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Inflation Deflation Red-flation Blue-flation
"A debate has been raging for some time among those in the finance industry about whether the United States is currently experiencing inflation, deflation, stagflation, reflation, hyperinflation, or maybe even some other sort of "-flation" that only Dr. Seuss could imagine.
Unfortunately, much of this debate is unproductive because the participants use varying definitions of these terms, and even when they use the same ones, deciding on one simple label might not be sufficient to describe the deeper economic forces at work and what their effects are likely to be. Given the confusion, this article will add some color to the debate by offering usable definitions of the terms inflation and deflation and then attempt to show what is occurring in today's economy."
(End of excerpt)
Full article at link by Matthew Beller// Ludwig von Mises Institute "A debate has been raging for some time among those in the finance industry about whether the United States is currently experiencing ... more -
Most Banking Sites are Insecure! Is your money safe?
"More than three-quarters of bank Web sites have design flaws that could expose bank customers to financial loss or identity theft, according to a University of Michigan study that will be presented this week at the Symposium on Usable Security and Privacy.
The study, "Analyzing Web Sites For User-Visible Security Design Flaws," examined 214 bank Web sites in 2006. It was conducted by University of Michigan computer science professor Atul Prakash and doctoral students Laura Falk and Kevin Borders.
The vulnerabilities identified by the authors aren't fixable with a simple patch. Rather, they are issues like login boxes, information submission forms, security information, and contact information placed on insecure pages; redirections outside the bank's domain without warning; allowing insecure user IDs and passwords; and e-mailing sensitive information insecurely.
"To our surprise, design flaws that could compromise security were widespread and included some of the largest banks in the country," Prakash said in a statement. "Our focus was on users who try to be careful, but unfortunately some bank sites make it hard for customers to make the right security decisions when doing online banking."
Prakash said that some of the issues have been addressed since they were discovered, but that more work needs to be done. At the same time, he advises not panicking because exploiting the vulnerabilities that he and his students found is not easy. In general, he said these flaws become an issue on potentially insecure networks, such as a wireless network not under your control or on a hotel's network.
Prakash and his colleagues point to a recent quarterly FDIC Technology Incident Report, which tracks suspicious activity at banks, to show the extent of the bank security shortcomings. The report identifies 536 computer intrusion incidents with an average loss of $30,000, a total loss of $16 million in the second quarter of 2007."
"More than three-quarters of bank Web sites have design flaws that could expose bank customers to financial loss or identity theft, ac... more -
Monkey Menace Reaches Terrifying New Level
It's a well-known fact that the monkeys have been plotting against us since the days of yore. But their terrible plans will get sped up quite horribly once they've mastered the skill of banking. That's right. Someone's been teaching the little hellions how to use money! "[O]ne can get some clues as to how evolution prepared us for money from the burgeoning research that seeks to present animals with economic choices. To gain perspective on human financial decisions, one may ask, what would monkeys do?Keith Chen and Marc Hauser at Yale University taught monkeys about resources that bear a strong resemblance to money. Monkeys don't care about money, per se, but they do care about marshmallows." It's a well-known fact that the monkeys have been plotting against us since the days of yore. But their terrible plans will get sped u... more
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Economic Depression Then and Now
On Tuesday and Wednesday, Federal reserve chairman Ben Bernanke, a scholar of the epic financial meltdown of the Great Depression, and Treasury Secretary Henry Paulson, a survivor of more recent Wall Street crises, told Congress of their latest efforts to rescue the financial sector. If Fed chairman Alan Greenspan, Clinton Treasury Secretary Robert Rubin and his deputy Lawrence Summers were known as the Committee to Save the World during the financial crises of the 1990s, today's duo may go down as the Committee to Save Wall Street From Itself. For the past several months, the Fed and the Treasury Department have pulled all-nighters dealing with three-alarm fires, from the demise of Bear Stearns in March to the rising concerns over the mortgage giants Fannie Mae and Freddie Mac.
