Saturday, May 3, 2014

The Culture of Impunity

Its Great to be the CEO Running a Huge Criminal Bank

Three tales of the pervasive culture of unprosecuted fraud and corruption that has saturated the financial markets. 

How is it that Switzerland and other "tax havens" are allowed to get away with facilitating, even suborning tax evasion on a grand scale? 

"The first story deals with tax evasion, and begins with this cheery (and tellingly inaccurate) headline: "U.S. Banks to Help Authorities With Tax Evasion Probe."  Here's an alternative headline, drawn from the facts of the article: "Senior Officers of Goldman Sachs and Morgan Stanley Aided and Abetted Tax Fraud by Wealthiest Americans, Failed to Make Required Criminal Referrals, and Demanded Immunity from Prosecution for Themselves and the Banks before Complying with the U.S. Subpoenas: U.S. Department of Justice Caves in to Banker's Demands Continuing its Practice of Effectively Immunizing Fraud by Most Financial Elites.""

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