Goldman-Sachs Caught Manipulating US Dollar. The same company that paid Hillary Clinton nearly $700,000, for three one-hour speeches, has now been ordered to pay a nine-figure sum for currency market manipulation.
Goldman-Sachs was ordered to pay 120 million, “to settle charges that it often tried to manipulate a global dollar benchmark for interest rate products over a five-year period,” according to Reuters. The investment corporation was levied the “civil penalty to settle charges that it often tried to manipulate a global dollar benchmark for interest rate products over a five-year period,” the report states. Citing the Commodity Futures Trading Commission’s report, Reuters stated Goldman-Sachs engaged in its illegal activity in an attempt to “manipulate the U.S.
Dollar International Swaps and Derivatives Association Fix benchmark,” and was ordered to cease from doing so in the future by taking measures to prevent a recurrence. Goldman-Sachs is just the latest in a series of intentional missteps by investment firms. Switzerland Follows Iceland in Declaring War Against the Banksters.
By Isaac Davis “If you want to continue to be slaves of the banks and pay the cost of your own slavery, then let bankers continue to create money and control credit.” – Josiah Stamp Iceland has gained the admiration of populists in recent years by doing that which no other nation in the world seems to be willing or capable of doing: prosecuting criminal bankers for engineering financial collapse for profit.
Their effective revolt against the banking class, who drove the tiny nation into economic crisis in 2008, is the brightest example yet that the world does not have to be indebted in perpetuity to an austere and criminal wealthy elite. In 2015, 26 Icelandic bankers were sentenced to prison and the government ordered a bank sale to benefit the citizenry.
Switzerland is in a key position to play a revolutionary role in changing how global banking functions. Reserve banking is the policy that guarantees insurmountable debt as the outcome of all financial transactions. Image Credit. Roisin Davis: Truthdigger of the Week: Offshore-Banking Whistleblower Hervé Falciani - Truthdigger of the Week. Hervé Falciani is pictured during an interview in Spain in June 2012.
(eldiario.es/licencia / Wikimedia Commons)(CC-BY-SA 3.0) Every week the Truthdig editorial staff selects a Truthdigger of the Week, a group or person worthy of recognition for speaking truth to power, breaking the story or blowing the whistle. It is not a lifetime achievement award. Rather, we’re looking for newsmakers whose actions in a given week are worth celebrating. Robert Reich: Hillary Clinton’s Glass-Steagall. Editor’s note: This article was originally published on RobertReich.org.
Hillary Clinton won’t propose reinstating a bank break-up law known as the Glass-Steagall Act – at least according to Alan Blinder, an economist who has been advising Clinton’s campaign. “You’re not going to see Glass-Steagall,” Blinder said after her economic speech Monday in which she failed to mention it. Greece — The One Biggest Lie You Are Being Told By The Media. First published in July 2015 By Truth and Satire Every single mainstream media has the following narrative for the economic crisis in Greece: the government spent too much money and went broke; the generous banks gave them money, but Greece still can’t pay the bills because it mismanaged the money that was given.
It sounds quite reasonable, right? Except that it is a big fat lie … not only about Greece, but about other European countries such as Spain, Portugal, Italy and Ireland who are all experiencing various degrees of austerity. It was also the same big, fat lie that was used by banks and corporations to exploit many Latin American, Asian and African countries for many decades. Greece did not fail on its own. In summary, the banks wrecked the Greek government, and then deliberately pushed it into unsustainable debt … while revenue-generating public assets were sold off to oligarchs and international corporations. Obama’s Attorney General Nominee Caught in Huge Scandal that Could Send Her to Jail. Loretta Lynch is in some relatively hot water.
Looks like she has been implicated in allowing one of the world’s largest banks to evade criminal charges after it was found to be guilty of laundering money for all kinds of illicit activity. World Net Daily originally broke the story back in 2012 before Lynch was looking to assume Holder’s role. An employee from HSBC bank brought in over 1,000 pages of documentation that showed HSBC was involved in a billion dollar global money-laundering scheme.
