Post: #61

For these (specific) F-ers (who run this joint) it is PURELY a numbers game. No emotion, simple math. If they broke the law, they pre-meditated the penalty vs the profit and factored in the risk neumericaly.

That this one man, was/is burned is of no significance to "them". They do not care. It is simply a cash in the till exersize for them.

along with that gearlike motion, comes the added focus on Hatred of all non-jews, and oppression of all people of European decent. Which is the other side of their balance scale, and may at times tip the neumeric "goal" (somewhat) from time to time.

If it was not this specific business, it would be some other profit making enterprise run in exactlythe same manner. though with this one (this specific sawdust joint) they have in their corner, the lawmakers to clear their path to even greater profits.

If this "money machine" failed to produce, it would be abandoned "very" quickly.

There is no Entrepranurism going on here, no love of company, it is simply a grind machine producing money, cash flow, legitimate cash flow to "them" (these specific F-er's).

So it goes.

Post: #62

Levin Opening Statement, "U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History"

U.S. Senate Permanent Subcommittee on Investigations

Tuesday, July 17, 2012

Today’s hearing will examine the money laundering, drug trafficking, and terrorist financing risks created in the United States when a global bank uses its U.S. affiliate to provide U.S. dollars and access to the U.S. financial system to a network of high risk affiliates, high risk correspondent banks, and high risk clients.

Most international banks have a U.S. affiliate. They use it in part to compete for U.S. clients and business, but also to provide themselves with access to the U.S. financial system. Global banks want access to U.S. dollars, because they are accepted internationally, are the leading trade currency, and hold their value better than any other currency. They want access to U.S. wire transfer systems, because they move money across international lines quickly, securely, and to the farthest corners of the earth. They want to clear U.S. dollar monetary instruments like travelers cheques, bank cheques, and money orders. And they want the safety, efficiency, and reliability that are the hallmarks of U.S. banking.

The problem here is that some international banks abuse their U.S. access. Some allow affiliates operating in countries with severe money laundering, drug trafficking, or terrorist financing threats to open up U.S. dollar accounts without establishing safeguards at their U.S. affiliate. Some operate in secrecy jurisdictions. Some allow poorly managed or corrupt foreign banks to make use of an affiliate’s U.S. dollar account. Others allow high risk clients to use those accounts without taking adequate anti-money laundering steps. Some even allow their affiliates to pressure their U.S. cousin to ease up on U.S. anti-money laundering restrictions or look the other way when they spot suspicious activity. The end result is that the U.S. affiliate can become a sinkhole of risk for an entire network of bank affiliates and their clients around the world playing fast and loose with U.S. banking rules.

The consequences are the ones you would expect from operating a U.S. bank with inadequate safeguards against money laundering. The U.S. bank can end up aiding and abetting transactions that fund terrorists, drug cartels, corrupt dictators, and tax cheats. Because all of them want access to the U.S. financial system, too, and for the same reasons. Wrongdoers can use U.S. dollars and U.S. wire transfers to commit crimes, arm terror groups, produce and transport illegal drugs, loot government coffers, even pursue weapons of mass destruction. That’s why our country has made combating money laundering and terrorist financing a national security imperative.

For the last decade, this Subcommittee has contributed to the battle against money laundering and terrorist financing by exposing problems that increase U.S. vulnerabilities to abuse. In 2001, for example, this Subcommittee released a report showing how U.S. banks that offer accounts to foreign banks, engaging in what is known as correspondent banking, can become conduits for illicit proceeds involving organized crime, drug trafficking, or financial fraud. Back then, most U.S. banks opened a correspondent account for any foreign bank with a banking license. After our hearing, U.S. banks took a harder look and assessed the risks before opening a correspondent account. In 2002, Congress cited our hearings when enacting tougher anti-money laundering or AML laws in the Patriot Act, including a provision making it a legal obligation for U.S. banks to conduct a due diligence review before opening an account for a foreign bank.

Tougher AML laws have helped deny criminals access to the U.S. financial system. But as the report we’re releasing today shows, enormous problems remain.

To illustrate those problems, today’s hearing focuses on a case study involving HSBC, one of the largest banks in the world. Headquartered in London, HSBC has a network of over 7,200 offices in more than 80 countries, 300,000 employees, and 2011 profits of nearly $22 billion. HSBC has been among the most active banks in Asia, the Middle East, and Africa. It first acquired a U.S. presence in the 1980s; today its leading U.S. affiliate is HSBC Bank USA, known as HBUS. HBUS has more than 470 branches across the United States and 4 million customers.

HBUS is the key U.S. nexus for the entire HSBC worldwide network. In 2008, it processed 600,000 wire transfers per week; in 2009, two-thirds of the U.S. dollar payments HBUS processed came from HSBC affiliates in other countries. One HSBC executive told us that a major reason why HSBC opened its U.S. bank was to provide its overseas clients with a gateway into the U.S. financial system.

