so they appoint a receiver to run General Motors from Stuttgart. That is the most absurd violation of international law, but New York judges do not care about the law. All they are there for is to protect the bankers. NEVER has any New York banker gone to prison. The banks pay a fine, which lines the courts’ pockets just like a bribe, and everyone is happy. They had to redefine the bar of being a bank with a criminal conviction; otherwise, they would all lose their licenses in New York City — the most corrupt armpit of the world.
Tags: Florida, law, New York