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| User Info | Taxpayer Funds Support Money Laundering?! in forum [Ticker] | |||
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Genesis Posts: 71422 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1164-T....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-06-26 08:13:57
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Madashel Posts: 577 Incept: 2007-09-14 
West Texas
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They want to cram all of this down our throats and make us like it. It's like they are driving a garbage truck through a dog door. Something is going to break...and soon. With all of the financial fraud plus several life altering anti-USA tax bills going through congress we are about to witness a ****storm...up close and personal. wait, what was that? OH MY GOD Michael Jackson is dead!?!? /massive sarcasm I couldn't care less about a dead freakshow entertainer that had a couple of good songs 25 years ago, but that seems to be the focus today instead of what is really going on. Sad really. ---------- "Those who cannot remember the past are condemned to repeat it." - George Santayana "It is better to live for something rather than die for nothing." - George S. Patton
2009-06-26 08:24:51
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Snowman Posts: 1040 Incept: 2009-03-09
avoiding yellow snow
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Gen, you are jumping to conclusions. Citi uses internal databases to screen transactions against, like taking the US Treasury OFAC lists converted for internal use. The Japanese regulators have been after them for a while to use the "official" Japanese data, which actually is inferior as it doesn't contain enough data on individuals and companies. Other banks do the same but went along with the Japanese regulators anyway and use both systems (relying on their internal ones). The second reason for the slap on the wrist is that not enough branch employees are formally certified in the anti-money laundering process. They are all internally certified, but of course this doesn't pass muster with the authorities. Citi has been on the short leash with the regulators since 2004 when they indeed had a breach in their know your customer process and had a relationship with a known stock manipulator even though their internal process flagged it many times, the branch manager decided to ignore it. but money laundering? Please. If Citi, or any other bank does get nailed for money laundering, their bank charter in the US will be revoked, pretty much instantly. And senior management are personally liable.
2009-06-26 08:33:17
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Dji Posts: 720 Incept: 2009-04-21 
Fleming Island Online
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They should have been shut down last Thanksgiving. 7 months ago. Can you say "kick the can" ---------- What goes up Must come Down- Alan Parsons Project THE TRUTH HURTS! -Dji
2009-06-26 08:37:54
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Thetransporter Posts: 882 Incept: 2008-11-22
IL
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The fine will be.. ohh... let's say... $134 billion, due in bearer bonds.. LOL
---------- I guess the employees stuffing cash into their cars and management shredding all documents probably prompted the FDIC to get off their reluctant asses and do something today. --Scribe
2009-06-26 08:40:03
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Snowman Posts: 1040 Incept: 2009-03-09
avoiding yellow snow
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Citi has been a zombie for over a year now, November was just another attempt to get them out of flatlining. They are in ICU and the plug should have been pulled ages ago.
2009-06-26 08:42:53
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Txin1880 Posts: 1268 Incept: 2009-02-25
Texas
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"their bank charter in the US will be revoked" By the corrupted, ineffective "regulators" who so well regulated banks like Indymac where the "regulation" included backdated capital adjustments? ---------- Don't just starve the beast, slit it's throat. "Blow up your TV, throw away your paper. ~ John Prine
2009-06-26 08:53:10
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Redfigures Posts: 705 Incept: 2008-02-24
State of Flux Online
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Gotta pay them back somehow for the Bearer Bonds.
2009-06-26 09:30:04
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Snowman Posts: 1040 Incept: 2009-03-09
avoiding yellow snow
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Txin: say what you will about IndyMac and backdating capital figures, but that type of shenanigans pales with anti-money laundering regulatory oversight governed by The Patriot Act and the Bank Secrecy Act. Separate regulatory department and staffed by brass knuckles people you rather not want to mess with (versus an idiotic bean counter from the OTS).
2009-06-26 09:37:47
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Madras Posts: 130 Incept: 2008-10-09
Philadelphia
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Quote:overly lax money laundering controls This would seem to imply that there are actually "acceptable" levels of money laundering... *shakeshead* ---------- The fact that you have not yet personally seen the wheels come off the bus does not confirm the presence of lug nuts.
2009-06-26 10:55:32
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Karens Posts: 34 Incept: 2009-04-20 Georgia
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Our world has gone completely mad. I pray that God will watch over us. http://justgetthere.us/blog/archives/Ber....
2009-06-26 11:01:42
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Centurion Posts: 76 Incept: 2009-05-14 DFW
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More chaos and lawlessness in the financial markets. It's a great day to be alive. :) Just how much longer is it going to take for the average joe to figure out that the powers that be have made playing by the rules (taxes, bills, etc) a total sucker bet? Has anyone else realized it? I mean I am following my own ethics/moral code but as far as I'm concerned the government's rules are pretty close to meaningless at this point. Personally I'm keeping an eye on the charge off rates for the CC companies and any "bust out" numbers they publish. That seems to be a leading indicator to me. ---------- - If you're not being shot at, it's not a high stress job. - The right to self-defence is THE basic human right. - No, I don't know everything .... I'm just REALLY good with Google. - Trying not to be a tinfoil guy. But can you really blame me after the actions of Fed & Treas?
2009-06-26 11:10:17
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Widgeon Posts: 6525 Incept: 2007-08-30
OK
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This too from Japan ... from 2003. http://www.tickerforum.org/cgi-ticker/ak....
2009-06-26 12:45:25
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Wcf Posts: 20 Incept: 2008-12-09 Los Angeles Online
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I wonder how much of that is the Japanese government starting (or furthering) some protectionism and in the mean time getting some of the oh so tempting free flowing honey by levying a fine. Hey whatever that fine may be may just cover part of their soon to be treasury bond losses. In the mean time it gives them another strategic string to pull.
2009-06-26 18:25:55
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Txin1880 Posts: 1268 Incept: 2009-02-25
Texas
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"I pray that God will watch over us." Good luck on that, meanwhile, I hope you have food and weapons. ---------- Don't just starve the beast, slit it's throat. "Blow up your TV, throw away your paper. ~ John Prine
2009-06-27 00:53:36
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