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$178 Billion In Government Kickbacks: Meet The World's Biggest Organized Crime Syndicate
Once upon a time it was the Sicilian, or Russian, or Japanese, or Chinese mob that were some of the biggest sources of funding for corrupt government officials (incidentally, most of them). After all, the government is smart enough to realize that it is more lucrative to "cooperate" with the world's biggest criminal syndicates than to wipe them out and cut off a major source of funding (of course, when it comes to populist optics and reelection, there is always an easy low-level perp walk every week or so to keep the peasants in place... and Diebold). So while the underlying symbiotic principle between the government and the world's biggest criminal enterprise remains the same, the counterparty has changed.
So who, in simple numeric terms, is the world's biggest organized crime syndicate?
The answer, courtesy of a new report by the Boston Consulting Group, which shows the transfer of some $178 billion in litigation costs into the pockets of government appartchiks in the past 6 years, is clear.
Banks.
From the report:
The new era in banking is characterized by a rigorous enforcement of sanctions. As of September 2014, the cumulative litigation costs for EU and U.S. banks since the onset of the financial crisis has reached some $178 billion.
Most of the costs originated with U.S. regulators' mortgage-related claims, and the remaining litigation costs are divided among claims focused on misselling, violations of U.S. sanctions, improper conduct, market manipulation, tax evasion and misrepresentation. Litigation costs of banks headquartered in the U.S. leapt higher in 2011, driven by mortgage-related claims, which continue to dominate. EU bank costs were kick-started in 2012, beginning with redress payments for misselling payment protection insurance in the UK, followed by market manipulation issues-for example, those related to the London Interbank Offered Rate scandal-as well as improper-conduct litigation, such as anti-money-laundering cases.
The current wave of litigation cases has not yet been settled, and potential-still hidden-litigation risks are substantial. Meanwhile, regulators have shifted their view toward more unified and sanction-based supervision, adopting regulations with a stronger focus on business conduct.
All of these developments reflect the persistent character and future burden of litigation-a new cost of doing business.
Sure enough: when one is a criminal syndicate, the largest in world history, paying litigation kickbacks in the hundreds of billions to the government is just the cost of "doing business."
And here is the absolute punchline: the Sicilian, or Russian, or Japanese, or Chinese, or any other mob, they all had one or more members thrown in jail for good measure.
Just how many bankers have ended up in prison in the past 6 years?
This may be a trick question.
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They do NOT have $178 billion to pay. Large banks are insolvent.
They recycled QE money.
sure they do. they turn dogshit paper in to par money by recycling it through the FED. Yum, yum. How does your dogshit taste today.
Central banking: The second biggest scam in human history.
Boston Consulting Group. Now where have I heard that name before? Oh yea...
http://www.nytimes.com/2012/04/08/us/politics/mitt-romney-and-benjamin-n...
"The two young men had woefully little in common: one was a wealthy Mormon from Michigan, the other a middle-class Jew from Israel."
A phony religion teams up with the worshipers of money and nothing else. What could go wrong?
$178 Billion isn't much out of $16 Trillion. Just sayin'.
https://www.youtube.com/watch?v=HUykpqlEvn0
To be clear, it is the Bank Shareholders who pay the penalties and the inflated bonusus. Which explains why the incentive is NOT to change anything.
"A phony religion"
news flash, dummy: they're *ALL* phony
+1000 for being the only one to catch this...............
What's the first?
Obombya being a Christian male heterosexual citizen of the US?
Yeah its pretty clear now that he is gay.
I was going to go with religion, but you win.
There are three major scams. Historically, war was first, then religion as a tool to create war, then money creation as a tool to coerce people into war. Today, the order of their effectiveness is money creation, religion and war. Each is headquartered in a city state, with laws unto itself and beholden to no tax system. Money creation = Inner City of London; Religion = Vatican; War = Washington DC. Each also is host to an obelisk, because you know the triangle club loves Egyptian reference. Why do you suppose that is?
So obvious I've been saying that for 3 years....this is bullshit
3 years ????......So you are admitting here, that you are a little slow to catch on.
Excellent ... but how did you let Bubba Clinton slip through the dragnet ..?
And Bart "Pretty Boy" Chilton.
