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treasure mile casino 100% bis zu €500 Links are provided to the full news articles for verification.
If any link fails to function, read.
These articles on banking and finance are listed by order of importance.
You can also explore them orderded by the or by the.
By choosing to educate ourselves, we can.
Note: Explore our to revealing excerpts of key major media news articles on treasure mile casino 100% bis zu €500 of engaging topics.
And read excerpts from 20 of visit web page ever published.
Not on foreign terrorists, "the adversary's closer to home.
It's the Pentagon bureaucracy.
Rumsfeld promised change but the next day — Sept.
A former Marine turned whistle-blower is risking his job by speaking out.
Jim Minnery, Defense Finance and Accounting Service.
My supervisor asking me why I care about doing a good job," said Minnery.
He was reassigned and says officials then covered up the problem.
The Pentagon's Inspector General "partially substantiated" several of Minnery's allegations.
Note: Watch the of this shocking admission.
Another key clip is.
Why isn't it making media headlines now?
See also a revealing collection of.
Some of the world's biggest, most profitable corporations enjoy a far lower tax rate than you do--that is, if they pay taxes at all.
The most egregious example is General Electric.
How did this happen?
GE in effect consists of two divisions: General Electric Capital and everything else.
The everything else--maker of engines, power plants, TV shows and the like--would have paid a 22% tax rate if it was a standalone company.
It's GE Capital that keeps the overall tax bill so low.
Over the last two years, GE Capital has displayed an uncanny ability to lose lots of money in the U.
Not only do the U.
It's the tax benefit of overseas operations that is the biggest reason why multinationals end up with lower tax rates than the rest of us.
Note: Note that Forbes later changed the title of this article to a more innocuous "What The Top U.
Companies Pay In Taxes.
They ship US jobs overseas and then reap huge tax benefits as a result.
What's wrong with this picture?
For a wealth of media news articles on the hidden manipulations of major financial corporations.
After receiving billions in aid from U.
Some won't even talk about it.
What was it spent on?
How much is being held in savings, and what's the plan for the rest?
None of the banks provided specific answers.
Some banks said they simply didn't know where the money was going.
There has been no accounting of how banks spend that money.
Lawmakers summoned bank executives to Capitol Hill last month and implored them.
But there is no process in place to make sure that's happening and there are no consequences for banks that don't comply.
And the Treasury Department, which doles out the money, never asked banks how it would be spent.
No bank provided will mr bet 赌场 100% up to €150 think the most basic accounting for the federal money.
Most banks wouldn't say why they were keeping the details secret.
Note: Explore that the bankers don't want you to know on the Federal Reserve, which is neither federal, nor a reserve.
For many revealing reports from reliable sources on the realities of the Wall Street bailout, click here.
For more along these lines, see concise summaries of deeply revealing from reliable major media sources.
Then explore the excellent, reliable resources suggesting major corruption provided in our.
The July 2016 report is not the only such report of unsubstantiated adjustments.
Mark Skidmore and Catherine Austin Fitts, former Assistant Secretary of Housing and Urban Development, conducted a search of government websites and found similar reports dating back to 1998.
Note: Explore for a brief background to this astounding news.
And don't miss this with Prof.
Mark Skidmore of Michigan State with even more startling news.
Employees of Wells Fargo WFC boosted sales figures by covertly opening the accounts and funding them by transferring money from customers' authorized accounts without permission, that 【セブンナイツ攻略】ギルド城~新しいギルド機能が追加! apologise Consumer Financial Protection Bureau, Office of the Comptroller of the Currency and Los Angeles city officials said.
An analysis by the San Francisco-headquartered bank found that its employees opened more than two million deposit and credit card accounts that may not have been authorized by consumers.
Many of the transfers ran up fees or other charges for the customers, even as they helped employees make incentive goals.
Additionally, Wells Fargo said it terminated approximately 5,300 employees and managers over a five-year period for their involvement with the unauthorized accounts.
Note: No Wells Fargo executives have been held responsible for this bank's institutionalized breach of customer trust.
Do you think these actions were taken without approval from at least one executive?
For more along these lines, see concise summaries of deeply revealing from reliable major media sources.
The authorities pursued bank bosses, chief executives, civil servants and corporate raiders for crimes ranging from insider trading to fraud, money laundering, misleading markets, breach of duties and lying to the authorities.
Meanwhile the economy that collapsed so spectacularly has rebounded after letting banks go bust, imposing capital controls and protecting its own citizens over all other losers.
This determination to hold people to account for actions that caused intense financial misery contrasts strongly with Britain, most of the rest of Europe and the United States.
Britain never bothered holding a proper inquiry into the financial meltdown that still heavily impacts on public finances.
In New York, a couple of minor British bankers have just been convicted of manipulating inter-bank lending rates.
In London, the massive HSBC is playing political games.
This is the bank, remember, fined Ł1.
Its former boss became a government minister and then chairman of the British Museum.
Note: So the one nation that jailed its big bankers and let banks go bust is doing very well.
Why are so exceedingly few bankers in other countries being jailed for crimes involving trillions of dollars and bankrupting millions of citizens?
For more along these lines, see concise summaries of deeply revealing news articles about corruption in and in the.
Attorney General Loretta E.
By tweaking global benchmarks used to set foreign exchange and interest rates for a staggering number of transactions a day, the banks — over several years — bilked billions of dollars of extra profits by altering rates in their favor.
Critics complained that the Justice Department had failed to prosecute any additional individuals.
The bank said it had previously set aside reserves for these settlements.
Note: When it comes to international banking, it appears that almost.
For more along these lines, see concise summaries of deeply revealing news articles about the systemically corrupt.
Global gold prices may have been manipulated on 50 per cent of occasions between January 2010 and December 2013, according to analysis by Fideres, a consultancy.
Important Note: The above article was removed from the Financial Times website just two days after it was posted.
To read the full article on another website.
And for a BBC article which shows how the Rothschilds fixed gold prices in the past.
For more on financial corruption, see the deeply revealing reports from reliable major media sources.
One could slash private debt by 100pc of GDP, boost growth, stabilize prices, and dethrone bankers all at the same time.
It could be done cleanly and painlessly, by legislative command, far more quickly than anybody imagined.
The conjuring trick is to replace our system of private bank-created money -- roughly 97pc of the money supply -- with state-created money.
Specifically, it means an assault on "".
If lenders are forced to put up 100pc reserve backing for deposits, they lose the exorbitant privilege of creating money out of thin air.
The nation regains sovereign control over the money supply.
There are no more bank runs, and fewer boom-bust credit cycles.
Entitled "", it revives the scheme first put forward by professors Henry Simons and Irving Fisher in 1936 during the ferment of creative thinking in the late Depression.
Benes and Kumhof argue that credit-cycle trauma - caused by private money creation - dates deep into history.
The original authors of the Chicago Plan were responding to the Great Depression.
They believed it was possible to prevent the social havoc caused by wild swings from boom to bust, and to do so without crimping economic dynamism.
The benign side-effect of their proposals would be a switch from national debt to national surplus.
Note: This article is an incredible breakthrough in real reporting on the banking sector.
It is most highly recommended to read the entire article and then explore our powerful.
Executives with Europe's biggest bank, HSBC, were subjected to a humiliating on Tuesday over revelations that staff at its global subsidiaries laundered billions of dollars for drug cartels, terrorists and pariah states.
HSBC's subsidiaries transported billions of dollars of cash in armoured vehicles, cleared suspicious travellers' cheques worth billions, and allowed Mexican drug lords buy to planes with money laundered through Cayman Islands accounts.
Other subsidiaries moved money from Iran, Syria and other countries on US sanctions lists, and helped a Saudi bank linked to al-Qaida to shift money to the US.
The committee had released a on Monday, which detailed a collapse in HSBC's compliance standards.
The senators highlighted testimony from Leopoldo Barroso, a former HSBC anti money-laundering director, who told company officials in an exit interview that he was concerned about "allegations of 60% to 70% of laundered proceeds in Mexico" going through HSBC's affiliate.
Note: HSBC may have been the international drug trade.
They eventually settled this case for.
Settlements like this often amount to "" deals that are ultimately profitable for banks.
For more along these lines, see concise summaries of deeply revealing from kaszinó €400 luckland to 200fs up 100% major media sources.
The secretive Bilderberg Group.
It's only recently that the media has picked up on the Bilderbergers.
Meetings are closed to the public and the media, and no press releases are issued.
In the manner of a James Bond plot, up to 150 leading politicians and business people are to gather in a ski resort in Switzerland for four days of discussion about the future of the world.
Meetings often feature future political leaders shortly before they become household names.
Under the group's leadership of former US Secretary of State Henry Kissinger and one-time EU vice president, Viscount Davignon, the aim is purportedly to allow Western elites to share ideas.
But conspiracy theorists have accused it of everything from deliberately engineering the credit crunch to planning to kill 80% of the world population.
Denis Healey, co-founder of the group, told the journalist Jon Ronson treasure mile casino 100% bis zu €500 his book that.
The conspiracy theorists may get overexcited, but they have a point, says Prof Andrew Kakabadse.
The group has genuine power that far outranks the World Economic Forum, which meets in Davos, he argues.
And with no transparency, it is easy to see why people are worried about its influence.
The theme at Bilderberg is to bolster a consensus around free market Western capitalism and its interests around the globe, he says.
Thankfully, the has had some good articles.
And a can be highly informative.
For many other revealing news articles from major media sources on powerful secret societies.
And for reliable information covering the big picture of how and why these secret societies are using government-sponsored mind control programs to achieve their agenda.
On the third Wednesday of every month, the nine members of an elite Wall Street society gather in Midtown Manhattan.
The men share a common goal: to protect the interests of big banks in the vast market for derivatives, one of the most profitable — and controversial — fields in finance.
They also share a common secret: The details of their meetings, even their identities, have been strictly confidential.
Drawn from giants like JPMorgan Chase, Goldman Sachs and Morgan Stanley, the bankers form a powerful committee that helps oversee trading in derivatives, instruments which, like insurance, are used to hedge risk.
In theory, this group exists to safeguard the integrity of the multitrillion-dollar market.
In practice, it also defends the dominance of the big banks.
The banks in this group.
The size and reach of this market has grown rapidly over the past two decades.
Pension funds today use derivatives to hedge investments.
States and cities use them to try to hold down borrowing costs.
Airlines use them to secure steady fuel prices.
Food companies use them to lock in prices of commodities like wheat or beef.
Note: To explore highly revealing news articles on the powerful secret societies which without doubt back these top bankers.
For a treasure trove of reports from reliable sources detailing the amazing control of major banks over government and society.
Each household in the top 400 of earners paid an average tax rate of 16.
Their average effective tax rate was about half the 29.
On an inflation-adjusted basis, their average income grew almost fivefold since 1992.
Almost three-quarters of the highest earners' income was in capital gains and dividends taxed at a 15 percent rate set as part of Bush-backed tax cuts in 2003.
Note: For key reports from treasure mile casino 100% bis zu €500 media sources on income inequality.
And for a powerful summary of 10 top corporations which avoided taxes in most egregious ways, see the excellent list compiled by independent U.
Senator Bernie Sanders at.
Derivative contracts total about three-quarters of a quadrillion dollars in "notional" amounts, according to the Bank for International Settlements.
These contracts are tallied in notional values because no one really can say how much they are worth.
But valuing them correctly is exactly what we should be doing because these comprise the viral disease that has infected the financial markets and the economies of the world.
And we hope to keep the entire U.
Compare any of these to the derivatives market and you can easily see that we are just closing the windows as a tsunami crashes to shore.
To be sure, the derivatives market is international.
But much of the trouble we're in began with contracts "derived" from the values associated with U.
These contracts were engineered based on the various assumptions tied to those values.
Few know what derivatives are worth.
I spoke with one derivatives trader who manages billions of dollars and she said she couldn't even value her portfolio because "no one knows anymore who is on the other side of the trade.
But what will happen if losses in the derivatives market skyrocket?
No government in the world has the resources to save financial corporations from a collapse in their derivatives trading.
For a treasure trove of reports from reliable sources detailing the amazing control of major banks over government and society.
For seven generations, one European family has dominated an incredible part of all that money can buy.
From its London and Paris banks, the family's millions have been sent forth to.
Some of its stately dwellings are the kind of mansions that mere San Simeons hoped to imitate.
This ancient and unusual banking dynasty shields itself from the curious eye of the public, but the map and history of Europe have been changed by its action and etched with its name: the House of Rothschild.
Seldom unimaginative in the use of their money, Rothschild gold has powered the ambitions of prime ministers, princes and popes.
It has financed wars and reparations treaties, changed the course of politics and bailed out armies and nations.
Newer dynasties such as the Rockefellers and the Fords have made more millions, but.
Today, the legend is very much alive—and being added to.
The Rothschilds are striking out in many new directions behind a silver curtain of discretion.
Rather than run companies by themselves, the Rothschilds often prefer to start or join syndicates, placing their men on boards to exert maximum influence with minimum investment risk.
Note: To read the full, fascinating article.
The major media have very rarely exposed the power and wealth of the Rothschilds as in this article.
Note that the article was written less than a month after the assassination of John F.
Could it be because of some anger at the elite who killed Kennedy that this highly revealing article was actually published?
For more on secret societies which command huge hidden power, see the deeply revealing reports from reliable major media sources.
The firms concluded, however.
The fabricated numbers disguise the fact that the DoD does not always spend all of the money Congress allocates in a given year.
Note: Other than the above article, and weak Bloomberg and articles, the major media blatantly failed to report on the Pentagon's outrageous accounting failure.
CNN posted not click at this page the problem, but how the Pentagon claims they are fixing the problem.
This demonstrates the military-industrial complex's strangle hold over media reporting.
To understand just how serious and deep this problem is, see our using reliable sources to show how trillions are missing and reveal rampant deception and outright lying on the part of the Pentagon.
Earlier this year, a Michigan State University economist, working with graduate students and a former government official, found in the departments of Defense and Housing and Urban Development for the years 1998-2015.
The work of Mark Skidmore and his team, which included digging into government websites and repeated queries to U.
Now, the Department of Defense it will conduct the first department-wide, independent financial audit in its history.
The Defense Department did not say specifically what led to the audit.
But the announcement came four days after Skidmore on USAWatchdog, a news outlet run by former CNN and ABC News correspondent Greg Hunter.
Typically, such adjustments in public budgets are only a small fraction of authorized spending.
Skidmore thought Fitts had made a mistake.
And don't miss this with Prof.
Mark Skidmore of Michigan State with even more startling news.
Why isn't the major media reporting this huge news?
In the summer of 2012, a subcommittee of the U.
Senate released a report.
No criminal charges were filed, and no executives or employees were prosecuted.
In the years since the mortgage crisis of 2008.
As recently as 2006, when Enron imploded, such titans as Jeffrey Skilling and Kenneth Lay were convicted of conspiracy and fraud.
Something has changed in the past decade, however, and federal prosecutions of white-collar crime are now at a twenty-year low.
As Jesse Eisinger, a reporter for ProPublica, explains in a.
After the mortgage crisis, people in Washington and on Wall Street expected prosecutions.
Eisinger reels off a list of potential candidates for criminal charges: Countrywide, Washington Mutual, Lehman Brothers, Citigroup, A.
Although fines were paid.
Note: For more along these lines, see concise summaries of deeply revealing news articles on and in the.
Critics say it should look closer to home.
America itself is emerging as a top tax haven alongside the likes of Switzerland, the Cayman Islands and Panama.
And states such as Delaware, Nevada, South Dakota and Wyoming, in particular, are competing with each other to provide foreigners with the secrecy they crave.
America's openness to foreign tax evaders is coming under new scrutiny after the leak this week of 11.
Christensen's group, which campaigns for a global crackdown on tax evaders, says the United States ranks third in the world in financial secrecy, behind Switzerland and Hong Kong but ahead of notorious tax havens such as the Cayman Islands and Luxembourg.
Under a 2010 law, passed after it was learned that the Swiss bank UBS helped thousands of Americans evade U.
American banks don't even collect the kind of information foreign countries would need to identify tax dodgers.
Note: A 2015 Guardian newspaper article further describes how the US helps the.
For more along these lines, see concise summaries of deeply revealing news articles from reliable major media sources.
On Page 5 of a credit card contract used by American Express.
By inserting individual arbitration clauses into a soaring number of consumer and employment contracts, companies like American Express and bar people from joining together in class-action lawsuits, realistically the only tool citizens have to fight illegal or deceitful business practices.
It has become increasingly difficult to apply for a credit card, use a cellphone, get cable or Internet service, or shop online without agreeing to private arbitration.
The same applies to getting a job, renting a car or placing a relative in a nursing home.
By banning class actions, companies have essentially disabled consumer challenges to.
Young, a federal judge.
And the rules of arbitration largely favor companies.
Note: For more along these lines, see concise summaries of deeply revealing news articles about corruption in and throughout the.
The May 20 settlement between the Justice Department and five giant banks reveals the appalling weakness of modern antitrust.
The banks had engaged in the biggest price-fixing conspiracy in modern history.
It was a "brazen display of collusion" that went on for years, Attorney General Loretta Lynch.
America used to have antitrust laws that permanently stopped corporations from monopolizing markets.
The result has been higher prices for the many, and higher profits for the few.
It's a hidden upward redistribution from the majority of Americans to corporate executives and wealthy shareholders.
Similar upward distributions are occurring elsewhere in the economy.
The control 82 percent of beef packing, 85 percent of soybean processing, 63 percent of pork packing, and 53 percent of chicken processing.
Big Agribusiness wants to keep it this way.
The list goes on, industry after industry, across the economy.
Antitrust has been ambushed by the giant companies it was designed to contain.
The market is rigged.
And unless government unrigs it through bold antitrust action to restore competition, the upward distributions hidden inside the "free market" will become even larger.
Note: The above article was written by former US Secretary of Labor and current professor of public policy at UC Berkeley Robert Reich.
For more along these lines, see concise summaries of deeply revealing news articles about the systemically corrupt and the that this contributes to.
The Securities and Exchange Act of 1934 banned insider trading but left it up to the Securities and Exchange Commission and the courts to define it.
If his buddy leaks the information to a hedge fund manager and doesn't say where it came from, the hedge fund manager can also use the information to make a bundle.
CEOs and other top executives.
That didn't used to be legal.
Until 1981, the Securities and Exchange Commission required companies to publicly disclose the amount and timing of their buybacks.
But Ronald Reagan's SEC removed those restrictions.
Bush's SEC allowed top executives, even though technically company "insiders".
Now it's normal practice.
Many CEOs are making vast fortunes not because they're good at managing their corporations but because they're good at using insider information.
Note: Is the trend to relax the rules on insider trading related to between big banks and government?
For more along these lines, see these concise summaries of deeply revealing articles about widespread corruption in and.
In the 1930s, Henry Ford is supposed to have remarked that it was a good thing that most Americans didn't know how banking really works, because if they did, "there'd be a revolution before tomorrow morning".
Last week, something remarkable happened.
The Bank of England let the cat out of the bag.
In a paper called "", co-authored by three economists from the Bank's Monetary Analysis Directorate, they stated outright that most common assumptions of how banking works are simply wrong, and that the kind of populist, heterodox positions more ordinarily associated with groups such as Occupy Wall Street are correct.
To quote from its own initial summary: "Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits" When banks make loans, they create money.
This is because money is really just an IOU.
The role of the central bank is to preside over a legal order that effectively grants banks the exclusive right to create IOUs of a certain kind, ones that the government will recognise as legal tender by its willingness to accept them in payment of taxes.
There's really no limit on how much banks could create.
The Bank's job is to actually run the system, and of late, the system has not been running especially well.
Note: For more along these lines, see the excellent, reliable resources provided in our.
As we note its centennial, what has the Fed accomplished during the last 100 years?
The stated original purposes were to protect the soundness of the dollar and banks and also to lessen the jarring ups and downs of the business cycle.
Depending on what measurements are used, the dollar has lost between 95 and 98 percent of its purchasing power.
Having failed to achieve its original goals, the Fed also has had a miserable record in accomplishing later goals.
Well, it has become adept at bailing out mismanaged banks.
In the aftermath of the 2008 financial crisis, the Fed orchestrated the big bailout of Wall Street.
Politically, the Fed is repugnant.
Its chairman is commonly referred to as the second most powerful person in the country.
In a democratic republic, should the second most powerful policymaker be unelected?
Note: How remarkable for Forbes to publish an article chastising the Fed!
The times are a changin'!
For an essay by noted financial researcher Ellen Brown on this occasion.
For more on the collusion between government and the biggest banks, see the deeply revealing reports from reliable major media sources.
My first year on Wall Street, 1993, I was paid 14 times more than I earned the prior year and three times more than my father's best year.
For that money, I helped my company create financial products that were disguised to look simple, but which required complex math to properly understand.
When I did ask, rather naively, if this was all kosher, I would be assured multiple times that multiple lawyers and multiple managers had approved the sales.
If a customer wants a red suit, you sell them a red suit.
If that customer is Japanese, you charge him twice what it costs.
Here take a big check.
I was, for the first time in my life, feeling valued for my math skills.
Ego and money are nice salves for any potential feeling of guilt.
After a few years on Please click for source Street it was clear to me: you could make money by gaming anyone and everything.
The more clever you were, the more ingenious your ability to exploit a flaw in a law or regulation, the more lauded and celebrated you cazinoul 24 bettle 100% €240 240fs />Nobody seemed to be getting called out.
No move was too audacious.
Traders got more and more audacious, and corruption became more and more diffused through the system.
By 2006 you could open up almost any major business, look at its inside workings, and find some wrongdoing.
Note: For more on financial corruption, see the deeply revealing reports from reliable major media sources.
A new trove of embarrassing documents shows how they did it.
Everybody else got plenty of blame: the greed-fattened banks, the sleeping regulators, the unscrupulous mortgage hucksters.
But what about the ratings agencies?
In incriminating e-mail after incriminating e-mail, executives and analysts from these companies are caught admitting their entire business model is crooked.
Ratings agencies are the glue that ostensibly holds the entire financial industry together.
Their primary function is to help define what's safe to buy, and what isn't.
But the financial crisis happened because AAA ratings stopped being something that had to be earned and turned into something that could be paid for.
The Financial Crisis Inquiry Commission published a case study in 2011 of Moody's in particular and discovered that between 2000 and 2007, the agency gave nearly 45,000 mortgage-backed securities AAA ratings.
One year Moody's doled out AAA ratings to 30 mortgage-backed securities every day, 83 percent of which were ultimately downgraded.
Note: This is another great, well researched article by Rolling Stone's Matt Taibbi.
Why isn't the major media coming up with anything near the quality of this man's work?
For deeply revealing reports from reliable major media sources on financial corruption.
Dealers colluded with counterparts to boost chances of moving the rates, said two of the people, who worked in the industry for a total of more than 20 years.
The behavior occurred daily in the spot foreign-exchange market and has been going on for at least a decade, affecting the value of funds and derivatives, the two traders said.
The inherent conflict banks face between executing client orders and profiting from their own trades is exacerbated because most currency trading takes place away from exchanges.
Note: For deeply revealing reports from reliable major media sources on financial corruption.
Under an emergency deal reached early Saturday in Brussels, a one-time tax of 9.
But smaller deposits will also be taxed, at 6.
The "deposit tax", which is expected to raise 5.
The Cypriot bailout follows those for Greece, Portugal, Ireland and the Spanish banking sector — and is the first where bank depositors will be touched.
Note: What gives anyone the right to seize the deposits of ordinary bank account holders?
Is this the first step towards establishing a precedent for governments to seize anything they want from ordinary citizens?
For a report indicating that the Cypriot people may not take this attack lying down.
The US is the world's largest prison state, imprisoning more of its citizens than any nation on earth, both in absolute numbers and proportionally.
It imprisons people for longer periods of time, more mercilessly, and for more trivial transgressions than any nation in the west.
This sprawling penal state has been constructed over decades, by both political parties, and it punishes the poor and racial minorities at overwhelmingly disproportionate rates.
But not everyone is subjected to that system of penal harshness.
It all changes radically when the nation's most powerful actors are caught breaking the law.
With few exceptions, they are gifted not merely with leniency, but full-scale immunity from criminal punishment.
Thus have the most egregious crimes of the last decade been fully shielded from prosecution when committed by those with the greatest political and economic power: the construction of a worldwide torture regime, spying on Americans' communications without the warrants required by criminal law by government agencies and the telecom industry, an aggressive war launched on false pretenses, and massive, systemic financial fraud in the banking and credit industry that triggered the 2008 financial crisis.
On Tuesday, not only did the US Justice Department announce that HSBC would not be criminally prosecuted, but outright claimed that the reason is that they are too important, too instrumental to subject them to such disruptions.
hello 100% up to 25fs For deeply revealing reports from reliable major media sources on government corruption.
When the people of Greece saw their democratically elected Prime Minister George Papandreou forced out of office in November of 2011 and replaced by an unelected Conservative technocrat, Lucas Papademos, most were unaware of the bigger picture of what was happening.
But now, as the Bank of England.
All were former bankers and executives at the Wall Street giant, all assumed prominent positions of power, and all played a hand after the global financial meltdown of 2007-08, thus making sure Goldman Sachs weathered the storm and made significant profits in the process.
As the British newspaper earlier this year, the Conservative technocrats currently steering or who have steered post-crash fiscal policy in Greece, Germany, Italy, Belgium, France, and now the UK, all hail from Goldman Sachs.
In fact, the head of the European Central Bank itself, Mario Draghi, was the former managing director of Goldman Sachs International.
Note: Once again carries this important article and vital information which no major media has covered.
Strangely, the entire website went down for a while not long after the article was published.
If the article cannot be found at the link above.
For deeply revealing reports from reliable major media sources on financial corruption.
Regulators on both sides of the Atlantic failed to act on clear warnings that the Libor interest rate was being falsely reported by banks during the financial crisis, it emerged last night.
A cache of documents released yesterday by the New York Federal Reserve showed that US officials had evidence from April 2008 that Barclays was knowingly posting false reports about the rate at which it could borrow in order to assuage market concerns about its solvency.
An unnamed Barclays employee told a New York Fed analyst, Fabiola Ravazzolo, on 11 April 2008: "So we know that we're not posting, um, an honest Libor.
The verbatim note of the call released by the Fed represents the starkest evidence yet that Libor-fiddling was discussed in high regulatory circles years before Barclays' recent Ł290m fine.
The New York Fed said that, immediately after the call, Ms Ravazzolo informed her superiors of the information, who then passed on her concerns to Tim Geithner, who was head of the New York Fed at the time.
Mr Geithner investigated and drew up a six-point proposal for ensuring the integrity of Libor which he presented to the British Bankers Association, which is responsible for producing the Libor rate daily.
Mr Geithner, who is now US Treasury Secretary, also forwarded the six-point plan to the Governor of the Bank of England, Sir Mervyn King.
Note: For deeply revealing reports from reliable major media sources on regulatory and financial corruption and criminality.
For our highly revealing Banking Corruption Information Center.
Motorists may have been paying too much for their petrol because banks and other traders are likely to have tried to manipulate oil prices in the same way they rigged interest rates, an official report has warned.
The rate is calculated by data companies based on submissions from firms which trade oil on a daily basis — such as banks, hedge funds and energy companies.
This is one of the major concerns raised in the G20 report, published last month by the International Organisation of Securities Commissions IOSCO.
In the study for global finance ministers, including George Osborne, the regulator warns that traders have opportunities to influence oil prices for their own profit.
Note: For deeply revealing reports from reliable major media sources on regulatory and financial corruption and criminality.
A scandal over the rigging of key interest rates could plunge the global banking industry into a legal morass for years, analysts said.
The head of the Bank of England said there needed to be "real change" in the industry's culture.
Others predicted Barclays and other banks could face billions in costs from litigation, especially in the United States, in much the same way that oil major BP ran into drawn-out legal rows over its oil spill.
Barclays was the first bank to settle in an investigation which is looking at other large financial institutions in Europe, Japan and North America.
And it is being hugely manipulated.
For more vitally important information on this, learn about the huge amounts of derivatives being manipulated at and explore the excellent, reliable information in our Banking Corruption Information Center.
Today is my last day at Goldman Sachs.
My clients have a total asset base of more than a trillion dollars.
After almost 12 years at the firm.
I believe I have worked here long enough to understand.
And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.
To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money.
Today, if you make enough money for the firm and are not currently an ax murderer you will be promoted into a position of influence.
What are three quick ways to become a leader?
I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients.
It's purely about how we can make the most possible money off of them.
For an excellent compilation of news articles and government documents showing the huge risk of the derivatives bubble being manipulate by Goldman Sachs and others.
The notional amount of derivatives held by insured U.
Notional derivatives are 5.
Derivatives activity in the U.
The five banks with the most derivatives activity hold 96% of all derivatives.
Insured commercial banks have more limited legal authorities than do their holding companies.
please click for source Graphs in this OCC report pg.
If the above link fails.
For quarterly derivative reports by the OCC going back to 1995.
The memo outlines a 60-day plan to conduct surveys and research on OWS and its supporters so that Wall Street companies will be prepared to conduct a media campaign in response to OWS.
The same insider trading that can land a regular citizen in jail is perfectly legal for members of Congress.
Steve Kroft reports on how America's lawmakers can legally make tidy profits on information only they know, simply because they won't pass a law against themselves.
Among the revelations in Kroft's report: Members of Congress have bought stock in companies while laws that could affect those companies were being debated in the House or Senate.
At least one representative made significant stock purchases the day after he and other members of Congress attended a secret meeting in September 2008, where the Fed chair and the treasury secretary informed them of the imminent global economic meltdown.
The meeting was so confidential that cell phones and other digital devices were confiscated before it began.
Efforts to make such insider trading off limits to Washington's lawmakers have never been able to get traction.
Brian Baird says he spent half of his 12 years in Congress trying to get co-sponsors for a bill that would ban insider trading in Congress and also set some rules up to govern conflicts of interest.
In 2004, he and Rep.
Louise Slaughter introduced the "Stock Act" to stop the insider trading.
How far did they get?
Just flat died," he tells Kroft.
Note: To better understand how the US Congress protects itself in insider trading, read this and this one.
It's the dark heart of Britain, the place where democracy goes to die, immensely powerful, equally unaccountable.
But I doubt that one in 10 British people has any idea of what the Corporation of the City of London is and how it works.
As Nicholas Shaxson explains in his fascinating bookthe Corporation exists outside many of the laws and democratic controls which govern the rest of the United Kingdom.
The City of London is the only part of Britain over which parliament has no authority.
In one respect at least the Corporation acts as the superior body: it imposes on the House of Commons a figure called the remembrancer: an official lobbyist who sits behind the Speaker's chair and ensures that, whatever our elected representatives might think, the City's rights and privileges are protected.
The mayor 【ペルソナ5】永久キーピックの作り方と素材の入手方法|効率の良い水銀やアルミ板の入手場所 London's mandate stops at the boundaries of the Square Mile.
The City has exploited this remarkable position to establish itself as a kind of offshore state, a secrecy jurisdiction which controls the network of tax havens housed in the UK's crown dependencies and overseas link />This autonomous state within our borders is in a position to launder the ill-gotten cash of oligarchs, kleptocrats, gangsters and drug barons.
It has also made the effective regulation of global finance almost impossible.
Note: To understand how democracy is easily circumvented, read this full article.
For lots more from reliable sources on the hidden background to the control over governments held by financial powers.
Wall Street's total price tag on settlements with U.
And the SEC's investigation of the Wall Street mortgage machine isn't over yet.
Lorin Reisner, deputy enforcement director at the SEC, said civil mortgage-related cases against Goldman, J.
In addition to Citigroup, the total includes Goldman, J.
Note: For lots more from major media sources on the illegal profiteering of major financial corporations.
Treasury, yet until now the full amounts have remained secret.
Fed Chairman Ben S.
Even as the firms asserted in news releases or earnings calls that they had ample cash, they drew Fed funding in secret.
Note: For a treasure trove of information from reliable sources on the government transfer of public assets to private banks and financial corporations.
The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.
In fact, according to the report, the Fed provided conflict of interest waivers to employees and private contractors so they could keep investments in the same financial institutions and corporations that were given emergency loans.
The investigation also revealed that the Fed outsourced most of its emergency lending programs to private contractors, many of which also were recipients of extremely low-interest and then-secret loans.
Note: We don't normally use the website of a member of the U.
Senate as a source, but as amazingly none of the media covered this vitally important story other than on Forbes, we are publishing this here.
The GAO report to back up these claims is available for all to see at.
For how the media is so controlled, don't miss the powerful two-page summary with reports by many award-winning journalists at.
For another good article on the Fed's manipulations.
The more aggressively a bank lobbied before the financial crisis, the worse its loans performed during the economic downturn -- and the more bailout dollars it received, according to a study published by the National Bureau of Economic Research this week.
The report, titled "A Fistful of Dollars: Lobbying and the Financial Crisis," said that banks' lobbying efforts may be motivated by short-term profit gains, which can have devastating effects on the economy.
Data collected by the three authors -- Deniz Igan, Prachi Mishra and Thierry Tressel -- show that the most aggressive lobbiers in the financial industry from 2000 to 2007 also made the most toxic mortgage loans.
They securitized a greater portion of debt to pass the home loans onto investors and their stock prices correlated more closely to the downturn and ensuing bailout.
The banks' loans also suffered from higher delinquencies during the downturn.
Note: If the above link fails.
For lots more from reliable sources on corruption in the government bailouts of the biggest banks.
Just under three years ago, people in the village of Gumbi in western Malawi went unexpectedly hungry.
Not like Europeans do if they miss a meal or two, but that deep, gnawing hunger that prevents sleep and dulls the senses when there has been no food for weeks.
Oddly, there had been no drought, the usual cause of malnutrition and hunger in southern Africa, and there was plenty of food in the markets.
For no obvious reason the price of staple foods such as maize and rice nearly doubled in a few months.
Unusually, too, there was no evidence that the local merchants were hoarding food.
It was the same story in 100 other developing countries.
There were food riots in more than 20 countries and governments had to ban food exports and subsidise staples heavily.
A new theory is emerging among traders and economists.
The same banks, hedge funds and financiers whose speculation on the global money markets caused the sub-prime mortgage crisis are.
As food prices soar again to beyond 2008 levels, it becomes clear that everyone is now being affected.
Food prices are now rising by up to 10% a year in Britain and Europe.
What is more, says the UN, prices can be expected to rise at least 40% in the next decade.
Note: Remember that speculation is behind almost all of the economic bubbles and busts.
The price of oil spiked a couple years ago almost purely because of speculators, while the oil companies raked in record profits.
It looks like the speculators are now driving food prices as high as they can.
For a treasure trove of reports from reliable sources investigating the many different strategies used by financial corporations to enrich themselves at the expense of common people.
They've got a table showing how incomes would look if growth had been equally are x casino 100% up to €2000 200fs share from 1979 to 2006 -- much as it was in the decades before 1979.
That's a 23 percent raise those folks didn't get -- and that I'm sure they would've noticed.
The top 1 percent.
That's real, serious money we're talking about.
The top 1 percent now accounts for 23.
In 1979, they only had 9.
During that same period, tax rates on the richest Americans have actually dropped.
So as the economy went one way -- toward more money going to the rich -- the tax system went the other.
Note: For lots more on income inequality from reliable sources.
Inside the humdrum offices of a tiny trading firm called Tradeworx, workers.
In a blink, some of the most powerful players in the stock market — high-frequency traders — went dark.
The result sent chills through the financial world.
Over the last decade, these high-tech operators have become sort of a shadow Wall Street — from New Jersey to Kansas City, from Texas to Chicago.
Depending on whose estimates you believe, high-frequency traders account for 40 to 70 percent of all trading on every stock market in the country.
Some of the biggest players trade more than a billion shares a day.
These are short-term bets.
The founder of Tradebot, in Kansas City, Mo.
Tradebot, one of the biggest high-frequency traders around, had not had a losing day in four years, he said.
Note: For key reports on the dubious practices which underlay the financial crisis and the impoverishment of the public treasury.
Mark Pittman, an investigative reporter for Bloomberg News.
That was in September 2008.
Just more than a year learn more here, Mr.
But his cause has persevered.
It is now known as Bloomberg L.
Its secrecy, of course, persists today, with Ben S.
Bernanke, the Federal Reserve chairman, refusing to tell even Congress which banks received government money under the bailout.
There is also a heated battle to force the Fed to disclose its role in the controversial attempt to save the insurance giant American International Group.
Note: Isn't it interesting that Pittman died at age 52 while trying to expose manipulations of the big bankers?
For a one-minute video proving the existence of a secret weapon which can cause an undetectable heart attack.
For a concise, excellent background on the hidden role of the Federal Reserve.
Hold two days of closed-door meetings at the New York Fed.
Do not publicize a list of attendees and leave everyone guessing about the agenda.
If so, why not have the meeting open and widely covered by the press?
For many other revealing articles from major media reports on secret societies and secret meetings of the most rich and powerful people in our world.
Twice a year, the chairmen and chief executives of Europe's biggest banks gather in secret.
They meet under the auspices of a hush-hush club formed after World War II, whose operations are so mysterious that even the grandees who attend it seem unclear what it's really called.
One bank supremo told me its name was the Instituts d'Etudes Financieres.
Either way, what I can tell you is that it attracts a pretty high calibre of banker - and that its last meeting was just a few weeks ago at the plush London hotel, Claridges, where the main item on the agenda was the topical question of bankers' bonuses.
Stephen Green of HSBC, Philip Hampton of RBS, Marcus Agius of Barclays and David Mayhew of JP Morgan Cazenove, and their counterparts from Germany, Italy, France and so on.
Now, let's be clear: the idea that banks would ever collude to solve a mutual problem would be an outrageous and unwarranted slur.
That said, they would dearly love a collective agreement to cease hostilities on bankers' pay, because they know there is a one-to-one correlation between each million pound bonus they pay and damage to their reputations.
But although they explored whether they could reach an entente on capping bankers' pay, they abandoned the ambition as a hopeless cause.
Because they can't get the Americans into the room.
So what is the going rate for RBS's top profit generators?
Note: You can bet that the money for this year's bonuses is coming out of taxpayers' pockets through the huge bailouts.
For many other revealing articles from major media reports on secret societies and secret meetings of the most rich and powerful people in our world.
JUDGE ANDREW NAPOLITANO, HOST: Despite growing pressure from the House and ordinary people, the Senate decided not to increase scrutiny on the Federal Reserve.
They actually blocked a bid on procedural grounds to have the Government Accountability Office audit the Federal Reserve and issue a report.
Here is Republican Senator Jim DeMint.
Why should the Federal Reserve be audited?
We're not sure what they're doing right now.
And Ron Paul in the House with over half of the House signing up as cosponsors, and me and Bernie Sanders in the Senate are pushing the idea of a complete audit of the Federal Reserve, because frankly, a lot of us here in this country and around the world, are concerned that we're going to destroy the American dollar and the worldwide reserve currency.
NAPOLITANO: How is it that legislation that has more than half the members of the House behind it and is proposed by a staunch conservative Republican like you and then independent socialists like Bernie Sanders is stopped on the floor of the Senate cold before you can even formally introduce it, before you can make a speech in favor of it?
DEMINT: Well, if we could get the Federal Reserve under control, it would make it more difficult for the Obama administration, I think, to carry out the continued spending and growing of debt.
Because one thing we're concerned about is the Federal Reserve.
Note: For two powerful, short videos revealing efforts to expose the intriguing secrets of the Federal Reserve, and.
If treasure mile casino 100% bis zu €500 care about the financial health of the U.
President Obama must stop the bailouts and start the prosecutions.
It's time to focus on anti-poverty programs to protect the growing unemployed from hunger and homelessness.
Stealth payments to billionaire bondholders must cease immediately.
Since the mid-1970s, average Americans' wages have stayed flat when adjusted for inflation.
Productivity rose, profits rose, but not wages.
To compensate for stagnant wages and the desire to consume more each year, Americans worked more, retired later, spouses went to work, and many burned savings.
Then they started borrowing.
Debt became America's growth industry.
The scheme collapsed because Americans' wages weren't sufficient to pay the interest on existing debts.
The administration and the banks keep talking about a credit crisis, but there isn't one.
If you want a mortgage and can afford to pay it back, you can borrow at low rates today.
But most Americans don't want more debt because it is a debilitating path to poverty.
The average American family already pays 14 percent of annual income in interest to banks.
To fix this fake crisis, there are fake discussions about what the government must do.
The endlessly recycled plan to buy "troubled" assets isn't to get banks lending again, because they haven't stopped lending.
The plan seeks for taxpayers to buy worthless assets at high prices to absorb rich investors' losses.
It keeps coming back as a different plan, but with that same goal.
There is no goal beyond that one goal: keep rich people from taking losses.
Note: For an extensive archive of key reports on the hidden realities of the Wall Street bailout.
The revelation that Bernard Madoff — brilliant investor or so almost everyone thoughtphilanthropist, pillar of the community — was a phony has shocked the world, and understandably so.
Yet, at this point, it looks as if much of the industry has been destroying value, not creating it.
The incomes of the richest Americans have exploded over the past generation, even as wages of ordinary workers have stagnated.
High pay on Wall Street was a major cause of that divergence.
From Bush administration officials.
The pay system on Wall Street lavishly rewards the appearance of profit, even if that appearance later turns out to have been an illusion.
Note: This entire, penetrating article is well worth a read at the link above.
For many revealing reports from reliable sources on the realities of the Wall Street bailout.
The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed.
It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.
Bowing to aggressive lobbying - along with assurances from banks that the troubled mortgages were OK - regulators delayed action for nearly one year.
By the time new rules were released late in 2006, the toughest of the proposed provisions were gone and the meltdown was under way.
The administration's blind eye to the impending crisis is emblematic of its governing philosophy, which trusted market forces and discounted the value of government intervention in the economy.
Its belief ironically has ushered in the most massive government intervention since the 1930s.
Many of the banks that fought to undermine the proposals by some regulators are now either out of business or accepting billions in federal aid to recover from a mortgage crisis they insisted would never come.
In 2005, faced with ominous signs the housing market was in jeopardy, bank regulators proposed new guidelines for banks writing risky loans.
Those proposals all were stripped from the final rules.
Note: For many revealing reports on the Wall Street bailout from reliable sources.
In searing detail it exposed.
This financial meltdown involved a broad national breakdown in personal responsibility, government regulation and financial ethics.
So many people were in on it: People who had no business buying a home, with nothing down and nothing to pay for two years; people who had no business pushing such mortgages, but made fortunes doing so; people who had no business bundling those loans into securities and selling them to third parties, as if they were AAA bonds, but made fortunes doing so; people who had no business rating those loans as AAA, but made fortunes doing so; and people who had no business buying those bonds and putting them on their balance sheets so they could earn a little better yield, but made fortunes doing so.
Citigroup was involved in, and made money from, almost every link in that chain.
Note: For many revealing reports on the Wall Street bailout from major media sources.
What effect will that have on the business side and will it change our strategic lending policy?
In fact, Treasury wants banks to acquire each other and is using its power to inject capital to force a new and wrenching round of bank consolidation.
Treasury would even funnel some of the bailout money to help banks buy other banks.
And, in an almost unnoticed move, it recently put in place a new tax break, worth billions to the banking industry, that has only one purpose: to encourage bank mergers.
No wonder the legislation was rushed through without discussion!
For lots more highly revealing reports on the Wall Street bailout.
Some 27 heads of state or government; 113 cabinet ministers; hundreds of chief executives, bankers, sovereign wealth fund managers, economists and the media: about 2,500 participants in all.
So who's coming and what will they be chattering about?
The official co-chairs of the Forum are mostly well-known names: Tony Blair, of JP Morgan; James Dimon, chairman and CEO of JP Morgan; KV Kamath, MD and CEO of India's ICICI Bank; Henry Kissinger, chairman of Kissinger Associates; Indra K Noovi, chairman and CEO of PepsiCo; David J O'Reilly, chairman and CEO of Chevron Corporation; and Wang Jianzhou, CEO of China Mobile Communications Corporation.
The prominent role allotted to Mr Wang, while not entirely novel, is nonetheless significant.
In 2008, for the first time, China will contribute more to the growth of the world economy than the United States.
Double-digit growth in China should still just be possible this year, and it alone seems to stand between the world and a full-blown recession.
Sovereign wealth funds SWFs from China and elsewhere have already been busy re-capitalising the West's stricken banks.
The recycling of trillions of dollars of trade surpluses and petro dollars means that such deals will become more prevalent.
Note: Yet these meetings are kept largely secret.
Why isn't the media giving lots more coverage to this gathering of some of the most powerful people on the planet?
For other reliable, verifiable reports on secret meetings of the power elite of the world.
Derivatives of debt, currencies, commodities, stocks and interest rates rose 25 percent from the previous six months, the biggest jump since the Basel, Switzerland-based bank began compiling the data.
Investors have been turning to credit derivatives as a way to speculate on a growing risk of defaults amid record U.
Derivatives are financial instruments derived from stocks, bonds, loans, currencies and commodities, or linked to specific events like changes in interest rates or the weather.
The report is based on contracts traded outside of exchanges in over-the- counter market.
Note: Like most reporting in the major media, this article trivializes the massive size of the derivatives market.
Do you think the financial industry is out of control?
For lots more powerful, reliable information on major banking manipulations.
For a powerful analysis describing just how crazy things have gotten and giving some rays of hope by researcher David Wilcock.
The most important--and unfortunately the least debated--issue in politics today is our society's steady drift toward a class-based system, the likes of which we have not seen since the 19th century.
America's top tier has grown infinitely richer and more removed over the past 25 years.
Few among them send their children to public schools; fewer still send their loved ones to fight our wars.
They own most of our stocks, making the stock market an unreliable indicator of the economic health of working people.
The top 1% now takes in an astounding 16% of national income, up from 8% in 1980.
The tax codes protect them, just as they protect corporate America, through a vast system of loopholes.
Incestuous corporate boards regularly approve compensation packages for chief executives and others that are out of logic's range.
When I graduated from college in the 1960s, the average CEO made 20 times what the average worker made.
Today, that CEO makes 400 times as much.
Trickle-down economics didn't happen.
Wages and salaries are at all-time lows as a percentage of the national wealth.
This ever-widening divide is too often ignored or downplayed by its beneficiaries.
A sense of entitlement has set in among elites, bordering on hubris.
Note: For some reason the Wall Street Journal has removed this article.
You can read things, gate 777 casino 100% up to €100 25es for on the website of the article's author at.
By 2000, the company has grown into the largest natural gas merchant in North America, eventually branching out into trading other commodities.
Jeff Skilling is named CEO, and treasure mile casino 100% bis zu €500 company stock skyrockets.
Note: Watch this revealing documentary on.
Enron was American's and controlled 25 percent of the nation's energy before it failed in 2002.
For more along these lines, see concise summaries of deeply revealing from reliable major media sources.
The news that the bankers Rothschild are to withdraw from the gold market, in which they have been a major player for two centuries, has been hailed as the end of an era.
In one sense, of course, it is.
But in another way it marks out the continuation of an even older tradition - the ability of the family which has founded one of the world's largest private banking dynasties to sustain their secretive fortune, which industry insiders count not in billions but in trillions, and keep it within the family.
Secrecy has been a hallmark of the Rothschilds from the outset.
The Rothschilds created the world of banking as we know it today.
It brought investment in railways, the industrial revolution and ventures like the Suez Canal.
The Rothschilds got a cut of everything.
They made billions in the 1980s from Margaret Thatcher's privatisations of state-owned industries on which they advised.
In France after their bank was nationalised by the Socialist president Francois Mitterrand they slowly built a new business which, under Baron David de Rothschild, has risen to the top ranks of the merger and acquisition league tables.
They have pulled out of retail fund management - into which they went with much fanfare only three years back - and now they are pulling out of oil and gold in favour of the higher-margin areas of private banking and wealth management Note: For some reason this article was removed from the website of the Independent, which is why the above link takes you to a cached version of this revealing article.
For more on financial corruption, see the deeply revealing reports from reliable major media sources.
The nonpartisan General Accounting Office has raised the volume of its perennial complaints about the financial woes at Defense, which recently failed its seventh audit in as many years.
Recent government reports suggest the Pentagon's money management woes have reached astronomical proportions.
A GAO report found Defense inventory systems so lax that the U.
Army lost track of 56 airplanes, 32 tanks, and 36 Javelin missile command launch-units.
When military leaders were scrambling to find enough chemical and biological warfare suits to protect U.
Henry Waxman, D-Los Angeles.
They were able to tell me how many tubes of toothpaste were in Fairfax, Va.
And DOD can't find its chem-bio suits.
Legislators are often more concerned about winning Pentagon pork than controlling defense waste.
Note: You can read the Page 17 on missing planes.
Page two states, "To date, no major part of DOD has yet been able to pass the test of an independent audit.
Why wasn't and isn't this front page headlines?
Why are newspaper editors keeping this most vital information from the public?
Joseph Stiglitz, ex-chief economist of the World Bank.
From sources unnamable not Stiglitzwe obtained a cache of documents marked, 'confidential' and 'restricted'.
Stiglitz helped translate one, a 'country assistance strategy'.
There's an assistance strategy for every poorer nation, designed, says the World Bank, after careful in-country investigation.
But according to insider Stiglitz, the Bank's 'investigation' involves little more than close inspection of five-star hotels.
It concludes with a meeting with a begging finance minister, who is handed a 'restructuring agreement' pre-drafted for 'voluntary' signature.
The Bank hands every minister the same four-step programme.
Step One is privatisation.
Stiglitz said that rather than objecting to the sell-offs of state industries, some politicians - using the World Bank's demands to silence local critics - happily flogged their electricity and water companies.
After privatisation, Step Two is capital market liberalisation.
Stiglitz calls this the 'hot money' cycle.
Cash comes in for speculation in real estate and currency, then flees at the first whiff of trouble.
A nation's reserves can drain in days.
And when that happens, to seduce speculators into returning a nation's own capital funds, the IMF demands these nations raise interest rates to 30%, 50% and 80%.
Step Three: market-based pricing - a fancy term for raising prices on food, water and cooking gas.
Step Four: free trade.
This is free trade by the rules of the World Trade Organisation and the World Bank, which Stiglitz likens to the Opium Wars.
Note: For an essay by John Perkins, an insider who was directly involved in these severe manipulations.
For deeply revealing reports from reliable major media sources on government collusion in financial corruption.
We then must pay interest to the money brokers for the use of our own money.
In all our great bond issues, the interest is always greater than the principal.
All of the great public works cost more than twice the actual cost on that account.
The difference between the bond and the bill is that the bond lets the money brokers collect twice the amount of the bond.
Both are promises to pay: but one promise fattens the usurer, and the other helps the people.
It is the money broker, the money profiteer, the private banker, that I oppose.
It is a terrible situation when the Government.
The people must pay any way: why should they be compelled to pay twice as the bond system compels them?
Note: If the above link fails, you can read the a copy of the full, fascinating article at or.
The entire article contains lots of amazing revelations of how big bankers keep us in debt.
How fascinating that Ford and Edison, both ultra-wealthy businessmen, here are arguing strongly against the through which private bankers print US money and charge interest on it, and for the US government printing its own money.
This would avoid US citizens having to pay the big bankers all of the interest on much of the national debt.
For lots of evidence to support this way of thinking.
One of Washington's most prominent lobbying firms is on the verge of shuttering after becoming ensnared by special counsel Robert Mueller's investigation.
Kimberley Fritts, the chief executive of the Podesta Group, told employees during a Thursday staff meeting that the firm would cease to exist at the end of the year.
The developments come after the Podesta Group was tied last week to Mueller's indictments of Paul Manafort and Rick Gates, who pleaded not guilty after being charged with failing to file as foreign agents relating to a decade of work they did for.
Mueller's special investigation team has also interviewed multiple people from the Podesta Group, which was recruited by Manafort and Gates to work along with another firm.
Talk of potentially closing the Podesta Group marks a dramatic downfall of one of K Street's most iconic and well-connected firms.
In its heyday, Podesta Group was the largest non-law firm lobbying organization in Washington.
Tony Podesta, the firm's founder and chairman, helped fuel the company with work for foreign governments.
He and his brother, John, founded the company almost three decades ago.
John Podesta chaired Hillary Clinton's 2016 presidential campaign.
He left the firm in 1993.
Mueller is looking into whether the Podesta Group properly identified to federal authorities its foreign advocacy for.
Note: The Podesta brothers were deeply implicated in the Pizzagate affair.
Though many believe Pizzagate was just a "conspiracy theory," our shows powerful evidence that the Podestas were indeed involved in a child sex abuse ring.
Could it be that behind the curtains, some are taking action against the Podestas for their involvement in these child abuse rings?
For some intriguing, yet difficult to verify evidence along these lines, see.
The revelation quickly sparked a backlash from lawmakers still angry after Wells Fargo admitted last year that thousands of its employees had created millions of fake credit card and bank accounts for customers without their knowledge.
Sherrod Brown, the ranking Democrat on the Banking Committee, said in a statement.
Note: Read more about the.
Steve Glazer, chairman of the California Senate Banking and Financial Institutions Committee, recently compared this bank's actions with when its culture of corruption initially came to light.
For more along these lines, see concise summaries of deeply revealing from reliable major media sources.
Wells had fired more than 5,000 employees connected to the illegal sales practices, but done nothing to punish senior executives.
No one is buying the story that a scandal this large was the work of rogue employees at the bottom of the totem pole.
Part of the reason for the alleged unauthorized accounts was employees were pressured to meet unachievable sales goals.
Wells has also pledged to end the controversial sales goal program for employees in the retail banking division.
The financial meltdown of 2008.
Note: For more along these lines, see concise summaries of deeply revealing from reliable major media sources.
Like a lot of other Americans, Sen.
On Thursday, Warren released two highly provocative letters demanding some explanations.
One is torequesting a review of how federal law enforcement managed to whiff on all 11 substantive criminal referrals submitted by the Financial Crisis Inquiry Commission Herea panel set up to examine the causes of the 2008 please click for source />The other is toasking him to release all FBI investigations and deliberations related to those referrals.
None of the 14 financial firms listed in the referrals were criminally indicted or brought to trial, Warren writes.
Only five of the 14 even paid fines.
Note: For more along these lines, see concise summaries of deeply revealing news articles about corruption in and in the.
Wells Fargo fired 5,300 workers for improper sales push.
The lawmakers, including Sen.
Robert Menendez of New Jersey, said Wells Fargo's CEO, John G.
Stumpf, should be called to testify.
Note: For more along these lines, see concise summaries of deeply revealing from reliable major media sources.
UBS, the world's largest wealth manager, is facing embarrassment over fresh revelations going back to the tax investigation that led to the collapse of Swiss banking secrecy.
Two significant events are looming before UBS.
The first is the possibility of a public trial in France, featuring UBS whistleblower Bradley Birkenfeld, concerning historic tax evasion allegedly orchestrated by the bank.
The other is the publication.
The tax evasion controversy, which was first highlighted in 2005, subsequently involved the US Department of Justice, the State Department and Internal Revenue Service.
It was prompted by disclosures made by Birkenfeld that UBS had helped wealthy US citizens evade taxes.
Birkenfeld served 31 months in prison for one count of conspiracy to abet tax evasion by one of his clients.
However, Birkenfeld has since said that he was systematically prevented from giving testimony in open court — but this may be about to change thanks to the French authorities.
Birkenfeld claims the UBS cover­up stretches to the highest levels of the US establishment.
Note: Read a on how this courageous whistleblower managed to beat the system.
As a result of Birkenfeld's disclosures, Obama's suspicious ties with UBS were.
For more along these lines, see concise summaries of deeply revealing news articles on and in the.
But the candidates for president share an affinity for the same.
Famous for helping tens of thousands of companies avoid hundreds of millions of dollars in tax.
Hillary Clinton and Donald Trump have companies registered at 1209 North Orange, and have refused to explain why.
Bill Clinton set up WJC LLC, a vehicle to collect his consultation fees, at the same address in 2008.
They include Trump International Management Corp and several companies that form part of.
Note: The above article adds to the evidence that the US, which ranks in financial secrecy, is a.
For more along these lines, see concise summaries of deeply revealing news articles on and in the.
Bradley Birkenfeld is the most significant financial whistleblower of all time, so you might think he'd be cheering on the disclosures in the new Panama Papers leaks.
By the end of his whistleblowing career, Birkenfeld had served more than two years in a U.
Instead, he said, the hacking.
And there's something seriously sinister here behind this.
Read concise summaries of deeply revealing news articles about and in.
A USA Today analysis of more than 1,000 American-based companies registered by Mossack Fonseca, the law firm at the heart of the Panama Papers leak, casts the United States source into an uncomfortable role: an offshore haven of corporate secrecy for wealthy business operations across the globe.
Both Nevada and Wyoming have become secretive havens much like Bermuda and Switzerland have long been.
And at least 150 companies set up by Mossack Fonseca in those states have ties to major corruption scandals in Brazil and Argentina.
The corporate records of 1,000-plus Nevada business entities linked to the Panamanian law firm reveal layers of secretive ownership, with few having humans' names behind them, and most tracing back to a tiny number of overseas addresses.
For about 700 of the American shell companies, the corporate officers are business entities rather than people, meaning no individual is linked to the Nevada firm in state records.
For more along these lines, see concise summaries of deeply revealing news articles from reliable major media sources.
Massachusetts Senator Elizabeth Warren issued a stinging broadside against federal prosecutors on Friday, charging U.
In a new report, Sen.
Morganto a mine explosion that killed 29 people - the only instance of misconduct which led to a.
Note: Senator Elizabeth Warren was called "" by the Boston Globe in 2014.
For more along these lines, see concise summaries of deeply revealing news articles about corruption in and in the.
The Vatican announced Monday that two members of a commission set up by Pope Francis to study financial operations at the Holy See had been arrested on suspicion of leaking confidential documents to journalists.
Both books claim to offer glimpses of the turmoil surrounding Francis as he pursues his reforms of Vatican finances, the operations of the Curia and the Vatican bank.
Divulging confidential documents has been considered a crime in the Vatican since July 2013, after the leak of a cache of Vatican documents.
Fittipaldi said he had also discovered that money given to the church for the poor was used for other purposes.
For more along these lines, see concise summaries of deeply revealing news articles about corruption in and in the.
According to the New York Department of Financial Services, a banking regulator, Goldman hired Rohit Bansal from the Federal Reserve Bank of New York in May 2014, "in large part for the regulatory experience and knowledge he had gained while working at the New York Fed.
Once at Goldman, Bansal was instructed to work on a bank that he had supervised while at the Fed, despite explicit prohibitions against him doing so, NYDFS said.
Bansal later used confidential information, some of which he obtained from his prior employment at the NY Fed and some of which he obtained from from a former NY Fed colleague, in his work on the bank.
Goldman also agreed to admit that a former employee engaged in the criminal theft of confidential information and that Goldman management "failed to effectively supervise its employee to prevent this theft from occurring," NYDFS said.
In September 2014, for example, Bansal attended the birthday dinner of a former Fed colleague at Peter Luger's.
Immediately after the dinner, Bansal emailed his boss at Goldman "divulging confidential information concerning the regulated entity, specifically, the relevant component of the upcoming examination rating," NYDFS said.
Note: For more along these lines, see concise summaries of deeply revealing news articles about corruption in and in the.
A former Goldman Sachs banker suspected of taking confidential documents from a source inside the government has agreed to plead guilty, a rare criminal action on Wall Street, where Goldman itself is facing an array of regulatory penalties over the leak.
Under a tentative deal.
For Goldman and the New York Fed, the case is likely to give new life to an embarrassing episode that illustrated the blurred lines between their institutions.
The Goldman banker, Rohit Bansal, previously spent seven years as a regulator at the New York Fed.
Note: For more along these lines, see concise summaries of deeply revealing news articles about corruption in and in the.
The scale of the payouts, equivalent to the annual economy of Greece or Portugal, has hampered banks' efforts to rebuild capital, reduced dividends for investors and cut the amount firms are able to lend.
The misconduct bill is expected to rise by tens of billions more dollars, and many politicians, regulators and industry observers said more needs to be done.
If you can shift a rate fractionally you can make millions and millions of dollars for your bank and then for bonuses.
Despite the scale of fines and compensation paid by banks, relatively few individuals have been punished.
Data compiled by Reuters.
Note: Big bank settlements often amount to "" deals that are ultimately profitable for banks.
For more along these lines, see concise summaries of deeply revealing news articles about corruption in and in the.
Illegal and unethical behaviour on Wall Street and in the City of London isn't just the work of a few bad apples - it's commonplace, according to new research.
More than one in five financial services employees in America and the UK have seen their co-workers breaking the law or engaging in misconduct, a survey of more than 1,200 workers has found.
Many feel under pressure to break the rules, believing it is a necessary part of getting ahead.
The University of Notre Dame and law firm Labaton Sucharow, which published the report, said it showed that bankers had failed to improve behaviour, despiteand new regulations.
Those questioned in the survey were also asked about whistleblowing practices, and 16pc said that corporate policies barred them from reporting illegal activity to authorities.
Note: For more along these lines, see concise summaries of deeply revealing from reliable major media sources.
HSBC is among at least 10 major banks being investigated by U.
The report said other banks being scrutinized include: Goldman Sachs; JPMorgan Chase; Britain-based Barclays; Swiss banking giants UBS and Credit Suisse; Bank of Nova Scotia; Germany-based Deutsche Bank; France-based Société Générale; and South Africa-based Standard Bank Group.
Goldman Sachs, HSBC, Deutsche Bank and Barclays, HSBC, UBS and Bank of Nova Scotia have been named as defendants in various putative class-action lawsuits in U.
The complaints contend that bank traders conspired to manipulate the price of metal derivatives in a bid to reap profits on proprietary trades.
Note: When it comes to international banking, it appears that almost.
For more along these lines, see concise summaries of deeply revealing news articles about the systemically.
Two years ago this month, Winston was being celebrated in the news as a hero.
He'd blown the treasure mile casino 100% bis zu €500 on Countrywide Financial, the bent mortgage lender that.
At first, that fight proved a good gamble, as a jury granted him a multi-million-dollar award for retaliation and wrongful termination.
But after Winston won that case, an appellate judge not only wiped out that jury verdict, but allowed Bank of America to counterattack him.
That single transaction means a good guy in the crisis drama, Winston, had by the end of 2014 paid a larger individual penalty than virtually every wrongdoer connected with the financial collapse of 2008.
When Winston protested his preposterous punishment on the grounds that a trillion-dollar company recouping legal fees from an unemployed whistleblower was unreasonable and unnecessary, a California Superior Court judge denied his argument — get this — on the grounds that Winston failed to prove a disparity in resources between himself and Bank of America!
Four years later, we're still waiting for the first criminal conviction against any individual for crisis-era corruption.
There's been no significant reform.
What we've seen instead is a series of cash deals with the most corrupt companies.
Note: Countrywide to more effectively defraud institutional investors and taxpayers.
Thanks to Winston, they were caught and.
But Bank of America purchased Countrywide, and has been paying off officials in to continue skirting the law without admitting wrongdoing.
And Michael Winston now has to pay Bank of America for their trouble.
The middle class can't be saved unless Wall Street is tamed.
Yet most presidential aspirants don't want to talk about taming the Street because Wall Street is one of their largest sources of campaign money.
A repeat performance is not unlikely.
Wall Street's biggest banks are much larger now than they were then.
Five of them hold about 45 percent of America's banking assets.
In 2000, they held 25 percent.
Meanwhile, the Street's lobbyists have gotten Congress to repeal a provision of Dodd-Frank curbing excessive speculation by the big banks.
The language was drafted by Citigroup and personally pushed by Jamie Dimon, CEO of JPMorgan Chase.
It's nice that presidential aspirants are talking about rebuilding America's middle class.
It also means not depending on the Street to finance their campaigns.
Note: For more along these lines, see concise summaries of deeply revealing news articles about and.
Iceland was one of the countries hardest hit by the financial crisis and was forced to nationalize its three largest lenders in 2008.
Sigurdsson was sentenced to five and a half years in prison, while Mr.
Einarsson was sentenced to five years in prison.
Larus Welding, the former chief executive of Glitnir, the first of the banks to be nationalized, was convicted of fraud in 2012.
The Icelandic lenders expanded beyond their borders during the boom years, only to collapse under a mountain of debt as financial conditions worsened in 2008.
A special prosecutor, Olafur Hauksson, was appointed to investigate the actions of bank executives in the run-up to the financial crisis.
Note: So the one nation that jailed its big bankers and let banks go bust is doing very well.
Why are so exceedingly few bankers in other countries being jailed for crimes involving trillions of dollars and bankrupting millions of citizens?
For more along these lines, see concise summaries of deeply revealing news articles about corruption in and in the.
In 2006, as a deal manager at the gigantic bank, Fleischmann first witnessed, then tried to stop, what she describes as "massive criminal securities fraud.
The root bargain in these deals was cash for secrecy.
The idea that Holder had cracked down on Chase was.
The settlement, says Kelleher, "was.
The DOJ and JP-Morgan were trying to avoid disclosure of their dirty deeds.
The settlement put you, me and every other American taxpayer on the hook.
The bank's share price soared six percent on news of the settlement.
Chase actually made money from the deal.
What's more, to defray the cost of this and other fines, Chase last year laid off 7,500 lower-level employees.
The people who stole all those billions are still in place.
And the bank is more untouchable than ever.
Mary Jo White and Andrew Ceresny, who represented Chase for some of this case, have since been named to the two top jobs at the SEC.
Note: Read this entire, fascinating article to understand just how corrupt both the banks and our government are.
For more along these lines, see these concise summaries of deeply revealing articles about widespread corruption in and.
For additional information, see the excellent, reliable resources provided in our.
The government said Citi committed egregious misconduct in the lead-up to the financial crisis.
Tony West is associate attorney general.
Lay out for us, what was this egregious conduct and how many people at Citigroup were engaged in it?
TONY WEST: Citibank packaged securities, packaged loans, mortgage loans into these securities, which they sold to investors.
And so you had these mortgage bond deals that had quality that was far less than what Citi was representing to investors that they were.
JUDY WOODRUFF: And how many people knew about this, and did the knowledge go all the way to the top?
They ignored that due diligence.
Note: For more on this, see concise summaries of deeply revealing from reliable major media sources.
In fall 2009, Secretary Timothy Geithner invited people working on TARP oversight to a meeting.
We thought that the program was poorly designed and poorly managed and provided little permanent help, and we worried that it would reach too few people to make any real difference.
There it was: The Treasury foreclosure program was intended to foam the runway to protect against a crash landing by the banks.
Note: Adapted from by Elizabeth Warren.
For more on the government's collusion with the big banks before, during and after the 2008 financial crisis brought about by fraudulent mortgage sales, see the deeply revealing reports from reliable major media sources.
A Canadian who works on Wall Street is emerging in some quarters as a hero for revealing the inner workings of high frequency traders who critics have accused of rigging the stock market and taking investors for billions.
Brad Katsuyama now runs IEX — the Investors Exchange — a new Wall Street trading platform he founded.
But it was in his former capacity as the head trader in New York for RBC Capital Markets that he caught the attention of popular financial writer Michael Lewis.
Katsuyama told Lewis that he had uncovered the methods high frequency traders use to get what he considers to be an unfair advantage over other investors.
Katsuyama noticed that when he would send a large stock order to the market, it would only be partially filled, and then he would have to pay a higher price for the rest of the order.
When he investigated, he found that his orders travelled along fibre-optic lines and hit the closest exchange first, where high frequency traders would use their speed advantage to buy the shares he wanted and then sell them to him at a slightly higher price — all in milliseconds.
Note: For more on financial corruption, see the deeply revealing reports from reliable major media sources.
In the last two weeks, the New York attorney general and the Commodities Futures Trading Commission in Washington have both launched investigations into high-frequency computerized stock trading that now controls more than half the market.
The probes were announced just ahead of a much anticipated book on the subject by best-selling author Michael Lewis called.
In it, Lewis argues that the stock market is now rigged to benefit a group of insiders that have made tens of billions of dollars exploiting computerized trading.
The story is told through an unlikely cast of characters who figured out what was going on and have devised a plan to correct it.
It could have a huge impact on Wall Street.
Tonight, Michael Lewis talks about it for the first time.
Steve Kroft: What's the headline here?
Michael Lewis: Stock market's rigged.
The United States stock market, the most iconic market in global capitalism is rigged.
Steve Kroft: By whom?
Michael Lewis: By a combination of these stock exchanges, the big Wall Street banks and high-frequency traders.
Steve Kroft: Who are the victims?
Michael Lewis: Everybody who has an investment in the stock market.
If it wasn't complicated, it wouldn't be allowed to happen.
The complexity disguises what is happening.
If it's so complicated you can't understand it, then you can't question it.
Steve Kroft: And this is all being done by computers?
Michael Lewis: All being done by computers.
It's too fast to be done by humans.
Humans have been completely removed from the marketplace.
The insiders are able to move faster than you.
Note: For an amazing story of greed and manipulation exposed on Wall Street, see the New York Times article on Flash Boys at.
It's 1999, the tail end of the Clinton years.
Most observers on the Hill thought the Financial Services Modernization Act of 1999 — also known as the Gramm-Leach-Bliley Act — was just the latest and boldest in a long line of deregulatory handouts to Wall Street that had begun in the Reagan years.
Wall Street had spent much read more that era arguing that America's banks needed to become bigger and badder, in order to compete globally with the German and Japanese-style financial giants.
Bank lobbyists were pushing a new law designed to wipe out 60-plus years of bedrock financial regulation.
The key was repealing — or "modifying," as bill proponents put it — the famed Glass-Steagall Act separating bankers and broker.
Now, commercial banks would be allowed to merge with investment banks and insurance companies, creating financial megafirms potentially far more powerful than had ever existed in America.
A tiny provision in the bill also permitted commercial banks to delve into any activity that is "complementary to a financial activity and does not pose a substantial risk to the safety or soundness of depository institutions or the financial system generally.
They likewise can now be found exerting direct control over the supply of a whole galaxy of raw materials crucial to world industry and to society in general, including everything from food products to metals like zinc, copper, tin, nickel and.
Note: For more on government collusion with the biggest banks, see the deeply revealing reports from reliable major media sources.
Pope Francis's crusade against corruption has made him a target for Italy's all-powerful mafia clans, a leading anti-mob prosecutor has warned.
He told the Italian daily Il Fatto Quotidiano: "Pope Francis is dismantling centres of economic power in the Vatican.
If the bosses could trip him up they wouldn't hesitate.
I don't know if organised criminals are in a position to do something, but they are certainly thinking about it.
They could be dangerous.
This week police impounded a luxury hotel on Rome's Janiculum hill — formerly a monastery — which the 'Ndrangheta allegedly purchased from a religious order.
A bishop in Locri in Calabria had excommunicated mobsters after they damaged fruit trees owned by the church, he said.
Note: For more on secret societies, see the deeply revealing reports from reliable major media sources.
Its equivalent in the world of derivatives, ISDAfix, has also come under question.
Commodities prices from crude oil to platinum have been the subject of allegations and inquiries.
Britain and the European Union also have probes under way.
Bankers, who are big participants in the market, have huge incentives to nudge the price of a given currency pairing ahead of the fix.
With billions of dollars changing hands, a difference of a fraction of a cent can add a tidy sum to the bonus pool.
If proven, the charge would amount to banks fleecing their clients.
Note: For more on financial corruption, see the deeply revealing reports from reliable major media sources.
Six former Bank of America Corp.
The bank allegedly used these tactics to shepherd homeowners into foreclosure, as well as in-house loan modifications.
Both yielded the bank more profits than the government-sponsored Home Affordable Modification Program, according to documents recently filed as part of a lawsuit in Massachusetts federal court.
At the same time, the bank punished those who did not make the numbers or objected to its tactics with discipline, including firing.
About twice a month, the bank cleaned out its HAMP backlog in an operation called "blitz," where it declined thousands of loan modification requests just because the documents were more than 60 months old, the court documents say.
The testimony from the former employees also alleges the bank falsified information it gave the government, saying it had given out HAMP loan modifications when it had not.
Borrowers filed the civil case against Bank of America in 2010 and are now seeking class certification.
Note: For deeply revealing reports from reliable major media sources on financial corruption.
The World Bank estimated in 2010 that 44 million people were pushed into poverty because of high food prices, and that speculation is one of the main causes.
Since Goldman led the drive to deregulate commodity markets in the 1990s.
Wallace Turbeville, a former vice president and the inventor of commodity index funds, has been outing the company's methods.
In 1996, speculators held 12% of the positions on the Chicago wheat market, with most of the market being made up of the legitimate users of food — from farmers to producers.
But the legitimate hedging element of commodity markets has virtually disappeared in the intervening years.
By 2011, pure speculators made up a staggering 61% of the market.
Of course, Goldman Sachs isn't the only player, but it is certainly the largest.
For several years, it was hotly debated whether speculation in food commodities drives up prices.
But the evidence now firmly says it does, and that there's little correlation between rising prices and actual supply and demand.
There are now well over.
Note: For deeply revealing reports from reliable major media sources on financial corruption.
What this program particularly demonstrated was that the Obama justice department, in particular the Chief of its Criminal Division, Lanny Breuer, never even tried to hold the high-level criminals accountable.
What Obama justice officials did instead is exactly what they did in the face of high-level Bush era crimes of torture and warrantless eavesdropping: namely, acted to protect the most powerful factions in the society in the face of overwhelming evidence of serious criminality.
Worst of all, Obama justice officials both shielded and feted these Wall Street oligarchs.
As Harvard law professor Larry Lessig put it two weeks ago when expressing anger over the DOJ's persecution of Aaron Swartz: "we live https://casinobonusgamesonline.com/5/348.html a world where the architects of the financial crisis regularly dine at the White House.
Note: To watch this highly revealing PBS documentary, or.
For deeply revealing reports from reliable major media sources on the collusion between government 'regulators' and the financial powers they 'regulate'.
It is a dark day for the rule of law.
Federal and state authorities have chosen not to indict HSBC, the London-based bank, on charges of vast and prolonged money laundering, for fear that criminal prosecution would topple the bank and, in the process, endanger the financial system.
They also have not charged any top HSBC banker in the case, though it boggles the mind that a bank could launder money as HSBC did without anyone in a position of authority making culpable decisions.
Clearly, the government has bought into the notion that too big to fail is too big to jail.
When prosecutors choose not to prosecute to the full extent of the law in a case as egregious as this, the law itself is diminished.
The deterrence that comes from the threat of criminal prosecution is weakened, if not lost.
But even large financial settlements are small compared with the size of international major banks.
More important, once criminal sanctions are considered off limits, penalties and forfeitures become just another cost of doing business, a risk factor to consider on the road to profits.
If banks operating at the center of the global economy cannot be held fully accountable, the solution is to reduce their size by breaking them up and restricting their activities — not shield them and their leaders from prosecution for illegal activities.
Note: For deeply revealing reports from reliable major media sources on government collusion with financial corruption.
A German man committed to a high-security psychiatric hospital after being accused of fabricating a story of money-laundering activities at a major bank is to have his case reviewed after evidence has emerged proving the validity of his claims.
Gustl Mollath, 56, was submitted to the secure unit of a psychiatric hospital seven years ago after court experts diagnosed him with paranoid personality disorder following his claims that staff at the Hypo Vereinsbank HVB — including his wife, then an assets consultant at HVB — had been illegally smuggling large sums of money into Switzerland.
Mollath was tried in 2006 after his ex-wife accused him of causing her physical harm.
He denied the charges, claiming she was trying to sully his name in the light of the evidence he allegedly had against her.
He was admitted to the clinic, where he has remained against his will ever since.
