Banking Corruption Continues
Spain is the home of the M15 movement which set a precedent in achieving a criminal indictment against the head of Bankia and former head of the International Monetary Fund, Rodrigo Rato.
He could end up serving six years behind bars. The attorney general of Spain stated that, “This is just the beginning." This suggests that more criminal indictments may follow.
The M15 movement, patterned after the Occupy Wall Street movement, was the catalyst that ignited a firestorm. Their ranks were swelled by all sectors of Spanish society. Their popular slogan is “Real Democracy Now” and it appeared across the land. The movement’s strength lies in its broad base and an awakened political consciousness that is demanding transparency and accountability from the banking and political elites.
Does all of this sound familiar? It is, in that the same predatory, illegal activities practiced by Spain’s banking community were instrumental in the collapse of the US banking system and the resultant taxpayer bail out. Toxic assets were foisted on to the world market, especially in the guise of subprime mortgages. As recently demonstrated by J.P. Morgan Chase, the banking community has not been chastened and Wall Street continues its questionable practices.
In the U.S., unlike Spain, there have been no significant indictments of those Wall Street titans that direct the six financial conglomerates which control most of the country’s wealth. And until criminal indictments come down, there will be little or no change from the banking community or from the best Congress that money can buy. As in Spain, we the people must demand “Real Democracy Now” which encompasses transparency and accountability from the Wall Street titans.
Don Torrence
ibthinkin
2:19 am on Friday, July 13, 2012
Hey Don Great info. Could you please comment on why some states took the money from the 2.5 BILLION housing settement intended to help some homeowners out and just keep it to fill some budget short commings?
The link is below
http://www.nytimes.com/2012/05/16/business/states-diverting-mortgage-settlement-money-to-other-uses.html?_r=1&hpw
Barry Allen
8:56 am on Friday, July 13, 2012
Well, in the mortgage/foreclosure debacle the reason there were no indictments could be because the AGs of 49 states and DC decided to file a civil suit, instead, to go for a monetary penalty. It was the easier (and more profitable) way out. The standards for a civil suit make it easier to win and win they did. The largest banks gave up billions to settle.
Some folks (obviously the AGs of 49 states) decided that was better than fighting for years to send a handful of people to jail.
So, although you imply that the Wall Street folks are getting away with "it", the truth is that our legal system (the elected AGs) just decided to pick an easier route.
Michael
2:43 pm on Wednesday, July 18, 2012
Spain has an unemployment rate of nearly 25%, - nearly 40% of young Spaniards are unemployed - with one of five living below the poverty level. Spain has a public debt of nearly two thirds its GDP. Spain is not the country we need to look to for an example of a well run nation.
Roseann
10:05 am on Thursday, July 19, 2012
Don, what exactly do you mean by "REAL Democracy Now?" That sounds exactly what the Democratic Socialists of America say. Maybe it's not a democracy that you're asking for (btw-America is a republic.) ???
Anyhow, I understand the anger about banksters not being arrested and suggest you read the following:
Are Big Banks Criminal Enterprises?
http://www.ritholtz.com/blog/2012/07/are-big-banks-criminal-enterprises/
Guest Post: Poor Thieves Go To Jail, Rich Thieves Don’t
http://www.zerohedge.com/news/guest-post-poor-thieves-go-jail-rich-thieves-don%E2%80%99t
The Reign In Spain May Soon Be Over
http://www.zerohedge.com/news/reign-spain-may-soon-be-over
You may get what you ask for, since we may well end up just like Spain...and Greece....and Italy, France etc...etc...etc...
Roseann
10:33 am on Thursday, July 19, 2012
Wait....you won't believe this.
"A recent CNBC clip in which financial analysts admit to viewers that America is under the control of a group of central bankers who are building a world government is a damning insight into how the establishment has dispensed with any pretense of trying to hide their agenda as it is finalized."
"During the video, the host asks guests, “Do we all work for central bankers – is this global governance at last – is it one world – the central bankers in charge….aren’t we all just living and dying for what the central banks do?”
Bankers Declare U.S. & Europe Conquered
http://www.infowars.com/bankers-declare-u-s-europe-conquered/
The regulators, the politicians, the banksters, the governments are all in this together, so good luck with getting the demands of arrests and jail time met any time soon.
Roseann
10:22 am on Friday, July 20, 2012
Ninety Miles An Hour Down a Dead End Street
Posted by Ann Barnhardt - July 12, AD 2012 11:39 AM MST
"People are emailing asking what firm I recommend.
NONE.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
GET OUT.
The ENTIRE SYSTEM is totally, completely corrupt and therefore NO FIRM IS SAFE. Don't be stupid. Don't be obtuse. Snap yourself out of the Stockholm Syndrome that you are clearly stuck in. Get ALL MONEY out of the ENTIRE FINANCIAL SYSTEM, including stocks, bonds, retirement accounts, futures, EVERYTHING.
But what about . . .
What part of EVERYTHING are you not comprehending?
One. More. Time.
If you can't touch it, if it isn't physically on your property such that you can stand in front of it with an assault rifle and PHYSICALLY defend it, you don't own it, and it could be confiscated/stolen from you at any time, if it ever actually existed at all. "
http://barnhardt.biz/
What she said.
Jason
10:37 am on Friday, July 20, 2012
Watch out Roseann....linking to the evil zerohedge and infowars...you are asking for it...
Roseann
10:46 am on Friday, July 20, 2012
Be afraid, be very afraid. But Barnhardt is right.
www.zerohedge.com
REFRESH
Roseann
10:53 am on Friday, July 20, 2012
What Bernanke Is Likely To Do—And Why You Should Be Worried
Read more: http://brucekrasting.blogspot.com/2012/07/bernanke-post-schumer-gaff.html#ixzz21B8FwHCO
www.businessinsider.com
www.maxkeiser.com