CRIMES OF BIG USA BANKS

CRIMES OF BIG BANKS: YOU WON’T BELIEVE WHAT THEY’VE DONE: “FUNDING THE NAZIS, LAUNDERING MONEY FOR TERRORISTS, …”

WashingtonsBlog / The 4th Media News | Friday, March 15, 2013

http://www.washingtonsblog.com/2013/03/stunning-crimes-of-the-big-banks-updated-list.html

http://www.4thmedia.org/2013/03/15/jaw-dropping-crimes-of-big-banks-you-wont-believe-what-theyve-done-funding-the-nazis-laundering-money-for-terrorists/

Preface: Not all banks are criminal enterprises. The wrongdoing of a particular bank cannot be attributed to other banks without proof. But – as documented below – many of the biggest banks have engaged in unimaginably bad behavior.

YOU WON’T BELIEVE WHAT THEY’VE DONE …

 Here are just some of the improprieties by big banks:

Funding the Nazis  http://www.washingtonsblog.com/2012/07/big-banks-funded-the-nazis-and-launched-a-coup-against-the-president-of-the-united-states.html

Laundering money for terrorists  http://www.latimes.com/business/money/la-fi-mo-hsbc-senate-20120717,0,3041182.story,  ALSO:

Warren Buffett roots for JPMorgan, Wells Fargo

House panel to probe LIBOR scandal; CalPERS might seek damages

Bernanke says economy losing momentum, gives no hint of more stimulus

Financing illegal arms deals, http://www.time.com/time/magazine/article/0,9171,157496,00.html

and funding the manufacture of cluster bombs,,  

http://www.google.com/hostednews/afp/article/ALeqM5jPjddCbIuYT3oJ9x5T0ArxrSIbFw?docId=CNG.93ae310642910016fd01326c08ce5822.51

and see this http://www.independent.co.uk/news/uk/home-news/uk-banks-fund-deadly-clusterbomb-industry-2338168.html

and this http://rt.com/news/libya-spain-gaddafi-cluster-bomb/) and other arms which are banned in most of the world

 

Launching a coup  against the President of the United States  http://www.washingtonsblog.com/2012/07/big-banks-funded-the-nazis-and-launched-a-coup-against-the-president-of-the-united-states.html

Handling money for rogue military operations  http://www.time.com/time/magazine/article/0,9171,157496,00.html 

Laundering money for drug cartels. See this, http://www.washingtonsblog.com/Laundering%20money%20for%20terrorists

this, http://www.latimes.com/business/money/la-fi-mo-hsbc-senate-20120717,0,3041182.story

this, http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs

this http://www.reuters.com/article/2012/05/03/us-hsbcusa-probes-idUSBRE8420FX20120503

and this http://articles.latimes.com/2011/nov/27/world/la-fg-mexico-money-laundering-banks-20111128

(indeed, drug dealers kept the banking system afloat  http://www.guardian.co.uk/global/2009/dec/13/drug-money-banks-saved-un-cfief-claims during the depths of the 2008 financial crisis)

 

Engaging in mafia-style big-rigging fraud against local governments. See this, http://www.rollingstone.com/politics/news/the-scam-wall-street-learned-from-the-mafia-20120620

this http://www.rollingstone.com/politics/blogs/taibblog/notes-on-wall-streets-bid-rigging-scandal-20120622

and  this http://www.bloomberg.com/news/2011-11-14/governments-using-swaps-emulate-subprime-victims-of-wall-street.html

 

