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"Correct me if I'm mistaken but did they not recently set up shop over here? Looking to get their hooks into our student loan market no doubt." Not sure to be honest. They only operate in 35 countries so it would make sense they'd expand. | |||
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"I might be mistaken but didn't I read that they actually defrauded customers of money as well" Well charging them for a bank account they didn't open is fraud! | |||
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"I might be mistaken but didn't I read that they actually defrauded customers of money as well Well charging them for a bank account they didn't open is fraud! " . Ahh yes I misread your original post  .
It's like I've been saying all along, the banking industry is more crooked than the cocaine industry....
I think the real question is how high up do these scandals go? | |||
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"I might be mistaken but didn't I read that they actually defrauded customers of money as well Well charging them for a bank account they didn't open is fraud! . Ahh yes I misread your original post .
It's like I've been saying all along, the banking industry is more crooked than the cocaine industry....
I think the real question is how high up do these scandals go?"The fish rots from the head | |||
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"Lessons should have been learned from the crash but they were not.Well not entirely true,it is that to many powerfull people do not want to change there ways as it is not in there interest." Are you suggesting that we bring back crucifixion as a form of punishment? | |||
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"Lessons should have been learned from the crash but they were not.Well not entirely true,it is that to many powerfull people do not want to change there ways as it is not in there interest. Are you suggesting that we bring back crucifixion as a form of punishment? " What has the bible got to do with this?I keep my answers brief,that does not mean they are not serious,the crash was down to Bill Clinton but I am probably losing you allready | |||
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"Lessons should have been learned from the crash but they were not.Well not entirely true,it is that to many powerfull people do not want to change there ways as it is not in there interest. Are you suggesting that we bring back crucifixion as a form of punishment? " Too good for bankers! | |||
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"Lessons should have been learned from the crash but they were not.Well not entirely true,it is that to many powerfull people do not want to change there ways as it is not in there interest. Are you suggesting that we bring back crucifixion as a form of punishment? What has the bible got to do with this?I keep my answers brief,that does not mean they are not serious,the crash was down to Bill Clinton but I am probably losing you allready" Crucifixion wasn't invented in or by the bible. I was actually agreeing with you that nothing had been learnt so maybe we need to ramp up the punishments a bit. If you want to talk about how Bill Clinton signed in the financial services modernization act which paved the way for the creation of credit default swaps without which the financial crash wouldn't have been possible, we can talk all day about that... | |||
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"Lessons should have been learned from the crash but they were not.Well not entirely true,it is that to many powerfull people do not want to change there ways as it is not in there interest. Are you suggesting that we bring back crucifixion as a form of punishment? Too good for bankers!" See some people have a sense of humor still  | |||
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"Lessons should have been learned from the crash but they were not.Well not entirely true,it is that to many powerfull people do not want to change there ways as it is not in there interest." They were (that's lessons), only they are not the ones that needed to be learned. The main lessons learned were that bankers can commit international multi trillion £ frauds and the politicians they have bought over the last 35 years will bail them out, ensure they don't lose their bonuses, make the victims of their frauds (us) pay for their crimes and protect them an their corporate shareholders from any personal criminal prosecutions. | |||
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"Lessons should have been learned from the crash but they were not.Well not entirely true,it is that to many powerfull people do not want to change there ways as it is not in there interest. They were (that's lessons), only they are not the ones that needed to be learned. The main lessons learned were that bankers can commit international multi trillion £ frauds and the politicians they have bought over the last 35 years will bail them out, ensure they don't lose their bonuses, make the victims of their frauds (us) pay for their crimes and protect them an their corporate shareholders from any personal criminal prosecutions." At least America had the balls to let some of those corrupt companies go to shit (proper capitalism). | |||
