Big Banks Have Become Mafia-Style Criminal Enterprises

Banks Conspire to Fleece the Public

Two stories this week prove once again that the big banks are literally criminal enterprises.

Initially, all of the big banks have engaged in Mafia-style “bid-rigging” of municipal bonds, to bilk money from every city in the nation … to the collective tune of tens billions of dollars.

And Barclays and other large banks – including Citigroup, HSBC, J.P. Morgan Chase, Lloyds, Bank of America, UBS, Royal Bank of Scotland – manipulated the world’s primary interest rate (Libor) which virtually every adjustable-rate investment globally is pegged to.


And see this. That means they manipulated a good chunk of the world economy.

Other recent stories also show criminal fraud as well. For example, the big banks have been cheating homeownersespecially veterans.

And as Max Keiser explains, banking giants Mellon and State Street shaved money off of virtually every pension transaction they handled over the course of decades, stealing collectively billions of dollars from pensions worldwide:


(Details here, here, here, here, here, here, here, here, here, here, here.)

Indeed, the entire business model of the big banks is fraud. See this, this, this, this, this and this.

Fraud caused the 1930s Depression and the current financial crisis.

Regulators Have Become “Cops On the Take”

There’s no recovery because the government made it official policy not to prosecute fraud (and see this, this, this, and this).

Unfortunately, the cop is on the take … and the government’s only actions are to cover up the fraud and to leave the people holding the bag.

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  • FGH

    Interesting, but old news…

    “I believe that banking institutions are more dangerous to our liberties than standing armies. ”
    -Thomas Jefferson

    • http://www.scribd.com/Human_Rights_Alert Joseph Zernik, PhD, Human Rights Alert (NGO)

      Old news even relative to banks and regulators in the current crisis/scam…
      Evidence of criminality by Bank of America and its senior executives is already abundant. It is only that the US Government treats it as the beneficiary of sovereign immunity.

      See also:
      [1] 11-08-08 PRESS RELEASE: Los Angeles Superior Court – Widespread Corruption and Refusal of the US Government to Take Action_Presentation in the 16th World Criminology Congress
      http://www.scribd.com/doc/62137835/
      [2] 11-08-08 PRESS RELEASE: Fraud and Corruption in the US Courts are Tightly Linked to Failing Banking Regulation and the Global Economic Crisis – presentation in the 16th World Criminology Congress, Japan
      http://www.scribd.com/doc/62153608/
      [3] 10-05-05 Countrywide, Bank of America [NYSE;BAC], and its President Brian Moynihan Compilation of Records Evidence of Racketeering
      http://www.scribd.com/doc/30975368/
      [4] 10-05-05 Chairs of US Congress Committees of the Judiciary and Banking Are Requested to Join Senator Feinstein’s Inquiries on Comptroller of the Currency
      http://www.scribd.com/doc/30979882/
      [5] 10-07-06 Complaint Filed with US Attorney Office Los Angeles Against Moynihan Bank of America [NYSE:BAC] Bryan Cave LLP Alleging Racketeering
      http://www.scribd.com/doc/33971099/
      [6] 10-07-06 Complaint Filed with US Attorney Office, Los Angeles, Against Brian Moynihan, Bank of America [NYSE:BAC], Bryan Cave LLP, Alleging Racketeering and Large Scale Financial Institution Fraud
      http://www.scribd.com/doc/33971099/
      [7] 11-08-18 California Sues Attorneys for Bringing Allegedly Fraudulent Mortgage Suits – Law Blog – WSJ
      http://www.scribd.com/doc/62890545/
      [8] 11-08-25 Schwab Sues 11 Major Banks for Manipulating Libor _ Reuters
      http://www.scribd.com/doc/63930454/
      [9] 11-09-02 The Feds Discover Evidence that Bank of America has been a Corrupt Organization…
      http://www.scribd.com/doc/63937752/
      [10] 11-10-13 How Bank of America Covered Up Fraud by Silencing Whistle Blowers _ _ AlterNet
      http://www.scribd.com/doc/69994121/
      [11] 11-09-23 Countrywide Whistleblower Sings
      http://www.scribd.com/doc/84037835/
      [12] 12-01-30 Vistas in Legal-Economic Theory: Perpetual corporate immunity as a major intangible capital asset and a driving force in socio-economic development, or lack thereof
      http://www.scribd.com/doc/79912684/
      [12] 12-03-05 Tabibi Allow Failure to Fail – Bank of America Teetering on the Edge of Collapse_ Information Clearing House
      http://www.scribd.com/doc/84056668/
      [13] 12-03-06 Ponying Up_ How Much Have Big Banks Been Docked for the Financial Crisis_ProPublica
      http://www.scribd.com/doc/84181104/
      [14] 12-06-04 Ongoing Criminality at Bank of America
      http://www.scribd.com/doc/96071402/
      [15] 12-06-07 More Evidence of Criminality at Goldman Sachs and Merrill Lynch (Bank of America) – ‘Naked Short Selling’
      http://www.scribd.com/doc/96305590/

  • gozounlimited

    Big Banks Have Become Mafia-Style Criminal Enterprises …. In Order To Support the Illusion of Globalization

    The (B)Clinton/Bush grand scam has fallen apart…..And now the world is being run by psychopaths and sociopaths…..surprised? Obama’s not……

    12 million RBS customers have been shut out of their accounts and ATM withdrawals for SIX days due to a “glitch.” REALLY?