Fannie and Freddie play a huge role in the mortgage business by lending cash and guaranteeing loans made by others. But with the spread of the mortgage crises their stocks have plummeted in recent weeks, and questions have been raised as to whether the government would do what it implied it would all along when it established the two government sponsored organizations: stand behind their debt. Bernanke and Paulson gave an emphatic "yes," as they described to occasionally hostile Congress members their plans to allow Fannie and Freddie to borrow money from the Federal Reserve, and to empower the Treasury Department to buy (and buoy) the companies' stock and stand behind their $5.2 trillion in debt. The prospective moves, along with some slightly better-than-expected earnings reports from banks last week, calmed the markets. The price for this desperately needed action is likely to be more regulation and oversight. Will the crisis inspire a fundamental restructuring of the vital, symbiotic relationship between Washington and Wall Street, as happened during the New Deal? Or will these responses prove a temporary blip, as when the government bailed out the savings and loan industry in the late 1980s? In short, is this 1933 or 1989?
On Tuesday and Wednesday, Federal reserve chairman Ben Bernanke, a scholar of the epic financial meltdown of the Great Depression, and... more -
Freddie Mac Flounders; CEO Awarded Millions
The disaster of the housing market has been well documented. Not only are home being abandoned, as people find that payments are beyond their means, companies like Fannie Mae and Freddie Mac financial trouble that these mortgage companies are in need of government rescue. The people will shoulder the economic burden.
In striking contrast, the Chief Executive Officer of Freddie Mac will be just fine:
“NEW YORK - Freddie Mac Chairman and Chief Executive Richard Syron pocketed nearly $19.8 million in compensation last year, according to a Securities and Exchange Commission filing Friday, even though the mortgage company’s stock lost half its value in 2007.”
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What is wrong with this picture? People are losing their homes. Stock value plummets. And the CEO is able to bank tens of millions of dollars.
At the risk of falling in what Senator Gramm might call the “whiners” camp, this just isn’t right. The consequence of being major part of a financial debacle is to be awarded millions and millions of dollars. How can that be justified, in any manner?
Catherine Forsythe The disaster of the housing market has been well documented. Not only are home being abandoned, as people find that payments are beyon... more -
High-street bank HBOS faces rights issue disaster
THE high-street bank HBOS will tomorrow admit to one of the most disastrous rights issues in corporate history when it concedes that as few as 10% of its investors took up its £4 billion share offer.
Its two underwriters, Morgan Stanley and Dresdner, will have to place £3.6 billion of shares over the course of Monday or Tuesday.
If they are unable to place the shares at the rights-issue price of 275p or above, they will be forced to take them on to their own balance sheets.
The two investment banks are thought to have sub-under-written about 40% of the issue but it still means they could be left with £1 billion worth of shares each.
Barclays said on Friday that only 19% of its investors took part in its £4.5 billion placing.
Last week as investors were making up their minds whether to subscribe for equity in HBOS, shares in the UK banking sector plunged on fresh concerns over the viability of some of America’s big banks.
Shares in HBOS dropped to 254p, well below the rights-issue price, providing little incentive for institutional investors to take part. It is thought that many retail investors, who account for 25% of the group’s investor base, shunned the issue.
It is expected that the low take-up will encourage regulators to shorten the time taken to conduct a rights issue.
When HBOS originally announced its rights issue two and a half months ago, it was seen as being heavily discounted against a share price that was then standing at 500p.
Since then the price has fallen sharply and the bank has been the victim of several scare stories about its finances.
Despite an investigation by the Financial Services Authority, the regulator was unable to establish who profited from spreading the rumours.
The revelation of the low take-up could put further pressure on HBOS shares. They closed on Friday at 282p, but the knowledge that a large percentage will have to be sold on the market could see them drift beneath the rights price. THE high-street bank HBOS will tomorrow admit to one of the most disastrous rights issues in corporate history when it concedes that a... more -
Spread Your Money Among Several Banks To Stay Fully Protected
On Monday morning, customers of the failed IndyMac Bancorp Inc. lined up at the thrift's retail branches to withdraw their hard-earned savings, rather than leave it in an institution that was being taken over by the Federal Deposit Insurance Corp.
It was too little too late, closing the barn door after the horses were gone. And their reaction was completely unnecessary.
