banker greed bankers too big for jail

Gangster Bankers: Too Big to Jail How HSBC hooked up with drug traffickers and terrorists. And got away with it Read more: http://www.rollingstone.com/politics/news/gangster-bankers-too-big-to-jail-20130214#ixzz2LOYBQVU9 Follow us: @rollingstone on Twitter | RollingStone on Facebook Gangster Bankers: Too Big to Jail How HSBC hooked up with drug traffickers and terrorists. And got away with it Read more: http://www.rollingstone.com/politics/news/gangster-bankers-too-big-to-jail-20130214#ixzz2LOYBQVU9 Follow us: @rollingstone on Twitter | RollingStone on Facebook the deal was announced quietly, just before the holidays, almost like the government was hoping people were too busy hanging stockings by the fireplace to notice. Flooring politicians, lawyers and investigators all over the world, the U.S. Justice Department granted a total walk to executives of the British-based bank HSBC for the largest drug-and-terrorism money-laundering case ever. Yes, they issued a fine – $1.9 billion, or about five weeks' profit – but they didn't extract so much as one dollar or one day in jail from any individual, despite a decade of stupefying abuses. People may have outrage fatigue about Wall Street, and more stories about billionaire greedheads getting away with more stealing often cease to amaze. But the HSBC case went miles beyond the usual paper-pushing, keypad-punching­ sort-of crime, committed by geeks in ties, normally associated­ with Wall Street. In this case, the bank literally got away with murder – well, aiding and abetting it, anyway. Daily Beast: HSBC Report Should Result in Prosecutions, Not Just Fines, Say Critics Read more: http://www.rollingstone.com/politics/news/gangster-bankers-too-big-to-jail-20130214#ixzz2LOXlgBue

20 trillion tax haven of rich

this is just another example of banker greed and the feudalistic nature of banking system. corruption of this scale never happened in the roman empire. as a matter of fact, corporations were controlled by the empire who regulated currency to ensure that it cannot be carved or counterfeited. counterfeiting is the right of the baron by virtue of owning slaves or this is the mimic of the securities regulatory act. welcome to the 21st century. this is an article cited from the economist and there are other great gems in rolling stone magazine http://www.economist.com/news/leaders/21571873-how-stop-companies-and-people-dodging-tax-delaware-well-grand-cayman-missing-20 CIVILISATION works only if those who enjoy its benefits are also prepared to pay their share of the costs. People and companies that avoid tax are therefore unpopular at the best of times, so it is not surprising that when governments and individuals everywhere are scrimping to pay their bills, attacks are mounting on tax havens and those that use them. In Europe the anger has focused on big firms. Amazon and Starbucks have faced consumer boycotts for using clever accounting tricks to book profits in tax havens while reducing their bills in the countries where they do business. David Cameron has put tackling corporate tax-avoidance at the top of the G8 agenda. America has taken aim at tax-dodging individuals and the banks that help them. Congress has passed the Foreign Account Tax Compliance Act (FATCA), which forces foreign financial firms to disclose their American clients. Any whiff of offshore funds has become a political liability. During last year’s presidential campaign Mitt Romney was excoriated by Democrats for his holdings in the Cayman Islands. Now Jack Lew, Barack Obama’s nominee for treasury secretary, is under fire for once having an interest in a Cayman fund.