Search Results for: hsbc

Standard Chartered Is Outraged That It Is Treated Like A Criminal For Its Criminal Acts

By William K. Black After a decade of committing tens of thousands of felonies that the U.S. government believes helped fund terrorism and Iran’s development of nuclear weapons, having the great fortune of settling the cases without any senior officers … Continue reading

Roger Cohen’s Ode to Colonialism and Imperialism: Why is it “Insidious” to Want Justice for Banksters?

By William K. Black In another proof of our family rule that it is impossible to compete with unintentional self-parody, Roger Cohen has penned “The Great Unraveling.”  What makes the article perfect is that it brings together Cohen’s worst traits … Continue reading

TRUSTEE BANKS SUED FOR $250 BILLION

By L. Randall Wray Here’s another story in the continuing saga of Bankster fraud. As I’ve argued since 2008, it is likely that all—or nearly all–of the residential mortgage backed securities (RMBSs) are fraudulent. The Banksters engaged in fraud at … Continue reading

Kenneth Rogoff is an Even Worse Criminologist than Economist

By William K. Black Kenneth Rogoff, the creator of the fictional 90% budget deficit cliff, is back spreading new myths.  He has now ventured into white-collar criminology, without the benefit of any study of criminology.  The results are yet another … Continue reading

Why Does Refusing to Put Fraudulent Banks into Receivership Help the Economy?

By William K. Black Conservative economists love “creative destruction.” They can’t wait to “get their Schumpeter on” when a business fails and thousands of workers lose their jobs. There is no more “creative destruction” conceivable than when we put a … Continue reading

The Most Dishonest Number in the World: LIBOR

By William K. Black The FDIC has sued 16 of the largest banks in the world plus the British Bankers Association (BBA) alleging that they engaged in fraud and collusion to manipulate the London Inter-bank Offered Rate (LIBOR).  BBA called … Continue reading

Essays in Monetary Theory and Policy: On the Nature of Money (10)

By Brian Hartley* Modern banks are professional arbiters of financial IOUs secondary to that of the state or issuing authority. Central bank liabilities – reserves – form the most liquid and foundational instrument in the hierarchy of money, with intermediate … Continue reading

Assad Reveals He’s a Bank CEO: Obama Ends Threats, Bails Out Syria & Grants Immunity

By William K. Black I do not think the twin epidemics of mortgage loan origination fraud (appraisal and “liar’s” loans) and the various epidemics of post-origination fraud by financial institutions are comparable crimes to the use of chemical weapons.  The … Continue reading

Mueller: I Crippled FBI Effort v. White-Collar Crime, My Successor Will Make it Worse

By William K. Black (Cross posted at Benzinga.com) FBI Director Robert Mueller is taking his victory lap as he steps down after 12 years of service.  I have done three articles in a series that explains how the Mortgage Bankers … Continue reading

The Next Chair of the Federal Reserve Must be a Regulator

By Robert E. Prasch* If we go by the rumors circulating in the financial press, the Obama Administration is on the verge of selecting a proven failure – Lawrence Summers – to be the next Chair of the Federal Reserve System. … Continue reading