And Phil and Wendy Gramm < Billy B gonna need a bigger chart >
Similar to the deck of cards with the Iraqi hierarchy, There should be a deck of " Top 52 Scum Bag Elites" . This may require additional decks of cards. It is an outrage that the corrupt, key political players, who made the world what it is today, are scot-free and thriving for the most part. Where is the accountability? How can justice be served and rightful responsibility become known?
You'd need an 8 deck casino blackjack shoe.
http://www.casinosupply.com/casino-blackjack-dealer-shoe-8-deck-clear/
Fuck you. Pay me. Fuck you. Pay me. Fuck you. Pay me.
Wm, can you please make another chart, showing this Network/Syndicate and their link to Top-Level Oligarchs (Rockefeller...), global Bankstas (Rottenchild, BOE, BOJ, ECB, IMF, BIS, WB, PBOC), and the Deep State (MIC, Gov, LEAs, Academia, Stink/Think Tanks, Ruling Societies) and its State Oligarchs (Bush Syndicate, Brzezinski, Kissinger, Likud, AIPAC, Bilderberg)?
Kinda like a Linkedin for Banksters (degrees of Separation). Thanks, much obliged.
Here's a look at the 10 most profitable tax evaders and the politicians their CEOs, employees, and PACs give the most money to.
Verizon Communications
Profits: $19.8 billion Effective tax rate: -3.8%
Top recipients, 2011-2012
President Barack Obama: $51,493
Sen. Robert Menendez (D-N.J.): $24,450
Sen. Mitch McConnell (R-Ky.): $23,700
Rep. John Boehner (R-Ohio): $22,500
Sen. Kirsten Gillibrand (D-N.Y.): $15,000
General Electric
Profits: $19.6 billion Effective tax rate: -18.9%
Top recipients, 2011-2012
Mitt Romney: $53,750
President Barack Obama (D): $30,493
Sen. Scott Brown (R-Mass.): $23,900
Rep. Howard Berman (D-Calif.): $21,860
Rep. Chris Murphy (D-Conn.): $19,750
Advertise on MotherJones.com
Boeing
Profits: $14.8 billion Effective tax rate: -5.5%
Top recipients, 2011-2012
Rep. Buck McKeon (R-Calif.): $31,750
Rep. Adam Smith (D-Wash.): $25,000
Former Sen. George Allen (R-Va.):$23,500
Sen. Maria Cantwell (D-Wash.):$23,125
Rep. Ron Paul (R-Texas): $20,986
NextEra Energy: North America's largest solar and wind power operator, based in Florida
Profits: $8.8 billion Effective tax rate: -2%
Top recipients, 2011-2012
George LeMieux (R-Fla.): $9,500
Mike Haridopolos (R-Fla.): $4,800
Sen. Maria Cantwell (D-Wash.): $2,000
Rep. Ron Paul (R-Texas): $2,000
Rep. Tom Rooney (R-Fla.): $2,000
American Electric Power: Electric utility based in Columbus, Ohio
Profits: $8.2 billion Effective tax rate: -6.4%
Top recipients, 2011-2012
Rep. John Boehner (R-Ohio): $34,750
Rep. Steve Stivers (R-Ohio): $34,050
Rep. Bob Gibbs (R-Ohio): $21,700
Sen. Joe Manchin (D-W. Va.): $19,750
Sen. Sherrod Brown (D-Ohio): $18,450
Pacific Gas & Electric: California electrical utility
Profits: $6 billion Effective tax rate: -8.4%
Top recipients, 2011-2012
President Barack Obama (D): $6,250
Rep. Jim Costa (D-Calif.): $5,000
Rep. Kevin McCarthy (R-Calif.): $5,500
Rep. Fred Upton (R-Mich.): $5,000
Rep. Jeff Denham (R-Calif.): $3,500
Apache: Houston-based oil and gas company
Profits: $6 billion Effective tax rate: -0.3%
Top recipients, 2011-2012
David Dewhurst (R-Texas): $25,000
Rep. Connie Mack (R-Fla.): $5,000
Rep. Bill Cassidy (R-La.): $2,500
Rep. Mike Conaway (R-Texas): $2,500
Rep. Gene Green (D-Texas): $2,500
Sen. Mitch McConnell (R-Ky.): $2,500
Brendan Doherty (R-R.I.): $2,500
Consolidated Edison: New York energy company
Profits: $5.9 billion Effective tax rate: -1.3%
Top recipients, 2011-2012
Sen. Maria Cantwell (D-Wash.): $15,050
