The bankers in question took a leaf out of Martin Scorsese’s classic movie, Goodfellas, in which Ray Liotta’s Henry Hill and Paul Sorvino’s Paul “Paulie” Cicero take over a night club, the Bamboo Lounge, then loot it, abuse the owner’s credit and run it into the ground. Once the owner, Sonny, is unable to pay them anymore, they torch it for the insurance money. … Read More Mafiosi Bankers: What the HBOS Fraud Tells Us About the State of British Banking
While the death of the judge will likely not derail the country’s biggest ever graft probe, it will delay it, “handing valuable breathing space to President Michel Temer” who many have accused of being even more corrupt than his predecessor.… Read More Brazilians Stunned By Death Of Supreme Court Justice Ahead Of “Explosive Testimony”
“Just because something’s unconstitutional, doesn’t mean that any such unconstitutional activity will necessarily be prevented, precluded, or punished.”… Read More Bill Black: Trump Far More Interested in Business Deals than the Business of the Nation
On Sunday, the first day of the year, thousands of people all over the country marched on Pemex gas stations, blocked roads and picketed refineries, to register their rage at the government’s latest massive hike in gasoline and diesel prices. … Read More Shrinking Oil Giant Pemex Starts 2017 on Wrong Foot
No one denies that India has a serious corruption problem. But most experts agree that demonetization– especially as implemented since November 8— is not an effective way of addressing this problem.… Read More The Global War on Cash – India’s Demonetization Debacle
In the ultimate irony, big media is taking the word of a bank that faces fines billions of dollars of fines for engaging in serial deceptions.… Read More Did Big Media Run Fake Headlines on the Deutsche Bank “Settlement” ?
What connects two proposed gold mines, one in the high-altitude wetlands of Colombia and one in the Carpathian Mountains of Romania?… Read More When You Thought Trade Deals Could Not Get Any Worse — Enter Wall Street.
By Pam Martens and Russ Martens and cross-posted from Wall Street on Parade Donald Trump is increasingly looking like Wall Street’s back up plan in the event that the Wall Street Democrats didn’t triumph in the 2016 election. Trump has appointed two Goldman Sachs alumni and the current President of Goldman Sachs to top posts… Read More How Did a Nation Crippled by Wall Street Billionaires End Up With Them Running the Country?
A large part of the €360 billion of toxic loans putrefying on the balance sheets of Italy’s banks should never have been created at all and were a result of the widespread culture of corruption, political kickbacks, and other forms of fraud and abuse infecting Italy’s banking sector.… Read More Lest We Forget, Italy's Banking Crisis is Also a Huge Crime Scene
In two words: Goldman. Sachs. … Read More Bill Black: White Collar Crime Will Have a Field Day Under Trump
Trump is sending a loud and clear message to Americans: crime not only pays on Wall Street but it qualifies you to run the government of the United States. Instead of draining the swamp, Trump is simply restocking it.… Read More Restocking the Swamp: Goldman Sachs to Provide the Financial Brains (& Brawn) of the Trump Era