Control fraud occurs when a trusted person in a high position of responsibility in a company, corporation, or state subverts the organization and engages in extensive fraud for personal gain. Wikipeadia Today between 2-4 pm NZ time Vinny Eastwood will be interviewing William “Bill” Black. I will be joining Vinny in the second hour to […]
Tag Archives: Fraud
Dr Paul Craig Roberts (born April 3, 1939) is an American economist, author and blogger.[1] He served for one year as an Assistant Secretary of the Treasury for Economic Policy in the Reagan administration. He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service. Wikipedia I […]
Max Keiser, TV host of the Keiser report has never made a secret of his criminal activities on Wall street. Why would he? Everybody else did it and it was the business model on which Wall street was based right from the start. Here is Max Keiser himself, talking at the Erasmus university in Rotterdam […]
“Investment research is just one of the many powerful tools we will make available to self-directed investors to help them to invest with intelligence.” E. L. Goldberg. With all the scandals about HSBC erupting I thought I’d do a check to see if Merrill Lynch and HSBC had any dealings with each other. Merrill Lynch […]
“Geoff Massam, a New Zealander then running the IT department of Merrill Lynch’s FX business now working for Deutsche bank in Connecticut, remembers how John Key would be on the phone to the governor of the New Zealand reserve bank Don Brash…. he was talking to people like that all the time.” Unabridged Unauthorised biography, […]
When you go the bank for a loan, most people think they are borrowing other people’s money, money that those other people have deposited with the bank after working hard and saving it. So paying interest for the privilege of using someone else’s money seems fair. But as this Bank of England article says, “the […]
Predictably Kiwi economists, which I count amongst the worlds most ignorant, and NZ’s Finance minister Stephen Joyce tried to downplay Jesse Colombo’s list of 12 clear reasons why the “Rockstar” economy is in an unsustainable bubble. I give you an interview with Naomi Prins who just published a book called “All the President’s bankers” about […]
A couple of days ago HSBC chief economist for Australia and New Zealand Paul Bloxham told us that NZ’s economy was poised to grow dramatically in 2014 and would be a veritable Economic “Rock star”! Here are some pointers as to why you won’t feel the difference other than that you will feel poorer and […]
Here Max Keiser and Stacey Herbert explain why the credit default swap was a bad idea and those who were forced to buy them where set up to fail in order to rob them of their businesses and here in New Zealand where it emerged that farmers had been “advised” to buy those same Default […]
John Key thinks that spending $9 million on a National referendum of Asset sales is a waste of money. He thinks that because first of all, it’s all just about sending a signal and all our assets will be sold before the referendum anyway. John Key was elected on the sales pitch that he was […]
“Just, as Drummer (then-CEO David Drumm) would say, ‘picked it out of my arse’.” Head of Capital Markets, Anglo Irish bank John Bowe. 2008
Yeah and we’ll be saying ‘Yeah , because, a stress because HBOS were fucking sold and Lehmans went bust and fucking Bank of America fucking took over Merrills and other fucking non-normal things happened, you cunt’. David Drumm, the Chief Executive at Anglo Irish bank at the time of the crisis. (2008)
And than all shit hit the fan and I said: “Right, I’m out of here”. John Key, Upon the Bankers trust bank imploding after they were caught selling fraudulent Derivatives to, amongst others, Proctor and Gamble Inc (1995)
The problem the Greek elite have is that if they are not seen to be doing anything against the rampant corruption so prevalent amongst them it could very well end with the Guillotine for all of them. So last week the ex-mayor of the second biggest city disappeared to jail for life for embezzling $17 […]
Scores of bankers have failed in a bid to prevent their names being revealed during preliminary hearings of a High Court case centred on the rigging of a lending rate by Barclays staff. More than 100 employees or former employees of Barclays wanted their identities kept secret during pre-trial hearings in London on Monday. But […]
No Kidding! The financial crisis has been as economically devastating as a world war and may still be a burden on “our grandchildren”, a top Bank of England official has said. Andy Haldane, the Bank’s executive director for financial stability, added that public anger at the banks was fully justified and that pay in the […]