Sen. Kirsten Gillibrand (D-N.Y.): $8,000
Rep. Edolphus Towns (D-N.Y.): $6,650
Then-Rep. David Wu (D-Ore.): $2,500
Rep. Joseph Crowley (D-N.Y.): $1,500
Sen. Harry Reid (D-Nev.): $1,500
Rep. Jose Serrano (D-N.Y.): $1,500
El Paso: Houston-based energy company that operates the country's largest natural gas pipeline
Profits: $4.6 billion Effective tax rate: -0.9%
Top recipients, 2011-2012
David Dewhurst (R-Texas): $7,500
Mitt Romney (R): $5,000
Rep. John Barrow (D-Ga.): $3,000
Rep. Diane Black (R-Tenn.): $2,750
Sen. John Barrasso (R-Wyo.): $2,500
Sen. Max Baucus (D-Mont.): $2,500
Sen. Mitch McConnell (R-Ky.): $2,500
Gov. Rick Perry (R-Texas): $2,500
Rep. Fred Upton (R-Mich.): $2,500
Sen. Roger Wicker (R-Miss.): $2,500
CenterPoint Energy: Electric and gas utility company based in Houston
Profits: $3.1 billion Effective tax rate: -11.3%
Top recipients, 2011-2012
David Dewhurst (R-Texas): $22,050
Gov. Rick Perry (R-Texas): $13,458
Sen. Mitch McConnell (R-Ky.): $10,299
Rep. Greg Walden (R-Ore.): $7,000
Rep. Kevin Brady (R-Texas): $4,000
Giving data from the Center for Responsive Politics. Includes all 2011-12 campaign donations from each company's employees and corporate PACs.
Some political whores are sure a lot cheaper than others. Of course, this is just the "known value". Who knows what goes on behind closed doors?
Look at the tax savings compared to the 'contributions'
Politicians make crack whores look expensive in comparison
Rubin the Scrotum is aptly named. But who is Johnny Commode? Looks kinda like that HUD skunk Sean Donovan.
that's thain isn't it?. whatever happened to him?
Best one yet. Too bad you missed Nicky Two Toes.
Red arrow. Can't see the whole thing because of Tylers cunty right margin follows me wherever I scroll. Red arrow me if you like, I'm getting tired of not being able to see Williams' fine works of art because of permamargins.
Edited to add: Same thing for any videos. Cant watch them because of the immovable movable margin on the right. These issues are so 1990's, wtf Durden?
Austin Powers just woke up and said, what the fuck is that in the White House?
This ^.
It's a tax on QE. It has the side benefit of making well-connected lawyers and revolving-door regulators rich too.
How do you say "Protection Money" at Harvard?
Just as the Inuit have 18 different ways to describe snow Harvard has their list for "Protection Money":
HFT, weekend float, rehypothication, bid / ask spread, securitization, slam the close, cook the books, mark to fantasy, structured products and my personal favorite - Doctorate
Supper Club
Litigation != Kickbacks
Hangings would be a lot cheaper, and effective.
Also, with Hangings there are no repeat offenders.
Guillotines would be a shit pile more fun.
We are Americans. We hang people. You want guillotines, then move to France.
a lot more entertaining at least. What's really sad is fines will be recorded as losses and litigation costs are written off the tax liabilities, hell they could come out ahead with our tax system as it is,
but nail guns are dual use!
I'm actually ok with no jail time for the banksters, but only as long as a fatal power tool accident is involved...
I think you've answered your own concern: Cost.
There has to be Cost in Doing Business. As in "spending FRNs", to keep the Fiat+FRB Ponzi going. Hangings would short-cut that process. Am I mistaken?
As longs as nobody goes to jail we can sleep easy at night.
What are you going to tell me next, that the US is in Afghanistan for the opium?? Not true...right, right??