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"The world economy will never be truly regulated until the creation of money is controlled. There is a fascinating (2 hour) documentary about this called 97% owned and its available on online for free. If you checkout from around 43 minutes then everything is explained in the next 3 minutes. Ever since the gold standard was thrown out then banks could create money at will and the governments can have zero control over this. The regulators know this but they don't want to change economics for fear of causing a shift in the global landscape. It has to be done globally and every country on earth must participate... Well good luck with that! Yours truly Your fab banking guru" . The reason the gold standard was dropped is that you can't run an infinite economy on a finite resource, (as a matter of fact if you rounded up all the gold on planet earth you could only fill about 2 Olympic pools with it). So the fiat currency was brought in on the idea of commerce, when commerce is good, people borrow and borrowing creates money for the extra commerce and vice versa if commerce is shit....a reasonable idea for money creation based on economic output. . The real problem was the politicans failed to regulate the banks correctly who then just dreamt up ideas to create debt because hey pesto.... Profit!. . If you make it perfectly legal to rob from banks... You could expect people to err rob from banks. If you make it perfectly legal to create ridiculously complicated debt schemes that have no backing other than 0s and 1s on server that then make board members and high level workers wealthy beyond avarice.... Then you can't really be shocked when they do just that! Do I blame bankers for making a mint, no ,that's called capitalism. I hold politicans responsible for letting them do it | |||
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"I was by no way condoning the gold standard as boom and busy happened even with it, however not to the extent of today. You are completely right with regards to commercial banks creating money though, this is the problem and governments know it happens however they too profit from this and there in lies the problem. Similarly, the credit rating agencies are paid for by the banks and governments so they are in with them too. Let's not forget the auditors and accountants... " . Oh I wouldn't disagree with you on that, it's one big pool of corrupt cronyism. Fair market pricing went decades ago | |||
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"In the U.S., corporations (including banks) are effectively the 4th branch of government. It's the judiciary, the legislature, the executive, and corporate. Who helps write the laws regarding penalties and fines for tax evasion, fraud, and everything else a corporation deals with on a regular basis? It's the corporations themselves. Politicians don't have the brain power or the inclination to write (or even read) most of the bills they sign into law, so who do we think is writing them? Lawyers that work for major corporations, that's who. Am I surprised by Wells Fargo's actions? Hell no! Am I surprised by their punishment? Even less so. If we want this to stop, we need corporations and corporate money out of politics." did you see elizabeth warren absolutely eviserate the wells fargo ceo in the senate banking committee hearing yesterday... my god she was on the warpath and it was a thing of beauty.... | |||
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"In the U.S., corporations (including banks) are effectively the 4th branch of government. It's the judiciary, the legislature, the executive, and corporate. Who helps write the laws regarding penalties and fines for tax evasion, fraud, and everything else a corporation deals with on a regular basis? It's the corporations themselves. Politicians don't have the brain power or the inclination to write (or even read) most of the bills they sign into law, so who do we think is writing them? Lawyers that work for major corporations, that's who. Am I surprised by Wells Fargo's actions? Hell no! Am I surprised by their punishment? Even less so. If we want this to stop, we need corporations and corporate money out of politics. did you see elizabeth warren absolutely eviserate the wells fargo ceo in the senate banking committee hearing yesterday... my god she was on the warpath and it was a thing of beauty...." I love Elizabeth Warren. You have no idea how much I wish I could vote for her instead of Hillary Clinton.  | |||
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"In the U.S., corporations (including banks) are effectively the 4th branch of government. It's the judiciary, the legislature, the executive, and corporate. Who helps write the laws regarding penalties and fines for tax evasion, fraud, and everything else a corporation deals with on a regular basis? It's the corporations themselves. Politicians don't have the brain power or the inclination to write (or even read) most of the bills they sign into law, so who do we think is writing them? Lawyers that work for major corporations, that's who. Am I surprised by Wells Fargo's actions? Hell no! Am I surprised by their punishment? Even less so. If we want this to stop, we need corporations and corporate money out of politics. did you see elizabeth warren absolutely eviserate the wells fargo ceo in the senate banking committee hearing yesterday... my god she was on the warpath and it was a thing of beauty.... I love Elizabeth Warren. You have no idea how much I wish I could vote for her instead of Hillary Clinton. "You have no idea how much I wish you could vote for her instead of Hillary Clinton... | |||
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"So in order to meet high pressure sales targets, about 5,300 employees at Wells Fargo opened between 1.5 and 2 million bank accounts that weren't asked for. This enabled them to charge fees for the accounts, issue cards and claim bonuses on their sales targets. A pathetic fine of just $185m is their punishment. Or 3 days profit. Nobody senior executives charged with fraud. Great to see we learnt a lot from 2008 and it definitely couldn't happen again. " The banking crisis in 2008 was not caused by fraud though so it is not a like for like comparison. In any event the losses of the banks are borne by the shareholders . | |||