The biggest irony of IndyMac's failure -- and it was the nation's second-largest independent mortgage lender and the seventh-largest savings and loan -- was that the branches had big signs telling customers "You can count on us," when in fact the only thing those consumers could rely on ultimately was the promise of FDIC insurance.
While it's understandable that consumers would want to get their money out of a failing bank, experts suggest that there is no real reason to make such a move, provided you fall under FDIC protection guidelines -- specifically holding no more than $100,000 per individually registered account.
(If you have two certificates of deposit in your name at the same institution and each is worth $75,000, you have exceeded the protection limit; if one was registered in an individual name and the other was registered jointly, however, the total amount would be protected because neither registration has exceeded the coverage limit.) See related story.
Show and tellers
When regulators stepped in last Friday, IndyMac customers experienced a brief disruption in the ability to get their money. While automated teller machines were working, they also capped the amount that a shareholder could withdraw electronically, limiting it to a few hundred bucks.
That's why customers had to wait around for Monday morning's opening to rush the bank and ask for their cash back.
By then, of course, they had full access to their money, up to the protection limits. If they had balances above the insured level, they could only access up to $100,000, with the rest being frozen until regulators sell IndyMac and see what's left. While the best-case scenario is full restitution and the worst case is a total loss, the truth is likely somewhere in the middle. That means months of foregone interest and lost opportunity, but not necessarily a big loss in principal.
"People rush to the banks out of an irrational fear," says Greg McBride, senior financial analyst at BankRate.com. "Only depositors who had an exposure more than the $100,000 limit really have to worry, because they are going to be standing in line waiting for a payout."
That's important to remember, in light of reports suggesting that the Federal Reserve has almost 100 banks on a "watch list" of potential candidates for the next bank failure/takeover. The list hasn't been released -- because it would spur a run on those institutions -- but analysts are quick to say they do not believe IndyMac was an isolated failure. Things will get worse before they are cleared up. On Monday morning, customers of the failed IndyMac Bancorp Inc. lined up at the thrift's retail branches to withdraw their hard-earned... more -
Mugabe sanctions hit UK media worker, same name = no wages
HSBC have taken the Zimbabwe sanctions a little far, freezing a London media workers wages, not once, but twice after they assumed she was related to Zimbabwe's dictator, Robert Mugabe.
Her company blamed a computer error for the first wage check getting frozen by the bank, so sent another, which was also frozen. Sam Mugabe explained that Mugabe is a popular name in Zimbabwe and that HSBC had apologised. HSBC have taken the Zimbabwe sanctions a little far, freezing a London media workers wages, not once, but twice after they assumed she... more -
Fed ready to aid investment banks
The Federal Reserve may extend into next year a facility that gives investment banks access to emergency cash if the financial turmoil persists.
The lending facility was put in place in March to stabilise the financial system as Bear Stearns collapsed.
Fed chairman Ben Bernanke also called on Congress to give the central bank more authority to supervise markets.
The Fed will issue new rules next week aimed at cracking down on dubious lending practices.
(End of excerpt)
Full article at link by BBC News
Photo: AP The Federal Reserve may extend into next year a facility that gives investment banks access to emergency cash if the financial turmoil... more -
Fed Seeks Sweeping New Powers
Federal Reserve Chairman Ben S. Bernanke, seeking to allay renewed concerns over the health of the nation's financial system, said the central bank may extend its emergency-loan program for investment banks into next year.
It's the first time Bernanke has indicated how long he'll extend the lending programs that were introduced in March in a provision of Fed credit to nonbanks unprecedented since the Great Depression.
The Standard & Poor's 500 Banks Index, a measure of 22 firms including Fannie Mae and Freddie Mac, the largest sources of U.S. home financing, fell to 155.48 yesterday, its lowest level since 1996.
Mean while the Fed is using this as an excuse to extend the powers of its agency
{source http://www.marketwatch.com/news/story/bernanke-seeks-ne...={7DFB82A4-1E02-4F50-B445-B8E68B8E0EFD}&dist=msr_4
Congress should consider giving the Fed power to set standards for capital liquidity holdings and risk management for investment banks, as it now does for commercial banks, Bernanke said.
