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Authorities & Definitions |
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Under Development |
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§ 702. Right of review
A person suffering legal wrong because of agency action, or adversely
affected or aggrieved by agency action within the meaning of a
relevant statute, is entitled to judicial review thereof. An action in
a court of the United States seeking relief other than money damages
and stating a claim that an agency or an officer or employee thereof
acted or failed to act in an official capacity or under color of legal
authority shall not be dismissed nor relief therein be denied on the
ground that it is against the United States or that the United States
is an indispensable party. The United States may be named as a
defendant in any such action, and a judgment or decree may be entered
against the United States: Provided, That any mandatory or injunctive
decree shall specify the Federal officer or officers (by name or by
title), and their successors in office, personally responsible for
compliance. Nothing herein
(1) affects other
limitations on judicial review or the power or duty of the court to
dismiss any action or deny relief on any other appropriate legal or
equitable ground; or
(2) confers
authority to grant relief if any other statute that grants consent to
suit expressly or impliedly forbids the relief which is sought.
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| http://en.wikipedia.org/wiki/Administrative_procedure_act | |||
| http://legal-definitions.info/administrative-law-and-procedure | |||
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Administrative Procedure Act Authorities & Relevant Links |
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| § 1831m. Early identification of needed improvements in financial management |
§ 1831p–1. Standards for safety and soundness
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Antitrust: What if you had a product that everyone wanted and needed such as money? In order to produce the product (loan) all you had to do was to borrower it. There were no actual costs of goods sold other than the interest spread. As with an Option ARM you are selling a product well below cost. You could borrow it from depositors, banks, a government, or investors (foreign and domestic). Through the production of your product you could create a huge Ponzi scheme by selling your product below cost in order to destroy competition AND establish a horizontal agreement with wealthy competitors. Vertical agreements are established with investment bankers (Aiello v Lehman), (People of CA v Ameriquest) lenders and mortgage brokers to promote your product. After agreeing to flood the market with loans to people who could not afford the loans many of your ethical and law abiding competitors would perish. The vertical agreements would continue to fund the loans provided you could maintain payments to investors. By tying your 1st mortgages to equity lines and credit cards the payments would continue well beyond affordability. The borrowers are trapped with no equity and huge prepayment penalties which would assist with their marketing and closing costs; the borrowers only solution is to go deeper in debt. Extremely easy qualification through the proliferation of new guidelines (NIV) would continue to increase asset prices and thus maintain the temporary appearance of appropriate capital ratios and prosperity. Whoever could survive the longest would be assured a government bail out. While you are collecting huge bonuses, stock options and other forms of compensation you are preparing yourself and your corporation for the inevitable failure. Realizing that the FDIC and other agencies would be willing to conceal the unconscionable failures your Ponzi scheme could continue for years. Once the market implodes you will have an abundance of cash available to purchase properties and other assets at deep discounts. You will also be able to place blame on the mortgage brokers who originate approximately 65% of all loans. Through horizontal agreements you will be able to eliminate costly broker commissions in favor of inexpensive salaried employees. The foreclosures will become so costly that the banking industry will be allowed to sell real estate in order to lessen huge government bail outs. |
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§1 Sherman Act Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $100,000,000 if a corporation, or, if any other person, $1,000,000, or by imprisonment not exceeding 10 years, or by both said punishments, in the discretion of the court. |
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§ 8. Trusts in restraint of import trade illegal; penaltyEvery combination, conspiracy, trust, agreement, or contract is declared to be contrary to public policy, illegal, and void when the same is made by or between two or more persons or corporations, either of whom, as agent or principal, is engaged in importing any article from any foreign country into the United States, and when such combination, conspiracy, trust, agreement, or contract is intended to operate in restraint of lawful trade, or free competition in lawful trade or commerce, or to increase the market price in any part of the United States of any article or articles imported or intended to be imported into the United States, or of any manufacture into which such imported article enters or is intended to enter. Every person who shall be engaged in the importation of goods or any commodity from any foreign country in violation of this section, or who shall combine or conspire with another to violate the same, is guilty of a misdemeanor, and on conviction thereof in any court of the United States such person shall be fined in a sum not less than $100 and not exceeding $5,000, and shall be further punished by imprisonment, in the discretion of the court, for a term not less than three months nor exceeding twelve months. |
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§ 12. Definitions; short title
(a) “Antitrust
laws,” as used herein, includes the Act entitled “An Act to protect
trade and commerce against unlawful restraints and monopolies,”
approved July second, eighteen hundred and ninety; sections
seventy-three to seventy-six, inclusive, of an Act entitled “An Act to
reduce taxation, to provide revenue for the Government, and for other
purposes,” of August twenty-seventh, eighteen hundred and ninety-four;
an Act entitled “An Act to amend sections seventy-three and
seventy-six of the Act of August twenty-seventh, eighteen hundred and
ninety-four, entitled ‘An Act to reduce taxation, to provide revenue
for the Government, and for other purposes,’ ” approved February
twelfth, nineteen hundred and thirteen; and also this Act.
