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  • FAILURES OF GOVERNMENT in foreclosure crisis

  • WHAT THE BANKS DID WRONG and how it affects our society

  • WHY NO CRIMINAL PROSECUTIONS AGAINST BANKS for the same acts that other scam artists have used — is the difference that it is the Banks who are claiming to be the victims?

  • WHAT ARE THE SOLUTIONS and who will benefit?

8 Responses

  1. Oh, and in case someone failed to mention it, Bnakfein has resigned as head of Goldman Sachs, effective in the summer. Kenya head of major bank has just resigned and so has Pakistan’s.

    The list is growing. Eventually, it will reach us…

  2. @Nora,

    3 examples in what…? 40 plus years? Blago is a nobody. Madoff wasn’t a government official and Nixon had it coming: what he pulled was really, really corrupt and he admitted to it eventually. Hard not to when you’re caught with your pants down… Still, ridiculously small number for such a large country.

    Volunteer to be a delegate for the 99-declaration. Or, at least, become a member. Until we all do, nothing much will change.

  3. @Enraged

    Nixon was forced to resign over the Watergate scandal, which many people believe was engineered to disgrace him and get him out of office because he refused alliegiance to the money masters. That was a decade when Americans still believed in our country, and were more wholesome in general, whereas now only money is valued, or the material things it can afford. Blagoivich was jailed for his shenanigans, and Madoff will never set foot outside of prison in his lifetime. There are prosecutions occasionally, but the people who truly need to be prosecuted have so much money that they can insulate themselves with bribes and threats. The banks ran the economy into the ditch for a reason, and it’s clear that reason was enslavement of the population so that’s got to be undone before we can go anywhere positive. They were successful in placing goons where they would do the most good for them–the regulatory agencies. It’s not an accident that their minions, who all worked at Goldman Sachs got installed in the very agencies that could bring them down, when the house of cards crashed.

  4. @E. Toile,

    I don’t agree. We’re dealing with different countries and different cultures: the kind of BS that goes on here doesn’t fly there. When did you ever see anyone resign a high government position in the US over corruption? Remember Alaska Steven? Not only didn’t he go to jail but he was allowed to run again and… he was re-elected. You won’t see that in Europe. You won’t see that in Asia (in China, they put them to death, for Pete’s sake! And in Japan, they’re supposed to commit suicide over the shame they brought on themselves, their family and their country).

    Here, we rewardt them.

    I shall keep seeing this list in progress as a great sign of times to come.

  5. @ Enraged, I don’t feel as “heartened” by these resignations as you do. Those positions will simply be filled with more drones who can walk their walk. Where does that leave us?

    The 99% Declaration – Let’s End This Now

  6. @Iwant

    Annecdotal. Part of the same M.O. but it’s coming to a halt, with or without the US’ cooperation. I hope it will be “with”. otherwise, it’s going to be really lonely on this continent.

    Notice that neither Canada nor Mexico are making the list. So, either they never participated or… they are so much into it that it hasn’t yet come out. I believe it is the former. In which case it will also become very uncomfortable, sandwiched between both…

  7. @ enraged, what about the folks in government who were forced to step down so a banker could take over and get the global financial policy in place before introducing a new currency.

  8. @Neil,

    I hope you will speaking about the US being the only country that keeps ignoring the problem and hiding it. The only country that refuses to face it and act. Once it is all said and done and justice has been rendered everywhere but here, we’re going to be so far behind th rest of the world that we will be done for good.

    Here is the list of all the recent resignations, worlwide. They are all tied to the greatest financial scandal ever visited upon humanity. Here, in the US, we keep protecting the culprits.

    All these resignations have appeared in the trade press, mainly, as individual stories. No mainstream media journalist, yet … and for obvious reasons, has attempted a pull together of all of this …. So we can make a start here:

    •1: ROMANIA ~ Romanian prime minister and cabinet resign en masse.
    •2: GERMANY ~ Embarrassment for Merkel as German president resigns in disgrace
    •3: SWITZERLAND ~ Bank chief resigns over £1.5bn rogue trader crisis.
    •4: CHINA ~ The top executives of two of China’s biggest banks resigned Friday.
    •5: INDIA ~ 22 out of 25 directors of top Indian bank, BDCCB, resign.
    •6: SWITZERLAND ~ Switzerland’s biggest bank said Yasuki Matsui resigns as chairman of the investment banking division in Japan
    •7: IRAN ~ Iran’s Bank Melli CEO resigns over biggest loan scam in Iran’s history.
    •8: SWITZERLAND ~ The Swiss National Bank chairman has resigned abruptly, bowing to a public uproar over private currency deals.
    •9: BRITAIN ~ Lloyds Head of Wholesale quits.
    •10: SPAIN ~ The head of operations in the Americas for Spain’s biggest bank Santander resigned on Wednesday.
    •11: ROME ~ Four priests charged in Vatican banking scandal.
    •12: INDIA ~ Tamilnad Mercantile Bank MD resigns
    •13: KUWAIT ~ The head of Kuwait’s central bank of more than 25 years has resigned, state media said Monday
    •14: NICARAGUA ~ Nicaragua’s Central Bank President Antenor Rosales quit amid differences with President Daniel Ortega
    •15: BRITAIN ~ Malcolm Hayday, CEO and one of the founders of Charity Bank, has decided to step down from the post this year.
    •16: GLOBAL ~ World Bank President Robert Zoellick said Wednesday he is stepping down
    •17: SLOVENIA ~ Slovenia’s Two Biggest Banks’ CEOs Step Down as Woes Mount.
    •18: SAUDI ARABIA ~ Saudi Hollandi Banks Managing Director Geoffrey Calvert has resigned
    •19: AUSTRALIA ~ Stephen Williams quits his role of leading Royal Bank of Scotland’s Australian arm.
    •20: RUSSIA ~ The head of supervision at Russia’s central bank has resigned after series of scandals & massive mismanagement
    •21: AUSTRALIA ~ Kevin Rudd resigns as Foreign Minister, condemns Julia Gillard’s silence (but may not be connected to banking scandal).
    •22: US: Two top Morgan Stanley investment bankers resigned today, increasing the pressure on Chief Executive Philip Purcell and raising questions about whether the securities firm can remain independent.
    •23: INDIA ~ Amitabh Chaturvedi quit as managing director and chief executive officer (CEO) of private sector lender Dhanlaxmi Bank Ltd on Monday
    •24: NEW ZEALAND central bank Governor Alan Bollard will quit in September
    •25: UK: Three senior investment Royal Bank of Scotland bankers were among the 16 individuals arrested last week as part of an investigation into allegations of tax evasion involving film financing schemes.
    •26: CARACAS — President Hugo Chavez lost one of his closest and oldest collaborators as Science and Technology Minister Jesse Chacon submitted his resignation after his brother was arrested in connection with the crisis in which state control has been imposed on six banks.
    •27: SWITZERLAND ~ The Swiss National Bank said Friday its council president, Hansueli Raggenbass, has decided to leave later this year
    •28: GHANA ~ Investment banker, Ken Ofori-Atta has stepped down as the Executive Chair of the Databank Group.
    •29. UK: Senior private banker resigns from Coutts.
    •30: FRANCE ~ Michel Péretié, head of Société Générale’s corporate and investment banking division, is leaving the French bank to pursue other opportunities
    •31: UK ~ CEO Nick Fletcher leaves private bank Saunderson House after 22 years with company and 15 years on board.

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