 
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, http://www.huffingtonpost.com/2011/12/28/bny-mellon-case_n_1172575.html

here, http://www.nydailynews.com/news/money/bank-new-york-mellon-scored-3b-bailout-oversees-entire-program-article-1.390935

here, http://www.nytimes.com/2011/10/05/business/new-york-state-says-bank-of-new-york-mellon-cheated-pension-funds.html?_r=0

here, http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/6_Madoff_Whistleblower_Tells_KWN_Banks_Stealing_From_Pensions.html

here, http://articles.businessinsider.com/2011-10-07/wall_street/30253397_1_trial-dates-bny-mellon-bank

here, http://online.wsj.com/article/SB10001424052748703652104576122220220538048.html

here, http://blogs.reuters.com/financial-regulatory-forum/2011/02/04/analysis-madoff-whistleblower-tries-new-shield-tactic-in-bank-fraud-suits/

here, http://www.cjr.org/the_audit/wsj_on_harry_markopolos_whistl.php

here, http://online.wsj.com/article/SB10001424052748703960804576120544029594566.html?mod=ITP_pageone_0#articleTabs%3Darticle

here, http://www.bloomberg.com/news/2011-05-12/sec-probes-state-street-foreign-exchange-pricing.html

here http://www.nytimes.com/2009/10/21/business/21street.html

and here Manipulating gold prices … http://www.washingtonsblog.com/2012/07/gordon-brown-sold-britains-gold-too-cheap-to-bail-out-a-large-american-bank.html

on a daily basis http://www.washingtonsblog.com/2013/03/gold-and-silver-prices-are-set-with-libor-like-daily-conference-call-with-a-handful-of-big-banks.html

Charging “storage fees” to store gold bullion … without even buying or storing any gold . http://uk.reuters.com/article/2007/06/12/morganstanley-suit-idUKN1228014520070612

And raiding allocated gold accounts  http://www.washingtonsblog.com/2012/07/beware-allocated-gold-may-not-really-be-there.html

Committing massive and pervasive fraud both when they initiated mortgage loans and when they foreclosed on them http://www.washingtonsblog.com/2010/10/at-the-root-of-the-crisis-we-find-the-largest-financial-swindle-in-world-history-where-counterfeit-mortgages-were-laundered-by-the-banks.html

(and see this) http://www.washingtonsblog.com/2011/12/the-fbi-estimates-that-80-percent-of-all-mortgage-fraud-involves-collaboration-or-collusion-by-industry-insiders.html

Pledging the same mortgage multiple times to different buyers. See this, http://www.washingtonsblog.com/2010/10/professors-black-and-wray-confirm-that-bear-pledged-the-same-mortgage-to-multiple-buyers.html

this, http://www.washingtonsblog.com/2010/10/mortgages-were-fraudulently-pledged-to-multiple-buyers-at-the-same-time.html

this, http://www.washingtonsblog.com/2010/10/was-abacus-the-business-model-for-the-entire-mortgage-industry.html

this  http://www.washingtonsblog.com/2010/10/the-fraud-perpetrated-upon-investors-and-insurers-due-to-multiple-pledges-of-collateral-could-be-massive.html

and this. http://www.washingtonsblog.com/2010/10/how-did-the-banks-get-away-with-pledging-mortgages-to-multiple-buyers.html

This would be like selling your car, and collecting money from 10 different buyers for the same car

Cheating homeowners by gaming laws meant to protect people from unfair foreclosure

 Committing massive fraud in an $800 trillion dollar market which effects everything from mortgages, student loans, small business loans and city financing http://www.washingtonsblog.com/2012/07/the-biggest-banking-scam-in-world-history.html

   

Manipulating the hundred trillion dollar derivatives market  http://www.washingtonsblog.com/2012/08/a-cartel-of-big-banks-is-harming-the-world-economy-by-manipulating-derivatives.html 

 

Engaging in insider trading of  the most important financial Information  http://www.washingtonsblog.com/2012/07/libor-the-largest-insider-trading-scandal-ever.html

Pushing investments which they knew were terrible, and then betting against the same investments to make money for themselves. See this, http://www.washingtonsblog.com/2011/07/goldman-bet-against-entire-european-nations-who-were-clients-the-same-way-it-bet-against-its-subprime-mortgage-clients.html

this, http://www.zerohedge.com/article/jp-morgan-sold-investors-mbs-covered-sack-shit-loans-goldman-aig-redux

this, http://www.teribuhl.com/2012/05/12/sec-tells-jp-morgan-enforcement-action-coming-over-bears-mortgage-backed-securities-violations/

this http://www.sec.gov/news/press/2010/2010-123.htm

and this http://www.washingtonsblog.com/2011/08/bank-of-america-down-20-today-after-being-sued-by-aig-for-massive-fraud-goldman-jp-morgan-and-deutsche-are-next.html

