Money laundering, corruption, scandals, and other illegal and questionable practices go rampant in banks around the world at the expense of customers and shareholders and very little if anything is done about it. Now that is a sad commentary about the one institution we are all taught to trust. Without the ability to trust and to have faith in the Banking Industry, then there obviously is very little hope for any economic stability around the world and recovery of our ailing economy is a long way off in deed.
US Senator Carl Levin held hearings this week to bring the scandal and corruption of the banking industry to the surface. At the crux of the whole issue is what if anything is being done to control the Banks from engaging in illegal activity. Not much according to the Senators Committee. Money is being filtered into banks with their full knowledge from Mexican Drug Cartels, and laundered, Ponzi skims , various shades of illegal activity that was unheard of a mere few years ago are rampant and no one is held accountable. A few minor fines and terminations occur occasionally. but as for a full-scale sweep to rid the corruption from what is supposed to be a most trusted industry is not, is not even a passing thought.
When The United States economic crisis exploded just before President Bush left office mass deregulation took place to assure the cooperation of the banking industry, they apparently were given Cart-Blanch unaccountability. As a result they could get away with the ultimate in illegal activity. depositors watch helplessly as some banks go under and the depositor looses almost everything, and absolutely no one is held the least accountable. A full-scale scandal breaks open at the highest level of Chase Manhattan Bank, Billions are lost in out right stupid investments, and the CEO apologies and still has his job. He had to account for nothing. He apologizes and moves on as if nothing has happened. This is not just restricted to US Banks this is evident in major, well-known, so-called respected financial institutions all around the globe and no one, not even the CEO is in any way held accountable. Its business as usual in corporate America!
I have said before and I’ll say again there is a need for not only accountability but close monitoring of and regulation of financial industries around the United States. This Republican idea of De-Regulation is dangerous and is like giving a loaded gun to a three-year old and not expecting a disaster.
CEO’s should be held accountable. Enough of this government protecting some mega million hot-shot, just because of who he is! Get the FBI in tow, go up stairs to the Pent House Floor of the Bank in New York, walk in to this clowns office, notify him that he has been indicted, take him out the front door of the bank past the media, conveniency invited to watch the show, take the clown into a Federal Court Room, detain him as a high risk defendant, put him in a barred bare walled jail cell, feed him whatever everyone else gets for Breakfast, lunch and Dinner, try him, convict him, and lock him up for life. You do that a couple of times and they’ll get the message. No more Pre-Moddona Prisons, No more Gulf Course recesses, No more special meals, no more separate neat trim, little cell areas, no special treatment, no favors no nothing. Just life in prison, behind bars, 30 minutes outside each day, and then it’s off to work making licence Plates for those of us who know how to behave ourselves. And absolutely no regard for his family, all the money he has goes to the tax payer. Every single dime. He should have thought about the security of his family while he ripping off all those depositors out there.
#@%& If I pulled off half a stupid stunt like that I would be in Jail until I rotted away. They should too.
Enough said…….Thats all I have to say….. If I have to be accountable….So should they.
Have a good night and as usual……….God Bless America!