Massive global banker scandal revealed – breaking news in the Mainstream Media

[god_zeus]

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=244326

Massive global banker scandal revealed – breaking news in the Mainstream Media

It’s finally coming out in the public spotlight in a big way, the semi-covert operation that has been going on behind the scenes for a few years now: the take down of the criminal bankers.
Now we know exactly why those hundreds of bankers have been resigning in droves all over the world these last several months, they knew this was coming. I’ve read that resigning won’t protect the from prosecution for their crimes, however, the authorities know who they are and what they’ve done.

I like to point out how truly great this is because at the heart of all the greed, evil, war, poverty, and corruption in the world is finance. It’s through the control and manipulation of the monetary system that the oligarchs wield their sociopathic power.

They are like the mafia, only much much bigger because they occupy powerful positions world wide in finance, politics, and corporations. So this is really striking at the heart of the beast, and that’s why it’s such a great thing and will hopefully have very far reaching positive consequences for the entire planet. If that seems is bit exaggerated or overly dramatic hehe, then just wait until the true extent of the theft is revealed. Apparently, or so I’ve read, it’s of a magnitude that is a little beyond most people’s comprehension, the vast amounts of wealth that has been illegally extracted from nearly every nation on the planet for generations.
Imagine stealing a significant % of everyone’s income (almost everyone in the world) for the last 80 years or so. That’s essentially what it boils down to, and it’s just an unimaginable amount of money, and most of it taken from people struggling to get by or just survive.

And this is just the tip of the iceberg with regard to what’s been going on in this crazy world.
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20 more banks were rigging interest rates: British bankers now facing criminal inquiry over scandal that was kept secret for years

Barclays shares drop 15 per cent as pressure on Diamond grows

George Osborne promises new criminal sanctions for market abusers

RBS, HSBC and Lloyds all named as under investigation as scandal widens

 

[god_zeus]

Gary Foster, Ex-Citigroup Exec, Headed To The Slammer

NEW YORK — A former Citigroup vice president has been sentenced in New York City to eight years in prison for embezzling more than $22 million.

Gary Foster received the term Friday in federal court in Brooklyn.

The 35-year-old Foster pleaded guilty last year. Authorities had accused him of secretly transferring money from various Citibank accounts to his personal account at another bank.

Foster also was forced to forfeit property he purchased with his ill-gotten gains. It included real estate in New York and New Jersey, and several luxury cars.

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=244355

 

[god_zeus]

Big banks craft "living wills" in case they fail
(Reuters) - Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.

The plans, known as living wills, are due to regulators no later than July 1 under provisions of the Dodd-Frank financial reform law designed to end too-big-to-fail bailouts by the government. The living wills could be as long as 4,000 pages.

Since the law allows regulators to go so far as to order a bank to divest subsidiaries if it cannot plan an orderly resolution in bankruptcy, the deadline is pushing even healthy institutions to start a multi-year process to untangle their complex global operations, according to industry consultants.

"The resolution process is now going to be part of the cost-benefit analysis on where banks will do business," said Dan Ryan, leader of the financial services regulatory practice at PricewaterhouseCoopers in New York. "The complexity of the organizations will shrink."

JPMorgan Chase & Co (JPM.N), Bank of America Corp (BAC.N), Citigroup Inc (C.N), Goldman Sachs & Co (GS.N) and Morgan Stanley (MS.N) are among those submitting the first liquidation scenarios to regulators at the Federal Reserve and the Federal Deposit Insurance Corp, according to people familiar with the matter.

The five firms, which declined to discuss their plans for this story, have some of the biggest balance sheets, trading desks and derivatives portfolios of financial institutions in the United States.

Read more: http://www.reuters.com/article/2012/06/27/us-banks-bailouts-wills-idUSBRE85Q0AZ20120627