August 07, 2012

Let Them Fail

In fact, why don't we campaign to have them shut down?

In almost any other industry malpractice of this magnitude would be severely punished so why is banking given a second, or third, or twenty-seventh chance?

Greed is good, right? Gordon Gecko told us that in the eighties. It seems that several financial icons took that to mean "Do whatever thou must, but make sure thee reports a profit".

And so they did.

Standard Chartered is the latest to show us how low banking has sunk. See the full story here

HSBC laundered drug money and all manner of low-end nastiness flowed through their books. See that story here

And then there was good old Barclays and that LIBOR rigging. Here's the latest on that story

Three huge names in the banking world and they are no better than common thieves. I know that many of us were aware that banks are not the good guys. They haven't been our pals for decades. They exist only to make money, but some of us thought that they were trustworthy, deserving of some respect, but that image is forever tarnished. We may as well go back to cash. Who knows what they did with our money? Actually, scratch that. For years I have been saying that once your money is in your account at their bank, ownership is transferred. The money is no longer yours. It belongs to them. If you don't believe that, pop down to your local branch and ask them for all of (what you believe is) your money. If you have more than their daily withdrawal limit in your account you are going to leave disappointed.

I know why they do it. There are three reasons: growth, growth, and growth. But the growth needs to be sustainable. It needs to be logical, and, in an ideal world, it needs to be lawful. It seems to me that these three banks forgot completely ignored those basic rules. They will be fined but the shameful thing is that a) the fines will amount to whatever is in the petty-cash tin at the time and b) those fines will be recovered in the fullness of time. Brace yourselves: these monies will be clawed back from YOU. Suddenly, banking regulators (never fear that they are all in this together) will announce that the era of "free" banking is over. Charges will start to appear on your statement and if you tally them up, they will magically be enough to pay their fines with possibly a bit left over to chuck into the bonus pot.

Greed is good. Wars, for that matter, are even gooder. Have a look at this graphic, and when you understand it, stop wondering why we are always at war with Eastasia:








Blowing people to bits is lucrative business.










We live in a nasty world. Those we trusted have become the untrustworthy. Those that once traded with honour have become dishonourable. Those who were meant to remain unblemished have become forever stained.

But will they be shut down? Nope.

Will anyone go to gaol? Absolutely not.

This is crime at the most senior levels of the banking industry but just watch: these clowns will slink out of the back door with millions in severance pay. And within days or weeks, they will turn up at other banks as directors and senior officers. The banks themselves will get over this latest "blip" and carry on forever.

Why?

Because we will continue to use them. It's too much trouble to find a decent bank (if such a thing exists) and by continuing to patronise them, nothing will change.

We are our own worst enemy.

CR.

16 comments:

Anonymous said...

We all know when you rob a bank you go to prison.
When a bank robs you they get huge bonuses, bail outs and all paid by the taxpayer. Mind you, the cuntsertatives have backhanders off them.

Captain Ranty said...

Yep.

I said the same thing on Twitter: these fuckers are protected. They all hang out at the same clubs.

Why would they penalise each other?

All equal under the law?

My arse.

CR.

Sackerson said...

Shouldn't it be "reportest"? Actually no, "report"...

But yes.

Unless you take the view of so many journalists: "Haven't they suffered enough"?

Captain Ranty said...

Sacky,

There has been no "suffering".

Just mild embarrassment at a few bad headlines. There is no remorse, no real desire to change behaviour.

They got caught, and I bet there were a few memos flying around to the effect of "Don't get caught again, dickheads".

CR.

Sackerson said...

Agreed. I struggle to find any hint of suffering, apart from the odd ruinmeister (e.g. Fred Goodwin, who had to get along - starting at age 49 - on a pension 10x that of a teacher's salary). Poor, poor man.

Why ever were the rest of us honest and competent?

Furor Teutonicus said...

XX They haven't been our pals for decades. They exist only to make money, XX

GOSH! How fucking EVIL of them!

Basically so fucking WHAT?

You want them to run like a bastarding charity, or something?

Sackerson said...

Frugally and honestly, would be a good start. Also not involved in gambling with money entrusted to them by depositors.

Anyhow, I'm not sure about the way many charities are run, either.

Captain Ranty said...

FT,

I fully expect every business to make a profit.

I draw the line when it involves drug money laundering, human trafficking, helping lunatic regimes or rigging the lending rate.

Pardon fucking me for having some morals.

CR.

Anonymous said...

Decades!!! foookin hell Cap'n Its a bit longer than that.

HSBC for instance aren't new to drug money, they, along with the Marine Midland Bank (Boston)were the main clearing houses for the proceeds of the opium wars. also laundered drug money (heroin if memory serves) for the CIA During Vietnam.

