America wants to sanction German Banks too

[flamer84]

No it wasn't, it was disgusting and blatantly racist. To poke fun of something such as sex trafficking victims....Shame on that guy.

I was in stitches today at the office reading that post.Grow a sense of humour man.

 

[A1Kaid]

The picture becomes clearer by the day. The US knows that a strong EU is counterproductive to US dominance and thus via its puddle; the UK, it pushed the EU to let beggar countries like Romania and recently the UKraine and even worse candidates, e.g. Moldova and Georgia into the Union to slow down integration and thus weakening the EU. It doesn't help that countries like Romania and Georgia receive direct instruction from Washington that counter the interest of the EU.

In Germany, more and more people start to realise this US scheme but our politicians are trapped in a web of US infliltrated institutions or they have too many skeletons in their closets which the US via NSA knows how to exploit.

The AAA rated toxic financial products, the inclusion of eastern European US-puppet countries into the EU, the Ukraine Nazi putsch, all of them are designed to weaken the EU.

This is a specific bank which violated US/Western sanctions which prohibit the transfer of funds between US/Europe with Iran. This Bank used it's branches within the US to make these transfer, clear violation of the sanctions.

 

[Aepsilons]

USA to fine German bank $500 million - English pravda.ru
08.07.2014 | Source:
Pravda.Ru

German Commerzbank may face the fine of $500 million. U.S. authorities suspect that the bank used its American branches to make sanctioned wire transfers from Iran and Sudan.

According to sources of the New York Times, the bank was offered to enter into an agreement, under which the U.S. federal government would refuse from prosecution in exchange to large financial payments to the treasury. Negotiations with Commerzbank are underway; the agreement can be concluded already this summer.

Experts note that the case of Commerzbank is like to be come an "exercise" before lodging similar claims against Germany's largest bank Deutsche Bank. It was reported that U.S. authorities suspected the bank of conducting prohibited transactions with Iran, Syria and Sudan.

Last week, French bank BNP Paribas admitted to violating sanctions against Sudan, Iran and Cuba. The bank pleaded guilty and agreed to pay the fine of $9 billion for illegal services.

@MarkusS @Götterdämmerung @boomslang

They should be fined. They violated the terms.

They're a bank, they should have known better.

I was in stitches today at the office reading that post.Grow a sense of humour man.

I don't find such crass commentary and ridicule funny at all. Its disgusting.

 

[LeveragedBuyout]

Those poor, sanctions-evading European banks. One must pity them for having to pay fines for supporting genocidal regimes and terrorists.

And the following is some much-needed context showing the sorts of fines levied against American banks to combat against the Euro-centric hysteria. The chart is from October 2013 (i.e. even worse now), and has now exceeded $100bn in total. This is just for mortgage fraud, which is nothing compared to the seriousness of sanctions-breaking activity:

 

[Aepsilons]

@LeveragedBuyout ,

Its so disgusting to see these charts. And to believe that after Obama intervened in behalf of Bank of America during the financial recession of '08, the first things these banking executives did was to give themselve(s) bonuses. In the millions of dollars.

From what, may I ask? From TAX PAYER MONEY!

Okay, I'm not even a US Citizen, but i pay taxes on all my goods, services. And the tuition that i pay , i pay taxes. The money that i receive in teaching, i lose 25% in taxes.

The first thing i'm going to do when i become an American Citizen, God Willing, is to never vote democrat.

 

[LeveragedBuyout]

@LeveragedBuyout ,

Its so disgusting to see these charts. And to believe that after Obama intervened in behalf of Bank of America during the financial recession of '08, the first things these banking executives did was to give themselve(s) bonuses. In the millions of dollars.

From what, may I ask? From TAX PAYER MONEY!

Okay, I'm not even a US Citizen, but i pay taxes on all my goods, services. And the tuition that i pay , i pay taxes. The money that i receive in teaching, i lose 25% in taxes.

The first thing i'm going to do when i become an American Citizen, God Willing, is to never vote democrat.

I generally agree, but it's important not to demonize the banks too much, for two reasons:

1) The government strongly encouraged (in a "nice bank, it would be a shame if something happened to it" kind of way) the banks to lend generously to those who were not credit worthy, through laws such as the Community Re-investment Act. Lower standards, lower quality. The outcome of such a policy is not so hard to see.

2) The government essentially forced Bank of America to buy Countrywide Financial at the lowest depths of the crisis in order to try and bolster the financial system. Then, after the government forced BofA to do this, it turns around and fines the hell out of BofA over Countrywide's massive mortgage fraud (Countrywide was the most aggressive abuser in the entire industry). If Countrywide had been forced into bankruptcy instead, the government would have gotten absolutely nothing, instead of the $50bn+ that Bank of America has coughed up so far. That's what I call chutzpah.

I see government interference in the mortgage market as a cancer that needs to be excised; strong capital requirements and good regulation would have been sufficient, but social engineering is beyond the pale. If it were only up to the banks, this would not have happened.

That said, thanks for recognizing that the Democratic Party is the worst offender in this regard.

 

[Hakan]

“The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered. ”

― Thomas Jefferson

 

[LeveragedBuyout]

“The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered. ”

― Thomas Jefferson

I admire Thomas Jefferson, but I don't treat his ideas as the word of G-d. If Jefferson had his way, the United States would have been permanently agrarian, and never would have industrialized. He hated banks, but would have condemned the citizenry to permanent poverty as a result. I will take the prosperity that a private banking system enables (and on a more macro level, capitalism), even if that means some evils along the way.

 

[A1Kaid]

“The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered. ”

― Thomas Jefferson

Then what alternative is there without banks providing loans and credit to people, companies, institutions, etc. Look at how many companies began with help of credit and start-up money. I like Jefferson his ideas are about a central bank like the Federal Reserve.

 

[Owl of Abott]

a large number of germen politicians are on america,s payroll,this thing is an insult to germany and i am surprised that how it,s leaders tolerated this kind of threat,but then again,they are on america,s payroll.

 

[A1Kaid]

a large number of germen politicians are on america,s payroll,this thing is an insult to germany and i am surprised that how it,s leaders tolerated this kind of threat,but then again,they are on america,s payroll.

It's not an insult to Germany, this was a private German bank that used it's branches in the US to transfer funds between Iran which is illegal under the western sanctions. Even a German bank in Germany isn't allowed to transfer funds with Iran.

 

[Hamartia Antidote]

1) The government strongly encouraged (in a "nice bank, it would be a shame if something happened to it" kind of way) the banks to lend generously to those who were not credit worthy, through laws such as the Community Re-investment Act. Lower standards, lower quality. The outcome of such a policy is not so hard to see.
.

You beat me to it. This is the most overlooked and understated fact of the financial crisis. The government basically did a "no family left behind" when it came to the "right" of buying a home...and it caused a disaster.

 

[Hakan]

Then what alternative is there without banks providing loans and credit to people, companies, institutions, etc. Look at how many companies began with help of credit and start-up money. I like Jefferson his ideas are about a central bank like the Federal Reserve.

I admire Thomas Jefferson, but I don't treat his ideas as the word of G-d. If Jefferson had his way, the United States would have been permanently agrarian, and never would have industrialized. He hated banks, but would have condemned the citizenry to permanent poverty as a result. I will take the prosperity that a private banking system enables (and on a more macro level, capitalism), even if that means some evils along the way.

Normal banks are needed but he is talking about the fed.

You beat me to it. This is the most overlooked and understated fact of the financial crisis. The government basically did a "no family left behind" when it came to the "right" of buying a home...and it caused a disaster.

Now the same is happening with college. Everyone is guaranteed in. This has caused the increase in the price of education and the formation of a big student debt bubble.

 

[LeveragedBuyout]

Normal banks are needed but he is talking about the fed.


Now the same is happening with college. Everyone is guaranteed in. This has caused the increase in the price of education and the formation of a big student debt bubble.

I don't always agree with Fed policies, but I support the existence of the Federal Reserve as an entity. Everyone who wants to abolish the Fed conveniently overlooks the Long Depression of 1873-1879. The gold standard is not a magical cure for the business cycle.

Very astute point about college. Many analysts believe that education is the new bubble, and with student debt now over $1 trillion, it's no longer sustainable.

 

[Hamartia Antidote]

Normal banks are needed but he is talking about the fed.

Now the same is happening with college. Everyone is guaranteed in. This has caused the increase in the price of education and the formation of a big student debt bubble.

Yep! Colleges are in a race to see how many bodies they can squeeze into their classrooms....and of course soaking them with a high tuition. I think there is going to be some upheaval someday due to the price. So then colleges will try a strategy of cutting the price by 75%, switching to 100% tele-classrooms, and exponentially increasing their enrollment. Then there will be this fight over who can offer (ie steal) the best teachers. This will be won by whoever can enroll the most students...further making higher education watered down.