In March, as market conditions worsened, the Fed established two lending facilities for primary dealers of government debt. One allows them to swap a range of illiquid assets for Treasury securities. The other facility provides cash to these broker-dealers in a system that is similar to its discount window for banks.
Bernanke said Congress might give the Fed broad power to promote financial market stability.
If Congress makes this choice, "I do not think the Fed could fully meet these objectives without the authority to directly examine banks and other financial institutions that are subject to prudential regulation.
Increased power for one agency typically comes at the expense of other agencies that have their own strong alliances with powerful members of Congress.
Although Treasury Secretary Henry Paulson has said that he would like to see Congress give the Fed more power to ease the fallout of financial market turmoil on the economy, it is another matter for an agency to be seen as seeking power for itself.
As a result, Bernanke bent over backwards to suggest, rather than demand, that the Fed get the broad new regulatory responsibilities he seeks, though his desire for the new powers was apparent. "
Two-year note yield rose (UST2YR) 3 basis points to 2.46%.
{source http://money.cnn.com/news/newsfeeds/articles/djhighligh... Federal Reserve Chairman Ben S. Bernanke, seeking to allay renewed concerns over the health of the nation's financial system, said the... more -
BIS warns of Great Depression dangers from credit spree
The Bank for International Settlements, the world's most prestigious financial body, has warned that years of loose monetary policy has fuelled a dangerous credit bubble, leaving the global economy more vulnerable to another 1930s-style slump than generally understood.
"Virtually nobody foresaw the Great Depression of the 1930s, or the crises which affected Japan and southeast Asia in the early and late 1990s. In fact, each downturn was preceded by a period of non-inflationary growth exuberant enough to lead many commentators to suggest that a 'new era' had arrived", said the bank.
The BIS, the ultimate bank of central bankers, pointed to a confluence a worrying signs, citing mass issuance of new-fangled credit instruments, soaring levels of household debt, extreme appetite for risk shown by investors, and entrenched imbalances in the world currency system.
(End of excerpt)
Full story at link by Ambrose Evans-Pritchard// Telegraph
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Image: Bank of International Settlements Headquarters by David Croll posted at Wikimedia Commons
http://en.wikipedia.org/wiki/Image:BankIntZahlungsausgl...
Licensed under GNU Free Documentation License
http://commons.wikimedia.org/wiki/Commons:GNU_Free_Docu...
The Bank for International Settlements, the world's most prestigious financial body, has warned that years of loose monetary policy ha... more -
Stakeouts, Lucky Breaks Snare Six More in Citibank ATM Heist
Citibank officials monitoring their network for fraud on Thursday, May 8, noticed suspicious ATM transactions at 8:30 p.m., coming through the five cash machines in the vestibule of a Citibank branch at 65th Street and Madison Avenue in New York City's Upper East Side.
As luck would have it, a bank employee -- probably a corporate security official -- was already staking out the branch from across the street.
Three months had passed since Citibank notified the FBI that a hacker managed to steal customer-account numbers and PIN codes, in an attack on a server that processes transactions from Citi-branded ATMs at 7-Eleven convenience stores. In late February and early March, the FBI and the U.S. Secret Service arrested two Ukrainian immigrants and two alleged co-conspirators for allegedly using the stolen PINs to steal $2 million in cash from unsuspecting Citibank customers.
But the arrests didn't stop the fraud, which sprang from perhaps the most serious computer intrusion into a bank system to date. The FBI has recently made at least six more arrests in New York -- bringing the total to 10 -- thanks to information from arrested scam suspects, a lucky traffic stop, and an undercover operation that at one point had Eastern European hackers chasing a female FBI agent through the streets of New York, trying to mug her for ATM-card-programming gear.
Six months after the 2007 breach, Wired.com is receiving scattered reports of Citibank customers still suffering mysterious withdrawals from their bank accounts.
The FBI believes the brains behind the operation is a Russian man, who's receiving the lion's share of the profits through international wire transfers and online-payment systems. While Citibank and federal officials are being closed-mouthed about the PIN theft and the ensuing fraud, the Citibank heist provides a rare look at how a single high-value breach reverberates through the international "carding" community of bank-card fraudsters. What's more, neither Citibank nor the third-party transaction processor involved in the breach has warned consumers to watch for fraudulent withdrawals, raising questions about the disclosure policies in the financial industry. Citibank spokesman Robert Julavits says the bank "has complied with all applicable notification requirements."