    Let’s be blunt, the EU banking system is a $46 trillion toxic sewer filled with PIIGS debt. Even the ECB’s is not immune to this mess: over a quarter of its balance sheet is comprised of this garbage. You don’t spend over $1 trillion in nine months unless something very very bad is coming down the pike.

    read more: http://gainspainscapital.com/?p=1838
    ***********
    Another Domino Falls in the LIBOR Banking Scam: Royal Bank of Scotland

    Another one bites the dust. The Royal Bank of Scotland is about to be fined $233 million (£150 million pounds) for its role in the Libor-rigging scandal. It joins Barclays as the first banks to walk the plank in what should be, but so far is not, the most sensational financial corruption story since the crash of 2008.

    Read more: http://www.rollingstone.com/politics/blogs/taibblog/another-domino-falls-in-the-libor-banking-scam-royal-bank-of-scotland-20120629
    ***********
    “Money Changers are destroying the world.” Gerald Celente

    see video: http://www.youtube.com/watch?v=LyfKESMBBqU&feature=relmfu
    ***********
    Quelle Surprise! Fed Economists Side Firmly With Bank Criminality Over the Rule of Law – 06/29/2012 – Yves Smith

    Servicers and their foreclosure mill arms and legs have so flagrantly violated long-standing real estate laws in how they execute foreclosures that some states have decided to up the ante in terms of penalties to get the miscreants to cut it out by discussing “Foreclose legally, damnit” laws.

    read more: http://www.nakedcapitalism.com/2012/06/quelle-surprise-fed-economists-side-firmly-with-bank-criminality-over-the-rule-of-law.html

  • http://roycobden.wordpress.com Roy Cobden

    So we can expect to see some token fines levied against the institutions involved while the miscreant individuals who directed the actions continue to collect their bonuses.

    Once again, as in Matt Taibbi’s story last year, “Everything’s fucked up, and nobody goes to jail.”
    http://www.rollingstone.com/politics/news/why-isnt-wall-street-in-jail-20110216

  • Wm Matz

    The banko criminality is rampant:
    1. Fabricated documents and forged documents in millions of foreclosures. (San Francisco Recorder study found 84% of foreclosures had serious document errors.)
    2. False or misleading documentation to borrowers about loans and MBS.
    3. Now we learn they have been manipulating LIBOR. The BIG (!!!) issue here is the proof that the manipulation caused higher rates; that will translate into direct damages, probably in the hundreds of billions of dollars. But it is NOT true that LIBOR is the index used in “every adjustable rate…” Many ARMs use Treasury rates or COFI/COSI/CODI. And most HELOCs use prime. But LIBOR is very widely used, including in virtually all subprime loans.

  • http://healthyprotocols.com Lou

    The big Banks, the CIA and selected parts of the FED gov have LONG been running drugs both legal and illegal into the USA and laundering the profits. The bush family and the klinton family were and may be still the two largest drug crime families.

    Until the good people of America acknowledge this crime and the NUMEROUS crimes committed under the aegis of the US Government our road to perdition continues.

    As the criminal alliance between the criminals in government and the criminals in banking has stolen tens of trillions from the American people; the criminal alliance between the criminals in government and the criminals in Big Pharma may take millions of American lives during the coming H5N1 Politically engineered Pandemic.

    The time to wake up and spread the word is NOW

  • http://www.dolcevitaespresso.com Matthew Schwartz

    Yes this is the nature of capitalism. Chillingly reminded of by the classis scene in THE MATRIX AGENT SMITH: “I’d like to share a revelation that I’ve had during my time here. It came to me when I tried to classify your species, and I realised that humans are not actually mammals. Every mammal on this planet instinctively develops a natural equilibrium with the surrounding environment; but you humans do not. Instead you multiply, and multiply, until every resource is consumed. The only way for you to survive is to spread to another area. There is another organism on this planet that follows the same pattern… a virus.” This is the nature of capitalism. New Markets must always be found to plunder, grind into the dirt and then to move on.

  • http://goo.gl/efdf3 Communal Award

    There is about $900 billion dollar bills and coins in circulation as on June 20, 2012
    There is about $15 trillion dollars worth of credit supplied by banks.
    There is about $55 trillion dollars in total debt, again, supplied by banks.
    What backs the dollar is the faith that the $14 trillion dollars will some day pay the $55 trillion dollars (plus $217 trillion dollars derivatives contracts) off.

  • DAVID REA

    Rogue members in private banking at RBS + ABN Amro act like criminal crews.

    Laws + rules do not apply to them.

    They operate by the 3 D’s: DENY, DELAY, DESTROY.

    We are insiders exposing the next big banking scandal involving private banking fraud, asset hiding, black money,money laundering + tax evasion.

    This HIGH LEVEL private banking is much more than numbered bank accounts + offshore credit cards.

    High level private banking can be hazardous to your health if you get in their way.

    WE are in their way!

    See + keep up to date with our library of Press Releases + postings of evidence until we break out this story in the headlines:

    http://thewhistleblowers.wordpress.com/introduction/

 

 

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