Nothing we are seeing here is new, not by a long shot its how the 'shadow' banking industry works always has. What is new, utterly inexcusable, pathetic and depressing is the lack of reaction from joe public I know I should be used to it by now. :(

Lets face it in just the 3 cases you highlight (tip o the berg IMHO) is evidence that the higher echelons of the financial industry are laced with conspiracy and criminality with a twist of psychopathy to boot. The one single system that effects every single man woman & child on the planet is full o fucking larceny!

Brilliant!

Many people have been saying this for some time and now there's some unsuppressed evidence, how do people react?

They appear to just want to wave their flags some more. Goooo Jennis! *headmeetsdesk* ....

A nation infected with willful ignorance and suffering from what I can only describe as mass induced stockholm syndrome.

CM

yardarm said...

Banks are not just banks: they are global finance engines; trading, brokering, whatever. They are integral components of the City, which in turn is a major part of the global finance community. A parasite with no allegiance to or respect for its host organism

Politicians are clerks hired by the City to administer the geopolitical area adjoining the City, or Britain as it`s called. They ensure austerity is served by us, to ensure the money riot continues in the City or Wall Street.

As a PR sop a few senior dosh jugglers like Diamond or Goodwin are deprived of access to their beloved desks but on no account is any meaningful punishment meted out to the suit wearing financial terrorists. The servants cannot be allowed to punish the masters.

Anonymous said...

Sterling rant, Captain. (Pardon the pun.)

Let us not forget what was attributed to Josiah Stamp:

"Banking was conceived in iniquity and was born in sin. The bankers own the earth. Take it away from them, but leave them the power to create money, and with the flick of the pen they will create enough deposits to buy it back again. However, take away from them the power to create money and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money."

Whether he did or did not say that, it is true nonetheless.

Read these for a theory as to why people get bashed for taking these parasites on:

http://one-heaven.org/canons/positive_law/article/260.html
http://one-heaven.org/canons/positive_law/article/328.html

Lest we also believe that the rigmarole over hearings/committees and other rubbish is proof of Imminent Mass Arrests(TM) or the next "wait for the white hats to save you" bollocks, it could be argued that such “court of public opinion” theatrics (amongst others) were wholly foreseen:

"We must proceed with caution and guard every move made, for the lower order of people are already showing signs of restless commotion. Prudence will therefore show a policy of apparently yielding to the popular will until our plans are so far consummated that we can declare our designs without fear of any organized resistance." (Bankers' Manifesto; 'tis equally true, whether or not the manifesto is.)

"And within days or weeks, they will turn up at other banks as directors and senior officers."

MSM says Diamond was apparently going to be Treasury Secretary in a possible RomneyShambles future. He certainly has the required qualifications.

Actual pressure is only exerted on such people, even CFR-lifers like Diamond, if it serves the higher purpose; the focus on the mythical 1% serves this also, and the actual 0.00001% or whatever are not mentioned.

"Blowing people to bits is lucrative business"

Indeed; I am reminded of, amongst others, The International:

"The IBBC is a bank, their objective isn’t to control the conflict, it’s to control the debt that the conflict produces. You see the real value of a conflict, the true value, is in the debt that it creates. You control the debt, you control everything. You find this upsetting, yes? But this is the very essence of the banking industry, to make us all, whether we be nations, or individuals, slaves to debt.”

Public notice... ?

More interesting is that five of those exporters are the permanent members of the UNSC. Funny how that works, innit? ;-)

Regards

TSL

Anonymous said...

Cap'n,

What you will find interesting is Homeland security is buying up lots of ammo and I mean lots, including banned in warfare hollow point bullets.
Now people will say it's because they need it for the wars in the middle east but homeland security deals with HOME not abroad. In other words they're getting ready to start whacking Americans in the not too distant future. Martial law is about to happen in the USA. The film 'The Shield' with Denzel Washington and Bruce Willis was predictive programming.

regards

Harbinger

Anonymous said...

Link: http://www.naturalnews.com/035649_DHS_ammunition_domestic_war.html

regards

Harbinger

Anonymous said...

... and here is a somewhat on topic video:

http://www.youtube.com/v/pKUHw5YLY4g

A guy in Los Angeles arrested (and charged) for chalking on the pavement in front of Chase Bank.

count the number of coppers required to nick him!

diasan

Span Ows said...

Hey those 6 are also in the top 8 of the Olympic medal table: another is Italy, 9th in the arms table)

Coincidence?

;-)

Anonymous said...

Written by somone far smarter than me.
Have a good day everyone!

http://landdestroyer.blogspot.com/2012/04/amnesty-international-propaganda.html