At the time of the May 8 transactions, Citibank -- the largest bank in the U.S. by holdings -- had been dealing with a spike in ATM thefts centered on the Upper East Side: Some $180,000 in stolen cash had walked out of ATMs in the upscale neighborhood in the previous three days.
Several of the withdrawals had come through the 65th Street branch, prompting Citibank to put the location under surveillance. When the Citibank official staking out the spot got a call alerting him to a theft in progress, he crossed the street to peer through the vestibule glass, and watched as a man in a baseball cap, jeans and a sports coat put a thick envelope into a briefcase and moved from one ATM to the next.
The official flagged down two nearby NYPD officers who'd already been briefed on the fraud, and the cops arrested 28-year-old Aleksandar Aleksiev. With his consent, they searched his bag and found six ATM-deposit envelopes stuffed with cash, and 12 blank cards with stickers on them and a different PIN code written on each. Citibank officials monitoring their network for fraud on Thursday, May 8, noticed suspicious ATM transactions at 8:30 p.m., coming thr... more -
Money as Debt
You might think the banks have "money" to lend.. Very informative video about where the banking system actually gets the power to lend "money". You might think the banks have "money" to lend.. Very informative video about where the banking system actually gets the power to len... more
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RBS issues global stock and credit crash alert
The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next three months as inflation paralyses the major central banks.
"A very nasty period is soon to be upon us - be prepared," said Bob Janjuah, the bank's credit strategist.
(End of excerpt)
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Full story at link
By Ambrose Evans-Pritchard, International Business Editor// Telegraph
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/...
Image by Reuters The Royal Bank of Scotland has advised clients to brace for a full-fledged crash in global stock and credit markets over the next thre... more -
CA Foreclosure Victims Share Difficulties with Countrywide
Troubled mortgage borrowers and their mortgage counselors continue to report that loan servicers do not respond to their requests for loan modifications. Thousands of borrowers who could have avoided foreclosure have lost their homes because their servicers were unwilling to work with them. In this short video, Countrywide borrowers share their difficulties in attempting to attain a loan modification from their loan servicer. Troubled mortgage borrowers and their mortgage counselors continue to report that loan servicers do not respond to their requests for ... more
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The capitalist conspiracy in ya face
Think conspiracies don't work??? They do indeed. It was a conspiracy that directed Brutus against Caesar in the Roman senate on the Ides of March. It was a conspiracy that plotted the betrayal of Westpoint by Benedict Arnold during the Revolution. It was a conspiracy that led John Wilkes Booth to the assassination of President Lincoln on Good Friday, 1865... John F. Kennedy, himself the victim of a conspiracy assassination WARNED us about it:
"...There is little value in ensuring the survival of our nation, if our traditions do not survive with it. And there is very grave danger, that an announced need for increased security, will be seized upon by those anxious to expand its meaning to the very limits of official censorship and concealment...we are opposed around the world by a monolithic and ruthless conspiracy that relies primarily on covet means for expanding its sphere of influence, on infiltration instead of invasion, on subversions instead of elections, on intimidation instead of free choice, on guerrillas by night instead of armies by day. It is a system which has conscripted vast human and material resources into the building of a tightly knit, highly efficient machine that combines military diplomatic intelligence economic scientific and political operations. Its preparations are concealed, not published. It mistakes are buried, not headlined. Its dissenters are silenced, not praised. No expenditure is questioned, no rumor is printed, no secret is revealed..." --President John F. Kennedy
There is an OFFICIALLY RECOGNIZED conspiracy that seeks world control through capitalist agendas (Monsanto, Microsoft, IBM, Blackwater, Haliburton etc), and most Americans are just flatly ignorant and/or (equally unbecoming) pridefully stupid about it:
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." --Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802), 3rd president of US (1743 - 1826)
"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments
by controlling the money and its issuance."--James Madison, the 4th President of the United States (1809-1817)
Consider also President Andrew Jackson's scathing evaluation of central banking:
"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the Eternal God, I will rout you out... If people only understood the rank injustice of the money and banking system, there would be a revolution by morning." ….
