The Unrepentant and Unreformed Bankers

The Unrepentant and Unreformed Bankers

Money laundering. Price fixing. Bid rigging. Securities fraud. Talking about the mob? No, unfortunately. Wall Street.

These days, the business sections of newspapers read like rap sheets. GE Capital, JPMorgan Chase, UBS, Wells Fargo and Bank of America tied to a bid-rigging scheme to bilk cities and towns out of interest earnings. ING Direct, HSBC and Standard Chartered Bank facing charges of money laundering. Barclays caught manipulating a key interest rate, costing savers and investors dearly, with a raft of other big banks also under investigation. Not to speak of the unprecedented wrongdoing that precipitated the financial crisis of 2008.

Evidence gathered by the Financial Crisis Inquiry Commission clearly demonstrated that the financial crisis was avoidable and due, in no small part, to recklessness and ethical breaches on Wall Street. Yet, it’s clear that the unrepentant and the unreformed are still all too present within our banking system.

A June survey of 500 senior financial services executives in the United States and Britain turned up stunning results. Some 24 percent said that they believed that financial services professionals may need to engage in illegal or unethical conduct to succeed, 26 percent said that they had observed or had firsthand knowledge of wrongdoing in the workplace, and 16 percent said they would engage in insider trading if they could get away with it.

Rest here…


5 Responses to “The Unrepentant and Unreformed Bankers”
  1. marilyn lane says:

    Last night I was listening to Coast to Coast and they were talking about “EVIL”

    Evil people have no conscience- that could be almost every Banker, Judge and most Attorneys

  2. D Spriggs says:

    They had to put Capone in prison, or his crimes would have never stopped. But we do not have enough prisons to hold all these banksters? I say we just kick them out of this country, take the money they stole from the
    homeowners, retiress, stock holders, and others, and give it divided up ,to the people of this country, or go to prison. I am sure they will leave and destroy whatever country they decide to invade and take over their financial system, so they can steal their money. Crooks will always be crooks.

  3. chitown2020 says:

    CNBC’s Larry Kudlow tonight said some believe Rahm Emanuel is running the White House through Valerie Jarrett. No one gets to Obama, not even the bankers except through her.

  4. qny1 says:

    If we want things to change, we need to vote for Dr. Ron Paul in November. Just write his name on the ballot. Obama and Romney are in the banks’ pockets and will not do anything for us. Those that complain and don’t vote for Dr. Paul, you get what you deserve.

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