Born into a Big 5 investment banking family, I quit organized financial racketeering to go straight. MacDougal Irving is my Blogger Protection Identity, and I am a retired Certified Public Accountant and, like all of us, a badly misinformed investor. These are my observations on capital market cons as they were explained to me across the dinner table as a kid.
Prize
........... Recipient of the 2010 MacDougal Irving Prize for Truth in Market Manipulation ...........
November 12, 2014
Governments Fine Shareholders, Let Crooks off
Our communist propaganda machine reported today that U.S., British, and Swiss bureaucrats fined five global banks $3.4 billion for attempting to manipulate foreign exchange markets. That's a lie. Once more, it was innocent bank shareholders who got fined, strongarmed into coughing up the kind of obscene bribes that corrupt government functionaries are demanding from crooks controlling shareholder funds who are seeking to avoid prosecution for financial crimes these days. No actual perps were arrested, charged, or even fingered in blatant criminal activity egregious enough to justify a multibillion dollar payola price tag.
The longtime arch-villain in this lucrative racket, Eric Holder, is gone, but more reprobates are scrambling to move his damnable legacy on. And the American media, seemingly feigning cluelessness, keeps misrepresenting what's going on here over and over again.