Andrew Jackson publicly pledging to defeat international monopolist bankers to their face in his speech. Jackson vanquished a global cartel in its plans for a privately owned “U.S.” central bank. A public murder attempt on Andrew Jackson failed shortly thereafter by a double misfire of the assassin’s pistols. Think conspiracies don't work??? They do indeed. It was a conspiracy that directed Brutus against Caesar in the Roman senate on the ... more -
Top bankers 'leaving US for Asia'
The number of high-flying investment bankers moving from the US to Asia is set to increase, experts have said, as a result of the credit crunch.
A senior Credit Suisse executive is the latest in a string of "dealmakers" to relocate from New York to Hong Kong.
Big takeover deals are scarce in the US and Europe as the credit squeeze has made it hard for firms to source funds.
But corporate activity has remained buoyant in Asia, driven by Chinese firms and foreign private equity.
'Follow the money'
According to Dealogic, which supplies IT solutions to the banking industry, the number of acquisitions by private equity in Asia - excluding Japan - rose 15% in the first quarter of the year while worldwide deals fell.
Vikram Gandhi, head of Credit Suisse's Global Financial Institutions Group, is moving to Hong Kong to personally oversee the firm's corporate finance business in the region.
Credit Suisse is a leading corporate adviser on merger and acquisitions in the region and is involved in deals, according to Dealogic, worth $12.5bn this year.
Mr Gandhi, who will continue to run the group's Americas business, will follow in the footsteps of executives from JP Morgan, Goldman Sachs and Blackstone Group who have also migrated to Asia in recent months.
"Investment bankers follow the money," said Scott Moeller, a Professor at the Cass Business School and former executive with Deutsche Bank and Morgan Stanley.
"With sovereign wealth funds having a lot of money, with Asia having escaped the worst of the credit crunch and with the crunch having hit the US and Europe the hardest, it is not surprising at all.
"Once you get critical mass in a location, it begins to snowball and that is what is happening in Asia."
Market competition
As investment banking profits are squeezed in US and Europe by the credit crunch, institutions are turning to Asia where many Chinese and Hong Kong firms are flush with cash, having raised capital by listing shares in recent times.
The dynamism of the Chinese economy and the attractiveness of Hong Kong as a financial centre meant this management trend was likely to continue even when financial markets returned to normality in the US and Europe, Professor Moeller added.
But indecision in China about how Hong Kong and Shanghai should compete as financial hubs was likely to ensure the former did not overtook London or New York, he said.
"I would be more worried if I was in a third tier financial centre like Paris or Frankfurt than in London or New York," he said.
"I don't think London or New York will be losing their crowns as leading financial centres any time soon."
The most recent Global Financial Services Centre Index ranked Hong Kong in third place behind London and New York. The number of high-flying investment bankers moving from the US to Asia is set to increase, experts have said, as a result of the cred... more -
Lowly bank clerk charged with bid to steal record breaking £70million from HSBC
A bank clerk has been charged with planning to steal a record-breaking £70million from his employers.
The amount dwarfs the £4.3million a Goldman Sachs secretary stole from her bosses in 2001-2002.
City of London Police have charged Jagmeet Channa with conspiracy to defraud, money laundering and abusing a position of trust at HSBC.
Sources said the 25-year-old from Ilford in Essex worked in a 'back office' at the bank's 42-storey headquarters in Canary Wharf.
As an admin clerk, he was not involved in trading or broking and merely ensured the records of trades were checked through at the end of the day.
It is understood that the alleged fraud involved moving money electronically from one account into another. A source said: "We picked up on this quickly and our systems acted as they should have done."
The suggestion that security at Europe's biggest bank was compromised is a major embarrassment for HSBC bosses.
A bank clerk has been charged with planning to steal a record-breaking £70million from his employers. ... more -
Bank of America Doesn't care about it's customers
The unfair business practices of Bank of America cost me more than just my money that was in their bank, it cost me my job.
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we are the government ( The Missing Link: The Matrix Unplugged )
http://www.blacksoulscience.com/ http://current.com/items/85024941_zeitgeist_the_movie
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