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Major arrests are imminent, in regard to global bank fraud scandals
Photo credit: FBI New York
by Joseph Earnest August 8, 2012
Newscast Media HOUSTON, Texas—Every time a major event occurs across the world, and there is a deafening silence about the occurrence, it's a signal that a brewing storm is about to do major damage. Anyone who has been following the news cycle for the past eight months is aware of all the whistle blowers who have come forward, with relevant information about fraud and misconduct in the banking industry and within corporations. No arrests are being made so far. CEOs are simply resigning.
According to the Daily Mail, for example, it has been alleged that the world's largest banks have been fraudulently fixing interest rates around the world for at least the past decade, if not for a much longer period of time. The fraud was uncovered when Barclay's Bank in London was discovered to have been submitting false figures to the LIBOR to improve their trading position. By manipulating the LIBOR, by raising or lowering it, banks allegedly could make their balance sheets appear healthier than they were, while consumers and members of the public apparently paid the shortfall.
Some news outlets have reported CEO resignations, yet only these CEOs know how deep the fraud runs, and sooner or later arrests will be made. I will give a few examples in this below:
Wall Street Journal reported the resignation of Barclays CEO here. (pop-up)
USA Today reported Omnicare resignation in this article. (pop-up)
Business Week - Libor scandal results in first CEO resignation. (pop-up)
These are just a few of over 300 resignations by CEOs that have happened since the beginning of the year, that we have heard of. Many are quietly changing their professions and moving to Third World countries to escape any prosecution.
Already, there are sixteen (16) banks that are under investigation, and every industry insider with connections to these banks is nervous. Here in Houston, people are familiar with the ENRON scandals and Stanford Financial. They all started out the same way, but eventually arrests were made and the culprits were prosecuted. The sixteen banks being investigated on a global scale in regard to fraud are: Bank of America, Lloyds, Credit Suisse, UBS, LLOYDS Bank Limited, Rabobank, RBC (Royal Bank of Canada), HSBC, Deutsche Bank, CITI, Royal Bank of Scotland, Bank of Tokyo-Mitsubishi, Norinchuckin, Barclays, JP Morgan, and West LB. The details are here on Yahoo Finance. (pop-up)
Most people will look at the list and shrug it off because society has been jaded by corruption of the politicians and that judicial system, and seem to have lost faith in the justice system. However, there is a younger generation, mostly Generation-X, that is unrelenting in fighting injustices. This is the generation that is fearless, because they saw how complacent their predecessors were, and want to make a difference. They are not image-conscious or worried about building a reputation, because they don't have one. When they were younger, the games they played weren't regular games...they were edgy. They skateboarded on rails instead of flat surfaces; they did air flips with their bikes instead of riding on bike trails; they went rock climbing, instead of taking photos of the rocks; they even invented a whole new sport called "X-Games" named after their generation
This generation (x) did not grow up on social networks, they were out there meeting people and making friends the old fashioned way. They knew how to communicate their ideas, share stories about the latest stunts they had discovered, and now they are grown men and women. When they told their parents they wanted to be professional skateboarders or bike riders, their parents said: "Learn a trade." To find a trade they did, and now they are in their thirties and forties. These are the ones investigating behind the scenes and uncovering the corruption in society. These warriors have never lost their childhood fearlessness exhibited in the outdoor games they invented.
They work for the SEC, the FBI, the judicial system, the media, the military, local law enforcement. They are computer programmers, researchers, but most of all...they are patriots. They will not sit on their hands and watch society decay. These people who were once told riding bikes or skateboards could never make a difference in society, are now the ones filing lawsuits on behalf of the United States government. Charging fraudsters for their fraudulent schemes, on behalf of the SEC. They are conducting fearless investigative journalism, to expose the hidden truth. They are the SWAT Team and FBI agents who break down doors.
Some may currently be unemployed, but the fire within them is still ablaze, and cannot be extinguished. These young men aren't worried about "fitting in" nor do their female counterparts suffer from a "Diva complex", because they know they'll never fit in, since they are trail blazers and not followers. They believe in letting the chips fall where they may. They are the stones that builders once rejected as worthless, but have turned out to be the most important stones in correcting a corrupt society.
If you think the fraudulent corporate perpetrators will never face justice, take a look at this list of fraudsters who committed fraud on a global scale and thought they would get away with it. Don't be fooled by the silence before the storm, it's only a matter of time. Add Comments>>
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