Hmm..shortly after the Anglo-American takeover of the World's Largest Opium Producer, Americans were offered a choice of Presidents between Skull & Bones A vs Skull & Bones B. Skull & Bones is a Yale secret society founded and funded by the Russell Trust, whose family fortune was made running drugs and weapons during the Opium Wars.
After the invasion, opium production leapt over a 100-fold and exports of raw Opium increased likewise. Significantly the large amounts of foreign aid have upgraded Afghan roads, distribution systems, and industrial processing plants, so that "value-added" Heroin can be manufactured and exported on an industrial scale, somehow occurring under the blanket airspace surveillance of the DOD, ISAF, and CIA.
I'm sure it's all a coincidence.
And certainly not a $4,000,000,000,000 slush fund enriching political elites, drug and weapons traffickers, and money laundering TBTF banks.
Gotta be a coincidence. I mean, it's not like there's historical evidence pointing toward exactly this type of complicit Elite Shadow Syndicate Power directing Multi-National Criminal Enterprise...
http://www.geopoliticalmonitor.com/afghan-heroin-the-cia-519/
Nothing short of racketeering.
Hey, beats workin'!
FSA. The wheel turns.
I'm sure the good folks in the NY District Attorney's Office will serve up a RICO indictment shortly.
Ha, $178B is just two months of QE.
Fine = max($10M, Fuckery Amt. / 1000)
When fuckery amt. is $1B, fine is $1M.
When fuckery amt. is $10B, fine is $10M.
When fuckery amt. is $100B, fine is $10M.
When fuckery amt. is $1T, fine is $10M.
etc.
+1. I've heard of the Texas Two-Step. You've just described the DC Two-Step: $1M or $10M.
Sounds easier than DWTS.
Just a "cost of doing business." And at those bargain rates, business will flourish.
The FBI was too busy to indict even one bankster for 6,000,000 cases of mortgage fraud that led to the last financial crisis. But the FBI found the resources to infiltrate and breakup the Occupy movement.
Some crimes cannot be tolerated in the land of the free.
has Eric Holder measured for drapes for his corner suite on wall street yet?
Soros funded think tank...Holder is too smug for an actual office
You mean he's not going back to C & B to further faithfully defend the white collar criminals? You must admit he's done a very good job of defending them so far. Maybe a Fed Reserve Board seat? C & B holds many of those.
Brent < $70
How can we get the word out and organize?
You need a canned Sales Pitch. Unfortunately I write things that are too long. So you need some short bullets written on 3 x 5 cards by subject.
repost:
I predict we will never see an end to ZIPR, so that Industry & the greater economy can continue to Frak.
After 6 Years of no interest on Savings & Checking Accounts & CDs... you have to have some conclusions about concern for Main Street.
- It was 50 Years of US Stock Market Obscurity, till like 1980 when stocks became interesting, but US Public Burned in the Original Stock Market Crash in 1929, eschewed Stock Equities
- But Technology Grew in Capital Ownership
- Computers & Automation & now Robotics came in
- Outsourcing & Off Shoring came in
- US Decapitalization became a Trend
- US Mergers & LBO became a Trend
- Many Visible means to Reduce Costs became Culture
- Today Still no hue and Cry about lost 6 Years for Fixed Income US Voters/Savers
- The Public was Fooled by Conflicting Policies starting in the 1970s with the Nixon Shock and Petrol Dollar
- Hidden Policies like the Monroe Doctrine of US Military Republic Remain little known even though older than 1823
- Ron Paul just made a statement that Foreign Police will Remain confusing, and therefore wasteful and corrupt
- US Savers are just one of the Victims of Executive Office Conflicted Policies and Lip Service to do what is best for all people
- Wealth Migration from the Middle Class & Poor to the .1% will continue, the effects are a certainty with current trends, trend analysis, and poor Democracy in USA
- Political System is broken, Free Press is Broken
- Federal Tax Policy Trend is less tax on Commerce & Wealthy, leaving the Biggest Corporate Welfare System in history to harvest the Wealth of ordinary people on Main Street
- Wall Street is so Crooked, Auditing is gone, Real Ratings are gone, to an Era of Replica Financial Instruments, Fraud Reigns Supreme, All Markets are Fixed
- $18 Trillion Exponential Federal Deficit, 6 years ZIRP for Savers, Endless Foreign Wars, Free & Full Charters for TBTF Banks to Create Money from thin air, Endless Fraud, Endless Lobbying delays legislation then buys the Legislation, Endless Free Trade to Slave Labor which can be hidden anywhere it turns out, Endless Monopolies as Lobbying Props up and effectly overturns Teddy Roosevelt to where it like Roosevelt was never born
- The Money Trust not taught in Schools, the Folly of US Stock Markets not taught in Schools,
What set USA apart from Third World Countries was:
- Interest on Savings or CDs
- Success in Financial Markets in a Modern Era
- Strong Wages that allowed workers to buy cars, houses, houses, Stereos, Computers
- Strong Manufacturing. Pride in USA Autos.