Echo’s of Enron! Emails and phone messages between foul-mouthed Barclays traders in New York reveal how they bragged about rigging energy prices in America to make huge profits. Critics yesterday said the expletive-ridden correspondence provides further evidence of the ‘rotten culture of casino banking’ that built up under disgraced former boss Bob Diamond. The bank […]
As more and more of us begin to understand the grand scam that is the banking world here are what is happening to some of the top banksters and it seems they are getting ready to ramp up the scam a notch even though some of them are in jail. First of all there was […]
Updated with correct link! If you are or know a New Zealand Farmer who lost his/her farm as the result of the Derivatives sold to him you might want to watch this and give the link to your farming colleagues! The first half lays out why the selling of these fraudulent instruments and the subsequent […]
Update: received a photo of a bill! News is beginning to reach me that Auckland residents are receiving bills for water of around a $100 a month. They are receiving these from a company called Watercare. I would like to have a copy of the contract the receiver of these bills has signed with this […]
63% of fraud is committed by the boss. That is according to research by accountants KPMG. If this is true it is simple to extrapolate that to our society in general. If powerful insiders are the most prone to corruption simply because they are in a position of power and are able to get away […]
A very interesting article on the LIBOR scam. I don’t subscribe to their assertion that a Cartel formed under the noses of the CEO’s of the too big to fail banks without them knowing. I would even go as far as asserting that the real cartel of bankers, the ones who pushed the Reserve bank […]
Update: As I was writing this I realised that if we accept that some of the big players in the financial world were involved in insider trading just before the events of 9/11 making money of the events of 9/11 and if we accept that LIBOR was manipulated from as early as mid 2004 with […]
When you or I get caught doing something illegal such as smoke pot or burgling someone else’s house we probably end up in jail which in the US means having to do slave labour in a privately owned jail. In China if you get caught scamming the banking system as a banker, even a rich […]
Update on the developing European banking crisis! Fitch has downgraded Greece again and Moody only downgraded 16 Spanish banks after it had announced it would downgrade 21 banks. And Jamie Dimon the CEO of JP Morgan has been invited (What is wrong with old fashioned arrests and police investigations I wonder) to testify before the […]
Now that people are catching on to what a nasty piece of work Johnny “Derivatives” Key really is I thought I’d repost Matt Taibi’s excellent essay on the Bank of America which holds most of his wealth making him the most compromised Prime minister this country has ever seen. At least Bank of America got […]
Here is what Bucket shop means for those who don’t know. And so the spirit of Mark Pittman lives on. Bloomberg, which last year sued the Fed in a landmark FOIA case, and won (a decision which is being appealed by the kleptocrats but not the Fed), has decided to go transatlantic, and is now […]
According to the Wall Street Journal, the Greek threshold for “successful” CAC passage is now expected to be just 66%, far below the 95% discussed yesterday. Says the WSJ: “The Greek government is aiming for a minimum participation of least two-thirds of bond holders in a planned debt exchange, a finance ministry official said Tuesday, […]
Too late, too little and after the damage is done! A RadioLive show hosted by the Prime Minister John Key prior to the election has been referred to the police for breaching the Broadcasting Act. The Electoral Commission confirmed this morning that it had referred the broadcaster to police. Key hosted the hour-long show on […]
From Zero hedge: The only quote worth noting from the just delivered speech by ECB executive board member José Manuel González-Páramo is the following: “We cannot completely delegate governance to financial markets. The euro area is the world’s second largest monetary area. It cannot depend solely on the opinions of ratings agencies and markets. It […]
Now there’s a concept. You rip people off you get the death penalty! That would sort the banks out real quick wouldn’t it? A real estate tycoon in Lishui, Zhejiang Province, has received a death sentence for illegally raising 5.5 billion yuan ($800 million) from the public, reported the Procuratorial Daily on Monday. Ji Wenhua, […]
