Two stories this week prove once again that the big banks are literally criminal enterprises.
And Barclays and other large banks – including Citigroup, HSBC, J.P. Morgan Chase, Lloyds, 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.
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:
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).