Showing posts with label UBS. Show all posts
Showing posts with label UBS. Show all posts

20120123

Money+Drugs=Corruption

What is the link between money and drugs?
Lets have a deeper look at the Global Financial Crisis.The trouble originated in Iceland when in 2000 the Government began the process of deregulating the business and finance sectors. The three largest banks in Iceland were given express permission to regulate themselves.
Which they did... all the way to the bank.
Bankers at Bank 1 lent to their friends at Bank 2 and Bank 3 just for fun and between the three banks they created a huge cash flow for themselves, their families and their friends. In fact in five years they borrowed over 120 million just between the three of them. This in a country who's GDP was about 12 million. All these fun and games were overseen by US ratings firms and audited by the same corrupt firms.
As we know this kind of playing with other peoples money had been going on for a long time in the US since the 1980s when Reagen deregulated the financial markets.
But what I found so very interesting when researching this is......
How commonly acknowledged and accepted it is that Wall Street investment bankers are BIG TIME COKE HEADS.