Engaging in unlawful “frontrunning”  (http://en.wikipedia.org/wiki/Front_running) to manipulate markets. See this, http://www.dailyfinance.com/2009/09/17/exclusive-nobel-winner-joseph-stiglitz-predicts-recessions-end/

this, http://www.zerohedge.com/article/whoa-glitch-hft

this, http://www.washingtonsblog.com/2009/07/corporate-media-spotlights-distortion-of-market-by-high-frequency-trading.html

this, http://www.zerohedge.com/taxonomy_vtn/term/8356

this http://www.washingtonsblog.com/2009/07/what-is-high-frequency-trading-and-how-does-it-distort-the-markets.html

and this http://www.globalresearch.ca/computerized-front-running-and-financial-fraud/18809

Engaging in unlawful “Wash Trades” to manipulate asset prices. See this, http://news.yahoo.com/jpmorgan-fined-wash-trades-oil-gasoline-151048338--sector.html

this http://www.bloomberg.com/news/2012-04-02/rbc-sued-by-u-s-regulators-over-wash-trades-seeking-tax-benefit.html

and this http://www.bloomberg.com/news/2012-06-22/wash-trading-by-high-frequency-firms-said-to-face-u-s-scrutiny.html

Otherwise http://dealbook.nytimes.com/2012/07/03/jpmorgan-role-in-power-market-comes-under-scrutiny/

 

manipulating markets. And see this http://www.washingtonsblog.com/2010/05/will-silver-and-gold-prices-rise-now-that-the-feds-are-launching-criminal-and-civil-investigations-into-manipulation-of-the-silver-market.html

Participating in various Ponzi schemes. See this, http://online.wsj.com/article/BT-CO-20120417-716851.html

this http://dealbook.nytimes.com/2011/02/15/in-prison-madoff-says-banks-had-to-know-of-fraud/

and this http://www.miamiherald.com/2012/02/28/2665114/55-victims-of-ponzi-schemer-rothstein.html

Charging veterans unlawful mortgage fees http://www.sfgate.com/business/article/Banks-allegedly-charged-vets-illegal-mortgage-fees-2328659.php 


Helping the richest to illegally hide assets  http://www.washingtonsblog.com/2012/07/why-you-pay-too-much-in-taxes-because-everyone-from-the-ultra-rich-to-illegal-immigrants-pay-nothing.html

Cooking their books   http://online.wsj.com/article/SB10001424052702304830104575172280848939898.html?mod=WSJ_Markets_MIDDLETopNews

and see this http://www.washingtonsblog.com/2010/03/lehman-fraudulently-cooked-its-books-accounting-giant-ernst-young-helped-geithner-and-bernanke-winked-and-slapped-them-on-the-back.html

Bribing http://www.washingtonsblog.com/2009/09/credit-rating-agencies-took-bribes-for-higher-ratings.html

and bullying ratings agencies to inflate ratings on their risky investments http://www.zerohedge.com/news/unsealed-documents-expose-morgan-stanley-forcing-rating-agencies-inflate-ratings

Violently cracking down on peaceful protesters  http://www.washingtonsblog.com/2012/12/government-and-big-banks-joined-forces-to-violently-crush-peaceful-protests.html

 

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. http://www.guardian.co.uk/business/2012/jul/09/fraud-bosses-206m

