Basement Waterproofing - Ineffective Solutions to Wall Crack Repair

As shown in the bottom left corner, the homeowners tried to seal the cracks with rubber spray paint. This may work for a day or two, but paint - even rubberized paint - is no match for water. This corner was one of the more severe points of water damage. Note the extensive water damage to the wall on the left, the bucket in place to catch running water. The cat has nothing to do with this, but when has that ever stopped a cat?