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Big Banks Don’t Commit Any Crimes … Do They?

Here are some recent improprieties by the big banks:

  • Engaging in mafia-style big-rigging fraud against local governments. See this, this and this
  • Shaving money off of virtually every pension transaction they handled over the course of decades, stealing collectively billions of dollars from pensions worldwide. Details here, here, here, here, here, here, here, here, here, here, here and here
  • Pledging the same mortgage multiple times to different buyers.  See this, this, this, this and this.  This would be like selling your car, and collecting money from 10 different buyers for the same car
  • Committing massive fraud in an $800 trillion dollar market which effects everything from mortgages, student loans, small business loans and city financing
  • Pushing investments which they knew were terrible, and then betting against the same investments to make money for themselves. See this, this, this, this and this
  • Engaging in unlawful “Wash Trades” to manipulate asset prices. See this, this and this
  • Participating in various Ponzi schemes. See this, this and this
  • Bribing and bullying ratings agencies to inflate ratings on their risky investments

The executives of the big banks invariably pretend that the hanky-panky was only committed by a couple of low-level rogue employees.  But studies show that most of the fraud is committed by management.

Indeed, one of the world’s top fraud experts – professor of law and economics, and former senior S&L regulator Bill Black – says that most financial fraud is “control fraud”, where the people who own the banks are the ones who implement systemic fraud.  See this, this and this.

But at least the big banks do good things for society, like loaning money to Main Street, right?

Actually:

  • The big banks have slashed lending since they were bailed out by taxpayers … while smaller banks have increased lending. See this, this and this

About cushyglen

One man's journey from highwayman to economic activist! As an 18th Century Irish Highwayman Cushy Glen knew alot about thieving and greed. He has returned to the 21st century on a karmic journey to right the wrongs of his 18th century life. His mission in the 21st century is to shine a light on modern highwaymen - the private banking cartel who create and control nearly all our money. His aim is to see the return of money creation to the people. Cushy wants the creation of money to be publicly owned. END THE PRIVATE CONTROL OF MONEY!

Discussion

One thought on “Big Banks Don’t Commit Any Crimes … Do They?

  1. Spot on with this write-up, I really think this website wants far more consideration. I’ll probably be again to learn way more, thanks for that info.

    Like

    Posted by Shane K Richardson | July 31, 2012, 1:36 pm

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Why private banks?

Who are the ciminals

Cushy Glen


As an 18th Century Irish Highwayman Cushy Glen knew alot about thieving and greed. He has returned to the 21st century on a karmic journey to right the wrongs of his 18th century life. His mission in the 21st century is to shine a light on modern highwaymen - the private banking cartel. His aim is to see the return of the money that has been stolen by the bankers back to the people. Cushy wants banks run and owned by the people and for the people. END PRIVATE BANKING!

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