Bankers, money manipulators and other miscellaneous rodents that infest our planet.
Morgan Stanley to Pay $3.2 Billion to Settle Allegation of Fraud
February 12, 2016
“In news from Wall Street, banking giant Morgan Stanley will pay $3.2 billion to settle a slew of federal and state charges that the bank lied to investors about the value of residential mortgage-backed securities, which played a role in triggering the global financial recession that began in late 2007. This is the latest in a series of financial settlements by banking giants charged with lying about the value of the toxic mortgage-backed securities. President Obama set up a working group in 2012 to investigate wrongdoings in the mortgage market in the lead-up to the financial crisis. So far, this working group has led to Bank of America paying out $16.6 billion, JPMorgan paying out $13 billion and Citigroup paying out $7 billion in settlements, in addition to Morgan Stanley’s settlement announced Thursday. The investigations have not led to criminal charges or jail time for any banking executives involved”.
Yet another John Key past failed associate is fined billions for dodgy and dishonest [illegal] behaviour…in regard to wrongdoings in the mortgage market and derivatives Ponzi style loan schemes so favoured by Wall Street rip-off operatives …when one couples Morgan Stanley with the Bank of America, JP Morgan, Merrill Lynch [Keys old boss] and other disreputable and infamous rip-off artists. One is left totally amazed that none of these rotten eggs have ever faced jail time for their obvious crimes against humanity. Yet a starving street person caught ‘shop-lifting’ [especially if they are black] can be jailed in a flash. In Palmerston North we also want to kick them off the street, beat that for humanity in action.
Is that justice? And don’t use the argument that it could only happen in the USA…if you think that you are wrong…Name anyone from South Canterbury Finance who did jail time, in fact we Knight our financial failures just as the banks here in NZ are absolutely untouchable because they are overseas owned and are almost tax free operations, as are the International IT outfits like Apple, Google and Micro-soft…they pay stuff-all tax, while hard working minimum paid workers and part-time employees pay tax on every dollar earned and also a huge 15% goods and services tax on food and healthcare…they even pay that on their power bill, phone bill.
We have shockingly self-centred employers like the ‘Talley’ Brothers who simply rip-off their employees and fail to abide by court rulings and yet suffer no penalties or jail-time for forcing workers into poverty, and believe it or not, Key Knights these very same disgusting people…and let’s not forget that Key wants to change the flag…while reintroducing Knighthoods, and kissing the Queens hand every chance he gets…talk about contradictory behaviour…hates the flag, but loves the Queen, jails shoplifters but frees financial crooks and crooked politicians [Collins, Banks, etc.].
The major problem with politics in New Zealand, as is the case in the US and other countries, is the fact that each of the two leading political parties are so alike that the public really have no choice.They both pamper to their rich donors and business mates...while at the same time reducing benefits, working conditions etc.
What is the difference between Labours and Nationals treatment of their corporate donors for example, they both treat the banking and financial sectors like gods…both parties have no policies to bring these elements under control. What’s the difference between the corporate friendly charitable behaviour of [Sir] Roger Douglas and Ruth Richardson and John Key or labour [newest] leader Andrew Little, to their wealthy elite, who in fact, as we know runs both so-called democratic parties?
Did you as a party member [National or Labour] or even just a party supporter play any part in the election of Key or Little as leader? When was the last time you actually had a chance to democratically have an input into policy formation [Outside of a general election].
The latest information about the financial state of New Zealand is crowded with more spin than substance these days, seriously folks we have even wee Paula Bennett a cabinet minister and ex-solo mum and state welfare recipient now pretending that she has some knowledge about banking…can you believe that…its like accepting that Key actually gives a hoot about hungry kids…while he ups GST for the poor and lowers income-tax for the wealthy.
We should only believe what people do, as against what they say they do, actions speak louder than words. But of course you need a media that will tell you what they do…Our media sold out its soul for profit years ago.
Here is a little bit of weekend reading that may help stir some constructive thought about a possible future…