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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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Money Laundering With Actual Soap

money_laundering

The moment money launderers get lazy is the moment they get caught. Such is the case with two men who allegedly decided that transferring a lump sum of $9.7 million to buy 10 million bars of soap wouldn’t turn any heads.

Late Thursday, Costa Rican investigators raided the office (Spanish link) of

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For Crap’s Sake: Queen to get a 5% Pay Raise

The Queen is to receive an inflation-busting 5 per cent ‘pay rise’ next year, giving her an annual income of £37.9million.

Palace officials admit that the timing of the announcement, which coincides with yet another round of Government belt-tightening, is ‘not ideal’.

But they insist that the country still boasts a ‘value for money monarchy’

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Pirate Bay Co-Founder Sentenced to 2 Years Jail

Gottfrid Svartholm Warg, the co-founder of data sharing site The Pirate Bay, has been sentenced to two years in jail for hacking charges and illegal money transfers. Reuters quoted the Nacka district court saying “The hacking has been very extensive and technically advanced… The attacker has affected very sensitive systems.”

 

Photographed above Gottfrid

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Latest Outstanding Waste of Money for Pentagon Toys

‘Noise zones’ are being used to drive a money-soaked scheme for rich commercial developers, while putting thousands of families in affordable homes at risk.

Is the Vermont Air National Guard being used for corrupt purposes having nothing to do with its military mission? The answer is yes. Big time. And for big money.

F-35b

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HSBC: Double Standard Drug War

money_laundering

Matt Taibbi: ‘Outrageous HSBC Settlement Proves The Drug War Is A Joke’

Caption this photo (in comments)…

By Matt Taibbi

Rolling Stone

If you’ve ever been arrested on a drug charge, if you’ve ever spent even a day in

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Peter Schiff: Bubble Economy Will Implode

stumbling-world-economy

Yesterday, on CNBC’s Squawk Box, Peter Schiff explained

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CIA Paying High Price for Bribe Operations

On Monday, a story revealed that the CIA has been funnelling tens of millions of dollars to Afghan President Hamid Karzai. The cash payments – delivered to his office every month – arrived in suitcases, backpacks and plastic bags, and were meant to buy the mercurial leader’s loyalty. But according to the Times,

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CIA Bribing Karzai with Bags of Cash…Literally

KABUL, Afghanistan — For more than a decade, wads of American dollars packed into suitcases, backpacks and, on occasion, plastic shopping bags have been dropped off every month or so at the offices of Afghanistan’s president — courtesy of the Central Intelligence Agency.

All told, tens of millions

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Elites Shocked you care so Much about Social Security and Medicare

The powerful and wealthy elites who run this country are shocked that not everyone is jumping on their bandwagon to cut Social Security and Medicare benefits. They view these benefits as abstractions. After all, if you are worth millions, social insurance programs aren’t going to matter very much to you.

Assets of the typical

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Could Your Money be Confiscated Like Cyprus, Apparently So

money pit

Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the

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Barclays Showers 9 Executives with 59 Million Dollars

Barclays’ investment bank chief has been awarded shares worth £17.5m in long-term bonuses – and has sold them all.

The bank said the shares given to Rich Ricci were an accumulation of remuneration over a number of years.

Shares worth a total of £39m were given to nine executives.

Chief executive Antony Jenkins,

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Kim Jong Un’s Slush Fund Located by Authorities

South Korean and U.S. authorities have found dozens of accounts presumed to belong to North Korean leader Kim Jong-un in several banks in Shanghai and other parts of China. They contain hundreds of millions of dollars.

Yet for some reason the accounts were excluded from financial sanctions under the new UN Security Council

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What Happened to the Haiti Relief Money?

haiti

After a devastating earthquake hit Haiti in 2010, governments and foundations from around the world pledged more than $9 billion to help get the country back on its feet.

Only a fraction of the money ever made it. And Haiti’s President Michel Martelly says the funds aren’t “showing results.”

Roughly 350,000 people still

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Bernanke Policy Causes Fed to Expect $500 Billion Loss

cash-thrower-spanky

Economists predict that the US Federal Reserve could lose half a trillion dollars in just three years thanks to policies enacted by the central bank under Chairman Ben Bernanke.

A study conducted by investment analysts at New York City’s MSCI Inc. suggests that Mr. Bernanke’s efforts to keep the floundering economy in tact on

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Sequestration: The Ship That Won’t Stop Costing

littoral ship

As sequestration hysteria grips Washington, top uniformed officials at the Pentagon have joined Defense Secretary Leon Panetta in warning that across-the-board spending cuts due to take effect on March 1 will cripple the American military and endanger the effectiveness of soldiers, sailors, and pilots.

General Ray Odierno, the Army’s chief of

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93% of all new income generated between 2009 & 2010 went to the top 1%

moneybags

 

Let me introduce the essential video above with a tweet from Sen. Bernie Sanders yesterday: “93% of all new income generated between 2009 & 2010 went to the top 1% while the bottom 99% split the remaining 7%.

One of the most memorable moments in the History Channel’s rabidly pro-capitalist series, The Men

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Beyonce Concert Paid for with Poverty Aid Money

beyonce

SaharaReporters has uncovered a document indicating that a million dollars of Bayelsa State’s poverty alleviation fund was spent by then Governor Goodluck Jonathan on bringing American entertainers Beyonce and Jay Z to Nigeria in 2006.

In a letter stamped and signed by Bayelsa officials, N150 million (approximately a million dollars in 2006) was

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College Degrees Loose Clout

worthless college degree

The college degree is becoming the new high school diploma: the new minimum requirement, albeit an expensive one, for getting even the lowest-level job.

Consider the 45-person law firm of Busch, Slipakoff & Schuh here in Atlanta, a place that has seen tremendous growth in the college-educated population. Like other employers

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5 Outrageous Revelations on HSBC’s Drug Money Laundering

money_laundering

Matt Taibbi’s most recent Rolling Stonearticle unpacks one of last year’s most shocking bank cases in our era of “ Too Big to Jail.” In December, HSBC was punished with a $1.9 billion settlement on drug laundering charges, the largest in American history, yet only five weeks worth of profits for the world’s

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