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Major Banks Still at Risk for Money Laundering

money_laundering

Britain’s major banks remain vulnerable to being used to fund terrorism and money laundering by criminal gangs, despite being fined billions of pounds in recent years for failing to crackdown on illegal financing.

 

Martin Wheatley, chief executive of the FCA, has warned that banks have still not done enough to

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“Too Big to Jail” Eric Holder Laid the Groundwork

big bank

Attorney General Has Been Lobbying for a Get-Out-Of-Jail Card for Big Banks and their Bosses for 14 Years

Everyone knows that Eric Holder – the head of the Department of Not-Much Justice – has said that the big banks are too big to

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NSA Chief Warns of Bank Hacks, Then, Chase Gets Hacked

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Gen. Keith Alexander, director of the National Security Agency, took the stand in front of the Senate Armed Services Committee on Tuesday and an ambitious expansion of the Pentagon’s Cyber Command. “We’ve seen the attacks on Wall Street over the last six months grow significantly,” Alexander told the senators, explaining that denial of

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Attention: Americans Need More Courage, Less Fear

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Cowardice Is Destroying America America Was Founded on Courage

For example, I’ve read a number of biographies of George Washington, who was actually a horriblegeneral. Washington’s early campaigns were disastrous, and the entire Revolutionary War was almost lost due to Washington’s early miscalculations (for example, his first major battle was fought from a

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Spanish Citizens Drawing Cash at Record Pace

Spanish consumers are pulling their cash out of banks at record levels, according to figures released on Tuesday.

Private sector deposits fell by nearly 5 percent in July to €1.509, the Telegraph reported, citing European Central Bank data, as public confidence in the banking system reached all-time lows amid a worsening economic situation.

The news

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Spain: Million People Protest in 80 Cities

At least 15 people have been arrested and around 40 injured in central Madrid after police used force to disperse hundreds of thousands of angry protesters that flooded the streets in outrage against the country’s latest austerity package.

­Over a million public employees, trade union members and fed-up citizens have taken to the streets

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Revelation of Rigged Market Involves 16 Major Banks

The Libor scandal, thus far focused on British-based Barclays bank, has revealed that global capitalism functions not as a free market, but as a rigged market controlled by contending groups of corporations, cartels and multi-billionaire speculators.

The sums involved in the manipulation of Libor (the London inter-bank lending rate) and its European equivalent, Euribor, are

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Banks Profit From Colombian Cocaine

While cocaine production ravages countries in Central America, consumers in the US and Europe are helping developed economies grow rich from the profits, a study claims

The vast profits made from drug production and trafficking are overwhelmingly reaped in rich “consuming” countries – principally across Europe and in the US – rather than war-torn “producing”

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Forclosure Documents Faked by US Banks

Major US banks systematically faked documents in order to speed up foreclosures for hundreds of thousands of homeowners, a mounting body of evidence shows. It appears likely that federal and state laws were broken in the process.

The scandal speaks both to the dimensions of the social crisis and the criminality of the big banks.

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Unemployed get Tapped for Cash

While posting impressive profits in the last two quarters – Wells Fargo’s $3.2 billion, Citigroup’s $3 billion and Chase’s $2.7 billion – U.S. banks have figured out a way to squeeze some extra dollars from those who can least afford it, the unemployed. Here’s how it works. In the past two years, states have been

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