Stanford Fraud ? How About The Majority of the US Banking System Being A Fraud ?

[libertad]

The Stanford case is a fraud because....

1) The underlying investments were not representative of those which met regulatory standards....

2) Interest payments were made from fresh funds ie a ponzi scheme ?

And the largest US banks did not do the same ?
Money is fungible....

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The bottom line ?

The majority of US Banks have perpetrated a complex grand fraud against all depositors....

Or I suppose the 30:1 leverage of CCC instruments is an "ok" practice with trusted depositors funds ?

And I suppose "fiduciary responsibility" and "suitability" are just passing fads ?

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It can easily be argued that the largest US banks have participated in the grandest fraud "ponzi" scheme of all time....

And what does the US govt do ?

Grants them $Trillions more ?
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Hello ? Anybody home ?
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No bank can endure a "run on the bank "....

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Both too big to fail....

And too big to jail....

 

[jueco2005]

Interesting..............soon banks will be something of the past.

 

[crgarcia]

Quote from libertad:


It can easily be argued that the largest US banks have participated in the grandest fraud "ponzi" scheme of all time....

And what does the US govt do ?

Grants them $Trillions more ?

Agree, banks are ponzis.

However gov't gives them LOANS, not gifts.
Of course some banks will never be able to repay.

Wait, I said "some banks"?
Maybe I should say "most banks"
:eek: