Bankers Will Be Jailed in the Next Financial Crisis

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Jesus College, Cambridge hosted, once more, the world’s leading Symposium on Economic Crime, and over 500 distinguished speakers and panelists drawn from the widest possible international fora, gathered to make presentations to the many hundreds of delegates and attendees.

What became very quickly clear this year was the general sense of deep disgust and repugnance that was demonstrated towards the global banking industry.

I can say with some degree of certainty now that a very large number of academics, law enforcement agencies, and financial compliance consultants are now joined, as one, in their total condemnation of significant elements of the global banking sector for their organised criminal activities.

Many banks are widely identified now as nothing more than enterprise criminal organisations, who engage in widespread criminal practice and dishonest conduct as a matter of course and deliberate commercial policy. 

– From the excellent article: The Banking Criminals Exposed

My prediction is that bankers will be jailed in the next economic/financial crisis. Lots and lots of bankers.

It may seem to many that those working within this profession will remain above the law indefinitely in light of the lack of any accountability whatsoever since the collapse of 2008. It may seem that way, but extrapolating this trend into the future is to ignore a monumentally changed political environment around the world. From the ascendancy of Donald Trump and Bernie Sanders here in the U.S., to Jeremy Corbyn becoming Labour leader in the UK, big changes are certainly afoot.

I have become convinced of this change for a little while now, but we won’t really see evidence of it until the next collapse. However, something I read earlier today really brought the point home for me. Rowan Bosworth-Davies recently attended the 33rd Cambridge International Symposium on Economic Crime and provided us with some notes in an excellent piece titled, The Banking Criminals Exposed. Here are a few excerpts:

Jesus College, Cambridge hosted, once more, the world’s leading Symposium on Economic Crime, and over 500 distinguished speakers and panelists drawn from the widest possible international fora, gathered to make presentations to the many hundreds of delegates and attendees.

This Symposium has indeed become an icon among other international gatherings of its knd and over the years, it has proved to be highly influential in the driving and development of international policy aimed at combating international financial and economic crime.

What became very quickly clear this year was the general sense of deep disgust and repugnance that was demonstrated towards the global banking industry.

I can say with some degree of certainty now that a very large number of academics, law enforcement agencies, and financial compliance consultants are now joined, as one, in their total condemnation of significant elements of the global banking sector for their organised criminal activities.

Many banks are widely identified now as nothing more than enterprise criminal organisations, who engage in widespread criminal practice and dishonest conduct as a matter of course and deliberate commercial policy.

Speaker after speaker addressed the implications of the scandalous level of PPI fraud, whose repayment and compensation schedules now run into billions of pounds.

Some speakers struggled with the definition of such activity as ‘Mis-selling’ and needed to be advised that what they were describing was an institutionalized level of organised financial crimes involving fraud, false accounting, forgery and other offenses involving acts of misrepresentation and deceit.

One of the side issues which came out of this and other debates, was the general and genuine sense of bewilderment that management in these institutions concerned, (and very few banks and financial houses have escaped censure for this dishonest practice) have walked away from this orgy of criminal antics, completely unscathed. The protestations from management that these dishonest acts were carried out by a few rogue elements, holds no water and cannot be justified.

In the end, I sat there, open-mouthed while evidence against the same old usual scum-bag financial institutions, was unrolled, and a lengthy list of agencies, all apparently dedicated to dealing with fraud and financial crime, lamely sought to explain why they were powerless to help these victims.

This was followed by a lengthy list of names of major law firms, and Big 5 accounting firms who were willing to join with these pariah banks to bring complex and expensive legal actions against these victims, bankrupting them, forcing them from their homes, repossessing properties they had worked for years to create, while all the time, the regulators and the other agencies, including to my shame and regret, certain spineless police forces, stood by and sought to justify their inaction.