But recent evidence brought to the attention of state prosecutors shows that money-laundering activities were indeed practiced over several years by members of staff at the Munich-based bank, the sixth-largest private financial institute in Germany.
A number of employees, including Mollath's wife, were subsequently sacked following the bank's investigation.
The "Mollath affair", as it has been dubbed by the German media, has taken on such political dimensions that it now threatens to bring down the government of Bavaria.
Note: For deeply revealing reports from reliable major media sources on financial corruption.
Tax authorities have obtained details of every British client of HSBC in Jersey after a whistleblower secretly provided a detailed list of names, addresses and account balances earlier this week.
The bank is legally obliged to report to the authorities any suspicions about the source of money deposited in its accounts.
The list identifies 4,388 people holding Ł699 million in offshore current accounts and they are also likely to have billions of pounds more in investment schemes.
Several celebrities and other well-known figures are understood to be identified in the client data.
The HSBC Jersey client list is understood to be heavily dominated by senior figures in the City.
Doctors, mining and oil executives and oil workers are also heavily represented in the list.
Note: For deeply revealing reports from reliable major media sources on financial corruption and criminality.
Few countries blew up more spectacularly than Iceland in the 2008 financial crisis.
Since then, Iceland has turned in a pretty impressive performance.
It has repaid International Monetary Fund rescue loans ahead of schedule.
Growth this year will be about 2.
Unemployment has fallen by half.
Nothing distinguishes Iceland as much as its aid to consumers.
To homeowners with negative equity, the country offered write-offs that would wipe out debt above 110 percent of the property value.
The government also provided means-tested subsidies to reduce mortgage-interest expenses: Those with lower earnings, less home equity and children were granted the most generous support.
Because the Icelandic krona plunged 80 percent during the crisis, the cost of repaying foreign debt more than doubled.
The ruling let consumers repay the banks as if the loans were in krona.
Now, consumers have money to spend on other things.
Note: For deeply revealing reports from reliable major media sources on the collusion of most major governments with the financial sector whose profiteering contributed to the global economic crisis.
When the Justice Department recently closed its criminal investigation of Goldman Sachs, it became all but certain that no major American banks or their top executives would ever face criminal charges for their role in the financial crisis.
Justice officials and even President Obama have defended the lack of prosecutions, saying that even though greed and other moral lapses were evident in the run-up to the crisis, the conduct was not necessarily illegal.
But that characterization of the financial industry's actions has always defied common sense - and all the more so now that a fuller picture is emerging of the range of banks' reckless and lawless activities, including interest-rate rigging, money laundering, securities fraud and excessive speculation.
The financial crisis, fomented over years by big banks and presided over by executives, involved reckless lending, heedless securitizations, exorbitant paydays and illusory profits, all of which led to government bailouts and economic calamity.
Is it plausible that none of that broke the law and that none of the people in positions of power and authority knew what was going on?
The statute of limitations, generally five years for securities fraud and most other federal offenses, is running out, precluding the possibility of bringing many new suits dating from the bubble years.
The result is a public perception that the big banks and their leaders will never have to answer fully for the crisis.
The shameless pursuit of Wall Street campaign donations by both political parties strengthens this perception, and further undermines confidence in the rule of law.
Note: For deeply revealing reports from reliable major media sources on the collusion between government and the big banks.
When Thomas Jefferson spoke those words, banks were local and very small compared with the financial behemoths of today.
Banks are more dangerous now than in Jefferson's time, and they are totally out of control.
During the Depression of the 1930s, President Franklin Roosevelt referred to banks as the "money changers in the temple of our civilization," and little has been done since.
It is well past the time that people on Wall Street live by the rule of law - not just pay fines - and some executives go to jail for their conduct.
While the banks were bailed out of the trouble they caused, they continued to pay out enormous executive bonuses with taxpayers' money in multimillion-dollar year-end gifts.
The Fed even went to court in an attempt to hide the identities of those banks from the public.
Regulating the banks and bringing the rule of law to Wall Street banks is necessary now.
Sending a few Wall Street banksters to jail would stop some of the abuse as well.
Note: For deeply revealing reports from reliable major media sources on the corrupt relationship between government and the financial sector.
Talking about the mob?
These days, the business sections of newspapers read like rap sheets.
GE Capital, JPMorgan Chase, UBS, Wells Fargo and Bank of America tied to a bid-rigging scheme to bilk cities and towns out of interest earnings.
ING Direct, HSBC and Standard Chartered Bank facing charges of money laundering.
Barclays caught manipulating a key interest rate, costing savers and investors dearly, with a raft of other big banks also under investigation.
Not to speak of the unprecedented wrongdoing that precipitated the financial crisis of 2008.
Yet, it's clear that the unrepentant and the unreformed are still all too present within our banking system.
A June survey of 500 senior financial services executives in the United States and Britain turned up stunning results.
Some 24 percent said that they believed that financial services professionals may need to engage in illegal or unethical conduct to succeed, 26 percent said that they had observed or had firsthand knowledge of wrongdoing in the workplace, and 16 percent said they would engage in insider trading if they could get away with it.
That too much of Wall Street remains unchanged is not surprising.
Simply stated, the banks and their leaders have paid no real economic, legal or political price for their wrongdoing and thus have not felt compelled to change.
Note: The author of this article, Phil Angelides, is a former state treasurer of California and the chairman of the Financial Crisis Inquiry Commission.
For deeply revealing reports from reliable major media sources on the corrupt relationship between government and the financial sector.
Who's buying our democracy?
Wall Street financiers, the Koch brothers, and casino magnates Sheldon Adelson and Steve Wynn, among others.
And they're doing much of it in secret.
It's a perfect storm - the combination of three waves that are about to drown government as we know it.
The first is the greatest concentration of wealth in America in more than a century.
The 400 richest Americans are richer than the bottom 150 million Americans put together.
The trend started 30 years ago, and it's related to globalization and technological changes that have stymied wage growth for most people, "trickle-down economics,".
The second is the wave of unlimited political contributions, courtesy of.
The third is complete secrecy about who's contributing how much to whom.
Political fronts posing as charitable, nonprofit "social welfare" organizations.
As a result, outfits like the Chamber of Commerce and Karl Rove's Crossroads GPS are taking in hundreds of millions from corporations that don't even tell their own shareholders what political payments they're making.
Separately, any one of these three would be bad enough.
Put the three together, and our democracy is being sold down the drain.
Note: The author of this article, Robert Reich, is a professor of public policy at UC Berkeley and former U.
Weill, the man who invented the financial supermarket, called for the breakup of big banks in an interview on CNBC Wednesday.
He said banks should be split off entirely from investment banks, and they should operate with a leverage ratio of 12 times to 15 times of what they have on their balance sheets.
Banks should also be completely transparent, Weill said, with everything on balance sheet.
Note: For deeply revealing and reliable major media reports on corruption and criminality in the operations and regulation of the financial sector.
The global bank HSBC has been used by Mexican drug cartels looking to get cash back into the United States, by Saudi Arabian banks that needed access to dollars despite their terrorist ties and by Iranians who wanted to circumvent United States sanctions, a Senate report says.
The report on HSBC is the latest of several scandals that have recently rocked global banks and highlighted the inability of regulators to catch what is claimed to be widespread wrongdoing in the financial industry.
The British bank Barclays recently admitted that its traders tried to manipulate a crucial global interest rate, and multiple major banks are under investigation.
JPMorgan Chase disclosed last week that its employees may have tried to read more trades that are likely to cost the bank billions of dollars.
The Office of the Comptroller of the Currency has come under particularly harsh criticism for showing too much deference to the banks it regulates.
Note: For deeply revealing reports from reliable major media sources on regulatory and financial corruption and criminality.
For our highly revealing Banking Corruption Information Center.
Once more the big banks are exposed in systematic fraudulent activity.
Once more the question remains: Will CEOs and CFOs, as well as traders, be prosecuted?
Or will they depart with their multimillion dollar rewards intact, leaving shareholders to pay the tab for the hundreds of millions in fines?
The Barclays settlement exposed that traders colluded to try to fix the Libor rate.
This is the rate used as the basis for exotic derivatives as well as mortgages, credit card and personal loan rates.
Almost everyone is affected.
Fixing the rate even a few hundredths of a kumarhane 100% to €150 150fs point could make Barclays millions on any single day — money taken out of the pockets of consumers and investors.
Once more the banks were rigging the rules; once more their customers were their mark.
The collusion was systematic and routine.
Investigations are underway not only in the United Kingdom but also in the United States, Canada and the European Union.
Those named in the probes are all the usual suspects: JPMorgan Chase, Citibank, UBS, Deutsche Bank, HSBC, UBS and others.
The Libor scandal has confirmed what many of us have known for some time: There is something smelly in the London financial world and the stench is now overwhelming.
Brazen is the only word for it.
The emails and phone calls reveal that on dozens of occasions those who stood to gain by the decisions asked for favors and got them from those who helped set the interest rates.
And all the time the world believed Libor was somehow a barometer of what banks were lending to each other.
It was the rate at which a bank was prepared to corrupt the money markets for its own narrow, venal gain.
With one or two feeble exceptions, no one ever seemed to stop and say "this is against the rules.
The FSA report makes it clear that other traders were putting pressure on their rate setters too.
Libor and its cousin Euribor are the rates used to determine hundreds of trillions of dollars worth of highly specialized financial contracts called derivatives.
Businesses and household loans are set by this benchmark.
It is the backbone of the financial world and now it has been proven to be bent and crooked.
Note: For an incredibly incisive interview between Eliot Spitzer, Matt Taibbi, and a top banking expert on how the LIBOR scandal undermines the integrity of all banking.
For a treasure trove of reliable reports on the criminality and corruption within the financial and banking industries.
The Barclays Libor scandal may have shocked the British public, but Joseph Stiglitz saw it coming decades ago.
ニャースケのつよさ|目覚めし冒険者の広場 he's convinced that jailing bankers is the best way to curb market abuses.
That insight known as the theory of "asymmetric information" won Stiglitz the Nobel Prize for economics in 2001.
And he has leveraged those credentials relentlessly ever since to batter at the walls of "free market fundamentalism".
When traders working for Barclays rigged the Libor interest rate and flogged toxic financial derivatives — using their privileged position in the financial system to make profits at the expense of their customers — they were unwittingly proving Stiglitz right.
That was one of my original points.
It wasn't about productivity, it was taking advantage.
The first step, he says, is sending some bankers to jail.
Note: For key investigative reports on the criminality and corruption in the financial industry and biggest banks.
An anonymous insider from one of Britain's biggest lenders.

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20.12.2018 in 07:27 Neytron:

Skyfall is also incredibly large.

20.12.2018 in 23:59 HardCore:

Rapp did all these scams 20 years ago and then he writes a book and does it all over again.

16.12.2018 in 19:44 StrongEagle:

Performing since 1969, the Alabama trio of Randy Owen, Jeff Cook and Teddy Gentry literally owned the Country music scene during the 1980s which saw them have a string of 27 No.

13.12.2018 in 10:25 StrongEagle:

What Does a Leader Looks Like?

Total 4 comments.