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Are Big Banks Criminal Enterprises?
Here are some recent improprieties by the big banks:
- Laundering money for drug cartels. See this, this, this and this (indeed, drug dealers kept the banking system afloat during the depths of the 2008 financial crisis)
- Shaving 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 and here
- Charging “storage fees” to store gold bullion … without even buying or storing any gold . And raiding allocated gold accounts
- Committing massive and pervasive fraud both when they initiated mortgage loans and when they foreclosed on them (and see this)
- Pledging the same mortgage multiple times to different buyers. See this, this, this, this and this. This would be like selling your car, and collecting money from 10 different buyers for the same car
- Cheating homeowners by gaming laws meant to protect people from unfair foreclosure
- Committing massive fraud in an $800 trillion dollar market which effects everything from mortgages, student loans, small business loans and city financing
- Engaging in insider trading of the most important financial information
- Pushing investments which they knew were terrible, and then betting against the same investments to make money for themselves. See this, this, this, this and this
- Engaging in unlawful “frontrunning” to manipulate markets. See this, this, this, this, this and this
- Charging veterans unlawful mortgage fees
- Cooking their books (and see this)
The executives of the big banks invariably pretend that the hanky-panky was only committed by a couple of low-level rogue employees. But studies show that most of the fraud is committed by management.
Indeed, one of the world’s top fraud experts – professor of law and economics, and former senior S&L regulator Bill Black – says that most financial fraud is “control fraud”, where the people who own the banks are the ones who implement systemic fraud. See this, this and this.
But at least the big banks do good things for society, like loaning money to Main Street, right?
Actually:
- The big banks no longer do very much traditional banking. Most of their business is from financial speculation. For example, less than 10% of Bank of America’s assets come from traditional banking deposits. Instead, they are mainly engaged in financial speculation and derivatives. (and see this)
- The big banks have slashed lending since they were bailed out by taxpayers … while smaller banks have increased lending. See this, this and this
- A huge portion of the banks’ profits comes from taxpayer bailouts. For example, 77% of JP Morgan’s net income comes from taxpayer subsidies
- The big banks are literally killing the economy … and waging war on the people of the world
- And our democracy and republican form of government as well
- advertisements -


I've thought long and hard for a word that best describes Wall Street, the banks and their inherent behavior.
LOCUSTS
Symbiote
Naaah...symbiosis is normally a positive transference, like stomach bacteria aiding in digestion --- but few of us can digest this crapola.
LOL..i was thinking more of Marvel Comics Symbiotes
The ability to negate damage caused by terminal illnesses and permanent injuries while not actually healing it...etc...se Wikepedia ;)
To George Washington. Tally-ho! You're ruining the plausible deniability thing they had going on whilst engaging in criminal enterprises. Good work sir. I'm not mad, even UPS is not hiring.
Yes, 'nough said.
of course not, after all we are their
'human resourse'
survivingsurvivalism.com
Is the last Pope Catholic?
IDK, but we are buying BB DIA August puts here:
http://richcash8tradeblog.blogspot.com/2012/07/rich-cash-overnight-options.html
i believe the expression is "does the pope shit in the woods"?
Or, does the pope enjoy fondling a little boy's balls?
FYI: Should any assassins with the Vatican Secret Service be reading this, my home address is the same as Jamie Dimon's.
For those of you who like details read VINCENT R. LoCASCIO. Sadly for us, he is no longer amoung the living.
In a nutshell: Duh!
I was going to say:
Well... Duh!!!
So make that a +1 for your comment.
Are big banks criminal enterprises? When our whole monetary system is based on a Ponzi system of constantly expanding exponential growth in debt to stay stable? Forcing the Federal government to borrow money and pay interest instead of just issuing US dollar bills to pay for stuff government needs is an extortion racket. Plain and simple, the government is the mafia and the banks are the bosses. We are the marks.
Their time will come, and it will hit them hard. Computers keep track of everything. We will eventually track them all down, their children and or grandchildren and see that justice is served. There is no escaping, there is no way they can get off the planet. They can hide their wealth for only so long. It is not wise to imprison others and steal from them when you are greatly out numbered and live inside the prison with your victims. All in good time.
i am sometimes tempted to cry for joy when i read george's blog because it contains so much truth....the first point about money laundering for drugs is so under reported and so little known but the mainstay of bank survival......
keep reporting george - i so love what you do....
the banks are indeed criminal enterprises run by crimnal thugs and protected by a criminal government....
You are exactly right.
For those who have followed this for a while take a quick look at this picture
The picture is priceless. It symbolizes the entire thing.
NYSE Chairman Richard Grasso Embracing A FARC Commander
The Ultimate New Business Cold Call
http://www.scoop.co.nz/stories/HL0202/S00069.htm
Lest you think that my comment about the New York Stock Exchange is too strong, let's look at one event that occurred before our "war on drugs" went into high gear through Plan Colombia, banging heads over narco dollar market share in Latin America.
In late June 1999, numerous news services, including Associated Press, reported that Richard Grasso, Chairman of the New York Stock Exchange flew to Colombia to meet with a spokesperson for Raul Reyes of the Revolutionary Armed Forces of Columbia (FARC), the supposed "narco terrorists" with whom we are now at war.
The purpose of the trip was "to bring a message of cooperation from U.S. financial services" and to discuss foreign investment and the future role of U.S. businesses in Colombia.