“Commerce,” as used herein, means trade or commerce among the several
States and with foreign nations, or between the District of Columbia
or any Territory of the United States and any State, Territory, or
foreign nation, or between any insular possessions or other places
under the jurisdiction of the United States, or between any such
possession or place and any State or Territory of the United States or
the District of Columbia or any foreign nation, or within the District
of Columbia or any Territory or any insular possession or other place
under the jurisdiction of the United States: Provided, That nothing in
this Act contained shall apply to the Philippine Islands.
The word “person” or “persons” wherever used in this Act shall be
deemed to include corporations and associations existing under or
authorized by the laws of either the United States, the laws of any of
the Territories, the laws of any State, or the laws of any foreign
country.
(b) This Act may
be cited as the “Clayton Act”.
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§ 13a. Discrimination in rebates, discounts, or advertising service charges; underselling in particular localities; penalties
It shall be unlawful for any person engaged in commerce, in the course
of such commerce, to be a party to, or assist in, any transaction of
sale, or contract to sell, which discriminates to his knowledge
against competitors of the purchaser, in that, any discount, rebate,
allowance, or advertising service charge is granted to the purchaser
over and above any discount, rebate, allowance, or advertising service
charge available at the time of such transaction to said competitors
in respect of a sale of goods of like grade, quality, and quantity; to
sell, or contract to sell, goods in any part of the United States at
prices lower than those exacted by said person elsewhere in the United
States for the purpose of destroying competition, or eliminating a
competitor in such part of the United
States; or, to sell, or contract to sell, goods at unreasonably low
prices for the purpose of destroying competition or eliminating
a competitor.
Any person violating any of the provisions of this section shall, upon
conviction thereof, be fined not more than $5,000 or imprisoned not
more than one year, or both.
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§ 14. Sale, etc., on agreement not to use goods of competitor
It shall be unlawful for any person engaged in commerce, in the course
of such commerce, to lease or make a sale or contract for sale of
goods, wares, merchandise, machinery, supplies, or other commodities,
whether patented or unpatented, for use, consumption, or resale within
the United States or any Territory thereof or the District of Columbia
or any insular possession or other place under the jurisdiction of the
United States, or fix a price
charged therefor,
or discount from, or rebate upon, such price, on the condition,
agreement, or understanding that the lessee or purchaser thereof shall
not use or deal in the goods, wares, merchandise, machinery, supplies,
or other commodities of a competitor or competitors of the lessor or
seller, where the effect of
such lease, sale, or contract for sale or such condition, agreement,
or understanding may be to substantially lessen competition or tend to
create a monopoly in any line of commerce.
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§ 26. Injunctive relief for private parties; exception; costs
Any person, firm,
corporation, or association
shall be entitled to sue for and have injunctive relief, in any court
of the United States having jurisdiction over the parties,
against threatened loss or damage by a violation of the antitrust
laws, including sections
13,
14,
18, and
19 of this title, when and under the same conditions and
principles as injunctive relief against threatened conduct that will
cause loss or damage is granted by courts of equity, under the rules
governing such proceedings, and upon the execution of proper bond
against damages for an injunction improvidently granted and a showing
that the danger of irreparable loss or damage is immediate, a
preliminary injunction may issue: Provided, That nothing herein
contained shall be construed to entitle any person, firm, corporation,
or association, except the United States, to bring suit for injunctive
relief against any common carrier subject to the jurisdiction of the
Surface Transportation Board under subtitle
IV of title
49. In any action under this section in which the plaintiff
substantially prevails, the court shall award the cost of suit,
including a reasonable attorney’s fee, to such plaintiff.
