Thursday, July 25, 2013

Too big to fail? I think not, rather to big to stop!

We heard banks were too big to fail and the dangers of not bailing them out. Now we see the dangers of having them bailed out! They are very active at creating financial and "business opportunities" and "creative" financial instruments and manipulating the market, the masses do not think how is this affecting them and pay no attention to this but if you want to get angry just read the following:

First the reason they failed:
https://en.wikipedia.org/wiki/Subprime_mortgage_crisis#Mortgage_fraud_and_predatory_lending
https://en.wikipedia.org/wiki/Subprime_mortgage_crisis#High-risk_mortgage_loans_and_lending.2Fborrowing_practices
https://en.wikipedia.org/wiki/Subprime_mortgage_crisis#Inaccurate_credit_ratings

Now their persistent corrupt criminal practices:

Fixing aluminum prices:
http://www.washingtonpost.com/opinions/harold-meyerson-big-banks-dangerous-commodity-monopolies/2013/07/23/c310683e-f3c6-11e2-9434-60440856fadf_story.html?tid=rssfeed

Laundering money:
http://www.guardian.co.uk/business/2012/dec/11/hsbc-bank-us-money-laundering

Fixing interest rates:
http://en.wikipedia.org/wiki/Libor_scandal

Increasing/fixing electricity costs (JPMorgan):
http://www.sfgate.com/business/article/FERC-probes-JPMorgan-over-electricity-charges-3682758.php
http://www.reuters.com/article/2013/05/03/us-utilities-ferc-jpmorgan-idUSBRE94210120130503

(and Barclays)
http://online.wsj.com/article/SB10001424052970204712904578090053851107918.html

So who will go to prison for illegal activity? how will people get compensated? How large will be the bonus this bankers will get..... probably to big to encourage their behavior! How to stop them!!!!!

http://www.pbs.org/wgbh/pages/frontline/untouchables/

The guy put in charge to stop them is afraid he would harm them, LOL such a naive looser or a corrupt official please harm them.... What a farce! freaking annoying, adding insult to injury

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