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    Bankers Spotlighted for Corruption - Again

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    beejean

    Posts : 542
    Join date : 2010-02-20
    Location : Boston area

    Bankers Spotlighted for Corruption - Again

    Post  beejean on Sun 20 Oct 2013, 4:00 pm

    Business in the USA:

    JP Morgan Chase was fined $13 billions for their role in selling the bundled mortgage debt packages that de-stabilized the economy in 2008.  Meanwhile, Household International Inc. acquired by the corporation HSBC, a British Company, was fined $2.5 billion for predatory lending practices and money laundering.

    I was reading a comment about finance internationally, and it was suggested that the business community is resistant to supporting candidates from the Republicans because they nearly de-stabilized the economy and risked a sovereign debt default of the U.S. financial behemoth because of tactic of introducing legislation that the Democrats would not agree with Seems like a moot point to me.  The criminal banksters are pulling all the financing money out of the system  to put into coverage of bad derivative bets and everyone is getting squeezed.  Funding the debt isn't really going to make this substantially wrecked system function again. (no, I haven't really gotten over John Corzine giving all the MF Global money to his buddies and not going to jail as the finance company ended up collapsing and issuing false status statements all the while). And I haven't gotten over Barney Frank refusing to release the data on which banks his House Finance committee gave bailout funds, and how much.

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