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| http://en.wikipedia.org/wiki/Antitrust | |||
| http://legal-definitions.info/antitrust-law | |||
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Antitrust Authorities & Relevant Links |
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Executive
Summary: |
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| Securities Fraud | |||
| § 77b. Definitions; promotion of efficiency, competition, and capital formation | |||
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(a) Definitions
When used in this subchapter, unless the context otherwise requires—
(1) The term
“security” means any note, stock, treasury stock, security future,
bond, debenture, evidence of indebtedness, certificate of interest or
participation in any profit-sharing agreement, collateral-trust
certificate, preorganization certificate or subscription, transferable
share, investment contract, voting-trust certificate, certificate of
deposit for a security, fractional undivided interest in oil, gas, or
other mineral rights, any put, call, straddle, option, or privilege on
any security, certificate of deposit, or group or index of securities
(including any interest therein or based on the value thereof), or any
put, call, straddle, option, or privilege entered into on a national
securities exchange relating to foreign currency, or, in general, any
interest or instrument commonly known as a “security”, or any
certificate of interest or participation in, temporary or interim
certificate for, receipt for, guarantee of, or warrant or right to
subscribe to or purchase, any of the foregoing.
(2) The term
“person” means an individual, a corporation, a partnership, an
association, a joint-stock company, a trust, any unincorporated
organization, or a government or political subdivision thereof. As
used in this paragraph the term “trust” shall include only a trust
where the interest or interests of the beneficiary or beneficiaries
are evidenced by a security.
(3) The term
“sale” or “sell” shall include every contract of sale or disposition
of a security or interest in a security, for value. The term “offer to
sell”, “offer for sale”, or “offer” shall include every attempt or
offer to dispose of, or solicitation of an offer to buy, a security or
interest in a security, for value. The terms defined in this paragraph
and the term “offer to buy” as used in subsection (c) of section
77e of this title shall not include preliminary negotiations or
agreements between an issuer (or any person directly or indirectly
controlling or controlled by an issuer, or under direct or indirect
common control with an issuer) and any underwriter or among
underwriters who are or are to be in privity of contract with an
issuer (or any person directly or indirectly controlling or controlled
by an issuer, or under direct or indirect common control with an
issuer). Any security given or delivered with, or as a bonus on
account of, any purchase of securities or any other thing, shall be
conclusively presumed to constitute a part of the subject of such
purchase and to have been offered and sold for value. The issue or
transfer of a right or privilege, when originally issued or
transferred with a security, giving the holder of such security the
right to convert such security into another security of the same
issuer or of another person, or giving a right to subscribe to another
security of the same issuer or of another person, which right cannot
be exercised until some future date, shall not be deemed to be an
offer or sale of such other security; but the issue or transfer of
such other security upon the exercise of such right of conversion or
subscription shall be deemed a sale of such other security. Any offer
or sale of a security futures product by or on behalf of the issuer of
the securities underlying the security futures product, an affiliate
of the issuer, or an underwriter, shall constitute a contract for sale
of, sale of, offer for sale, or offer to sell the underlying
securities.
(4) The term
“issuer” means every person who issues or proposes to issue any
security; except that with respect to certificates of deposit,
voting-trust certificates, or collateral-trust certificates, or with
respect to certificates of interest or shares in an unincorporated
investment trust not having a board of directors (or persons
performing similar functions) or of the fixed, restricted management,
or unit type, the term “issuer” means the person or persons performing
the acts and assuming the duties of depositor or manager pursuant to
the provisions of the trust or other agreement or instrument under
which such securities are issued; except that in the case of an
unincorporated association which provides by its articles for limited
liability of any or all of its members, or in the case of a trust,
committee, or other legal entity, the trustees or members thereof
shall not be individually liable as issuers of any security issued by
the association, trust, committee, or other legal entity; except that
with respect to equipment-trust certificates or like securities, the
term “issuer” means the person by whom the equipment or property is or
is to be used; and except that with respect to fractional undivided
interests in oil, gas, or other mineral rights, the term “issuer”
means the owner of any such right or of any interest in such right
(whether whole or fractional) who creates fractional interests therein
for the purpose of public offering.
(5) The term
“Commission” means the Securities and Exchange Commission.
(6) The term
“Territory” means Puerto Rico, the Virgin Islands, and the insular
possessions of the United States.
(7) The term
“interstate commerce” means trade or commerce in securities or any
transportation or communication relating thereto among the several
States or between the District of Columbia or any Territory of the
United States and any State or other Territory, or between any foreign
country and any State, Territory, or the District of Columbia, or
within the District of Columbia.
