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April 29 2013

00:48

January 06 2013

05:44

Smashing bank windows creates work for window repair folks….pass it on.

August 07 2012

05:51

Standard Chartered Bank accused of scheming with Iran to hide transactions | Business | The Guardian

British bank named in scathing report by regulators which claims SCB helped Iranian clients skirt US financial sanctions

July 30 2012

23:12

Iran sentences four to death over bank fraud with political fallout | World news | guardian.co.uk

Unnamed quartet to hang after £1.7bn embezzlement scandal raised questions over Iranian privatisation drive

An Iranian court has sentenced four people to death for a billion-pound bank fraud that tainted the government of President Mahmoud Ahmadinejad, according to state media.

Iranians, hit by sanctions and soaring inflation, were shocked by the scale of the £1.7bn embezzlement, which was exposed last year, and by allegations it was carried out by people close to the political elite, or with their assent.

Thirty-nine people were tried for the fraud, the biggest in the Islamic Republic’s history. Four of those had been sentenced to hang, the IRNA state news agency reported.

“According to the sentence that was issued, four of the defendants in this case were sentenced to death,” prosecutor general Gholam-Hossein Mohseni-Ejei told IRNA.

Two people had been sentenced to life prison terms, and others received jail sentences of up to 25 years, Mohseni-Ejei said. In addition to jail time, some were sentenced to flogging, ordered to pay fines and banned from government jobs.

Mohseni-Ejei did not name the defendants, whom Iranian media have identified only by their initials. State television broadcast parts of the trial but blurred out the faces of the accused.

The man described by Iranian media as the mastermind of the scheme, the businessman Amir Mansoor Khosravi, is said to have forged letters of credit from Iran’s Bank Saderat to fund dozens of companies and buy a steel factory from the state.

Mahmoud Reza Khavari, the former head of Iran’s biggest bank, the state-owned Bank Melli, resigned over the affair and fled to Canada, where records show he owns a £1.9m home. …

FLASH! Iran has rare lucid moment - film at eleven.

July 22 2012

06:55

Trade minister Lord Green 'failed to halt flow of drugs cash' as HSBC boss | Business | The Observer

US Senate report shows that Lord Green was warned about money laundering linked to Mexican drugs cartels

06:52

Global banks are the financial services wing of the drug cartels | World news | The Observer

As HSBC executives apologise to the US Senate for laundering drugs money, the fact is that nothing changes

June 05 2012

07:47

Bilderberg 2012: Ken Clarke's drive of shame | World news | guardian.co.uk

…I picked up a couple of smaller tidbits myself. I was helping a cop move a security cordon near some trees, when he lowered his voice and casually let slip: “We don’t support Bilderberg, trust me.” And there’s what a hotel employee told me as he drove through the gates of the hotel. He lowered his window and beckoned me over. “I want you to know that they call you people ‘cockroaches’. I work in the hotel and they asked me if those cockroaches were still out there. They meant you.”

That’s nice. A nearby live-streamer, Sky Adams, laughed when I told him, and said: “Well, at least cockroaches are indestructible. They keep coming back.” I’m sure the organisers of Bilderberg will be delighted to know that….

June 04 2012

03:26
1191 54e0

…”Big corporations have taken over the government. It’s actually pretty easy to figure out.” The history is long and complicated, the scale of cronyism and control can be giddying, but somehow it can be made to fit on a single placard. …

(via Bilderberg 2012: guess who’s coming to dinner | World news | guardian.co.uk)

June 02 2012

22:45

Western banks 'reaping billions from Colombian cocaine trade' | World news | The Observer

…”The whole system operated by authorities in the consuming nations is based around going after the small guy, the weakest link in the chain, and never the big business or financial systems where the big money is.”

The work, by the two economists at University of the Andes in Bogotá, is part of an initiative by the Colombian government to overhaul global drugs policy and focus on money laundering by the big banks in America and Europe, as well as social prevention of drug taking and consideration of options for de-criminalising some or all drugs.

The economists surveyed an entire range of economic, social and political facets of the drug wars that have ravaged Colombia. The conflict has now shifted, with deadly consequences, to Mexico and it is feared will spread imminently to central America. But the most shocking conclusion relates to what the authors call “the microeconomics of cocaine production” in their country.

Gaviria and Mejía estimate that the lowest possible street value (at $100 per gram, about £65) of “net cocaine, after interdiction” produced in Colombia during the year studied (2008) amounts to $300bn. But of that only $7.8bn remained in the country.

“It is a minuscule proportion of GDP,” said Mejía, “which can impact disastrously on society and political life, but not on the Colombian economy. The economy for Colombian cocaine is outside Colombia.”

Mejía told the Observer: “The way I try to put it is this: prohibition is a transfer of the cost of the drug problem from the consuming to the producing countries.”

“If countries like Colombia benefitted economically from the drug trade, there would be a certain sense in it all,” said Gaviria. “Instead, we have paid the highest price for someone else’s profits – Colombia until recently, and now Mexico.

“I put it to Americans like this – suppose all cocaine consumption in the US disappeared and went to Canada. Would Americans be happy to see the homicide rates in Seattle skyrocket in order to prevent the cocaine and the money going to Canada? That way they start to understand for a moment the cost to Colombia and Mexico.” …

Reposted bydrugssoberNoodletompaket
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