RSS Feed
Twitter
Facebook
Email
HomeJPM – Madoff Laundromat “Cleans” Empty Suits
Posted by Larry Doyle on January 15th, 2013 9:20 AM |
If a cop were to a issue a challenge (perhaps even a threat), and an organization calls the cop’s bluff and beats him like a drum in the process, what does that say about the cop, the organization, and the activity in question? To what do I allude?
Well, let’s say for example, a criminal uses a laundromat for the purpose of facilitating his “business” but the laundromat is not held to proper account. Did the “business activity” ever really occur there? Did the cops ever fully and properly investigate and enforce their duty to uphold the law?
Not that Americans are not already fully aware of the charades being played out in the world of financial regulation and oversight but the latest iteration really takes the cake. To what do I refer? (more…)
Libor Scandal: “Biggest Financial Fraud of All Time”
Posted by Larry Doyle on December 13th, 2012 2:00 PM |
With news leaking that Union Bank of Switzerland is poised to pay a $1 billion fine for its involvement in the manipulation of Libor, we once again are led to the conclusion that, for those involved in running the major global financial institutions, “CRIME PAYS.”
It is insulting to those who have even an ounce of decency in their body to think that institutions such as Barclays, UBS, and certainly many more can engage in the “biggest financial fraud of all time” and simply write a check for their complicity.
The “biggest financial fraud of all time,” LD? Yes, I have defined this price rigging racket in just such a fashion many times. Those are not merely my words today. Who else joins me and echoes those sentiments? (more…)
Standard Chartered Scandal: Crime Pays
Posted by Larry Doyle on August 8th, 2012 9:07 AM |
If in fact — and as reported — the UK-based Standard Chartered Bank is fined a token $700 million for the violation of American sanctions in dealing with Iran, then we are left with only one conclusion: CRIME PAYS. (A second conclusion would be that our regulators and government officials are in the pockets of the banks BUT we already knew that.)
There are allegedly $250 billion worth of transactions in question in this Standard Chartered scandal. A slap on the wrist of $700 million would equate to less than .3 of 1% (.003) for dealing with the crowd that would like to see Israel obliterated. (more…)
Mortgage Settlement Defines Racketeering
Posted by Larry Doyle on March 13th, 2012 5:51 AM |
If the Wall Street mortgage settlement is supposed to define justice, then crime certainly does pay.
Having asked repeatedly in 2011 whether Wall Street mortgage servicing practices qualified as a racket and thus the charges filed should have been addressed as a RICO violation, yesterday we received our answer.
By any measure of ‘sense on cents’, the evidence provided screams of a RICO violation. The verdict delivered? (more…)
