The Finance Industry – Who are the real criminals?

Big international banks have been caught for all the things that they were not allowed to do, money laundering, cheating on their clients, selling toxic products, using computers and algorithms to cheat traders, creating fictitious derivatives that are worthless to sell, like printing money, even selling the gold in Fort Knox and the vaults of some countries even have their national gold bullions emptied.
Some banks have been fined for cheating, violation and criminal offences. Some traders have been caught and found guilty. For the banks and traders cheating on the system for profit, they knew that their acts were criminal. They knew that when caught, they would pay the price for the infringements. Oops, I have to correct this statement. The CEOs of the banks would not be made to answer, would not be put behind bars. There have a special immunity from financial crimes.

It is fair game out there for traders to try to outsmart or cheat the system. Every profession you will have people doing that, to take advantage of the system, to find loopholes, to use privilege information, to profit from them, nothing new and nothing to crow about. But they know there are cheating and can be caught. They are not above the law.

What is bad, is the ultimate crime when regulators and govt who are supposed to be regulating and approving financial system to condone or allow and approve unfair practices or systems to operate legally. How can govt and regulators knowing that a practice or system is wrong, unfair, cheat on the innocents and allowed it to be part of the system? This is the ultimate crime, when the real criminals are the govt and the regulators. And the same govt and regulators would go around talking about ethics, honesty, fair practices and not doing anything that is criminal. Just look at the financial system in the USA and the West and you will get what I mean. It is simply operated by crooks with govt and regulators backing.

Singapore is an exception. Trust me. I just cannot find any faults or flaws in our system. If you don’t trust me, you must trust the priests and monks and the highly moral and upright super talents in charge.

Welcome to the 21st Century of hypocrisy at the highest level when the crooks and criminals are in charge.


Virgo49 said...

Wah Mr RB, No comments till now at 1716 hours.

Must be a very cheem subject or no one dares to antagonize the authorities lest call to eat or tau png!!

Aiya, the elites are in cahoots with these jokers in the finance industry to churn and turn the so called capitalist economy.

So think they punish their own kind??

Just a slap on the wrists and lets begin again.

If not how to churn and turn the economy again.

patriot said...

In most cuntries, the Political Leaders and Business Leaders
work hand in hand.