Add on top of that, HBUS’ history of weak anti-money laundering controls, and you have a recipe for trouble. In 2003, the Federal Reserve and New York State Banking Department took a formal enforcement action requiring HBUS to revamp its AML program. HBUS, which was then converting to a nationally chartered bank under the supervision of the Office of the Comptroller of the Currency, or OCC, made changes, but even before the OCC lifted the order in 2006, the bank’s AML program began deteriorating. In September 2010, the OCC issued a Supervisory Letter, 31-pages long, describing a long list of severe AML deficiencies, and followed in October 2010, with a Cease and Desist order requiring HBUS to revamp its AML program a second time.

The OCC cited, among other problems, a massive backlog of unreviewed alerts identifying potentially suspicious activity; a failure to monitor $60 trillion in wire transfers and account activity; a failure to examine risks at HSBC’s overseas affiliates before providing them correspondent banking services; and a failure, over a three-year period, to conduct anti-money laundering checks on more than $15 billion in bulk-cash transactions with those same affiliates.

To examine the issues, the Subcommittee issued subpoenas, reviewed more than 1.4 million documents, and conducted extensive interviews with HSBC officials from around the world, as well as officials at other banks, and with federal regulators. HSBC has cooperated fully with the investigation.

The Subcommittee’s work identified five key areas of vulnerability exposed by the HSBC case history. The five areas involve:

* Providing U.S. correspondent accounts to high risk HSBC affiliates without performing due diligence, including a Mexican affiliate with unreliable AML controls;
* Failing to stop deceptive conduct by HSBC affiliates to circumvent a screening device designed to block transactions by terrorists, drug kingpins and rogue nations like Iran;
* Providing bank accounts to overseas banks with links to terrorist financing;
* Clearing hundreds of millions of dollars in bulk U.S. dollar travelers cheques, despite suspicious circumstances; and
* Offering bearer-share accounts, a high risk account that invites wrongdoing by facilitating hidden corporate ownership.

Let’s take each in turn...

http://www.levin.senate.gov/newsroom/spe...se-history

Post: #63

http://www.hsgac.senate.gov/subcommittee...se-history

Senate Committee Web page for that hearing. You can watch the hearing on streaming video and download Coburn's opening statement there. Edit: they actually did a nice job with this, all the testimony and related documents and exhibits are on here.

Post: #64

Post: #65

LIBOR Probe Expands To Four Large Banks
July 20, 2012 • 9:15AM

Evidence is being produced that, as expected, the entire LIBOR/Euribor scheme is an organized-crime operation. The Financial Times reports today that U.S. and U.K. regulators — the U.S. Commodities Futures Trading Commission (CFTC) and Britain's Financial Services Authority (FSA) are focusing on at least four of Europe's biggest banks in the investigation on the LIBOR/Euribor manipulation, "suspecting that Barclays traders were the ringleaders of a circle that included Crédit Agricole, HSBC, Deutsche Bank and Société Générale."..

(snip)

...The FSA has found out that there were at least 20 requests from traders at different banks to Barclays' Euribor submitters between 2006 and 2008. In the same context, the FT reports that Bank of England Governor Mervyn King has "sent a letter to central bankers inviting them to a Sept. 9 meeting in Switzerland to discuss 'radical reforms' to the LIBOR process, according to a person familiar with the contents."

http://larouchepac.com/node/23397

Not a bombshell by any means, but this is how things can unravel and snowball IF WE PAY ATTENTION, and put the pressure on.

Our illegitimate governments wanted to bury this. It's coming out into the open IMHO because they have to have some kind of story to pin YOUR ABJECT POVERTY onto, when it arrives.

Just putting it up there, in the hope people keep tugging on the twine, maybe the WHOLE BALL of FRAUD will unwind?

Post: #66

'Not a bombshell by any means, but this is how things can unravel and snowball IF WE PAY ATTENTION, and put the pressure on.

Our illegitimate governments wanted to bury this. It's coming out into the open IMHO because they have to have some kind of story to pin YOUR ABJECT POVERTY onto, when it arrives.

Just putting it up there, in the hope people keep tugging on the twine, maybe the WHOLE BALL of FRAUD will unwind?' - Luvee

Post: #67

BloodRed  Wrote:

'Not a bombshell by any means, but this is how things can unravel and snowball IF WE PAY ATTENTION, and put the pressure on.

Our illegitimate governments wanted to bury this. It's coming out into the open IMHO because they have to have some kind of story to pin YOUR ABJECT POVERTY onto, when it arrives.

Just putting it up there, in the hope people keep tugging on the twine, maybe the WHOLE BALL of FRAUD will unwind?' - Luvee

Clean up your mailbox, this is embarrassing.

Post: #68

All part of the plan.

Post: #69

weres
arrests and cuffs

Post: #70

http://divinecosmos.com/start-here/david...-revealing
Now we get to see just who is broken in our legal dept.

Post: #71

LoP Guest  Wrote:

All part of the plan.

Plan? WHICH plan? There's ninety-nine and one half THOUSAND nefarious conspiracies out there! Some are even real. I believe several, myself ....