- Military Strength, Great Weapons, Strategic Locations
- US Inventiveness/Creativity
- US Equality, Credit for all who could work, Justice for those that stayed out of Trouble
- The Illusion that US Politics worked, that social programs would now help the poor, sick or elderly, that politics were inclusive, that Education systems were Honest, that we had a Free Press
- And the USA had Civil, Individual, and Human Rights and that they were permanent in our Justice System protected by the DOJ, FBI, SEC, FTC, GAO, CBO, FINRA, FDIC, Treasury, FED, OCC... and our Bank Examiners & Government Employees
Bottom Line: US has become Europe of the 1960s
Coming late to this, but this is a great summary - many thanks. Even my kids'
attention span can take all this in ;-)
The beauty of the scam...is Obama decides(with help from liberal power brokers) where to push the slush. NY is using their slush fund for rape kits....as nothing says helping out homeowners like funding rape kits...well that was $38 million...the other couple billion are redecorating Cuomo summer home or something.
In the old days mobsters payed " runners" to move the cash from the betters to the casino.
Now the banksters pay " senators and congressmen" to move the cash from the betters to the Federal Reserve.
Bitchez
Logic (haha) dictates then. that a pathological corrupt banker is more valuable to this government through the largesse of his systematic theft.
Stand and Deliver
"Meet The World's Biggest Organized Crime Syndicate"
The Rothschilds.
An American, not US subject.
More than 30 years ago, when I was seeking venture capital, I was told by a very accomplished self-made man that the secret of his wealth accumulation was working with small banks. He would cut the bankers, who were backing him in one deal, into another deal being financed by another bank (who were getting a cut in the first bank's deal). This way the bankers avoided the appearance of favoritism and personal dealing. This cycle of wheeling and dealing grew geometrically into deals of substantial size; but always through banks small enough to keep the players close, and the terms private.
Eventually, he bought 100% of his own bank. "Anachronism, owning a bank is like getting a license to steal." He said to me back then. Simpleton that I was, I preferred to strike out on my own (and struck out!), when I should have worked for him.
Just imagine what he could have done, had he started with GS, MS, MER, JPM, C, WFC, or BAC? But he wasn't Jewish; and he held no degree from a brand-name institution. He had no pedigree, nor seed capital to start with. And no "Rabbi" nor "Godfather" to guide and promote him. So, he probably wouldn't have gotten a chance with any of them. But he certainly understood how the financial world works. (This one's for you, FC!)
There is only one thing that is greater in karmic repercussion than the original crime and corruption itself. It is the IGNORANCE of the crime that is the real crime, and one that most people think they can escape the huge karmic retributions of, that will come from that ignorance.
Any society that chooses to live in the state of Ignorance, no it is not next to DC, but to actually day by day live in the absolute ignorance of these horrible crimes, corruptions and murders, will suffer a horrible karmic pay-back sometime in their lifetime and it may, or may not be obvious as to why they have been befallen by some sort of calamity, or grandiose loss.
The truth is, one can ignore that reality of criminality and corruption at their own peril, or not. Stopping the crime and corruption is good karma. Not stopping it, is not.
There is NO escape from Universal Karmic Justice, that double edged kind, and no matter what haze of illusions or distractionary man's unreal laws are applied, sooner or later EVERY SOUL on board will pay the entire amount of karma due to the Earth, and Universe.
Many have ignored this fact, and many choose to live in ignorance of this Immutable Law. The truth truly is, there is absolutely NO ESCAPE from this Karmic Law. What goes around, comes around. For every action, there is an equal and opposite reaction. It can happen on the physical plane, in the spiritual dimension, or both. The real deal is it will happen sooner...or later.
