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Wednesday, July 4, 2012

The Many Ways Banks Commit Criminal Fraud | ZeroHedge

Blogman's Notes: In my latest video update titled There are no Markets anymore - There is only Fraud!, the subject was massive fraud that is the whole Economic System in the modern world, particularly in banking. The following article expands on the info in that video. When will the sheeple wake up and realize that since fraud is the name of the game, all except for the very few perpetrators / beneficiaries  (the 0.1% or less), the remaning 99%+ have to be the victims. We are all being victimized from the lowest of the low to the upper Middle classes, and even some that are wealthy but not a part of the inner circle of the minuscule 0.1% or less who pull the levers of the Global Economy and Politics!
The Libor scandal seems to be waking people up to manipulation and fraud by the big banks.
There are many other types of fraud they've engaged in as well ...
Here is a partial list:
  • Pledging the same mortgage multiple times to different buyers. Seethisthisthisthis and this
  • Engaging in mafia-style big-rigging fraud against local governments. Seethisthis and this
  • Bribing and bullying ratings agencies to inflate ratings on their risky investments
  • Pushing investments which they knew were terrible, and then betting against the same investments to make money for themselves. See this,thisthis and this
  • Engaging in unlawful "Wash Trades" to manipulate asset prices. 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 hereherehereherehereherehere,herehereherehere andhere
  • Participating in various Ponzi schemes. See thisthis and this

  • But at least the big banks do good things for society, like loaning money to Main Street, right?
  • The big banks have slashed lending since they were bailed out by taxpayers ... while smaller banks have increased lending. See thisthisand this

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