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"Lessons should have been learned from the crash but they were not.Well not entirely true,it is that to many powerfull people do not want to change there ways as it is not in there interest. They were (that's lessons), only they are not the ones that needed to be learned. The main lessons learned were that bankers can commit international multi trillion £ frauds and the politicians they have bought over the last 35 years will bail them out, ensure they don't lose their bonuses, make the victims of their frauds (us) pay for their crimes and protect them an their corporate shareholders from any personal criminal prosecutions. At least America had the balls to let some of those corrupt companies go to shit (proper capitalism). " However there are not any corrupt banks in tbe UK and all bsil out money will be repaid to the government . The banking losses were and still are being borne by the shareholders , many of whom have lost substantial amounts of money . | |||
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"Lessons should have been learned from the crash but they were not.Well not entirely true,it is that to many powerfull people do not want to change there ways as it is not in there interest. They were (that's lessons), only they are not the ones that needed to be learned. The main lessons learned were that bankers can commit international multi trillion £ frauds and the politicians they have bought over the last 35 years will bail them out, ensure they don't lose their bonuses, make the victims of their frauds (us) pay for their crimes and protect them an their corporate shareholders from any personal criminal prosecutions. At least America had the balls to let some of those corrupt companies go to shit (proper capitalism). However there are not any corrupt banks in tbe UK and all bsil out money will be repaid to the government . The banking losses were and still are being borne by the shareholders , many of whom have lost substantial amounts of money ." Best trolling yet. Don't mention the bond holders and no one will notice the flaw in your logic. 2008 was all about fraud and too big to fail banks. Not a hope in hell UK taxpayers will get close to breaking even on bailing out bunch of worthless cheats. | |||
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"Lessons should have been learned from the crash but they were not.Well not entirely true,it is that to many powerfull people do not want to change there ways as it is not in there interest. They were (that's lessons), only they are not the ones that needed to be learned. The main lessons learned were that bankers can commit international multi trillion £ frauds and the politicians they have bought over the last 35 years will bail them out, ensure they don't lose their bonuses, make the victims of their frauds (us) pay for their crimes and protect them an their corporate shareholders from any personal criminal prosecutions. At least America had the balls to let some of those corrupt companies go to shit (proper capitalism). However there are not any corrupt banks in tbe UK and all bsil out money will be repaid to the government . The banking losses were and still are being borne by the shareholders , many of whom have lost substantial amounts of money ." . You do make me pat!.
I'd love to live in your world for a day | |||
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"So in order to meet high pressure sales targets, about 5,300 employees at Wells Fargo opened between 1.5 and 2 million bank accounts that weren't asked for. This enabled them to charge fees for the accounts, issue cards and claim bonuses on their sales targets. A pathetic fine of just $185m is their punishment. Or 3 days profit. Nobody senior executives charged with fraud. Great to see we learnt a lot from 2008 and it definitely couldn't happen again. The banking crisis in 2008 was not caused by fraud though so it is not a like for like comparison. " Yes it was, in part, the sub-prime mortgage crisis happened due to people fraudulently inflating their declared incomes | |||
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"Lessons should have been learned from the crash but they were not.Well not entirely true,it is that to many powerfull people do not want to change there ways as it is not in there interest. They were (that's lessons), only they are not the ones that needed to be learned. The main lessons learned were that bankers can commit international multi trillion £ frauds and the politicians they have bought over the last 35 years will bail them out, ensure they don't lose their bonuses, make the victims of their frauds (us) pay for their crimes and protect them an their corporate shareholders from any personal criminal prosecutions. At least America had the balls to let some of those corrupt companies go to shit (proper capitalism). However there are not any corrupt banks in tbe UK and all bsil out money will be repaid to the government . The banking losses were and still are being borne by the shareholders , many of whom have lost substantial amounts of money . Best trolling yet. Don't mention the bond holders and no one will notice the flaw in your logic. 2008 was all about fraud and too big to fail banks. Not a hope in hell UK taxpayers will get close to breaking even on bailing out bunch of worthless cheats." "Losses were borne by the shareholders" made me spit my drink out. I guess we just imagined the bailouts then! | |||
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