Pick one; any plan at all.

No matter, as the edifice is coming down, brick by brick, in proof of the ubiquitous human constants of hubris, stupidity, and greed.

I actually believe these cults for world domination, some of which actually DO exist, will fail because they are in the process of destroying the society upon which they prey. The parasites' food source is weakening, mayhap dying. Surely sickly.

As Cicero said, "Money is the sinews of war." No dough, no go, and the ENTIRE financial system is self-destructing. It's coming down, and right before our eyes.

All WE have to do is live through what promises to be a long haul on a rough road. And pick up the pieces ....

Post: #72

Hi BloodRed good post thanks for posting.

This is just the first domino in the beginning of the fall of the central banks. Even as we speak the little guys are all gearing up to sue their big bank counterparts in the U.S. over the libel scandal.

All it took was to expose to everyone that the corruption goes to the very top and that they have all been duped and conned.

The big banks are done for.

Post: #73

HSBC, Prince Bandar, and 9/11: The Plot Thickens
July 21, 2012 • 9:17AM

The recently-released 330-page report of the Senate Permanent Subcommittee on Investigations (SPSI) on HSBC's role in money laundering for drug cartels, terrorist organizations, and Iran, has shed further light on the financing of the Sept. 11, 2001 terrorist attacks on the World Trade Center and the Pentagon. As the report documents, HSBC maintained a correspondent banking relationship with Al Rahji Bank of Saudi Arabia, a conduit for funds to al-Qaeda and other Islamist terror cells. Al Rahji Bank was part of a network of Saudi-based banks and charities that funneled an estimated $30 million a year to finance al-Qaeda's operations alone. HSBC, through its New York City branch, HBUS, gave Al Rahji and other linked elements within what was called the "Golden Chain," access to the U.S. banking system.

What's more, following the shutdown and sell-off of Riggs National Bank, after revelations of money laundering and other criminal activities on behalf of a number of foreign governments, the bulk of the embassy banking accounts were taken over by HSBC. The transfer of the embassy accounts from Riggs to HSBC included the infamous Saudi embassy accounts of Ambassador Prince Bandar bin-Sultan and his wife. Those accounts were conduits for at least $2 billion in kickbacks from the Al Yamamah weapons-for-oil barter deal to Prince Bandar, who brokered the Anglo-Saudi special arrangement back in 1985 with then-British Prime Minister Margaret Thatcher...

http://larouchepac.com/node/23412

I was hoping they'd come out with this before this thread got unpinned.
Here's a 2009 investigation for those who aren't familiar with this aspect of 911:

http://www.youtube.com/watch?v=xt2IFi-rQro

Post: #74

Luvapottamus  Wrote:

HSBC, Prince Bandar, and 9/11: The Plot Thickens
July 21, 2012 • 9:17AM

The recently-released 330-page report of the Senate Permanent Subcommittee on Investigations (SPSI) on HSBC's role in money laundering for drug cartels, terrorist organizations, and Iran, has shed further light on the financing of the Sept. 11, 2001 terrorist attacks on the World Trade Center and the Pentagon. As the report documents, HSBC maintained a correspondent banking relationship with Al Rahji Bank of Saudi Arabia, a conduit for funds to al-Qaeda and other Islamist terror cells. Al Rahji Bank was part of a network of Saudi-based banks and charities that funneled an estimated $30 million a year to finance al-Qaeda's operations alone. HSBC, through its New York City branch, HBUS, gave Al Rahji and other linked elements within what was called the "Golden Chain," access to the U.S. banking system.

What's more, following the shutdown and sell-off of Riggs National Bank, after revelations of money laundering and other criminal activities on behalf of a number of foreign governments, the bulk of the embassy banking accounts were taken over by HSBC. The transfer of the embassy accounts from Riggs to HSBC included the infamous Saudi embassy accounts of Ambassador Prince Bandar bin-Sultan and his wife. Those accounts were conduits for at least $2 billion in kickbacks from the Al Yamamah weapons-for-oil barter deal to Prince Bandar, who brokered the Anglo-Saudi special arrangement back in 1985 with then-British Prime Minister Margaret Thatcher...

http://larouchepac.com/node/23412

I was hoping they'd come out with this before this thread got unpinned.
Here's a 2009 investigation for those who aren't familiar with this aspect of 911:

http://www.youtube.com/watch?v=xt2IFi-rQro

~ WOW. =0 Thanks for that!! (P.S. Not long now, Luvee). <3

Post: #75

xenoverse  Wrote:

Hi BloodRed good post thanks for posting.

This is just the first domino in the beginning of the fall of the central banks. Even as we speak the little guys are all gearing up to sue their big bank counterparts in the U.S. over the libel scandal.

All it took was to expose to everyone that the corruption goes to the very top and that they have all been duped and conned.

The big banks are done for.

http://www.youtube.com/watch?v=DVMshMIPNUg

http://www.youtube.com/watch?v=YwE37bweKWs