These banks
are willing to pay the fines happily, for good reasons, as none of their CEOs
were found guilty or made accountable for the offences. The banks continue to
run as per normal, and so were the employments of the CEOs, all sitting tight
and happily as if nothing had happened. With such latitude, would they be back
to their monkey businesses again? There don’t seem to be any accountability or
responsibility. It is business as usual and the banks are going to continue to
make more monies laundering more money and selling fraudulent derivative
products.
Actually the
biggest winner of all the bank fraud is none other than the US Govt. They
pocketed US$150 billion practically doing nothing, and doing something very
legal. How many businesses can make this kind of profit with nearly zero cost?
Is there a conspiracy between the Federal Court/US Govt and the big banks, with
the banks allowed to do what is profitable but illegal but willing to pay the
fines and the courts to enrich the US Govt’s coffer, like I scratch your back
you scratch mine?
Who are the
big gainers and who are the big losers in this game of money laundering? What a
great game to play!
There don’t seem to be any accountability or responsibility.
ReplyDeleteRB
Why should there be, if the streets remain peaceful and there is democracy to elect the govt, even if the govt don’t seem to have any accountability or responsibility?
And if I were Hsien Loong, I would have done the same like the US govt too. Or even worse, since 70% will still vote for my incumbent ruling party, the PAP, as long as the opposition is not ready to be govt.
No responsibility and accountability ?
ReplyDeleteThen why the charges and the fines ?
Then why the charges and the fines ?
ReplyDeleteAnon 9:31 a.m.
I thought RB already give the reason as per below?
"Actually the biggest winner of all the bank fraud is none other than the US Govt. They pocketed US$150 billion practically doing nothing, and doing something very legal. How many businesses can make this kind of profit with nearly zero cost? Is there a conspiracy between the Federal Court/US Govt and the big banks, with the banks allowed to do what is profitable but illegal but willing to pay the fines and the courts to enrich the US Govt’s coffer, like I scratch your back you scratch mine?"
The US must learn from Sin.
ReplyDeleteEvery cent is clean and accounted for.
Sinkies are probably the most responsible beings on earth.
What have we learned?
ReplyDeleteActually and factually they are all involved in the scam - the big banks, the govt and it's appointed watchdogs themselves (where do these people, so called financial watchdogs come from, other then having worked inside the big banks themselves and who know how to cover their tracks and arses), the rating agencies and the higher ups working in the banks, who reap astronomical rewards years after year with performance bonuses. Who cares about getting caught with such bonuses to be made. After all, they just have to remain at scamming for a couple of years and retire filthy rich.
What have we learned? Nothing, absolutely nothing!
They are a gang of crooks, in the banks and in the government.
ReplyDelete“Three ways to get paid for your words:
ReplyDelete1) Lie to people who want to be lied to, and you’ll get rich.
2) Tell the truth to those who want the truth, and you’ll make a living.
3) Tell the truth to those who want to be lied to and you’ll go broke. ”
Jason Zweig
https://theirrelevantinvestor.wordpress.com/2015/11/11/do-people-want-to-be-fooled/?curator=thereformedbroker&utm_source=thereformedbroker
And what do 70% of Singaporeans do again?
One will always put in laws that will profit oneself. The people voted for lousy gov.
ReplyDelete