At one stage, we were shown how banks ritually and deliberately take transcripts of telephone calls made between complainants and the bank, and deliberately and systematically go through these conversations, re-editing them and reproducing them in a format which is much more favourable to the bank.

For the first time, I found routine agreement among delegates that the banking industry had become synonymous with organised crime. Many otherwise more conservative attendees expressed their grave concern and their repugnance at the way in which so many of our most famous banking names were now behaving. It is becoming very much harder to believe that the banks will be able to rely on the routine support they have traditionally enjoyed from most ordinary members of the public.

The election of Jeremy Corbyn to the leadership of the labour Party means that banking crime and financial fraud will now become an electoral issue.

But now, the new Labour leadership will focus the attention of the electorate on the relationship between the Tory party and their very crooked friends in the City, and the degree of protection that the Square Mile gangsters and their Consiglieri, their Capos, and their Godfathers will become much more identifiable. Bank crime will now become much more identifiable as a City practice and their friends in the Tories will be seen as being primary beneficiaries.

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13 thoughts on “Bankers Will Be Jailed in the Next Financial Crisis”

  1. You are dreaming Michael if you think any of the actual Banksters who are responsible, will be jailed. What is already happening, if you have been following the many “suicides” and murders, is that undoubtedly there will be many more sacrificed bankers who will get blamed and eliminated. meanwhile, those behind the curtain who control the puppets, are immune. The entire world is asleep, impotent, too scared, or already being targeted and silenced for their contrarian views. I wish it was not true, but we have on the planet right now, such a minute percentage of awake people that we just don’t have the manpower to avert the crisis ahead. This is not about jailing the banksters, or stopping the medical tyranny or geoengineering or ending war….it is about the survive-ability of the Human Species. I think humanity will self-destruct, and this will happen relatively soon, and out of the ashes will arise a new type of person who will adapt to what is left. I am a 69 year old awake female and have been on the front lines of Thought Leadership for nearly 3/4 century and I believe we are at the End Of The Line.

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  2. You make some good points ! The lack of awareness will be altered directly after the next collapse ! All the walking dead will come alive with fire in their eyes striking out at whatever they believe to be the cause as the culprits slip out the back once again ! It will be an interesting show when the truth comes out and is understood by the majority !

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  3. At the very best, we might (or might not) see an out -of-favor scapegoat or two being jailed, but none from the inner circle of the banksters oligarchy will even be touched.

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  4. Admirably you remain an idealist. The truth is much uglier and your optimism unfounded. The corruption is top down, not limited to bankers. Justice requires honorable law enforcement, prosecutors and judiciary. All sadly not available.

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  5. Its going to take much more than threats to stop them….threats roll off them like water on a duck’s back. This requires action and they already have everyone who could make a difference in their pockets.

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    • Hence the reason for going after one of the last countries to prohibit Usury…Iran ! God Bless Them. Now if we can just purge the false Jews out of here like all the European countries did before we got flooded !

    • I’m not the one demonizing a group of people based on where they come from or who their ancestors were.

      My father’s family are European Jews or, Ashkenazis, so in your view half of my lineage are false Jews who should be expelled.

      Do you want to revisit what you said, or do you want to demonize half my ancestry as opposed to valuing who I am as a person?

      See where I am going with this? There is NEVER a good reason to demonize people based on their lineage. EVERYONE should be judged individually. This is rule number one of being a decent human being.

      If you love what I do, you should respect my lineage and my parents who raised me to be the person I am.

  6. Why wait until the next financial crisis hits? Aren’t we already in one? Isn’t the evidence already out there? Doesn’t this article point those things out? Nobody has the cajones to do this, that is in a position to do this. What are they waiting for? Could you or I go out and have these demons arrested? And, truth be told, it is only going to get worse, like a woman that travaileth. There ain’t no help coming, folks, there ain’t no calvary on the way. Cover your arses. Praise the Lord, and pass the ammunition. And trust that Jesus Christ died for our sins. That’s the only way out of this mess.

    Reply

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