The story came and went, and nary a thought given to it. US government faces pressure after biggest leak in banking history. The US government will come under intense pressure this week to explain what action it took after receiving a massive cache of leaked data that revealed how the Swiss banking arm of HSBC, the world’s second-largest bank, helped wealthy customers conceal billions of dollars of assets.
The leaked files, which reveal how HSBC advised some clients on how to circumvent domestic tax authorities, were obtained through an international collaboration of news outlets, including the Guardian, the French daily Le Monde, CBS 60 Minutes and the Washington-based International Consortium of Investigative Journalists. The files reveal how HSBC’s Swiss private bank colluded with some clients to conceal undeclared “black” accounts from domestic tax authorities across the world and provided services to international criminals and other high-risk individuals. HSBC files show how Swiss bank helped clients dodge taxes and hide millions.
HSBC’s Swiss banking arm helped wealthy customers dodge taxes and conceal millions of dollars of assets, doling out bundles of untraceable cash and advising clients on how to circumvent domestic tax authorities, according to a huge cache of leaked secret bank account files.
The files – obtained through an international collaboration of news outlets, including the Guardian, the French daily Le Monde, BBC Panorama and the Washington-based International Consortium of Investigative Journalists – reveal that HSBC’s Swiss private bank: • Routinely allowed clients to withdraw bricks of cash, often in foreign currencies of little use in Switzerland. • Aggressively marketed schemes likely to enable wealthy clients to avoid European taxes. • Colluded with some clients to conceal undeclared “black” accounts from their domestic tax authorities. • Provided accounts to international criminals, corrupt businessmen and other high-risk individuals.
Robbing Argentina in the US court in Manhattan - fraud of medieval style and proportions. No summons, invalid Notice of Assignment for US Judge Thomas Griesa, and denial of public access to the authentication records in a court that is notorious for fraud in banking matters...
Conduct of the US courts over the past decade should be deemed an unannounced regime change in the United States. It is also central to abuse of the people of the United States and failing banking regulation. Big Banks Fined Mega-Billions; CEOs Remain Untouched, Above the Law. Above the law by geoffreygnathanlaw.com Get arrested for robbing a bank or shoplifting and you will go to prison.
Get caught selling cocaine or steal a car and you will do jail time. But if you are a CEO of one of the biggest banks in America and that bank is fined mega-billions for fraudulent practices you need not worry because the U.S. Justice Department will give you a free pass; you are, in effect, above the law. That is beyond comprehension, a clear travesty of justice, but it has become commonplace in America. . $25 billion - Wells Fargo, J.P. . $13 billion - J.P. . $9.3 billion - Bank of America, Wells Fargo, J.P. . $8.5 billion - Bank of America -- June 2011: $2.6 billion - Credit Suisse AG -- May 2014: 1.9 billion - HSBC Holdings, HSBA - 2012 $1.5 billion -- UBS, AGUBSN - 2012 $1.4 billion - 10 Wall Street firms including Goldman Sachs, Morgan Stanley, and J.P.
Dust off the pitchforks - Home Foreclosure racket continues. The Global Banking Game Is Rigged, and the FDIC Is Suing. Rigging the game. by Pinerest Taxpayers are paying billions of dollars for a swindle pulled off by the world's biggest banks, using a form of derivative called interest-rate swaps; and the Federal Deposit Insurance Corporation has now joined a chorus of litigants suing over it. According to an SEIU report: Derivatives . . . have turned into a windfall for banks and a nightmare for taxpayers. . . .
While banks are still collecting fixed rates of 3 to 6 percent, they are now regularly paying public entities as little as a tenth of one percent on the outstanding bonds, with rates expected to remain low in the future. Over the life of the deals, banks are now projected to collect billions more than they pay state and local governments -- an outcome which amounts to a second bailout for banks, this one paid directly out of state and local budgets. It is not just that local governments, universities and pension funds made a bad bet on these swaps. The New York Times Authors the Most Ironic Sentence of the Crisis. By William K. Black The author of the most brilliantly comedic statement ever written about the crisis is Landon Thomas, Jr.
Investigative Reporter. By Greg Palast for Vice Magazine. Investigative Reporter. The Incredible Con the Banksters Pulled on the FBI. Banksters Love Holder; The FBI's 2010 Mortgage Fraud Report Reveals Why.