When I created this Pearltree my intention was to record that a lot of leading persons in the financial sector are willing to violate the law in order to make profit and also to find examples for the destructive impact of their behavior on the civil society and the life of the average citizen.
I dont know how comprehensive it should be. May be it is better to focus on some illustrative events in order to keep him well-aranged. Dec 29
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The new recommendations for Social Security and Medicare released by the Business Round Table are beyond belief. It's as if the people who wrote them never gaze outside of the tinted windows in their limousines. As I wrote earlier in " Stop Obama's Grand Charade ", the newest tactic to impose more austerity measures in the US comes from a group of over 80 CEOs who are starting with $60 million to spend on a campaign called " Fix the Debt ". They plan to convince people in the US that not only are cuts to vital programmes necessary, but that such cuts will strengthen them when exactly the opposite is true.
Last week, American public television's Frontline aired its new documentary, The Untouchables , which revisits the question of why the Department of Justice failed to indict a single senior Wall Street executive responsible for engineering the mortgage securitisation industry that was "rotten to the core", and at the heart of the 2008 financial meltdown from which ninety percent of Americans have yet to recover. In the film, reporter Martin Smith presses Lanny Breuer, the head of the criminal division within the Department of Justice, on why he did not pursue criminal charges of the senior officials in Wall Street, in spite of ample evidence of fraud that the episode's researchers - along with other journalists, documentarians and lawyers - had been able to find with just a bit of digging. Breuer responded: "I am personally offended by much of what I've seen. I think there was a level of greed, a level of excessive risk taking, that I find abominable and I find very upsetting.
By DAVID ENRICH BRUSSELS—The scandal over banks' attempted manipulation of interest rates has mostly centered on the London interbank offered rate. But Libor's lesser known cousin, the euro interbank offered rate, or Euribor, is facing mounting attacks. The European Union is expected soon to accuse multiple banks of attempted collusion in the setting of Euribor, according to people briefed on the probe. Barclays BARC.LN +2.23% PLC has already acknowledged trying to rig the rate, and other banks are likely to be pressed by regulators in the U.S., U.K. and elsewhere into similar admissions, according to industry and regulatory officials. The organization behind Euribor, the European Banking Federation, is waging a campaign to retain control of the rate, which serves as the basis for interest rates on trillions of dollars of financial products, everything from mortgages to corporate loans to derivatives.
Carney, a former Goldman Sachs investment banker who successfully helped to steer the Canadian economy through the global crisis, will succeed Mervyn King next year, Chancellor George Osborne told parliament. "He is quite simply the best, most experienced and most qualified person in the world to be the next Governor of the Bank of England," Osborne said. The announcement sounds unthreatening until you put it into perspective.
How Goldman Sachs gambled on starving the world’s poor – and won Johann Hari JohannHari.com July 02, 2010
Soziale Netzwerke dauerhaft einschalten Mailand Riskante Zinswetten gegen Städte und Kommunen kosten die Deutsche Bank und andere Investmentbanken nun auch in Italien Geld und Reputation. Ein Gericht in Mailand befand die Deutsche Bank, die Schweizer UBS, die US-Bank JP Morgan und die deutsch-irische Depfa am Mittwoch des schweren Betrugs für schuldig. Die Banken hatten Derivate an die Stadt Mailand verkauft, die sie mit der Aussicht auf niedrigere Zinsen köderten.
Kursinformationen und Charts Die Deutsche Bank wies den Bericht zurück: „Die Vorwürfe, die Deutsche Bank habe nicht korrekt berichtet, sind mehr als zweieinhalb Jahre alt. Über diese wurde bereits im Juni 2011 öffentlich berichtet. Die Vorwürfe waren Gegenstand einer sorgfältigen und umfangreichen Untersuchung und haben sich als vollkommen unbegründet erwiesen.
By Simon Johnson Two diametrically opposed views of Wall Street and the dangers posed by global megabanks came more clearly into focus last week. On the one hand, William B.
Plenty more where that came from! (This article is cross posted from my article for OECD Insights where they provide discussion of a wide range of subjects that influence world development) A basic capitalist tenet is that the market represents the most efficient way to allocate capital. How well is it working?
The Cayman Islands: a favourite haven from the taxman for the global elite.
Bob Diamond, who resigned as chief executive of Barclys on Tuesday, is fighting for a payoff of over £20m. Photograph: Dylan Martinez/REUTERS The greatest danger of the rate-fixing scandal now engulfing the City of London is that it will be managed and defused in the usual way, and nothing will really change.
Jerome Favre/Bloomberg News Stuart T. Gulliver, the chief of HSBC, said in a memo that the bank had “failed to spot and deal with unacceptable behavior.” 8:58 p.m. | Updated
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Global regulators have exposed flaws in banks’ internal controls that may have allowed traders to manipulate interest rates around the world, two people with knowledge of the probe said. Investigators also have received e-mail evidence of potential collusion between firms setting the London interbank offered rate, said the people, who declined to be identified because they weren’t authorized to speak publicly. Regulators are focusing on a lack of so-called Chinese walls between traders and employees making interest-rate submissions on behalf of their banks, the people said.
6 February 2013 Last updated at 06:51 ET