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, http://www.washingtonsblog.com/2010/10/why-did-banks-give-home-loans-to-people-who-they-knew-couldnt-pay.html

this  http://www.washingtonsblog.com/2011/12/the-fbi-estimates-that-80-percent-of-all-mortgage-fraud-involves-collaboration-or-collusion-by-industry-insiders.html and 

this. http://www.amazon.com/The-Best-Way-Rob-Bank/dp/0292706383

Even the bank with the reputation as being the “best managed bank” in the U.S., JP Morgan, has engaged in massive fraud. For example, the Senate’s Permanent Subcommittee on Investigations released a report today quoting an examiner at the Office of Comptroller of the Currency – JPMorgan’s regulator – saying he felt the bank had “lied to” and “deceived” http://www.zerohedge.com/news/2013-03-14/too-big-regulate-jp-morgan-lied-and-deceived-regulators-investors-and-public-senate-  the agency over the question of whether the bank had mismarked its books to hide the extent of losses. And Joshua Rosner – noted bond analyst, and Managing Director at independent research consultancy Graham Fisher & Co – notes that JP Morgan had many similar anti money laundering laws violations as HSBC, failed to segregate accounts a la MF Global, and paid almost 12% of its 2009-12 net income on regulatory and legal settlements. http://www.ritholtz.com/blog/2013/03/josh-rosners-jpm-analysis/

 

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

Actually:

The big banks no longer do very much traditional banking. Most of their business is from financial speculation. For example, less than 10% of Bank of America’s assets come from traditional banking deposits. http://www.washingtonsblog.com/2010/01/less-than-a-tenth-of-bank-of-americas-assets-comes-from-traditional-banking-deposits.html Instead, they are mainly engaged in financial speculation and derivatives. (and see this http://www.washingtonsblog.com/2011/10/do-we-need-banks-or-can-we-cut-out-the-middleman.html

 

The big banks have slashed lending since they were bailed out by taxpayers … while smaller banks have increased lending. See this, http://www.bloomberg.com/news/2012-06-26/biggest-u-s-banks-curb-loans-as-regional-firms-fill-gap.html

this http://www.washingtonsblog.com/2010/04/mega-banks-which-received-bailouts-slashed-lending-more-gave-higher-bonuses-and-reduced-costs-less-than-banks-which-didnt-get-bailed-out.html

and this http://www.washingtonsblog.com/2011/01/%E2%80%9Cthe-vast-majority-of-this-contraction-of-credit-availability-to-american-industry-has-been-by-the-larger-banks%E2%80%9D.html

A huge portion http://www.washingtonsblog.com/2012/03/big-banks-continue-to-suck-at-the-government-teat-with-never-ending-stealth-bailouts.html of the banks’ profits comes from taxpayer bailouts. For example, 77% of JP Morgan’s net income comes from taxpayer subsidies http://www.washingtonsblog.com/2012/07/77-of-jp-morgans-net-income-comes-from-government-subsidies.html

The big banks are looting, http://www.washingtonsblog.com/2010/11/its-not-the-great-recession-its-the-great-bank-robbery.html, killing the economy  http://www.washingtonsblog.com/2011/10/the-only-way-to-save-the-economy-break-up-the-giant-insolvent-banks.html and waging war on the people of the world http://www.washingtonsblog.com/2011/07/big-banks-are-waging-warfare-against.html And our democracy http://www.washingtonsblog.com/2010/04/krugman-break-up-the-giant-banks-to-stop-their-domination-of-the-political-process.html and republican form of government http://player.vimeo.com/video/44511301 as well

We can almost understand why Thomas Jefferson warned:

And I sincerely believe, with you, that banking establishments are more dangerous than standing armies ….

John Adams said:  http://www.econ.brown.edu/fac/Ross_Levine/Publication/2011_ChicagoFed_DefenseofWallStreet.pdf  Banks have done more injury to religion, morality, tranquillity, prosperity, and even wealth of the nation than they have done or ever will do good.

And Lord Acton argued: http://en.wikipedia.org/wiki/John_Dalberg-Acton,_1st_Baron_Acton#Notable_quotations

The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.

No wonder a stunning list of prominent economists, financial experts and bankers say WE NEED TO BREAK UP THE BIG BANKS.  http://www.washingtonsblog.com/2013/03/stunning-list-of-bankers-economists-and-financial-experts-who-say-we-need-to-break-up-the-big-banks.html

 

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 Posted on March 14, 2013 by WashingtonsBlog. 

 http://www.washingtonsblog.com/2013/03/stunning-crimes-of-the-big-banks-updated-list.html