(8) The term
“registration statement” means the statement provided for in section
77f of this title, and includes any amendment thereto and any
report, document, or memorandum filed as part of such statement or
incorporated therein by reference.
(9) The term
“write” or “written” shall include printed, lithographed, or any means
of graphic communication.
(10) The term
“prospectus” means any prospectus, notice, circular, advertisement,
letter, or communication, written or by radio or television, which
offers any security for sale or confirms the sale of any security;
except that (a) a communication sent or given after the effective date
of the registration statement (other than a prospectus permitted under
subsection (b) of section
77j of this title) shall not be deemed a prospectus if it is
proved that prior to or at the same time with such communication a
written prospectus meeting the requirements of subsection (a) of
section
77j of this title at the time of [1]
such communication was sent or given to the person to whom the
communication was made, and (b) a notice, circular, advertisement,
letter, or communication in respect of a security shall not be deemed
to be a prospectus if it states from whom a written prospectus meeting
the requirements of section
77j of this title may be obtained and, in addition, does no more
than identify the security, state the price thereof, state by whom
orders will be executed, and contain such other information as the
Commission, by rules or regulations deemed necessary or appropriate in
the public interest and for the protection of investors, and subject
to such terms and conditions as may be prescribed therein, may permit.
(11) The term
“underwriter” means any person who has purchased from an issuer with a
view to, or offers or sells for an issuer in connection with, the
distribution of any security, or participates or has a direct or
indirect participation in any such undertaking, or participates or has
a participation in the direct or indirect underwriting of any such
undertaking; but such term shall not include a person whose interest
is limited to a commission from an underwriter or dealer not in excess
of the usual and customary distributors’ or sellers’ commission. As
used in this paragraph the term “issuer” shall include, in addition to
an issuer, any person directly or indirectly controlling or controlled
by the issuer, or any person under direct or indirect common control
with the issuer.
(12) The term
“dealer” means any person who engages either for all or part of his
time, directly or indirectly, as agent, broker, or principal, in the
business of offering, buying, selling, or otherwise dealing or trading
in securities issued by another person.
(13) The term
“insurance company” means a company which is organized as an insurance
company, whose primary and predominant business activity is the
writing of insurance or the reinsuring of risks underwritten by
insurance companies, and which is subject to supervision by the
insurance commissioner, or a similar official or agency, of a State or
territory or the District of Columbia; or any receiver or similar
official or any liquidating agent for such company, in his capacity as
such.
(14) The term
“separate account” means an account established and maintained by an
insurance company pursuant to the laws of any State or territory of
the United States, the District of Columbia, or of Canada or any
province thereof, under which income, gains and losses, whether or not
realized, from assets allocated to such account, are, in accordance
with the applicable contract, credited to or charged against such
account without regard to other income, gains, or losses of the
insurance company.
(15) The term
“accredited investor” shall mean—
(i) a bank as
defined in section
77c
(a)(2) of this title whether acting in its individual or fiduciary
capacity; an insurance company as defined in paragraph (13) of this
subsection; an investment company registered under the Investment
Company Act of 1940 [15
U.S.C.
80a–1 et seq.] or a business development company as defined in
section 2(a)(48) of that Act [15
U.S.C.
80a–2
(a)(48)]; a Small Business Investment Company licensed by the
Small Business Administration; or an employee benefit plan, including
an individual retirement account, which is subject to the provisions
of the Employee Retirement Income Security Act of 1974 [29
U.S.C.
1001 et seq.], if the investment decision is made by a plan
fiduciary, as defined in section 3(21) of such Act [29
U.S.C.
1002
(21)], which is either a bank, insurance company, or registered
investment adviser; or
(ii) any person
who, on the basis of such factors as financial sophistication, net
worth, knowledge, and experience in financial matters, or amount of
assets under management qualifies as an accredited investor under
rules and regulations which the Commission shall prescribe.
(b) Consideration
of promotion of efficiency, competition, and capital formation
Whenever pursuant to this subchapter the Commission is engaged in
rulemaking and is required to consider or determine whether an action
is necessary or appropriate in the public interest, the Commission
shall also consider, in addition to the protection of investors,
whether the action will promote efficiency, competition, and capital
formation.
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| Unfair Competition | |||
| http://en.wikipedia.org/wiki/Securities_fraud | |||