Big bank Crimes

[sanjuro_ronin]

http://maxkeiser.com/2012/07/19/ritholtz-a-concise-list-recent-bank-fraud/

Here are some recent improprieties by the big banks:

Laundering money for drug cartels. See this, this, this and this (indeed, drug dealers kept the banking system afloat during the depths of the 2008 financial crisis)

Laundering money for terrorists

Engaging in mafia-style big-rigging fraud against local governments. See this, this and this

Shaving money off of virtually every pension transaction they handled over the course of decades, stealing collectively billions of dollars from pensions worldwide. Details here, here, here, here, here, here, here, here, here, here, here and here

Charging “storage fees” to store gold bullion … without even buying or storing any gold . And raiding allocated gold accounts

Committing massive and pervasive fraud both when they initiated mortgage loans and when they foreclosed on them (and see this)

Pledging the same mortgage multiple times to different buyers. See this, this, this, this and this. This would be like selling your car, and collecting money from 10 different buyers for the same car

Cheating homeowners by gaming laws meant to protect people from unfair foreclosure

Committing massive fraud in an $800 trillion dollar market which effects everything from mortgages, student loans, small business loans and city financing

Engaging in insider trading of the most important financial information

Pushing investments which they knew were terrible, and then betting against the same investments to make money for themselves. See this, this, this, this and this

Engaging in unlawful “frontrunning” to manipulate markets. See this, this, this, this, this and this

Engaging in unlawful “Wash Trades” to manipulate asset prices. See this, this and this

Otherwise manipulating markets. And see this

Participating in various Ponzi schemes. See this, this and this

Charging veterans unlawful mortgage fees

Cooking their books (and see this)

Bribing and bullying ratings agencies to inflate ratings on their risky investments

The executives of the big banks invariably pretend that the hanky-panky was only committed by a couple of low-level rogue employees. But studies show that most of the fraud is committed by management.

Indeed, one of the world’s top fraud experts – professor of law and economics, and former senior S&L regulator Bill Black – says that most financial fraud is “control fraud”, where the people who own the banks are the ones who implement systemic fraud. See this, this and this.

[SimonM]

Links don't work.

[sanjuro_ronin]

Links don't work.

Go to the main link.

[MasterKiller]

Guess they'll be getting a visit from this guy

http://www-deadline-com.vimg.net/wp-content/uploads/2011/11/bane1__111125075219.jpg

[sanjuro_ronin]

One wonders when/if that one day this may be the case....

[SimonM]

Somebody will have to move on the banks eventually. If established powers aren't willing to....

well...

There have been revolutions for less.

[David Jamieson]

The point that everyone is missing is that if you want to diminish the power of the banks, you have to stop using them.

Things of this nature exist and are sustained only because we collectively give them buy in.
I personally have no issue with banks. I use them as intended for keeping and investing my money etc.

I believe another disconnect is actually regarding stock markets and those who are in that arena.

[sanjuro_ronin]

The point that everyone is missing is that if you want to diminish the power of the banks, you have to stop using them.

Things of this nature exist and are sustained only because we collectively give them buy in.
I personally have no issue with banks. I use them as intended for keeping and investing my money etc.

I believe another disconnect is actually regarding stock markets and those who are in that arena.

Very true.
Stock markets USED to trade in tangible goods and cash, now they trade in what doesn't exist and money that no one has is floated around as if it means something.

[mawali]

Let the truth be told that career politicians actually support and lobby for what these banks are doing or controlling, as long as they get their cut. The few good do not seem to last long enough toget things done so we are stuck unless We, the people, become more knowledgeable on what is going on and be the guardians of Term Limits. This is the only way.

[Syn7]

The point that everyone is missing is that if you want to diminish the power of the banks, you have to stop using them.

Things of this nature exist and are sustained only because we collectively give them buy in.
I personally have no issue with banks. I use them as intended for keeping and investing my money etc.

I believe another disconnect is actually regarding stock markets and those who are in that arena.

Our society is far too pus$y to just stop using banks and get away from their debt based gluttony. If the people do rise, it will start violent with a small group and the weaker ones will only join if shown they can win. The problem is that we are the problem. If the world was to balance out that would mean we would have to come down a few pegs so many more can move up beyond subsistance living. Our cultrure is just waaaay too greedy for to just give up what we have. Some actually believe it's their god given right to enjoy a quality of life that is only possible due to the fact there are so many more "have nots" suffering so we can "have more". We don't deserve it if we have to take it from others. And if we can't even work this out nationjally, what chance do we have of a political solution internationally??? No, there will not be gradual change for the better. We will continue as we are or we will rise and either win and who knows what or lose and most likely get locked down like we see in MOST other countries.

[Syn7]

Very true.
Stock markets USED to trade in tangible goods and cash, now they trade in what doesn't exist and money that no one has is floated around as if it means something.

Yeah, the first step would be to go back to a gold standard. Or any resource based economy would be better than this speculative theivery.

But any of you paying a mortagage are a huge part of the problem. Are you willing to lower the quality of your life and most like the next 3 or 4 generations in order to do what is right for the long haul? Most say yes, but really wouldn't give up much if they actually had to. It's all good to be a saint in theory, doing it is something else all together. Anyone who does not actively resist assimilation is a part of the problem. We are just so indoctrinated, it will be hard. Some people will have to have the choice made for them and that will cause a ton of other new issues. But if it takes bullets to make people act righteous, whos to say thats not righteous in itself. I'm very torn with that one. Sometimes a sound like some sort of socio-political jihadist, but it's far nmore complicated than that and it breaks my heart to think that people will have to suffer hard to dig out of this hole we have dug ourselves into.

[SimonM]

Yeah, the first step would be to go back to a gold standard.

I have never understood why people believe shiny yellow rocks to be less speculative in nature than math.

A rational economy is derived from energy costs; not glittery pebbles.

[Syn7]

Let the truth be told that career politicians actually support and lobby for what these banks are doing or controlling, as long as they get their cut. The few good do not seem to last long enough toget things done so we are stuck unless We, the people, become more knowledgeable on what is going on and be the guardians of Term Limits. This is the only way.

It's even worse than that. Many politicians don't even do it for kickbacks, they do it just to stay a politician. Many politicians get no illegal funds yet still act the way the lobby tells them to. The new campaign rules aren't helping either. SuperPacs need to go man, you guys are getting raped over it.