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Wednesday, August 8, 2012

The Rise of a Criminal Financial / Banking / Corporate / Political Class of Elites that is above the law in very country!

Editor's Note: It is an indisputable fact that the the Political / Corporate / Banking leaders  of every nation in the world are criminals, even by their own laws. However, since they are the enforcers of laws within their borders, and even across the Globe as in the case of the US, they are above the law. This is why they are rarely charged with flagrant violations of their own laws, and are almost never punished. In this day and age, their violations that impact the people of the whole world have grown gigantic in scale, to the tune of trillions, yet no one gets questioned let alone punished for such criminal activity. Laws are not made for the .1% that control the money  of the world, and that exercise power in this world, they are made for the remaining 99.1% of the population!

Introduction: Never in the history of the United States have we witnessed crimes committed on the scale and scope of the present day by both private and state elites.

An economist of impeccable credentials, James Henry, former chief economist at the prestigious consulting firm McKinsey & Company, has researched and documented tax evasion. He found that the super-wealthy and their families have as much as $32 trillion (USD) of hidden assets in offshore tax havens, representing up to $280 billion in lost income tax revenue! This study excluded such non-financial assets as real estate, precious metals, jewels, yachts, race horses, luxury vehicles and so on. Of the $32 trillion in hidden assets, $23 trillion is held by the super-rich of North America and Europe .
A recent report by a United Nations Special Committee on Money Laundering found that US and European banks laundered over $300 billion a year, including $30 billion just from the Mexican drug cartels.
New reports on the multi-billion dollar financial swindles involving the major banks in the US and Europe are published each week. England ’s leading banks, including Barclay’s and a host of others, have been identified as having rigged the LIBOR, or inter-bank lending rate, for years in order to maximize profits. The Bank of New York, JP Morgan, HSBC, Wachovia and Citibank are among scores of banks, which have been charged with laundering drug money and other illicit funds according to investigations from the US Senate Banking Committees. Multi-national corporations receive federal bailout funds and tax exemptions and then, in violation of publicized agreements with the government, relocate plants and jobs in Asia and Mexico .
Major investment houses, like Goldman Sachs, have conned investors for years to invest in ‘garbage’ equities while the brokers pumped and dumped the worthless stocks. Jon Corzine, CEO of MF Global (as well as a former CEO of Goldman Sachs, former US Senator and Governor of New Jersey) claimed that he “cannot account” for $1.6 billion in lost client investors funds from the collapse of MF Global in 2011.
Despite the growth of an enormous police state apparatus, the proliferation of investigatory agencies, Congressional hearings and over 400,000 employees at the Department of Homeland Security, not a single banker has gone to jail. In the most egregious cases, a bank like Barclay’s will pay a minor fine for having facilitated tax evasion and engaging in speculative swindles. At the same time, the principle ‘miscreant’ in the LIBOR swindle, Chief Operating Officer (COO) of Barclay’s Bank, Jerry Del Missier, will receive a severance payout of $13 million dollars.

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