Choose well the karma that you wish to ware all your life or not, said the Old Knight.
rebellion to tyrants is obedience to karma -- may the guillotines roll
Well said and as you say very misunderstood.
When Anubis does the final weighing we should all have plenty of darma to add on the other side of the scale. Anubis does not forgive debts.... Hmmm... maybe Rothschild is Anubis.
Its what the Godfather's pay their good earners. Print 5 trillion give away 180 billion, 3.8% vig doesn't seem like a big deal. Let's not forget that all that sovereign debt that the banks own will never be defaulted on, and sooner or later the Central Bank will own everything.
that's not even 10%
meh, wouldn't get you one F-35
We have the Congress and President that Fannie Mae bought
It takes a Bernie Madoff to make it happen, and that's precisely why something this catasrophic will happen again.
Might be 20,000 Lobbyist now including Foreign Lobbyist. Almost 6 Million Bankers.
All Employees: Professional and Business Services: Legal Services 2014-10: 1,134.7 Thousands of Persons Monthly, Seasonally Adjusted, CES6054110001, Updated: 2014-11-07
All Employees: Financial Activities: Securities, Commodity Contracts, Investments 2014-10: 886.8 Thousands of Persons Monthly, Seasonally Adjusted, CES5552300001, Updated: 2014-11-07
All Employees: Financial Activities: Finance and Insurance
2014-10: 5,927.9 Thousands of Persons Monthly, Seasonally Adjusted, CES5552000001, Updated: 2014-11-07
Keep in mind Bernie ripped off his own tribe members. The unforgivable sin. He may have been a closet Christian.
hal 9000: "what are you doing dave?................... dave?............................. dave?"
what a joke! YOU LOOK AT MAIN STREET OVER THE LAST 6 YEARS GOING DOWN IN FLAMES, THE ONLY BUSINESS DOING WELL ON MAIN STREET FOR THE LAST 6 YEARS WAS THE COURT HOUSE! .... COURT HOUSE PARKING LOT WAS ALWAYS FULL THE LAST SIX YEARS AS WE ALL LOST OUR BUSINESSES!
RACKETEERING! THAT'S WHAT IT IS ! JUDICIAL GOVT RACKETEERING!
"GOVT RACKETEERING!"
Yes! People People People!
Forget the banksters for now...The clear and present danger is the FedGov Leviathan! Banksters are merely enablers. We have to restore a legitimate constitutional republic FIRST! Get rid of the 4th and now most powerful branch of gov....the unelected unaccountable FedGov buracracy.
How? There are only two ways. One peaceful, one not. The peaceful way is a convention of the States.
Fix and Eliminate FedGov structure first. Then go after the bankster apparatus.
A handful of executives at Taylor Bean & Whitaker went to prison.
Fedgov obviously needs to raise taxes.
Tht'll fix things.
Answer to how many bankers have gone to jail?
The Bankster dude from Iceland was just chucked into prison in Iceland
for one year. The total bankster dudes that have been put in prison is
TOTAL= 1 since 2008.
Where is my prize? :|
What do you call 10,000 attorneys at the bottom of the sea?
A good start. Any chance they dragged down some corrupt politicians with them?
Somebody call the police. The money changers got hold of the press.
"Russian" Mafia is a misnomer and an insult to real Russians. It is actually now a Judeo-Israeli-Zio Mafia that had it's origins out of Russia.
https://archive.org/details/TheJudeo-russianMafia-FromGulagsToBrooklynTo...
It should be obvious to everyone by now. We are in an economic war. The bankers are the guyz fighting it. In war there are no rules, except to win. That's why Lloyd Blankfein et al are doing God's work. They are trying to keep our system alive, and if they do, it will be wonderful because we will be able to eat and thrive. Existence precedes essence, or something like that.
Although its primary intent was to deal with organized crime, Blakey said that Congress never intended it to merely apply to the Mob. He once told Time, "We don't want one set of rules for people whose collars are blue or whose names end in vowels, and another set for those whose collars are white and have Ivy League diplomas."
http://en.wikipedia.org/wiki/Racketeer_Influenced_and_Corrupt_Organizati...