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Showing posts with the label Money laundering

The corrupt fraudsters within the banks must be prosecuted.

http://www.theguardian.com/business/2014/jul/28/bank-of-england-lloyds-bailout-funding Lloyds fined £217 million over Libor rigging Lloyds Bank The bankers should be subject to criminal law the same as everyone else. It was not "the bank" which corrupted the Libor rates and made huge profit from the speculation. It was specific individuals within the banks who conspired together and committed a crime. They went on to re introduce the obscenity of awarding themselves large bonuses and at the same time, carried on receiving payouts from the British tax payers. A benefit claimant would be hounded and persecuted for wrongly claiming a few pounds in benefits and yet "the bank" can receive £ millions and nobody says a word.   These corrupt fraudsters, must be prosecuted and jailed if trust in our banks is to be restored.

They do not have any sympathy from me.

http://www.huffingtonpost.co.uk/2013/05/19/stop-demonising-bankers_n_3302040.html?utm_hp_ref=uk  'Stop Demonising Bankers Over The Financial Crash'   Sir Mervyn said bankers should not be made scapegoats   If this article is supposed to generate my sympathy for a load of rich, over paid bonus grabbing parasites, many of whom should actually now be serving time in prison for money laundering, tax evasion, rate fixing and other crimes, I am afraid that it has failed miserably. Being "demonised" is a good word as is the phrase "being held in contempt".

Criminal activity pays.........................for some people.

http://www.huffingtonpost.co.uk/2013/04/23/hsbc-job-cuts_n_3137835.html?utm_hp_ref=uk  HSBC To Axe Over 2,000   HSBC the bank run by some shady management, who qualified for huge bonus payments into their personal accounts, being the same bank who admitted money laundering and other criminal activities. HSBC who were fined (or agreed to pay US authorities) $1.9bn (£1.2bn) in a settlement last year, and now faces new accusations of illegal activity in Argentina for using "fake receipts" to facilitate money laundering and tax evasion. HSBC this week, announces job cuts impacting on thousands of its staff, over the "changing nature" of the business as well as regulation. Another example of corporate crime providing financial reward for the top management and redundancies for people who work there.

The old saying is wrong. Crime does pay.

http://www.huffingtonpost.co.uk/2013/03/02/hsbc-chief-executive-stuart-gulliver-bonus_n_2797532.html?utm_hp_ref=uk    HSBC Chief Executive Stuart Gulliver To Receive '£2 Million Bonus' HSBC Chief Executive Stuart Gulliver   Almost every day, there is an announcement somewhere of banking CEO,s or other senior management, receiving huge bonus payouts. In most cases, the banks concerned have been involved in some questionable practices, or even criminal activity. In this instance, it is money laundering and mis-selling. In any other situation, the people responsible would have been charged and most likely imprisoned for such crimes. When it comes to the banks however, the people in charge take the bonus, and the corporation "takes the rap".