Peter Schiff was mistaken when he said that the Banks were under the influence of Socialism with regards to being bailed out by the Federal Reserve Bank.

I, William V Marino CPA won a lawsuit against Merrill Lynch in 1988 and discovered how Merrill Lynch rigged the market in Ranger Oil in 1980-81. I was directed to go to the NASD Arbitration Forum which prohibited Class Action lawsuits. The arbitration panel consisted of 5 arbitrators, two who were attorneys from Wall Street Brokerage firms and personally knew the Merrill Lynch in house counsel defending Merrill Lynch.

in my lawsuit I obtained Merrill Lynch’s customer records, computer trading records and discovered that Merrill Lynch customers had purchased 2.5 million shares in December 1980 and sold 1 million shares when the American Stock Exchange reported 1 million shares were bought and 400,000 shares sold. I also discovered that Merrill Lynch Financial advisors were selling when Merrill Lynch retail customers were purchasing. In December 1980, Merrill Lynch distributed a research report stating that Ranger Oil’s earnings would increase by 60% in 1981 when in fact Ranger Oil’s earnings dropped by 30%. Ranger Oil’s price was $23 in December 1980 and dropped to $5 in September 1981.

My arbitration hearing lasted 10 days over a 1 year period 1987-1988 and a Merrill Lynch analyst was questioned. He stated that in November 1980, one month prior to the release of the positive buy recommendation released to Merrill Lynch’s retail customers in December 1980, that there was “A Material Negative Unknown That Could Not be Quantified.” The British had proposed a 15% tax on GROSS SALES on oil companies operating in the North Sea that affected Ranger Oil. During the hearing a request was made to examine Merrill Lynch’s research report supporting their December Research report on Ranger Oil and I was told “THEIR LOST.”

I dealt with the SEC prior to going to arbitration and received a letter that Ira Sorkin former chief of the Northeast region of the SEC wrote to Shad, Chair of the SEC in D.C. Sorkin said that Marino has a substantive complaint but chose not to investigate for two reasons. One, budgetary constraints and two, the fact that Merrill Lynch had done their own extensive internal investigation. The SEC Chair Shad came from EF Hutton and when he left the SEC went to work for Drexel Burnham. Ira Sorkin left the SEC and later served as Madoff’s attorney.

I sent an email to SEC Chair Levitt in August 1998 when he asked CPAs to do more to uncover fraud in light of Arthur Anderson CPAs failure to uncover Enron fraudulent activities. Google my name William V Marino CPA SEC and you should be able to retrieve the email. In that email, tilted You Have Got To Be Kidding, that was mistyped, I said I uncovered a major fraud and you the SEC covered it up. I warned the SEC that very soon the Stock Market would crash knowing how the Wall Street Brokerage firms rigged the markets.

in 1988 Don Regan, the former CEO of Merrill Lynch testified before the U.S. Senate Finance Committee and stated that the Stock Market was Rigged and the SEC was the Lapdog of Wall Street. I warned family and friend in 2007 that the Stock Market would soon crash. In December 2008, my comments were published in SEC Office of One Ignore Massive Fraud. I stated that given the Federal Reserve’s engaging in quantitative easing and repressing interest rates that the U.S. was going the way of the Weimar Republic and that is where America is today.

I am working with my son Justin, R Marino Esq, who is rate “Super Lawyer” and who received an award from the Mayor of Lancaster, CA for winning a lawsuit against National Lumber Liquidators for substantially underpaying employees. My son received an Avvo rating of SUPBERB

The first Italian American appointed to the Federal Bench by Franklin D Roosevelt was my cousin Judge Mathew Abruzzo. Another cousin, General Luciano Portolano was in charge of the NATO forces in the western region of Afghanistan and received the Legion of Merit Award from President Obama. He was also appointed to be the General in charge of UN forces on the Lebanese Israeli border and then appointed to be NATO’s Chief of Staff. My family comes from Santa Margherita di Belice Sicily that was written up in the1986 NY Times for producing many lawyers and judges in NYS.

My family lives by the Honor Code. Thou Shall Not Lie, Steal or Cheat Nor Tolerate Anyone that Does.

Politicians in Washington too often serve themselves and their “campaign donors.” The U.S. is a failed Democracy. It is a Fascist State that has gone the way of the Romans

Never in the history of Italy has there been a Church or School shooting and the number of homicides in the hundreds over the last 10 years.

God help us all