The banks are crumbling one by one

Barclays was reported to be cutting 12,000 jobs world wide. HSBC is being sued by high net worth clients for giving wrong trading advices. And several of the top world banks are paying compensations in the billions for the frauds they had committed. The game of fraudulent banking practices is coming to an end. They cannot keep on going and cooking their books of the billions of profits they are making. Very likely many banks are broke, bankrupt and waiting for another opportunity to beg for bail out. I hope Singapore is not going to say the Americans/West are doing it so it must be ok even when it is fraudulent or criminal, just like their scam stock market system.

Since the last financial meltdown, the banks are back where they were and even trading more aggressively to pay themselves crazy. Traditional banking businesses will not be able to chalk up that kind of obscene profits to pay obscene salaries and bonuses. Now that most of their high net worth clients are either bankrupt or lost too much money and losing faith in the banks and their gambling chits, the banks would have lesser sucker clients to cheat and would have to scale down their scam operations.

The suckers have no more money to be sucked by the bankers. The cooking of books with big profits would be exposed in due course. Those that are in really bad shape like Barclay would have to own up fast and cut their losses. Many banks are still putting on a front of making big money to justify paying big money to their top executives.

Who is there to check their accounts and the frauds they are hiding? Auditors? Hahahaha. Have faith and all will be fine. How could banks be making billions as they are claiming from interest rates? Where is the big money coming from? Selling gambling chits to sophisticated (meaning stupid) high net worth clients or trading against clients or selling lemons?

Wait for more retrenchments and for more bank busts and banks begging to be rescued.


Anonymous said...

But not Sinkie banks lah.

Sinkie banks lend money for people to buy property, so (bao chiar) sure make one.

As long as there are Sinkies and foreigners here, property prices will never collapse in Sinkieland.

Anonymous said...

You take their baits, your children and relatives will suffer?

Ⓜatilah $ingapura⚠️ said...

>> HSBC is being sued by high net worth clients for giving wrong trading advices.

Actually there is speculation around that HSBC is insolvent. They've been reported to limit cash withdrawals.

>> How could banks be making billions as they are claiming from interest rates?

Please lah. If trusted and established institutions like the British Banking Association, Bank of England and the surveillance-crazy UK government can't stop the Libor from being fucked like a $50 Geylang whore... you know there's a definite possibility that banks -- even under the watchful eye of the MAS -- could be getting up to interest rate nonsense.

I hope MAS becomes super kiasu at the point of being unreasonable. Gotta put these bankers' feet to the fire until they scream lah.

Singaporeans love their money very much. To the average Singaporean, money definitely plays a significant part of their "identity". Dun pray pray. If you fuck with a Singaporean's money, you might shorten your life.

Anonymous said...

Aiyah... again creating a molehill

I guarantee these banks still around eon after old fart kick the bucket

Knnccb.... cunt not tahan, ...

b said...

If the central banks play with interest rates, the banks will start to play with anything. All wanted to make a kill out of the people. The main culprit is actually the central bank aka Fed Res, IMF, all central banks that caused all the banking woes. It is a case of 上樑 不 正 下樑 歪. Just like pap and the gov.

b said...

If auditors can be trusted, pigs can fly. They are just there to perform a false assurance to the public that the books are in order. All of them are just out to make a kill.

Anonymous said...

You know, in EU they are talking about conficating deposits to cover the bank's insolvency, just like in Cyprus. In good times, when they made good money, the fraudsters were given or give themselves astronomical bonuses. In bad times, they change the rules and are going to swallow everything we entrusted them with. Will this happen in red dot? You never can guess!