Updating FTR #‘s 772 and 792, the broadcast highlights a recent social psychology experiment that indicated a strong inclination toward dishonest, criminal behavior on the part of banking professionals. After noting Deutsche Bank’s precarious position, the program notes two other suspicious deaths. Deutsche Bank’s Calogero Gambino allegedly took his own life, following the alleged suicide of another Deutsche banker–William Broeksmit. Citigroup’s Shawn Miller supposedly slit his own throat, this after placing some 911 calls complaining about being followed. The Senate banking committee recently concluded an investigation of the banking industry’s involvement in the commodities’ markets, something that offers tremendous opportunity for illegal speculation, as well as leaving banks with potentially catastrophic exposure to fluctuation in those markets. In October, a dramatic fluctuation in the market for U.S. Treasury bills has raised ominous questions concerning the stability of this global financial safe haven. The probability of such an event happening was once every 1.6 billion years!
Foreign Banks borrowed extensively from Fed during the meltdown; aid to Dexia and Depfa needed to avoid munipal fiscal armageddon, stemming partially from Dexia’s apparent criminal activity.
Comment: There is a military slang acronym “BOHICA,” which stands for “Bend Over, Here It Comes Again.” “Economists: Another Financial Crisis on the Way” by Matthew Jaffe; ABC News; 3/2/2010. Even as many Americans still struggle to recover from the country’s worst economic downturn since the Great Depression, another crisis – one that will be […]
Blackwater security outfit plots to kill whistleblowers; deadly pathogens missing from Ft. Detrick; viruses mutating to infect other species; the bailout hasn’t assured economic security and has made the institutions that are “too big to fail” even bigger.
Food Services Giant Sodexo’s scams cost taxpayers, school children big bucks; Timothy Geithner ignored U.S. Treasury bonds naked short selling; Swiss Banks joining AIG in offshore machinations.
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