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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (10636)

3/17/2023 10:27:10 AM

From: robert b furman

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Respond to of 13775

Hi El,

As Tom Keane whips up fear of the banking system blowing up in a systemic fashion, no one over at the very woke Bloomberg has the nerve to call Credit Suisse what it is: A bank of crooks who get caught at all the illegal crap a bank should never do, but they need fees you know (it's tough paying fines for bribery,extortion and tax cheating ya know). Shutter the whore house of global banking:




Lots of bank talk going on, as interest rates melt. Not much talk about this week being triple witching and trillions of options getting cleared out this week. The usual reworking of the previous week's range as options expire and stock gets assigned is being burried on the "panic" of some poorly managed banks going broke because free money ended. The big boogey man "Credit Suisse" is too big to fail and will be systemic. Credit Suisse is the biggest Gangster bank in the world. If you want to see a bank that breaks all the rules - These thugs have all the trophies (AND FINES). This bank needs to go bye bye, but no body wants to pick up the stench left behind from a bunch of the thugs who walk the halls. Put them in jail and throw away the key. A better world will be made! UNDERSTANDABLY SO! A few of their fine achievements: 1) The FCA also issued a £147m fine to Credit Suisse due to severe due diligence deficiencies linked to dealings with the Republic of Mozambique. The fine was due to financial crime due diligence failings related to loans worth $1.3bn, which Credit Suisse arranged for the Republic of Mozambique. According to the FCA, these loans, and a bond exchange, were tainted by corruption. The FCA agreed with Credit Suisse that it would forgive $20m of debt owed by the Republican of Mozambique as a result of the tainted loans. 2) Credit Suisse agrees to pay $475 million in fines over the ‘tuna bond’ affair in Mozambique. Investigators said more than $200 million was used to pay bribes and kickbacks to enrich foreign officials and former bankers at Credit Suisse. Credit Suisse will pay up to $475 million in fines to authorities in the United States and the United Kingdom to resolve criminal charges stemming from a foreign bribery investigation over $2 billion in deals that were meant to raise money for tuna fishing in Mozambique. As part of the global settlement, a division of the Swiss-based bank pleaded guilty on Tuesday in Brooklyn federal court to a charge of conspiracy to commit wire fraud. Credit Suisse entered the plea as part of a deferred prosecution agreement, in which federal prosecutors agreed to dismiss the charge after three years if the bank honors the deal. 3) Seven years after Credit Suisse promised federal prosecutors that it would stop helping rich Americans hide their wealth from tax collectors, a whistle-blower is contending that it continued to do just that, raising the possibility that the Swiss bank could face a fresh investigation and steep financial penalties. The allegations, laid out in documents sent last week to the Justice Department and the Internal Revenue Service, were made by a former Credit Suisse employee. The former employee said that the bank continued to hide assets for its clients long after it promised prosecutors it would close those accounts, according to copies of documents obtained by The New York Times. The whistle-blower, whose identity is unknown, is also contending that Credit Suisse lied to federal prosecutors, the Internal Revenue Service and members of Congress during their yearslong inquiry into how Swiss banks helped Americans defraud the government. Those investigations ultimately led to a settlement in May 2014 between Credit Suisse and federal prosecutors, in which the Swiss bank pleaded guilty to helping some of its American clients evade taxes by cloaking their wealth through offshore shell companies. Credit Suisse was fined a total of $2.6 billion, but avoided even higher fines because it vowed to the Justice Department and a Senate panel that it had not only stopped the practice, but that it would close “any and all accounts of recalcitrant account holders.” The bank also pledged to help the United States pursue other criminal investigations, according to the plea agreement. Credit Suisse’s guilty plea and steep fine were rare in 2014. It was the first time in more than two decades that a lender of its size had admitted wrongdoing in an American court. Bribes, tax cheats, huge fines. These guys not only should go broke, they should go to jail. DO NOT COLLECT $200.00 PAST GO! These aren't bankers , they're thugs and criminals. Stop the fear mongering, shut this illegal operation down and make a point about banking being a legal AND conservative business, where your money is safe and not bled away from committing illegal acts. No one wants to call this bank a mouse house full of a bunch of crooks. SHUT IT DOWN! JMHO Bob