Some reading in between the lines said to me that Grasso's mission related to the continued circulation of cocaine capital through the US financial system. FARC, the Colombian rebels, were circulating their profits back into local development without the assistance of the American banking and investment system. Worse yet for the outlook for the US stock market's strength from $500 billion - $1 trillion in annual money laundering - FARC was calling for the decriminalization of cocaine.
*cold call = demand to pay the vig
True, and as bad as that is, it's really the lesser story --- follow the financing behind the drugs, and you find the bank/oil cartel.
.
Does a bear shit in the woods?
Does a bear wear a funny hat?
Do bears like coke and hookers?
Are banks criminal enterprises?
Do Ursidae defecate in arboreal regions?
Inherently, no.
The problem is that the locus of money is where all the criminals flock toward, just like the locus of power is where all the megalomaniacs head toward.
Consequently, you have Blankfein, Madoff, and Corzine (among others!) on Wall Street and Obama, Reid, and Pelosi in Washington.
Obama, Reid, and Pelosi are not hungry for power megalomaniacs. They do what they're told. They're pimps whoring out the nation.
i admit it..i googled ursidae, which wasnt very taurus'ish of me :)
Oh and don't you think that anyone who does not contribute taxes is not actually a legal entity and as such cannot be licensed as a business?
Heres a start, spray paint THIEVES on the side of every bank branch you live near.
or deck them in "crime scene" tape.
Re Are Big Banks Criminal Enterprises?
If they are not Criminal Enterprises, then I have absolutely no idea what they are.
They are the Angels of Destruction set on desintegrating a despotic monetary system. I wrote a blog on the subject a few weeks ago:
http://vaevictis.me/2012/07/03/vae-victis/
Perhaps some people here are thirsty for an alternative point of view.
So why isn't the SEC or the Justice department compelled, by ANY lawsuit filed against these banks, to investigate and prosecute them?
And, pending that not happening whay isn't Zero Hedge in the streets demanding same?
You folks seem to understand what is going on better than anyone!
Sometimes in reading your articles and posts I just have to shake my head because I don't understand the concepts or nomenclature used and I like to think that I'm not stupid.
“In the beginning of a change, the Patriot is a scarce man, Brave, Hated, and Scorned. When his cause succeeds however,the timid join him, For then it costs nothing to be a Patriot.”
- Mark Twain
Seriously anyone trying to change the monetary system is very likely going to get shot. Kennedy? Issued an executive order to issue US silver certificates - debt free money. Six months later? Assasinated. Lincoln? There were certainly many reasons to kill Lincoln, but he issued debt free money to pay for the Civil War. Lincoln assasinated. Reagan, was at least friendly to sound money advocates and supported a gold standard commission. Reagan got the message when Hinkley shot him.
The banks are criminal enterprises supported by various government agencies that interlock to protect the racket. It's very hard to pierce the armor when they control both parties, academia, government, and media. The SEC and the Justice Department are only there to give a patina of credibility to the whole system. Only low level grunts get prosecuted. The real white collar criminals will never be outed or prosecuted because the chains of corruption are too long. If they prosecuted the whole chain the system would be exposed as a total parasitic fraud and the muppets might riot and change the system. Best to let the muppets think they have a choice and let them argue about issues that don't really matter. As long as the Lords of Finance are in charge, it won't matter either way.
Kennedy was not the hero you are looking for.
pods
Need to set up a Banker Extermination Day and take out 200-300 of the biggest banks leadership in one fell swoop.
Then invite more bankers to take their place.
A couple of times of this and no one will work for the big ones.
You get a BIG +1 for this
"Best to let the muppets think they have a choice and let them argue about issues that don't really matter."
Leave the homosexual out of this.
Actually, it was JFK's tax bill, and doing away with their oil depletion allowance on the final budget submitted to congress, and his urging of land reforms throughout South America which was busting their tiny little crooked balls.
Which was why David and Nelson Rockefeller picked up the phone and gave the order.
You're missing the theme. Don't threaten the money monopoly.
On the list should be 'Old Hickory' Andrew Jackson who smashed down his bankster assasin with his walking stick. Lucky for AJ, the pistols misfired. Then there's Garfield. What did he do wrong? Hmmm. Something the banksters took exception to I'm sure.
you know that the hinkley family were good friends of the bush clan and in fact hinkleys brother ate dinner at the bush residence the night before reagan was shot
They use their own kids as Manchurian Candidates to carry out their agenda!
This is what the enemy looks like.
What was it Bush did before he was Veep? Oh yeah CIA and CFR.
You mean Holder(white Clloar Crime defence lawyer)'s DoJ.
Funny.,you missed the sarc.
>>And, pending that not happening whay isn't Zero Hedge in the streets demanding same?<<
Armchair... too... comfy. Can't... move.
Speak for yourself, I'm sitting on an overturned 5 gallon plastic bucket...banging the key board of a decade and a half old PC.
Fuck man I'm living the dream. /s
Teak. Everywhere.
If I break down and buy a galaxy, I could lie in a hammock and read ZH. But what if the tablet irradiates my nuts? What then?
.
Not to worry. It'll give you a glow worm to match them.
I read an article once about BAC having been created for CIA laundering and funneling of weapons money, but in the conspiratorial realm nothing is true.
Oh and my tax payment checks have the BAC stamp on them. IRS clearing house.
Oh and if you have cash or money market funds in Merrill Lynch, you should be worried, you have already dodged bullets. My folks management team has left the bld. and newbies have taken over. They still think it is a top notch financial mgt co.