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hisah
#2881 Posted : Tuesday, December 11, 2012 5:05:24 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
HSBC and Standard Chartered to pay US over $2bn in charges - https://rt.com/business/...ndard-charter-fine-797/

Quote:
British banking giants have come under fire line from the US financial authorities. HSBC will pay a record $1.9bn to settle a money-laundering probe, with Standard Chartered getting a $327mn charge for violating US sanctions against Iran.

The fine against HSBC will include $1.25bn in forfeiture, as well as $655mn in civil penalties. In an attempt to cut costs and improve profitability, HSBC CEO Stuart Gulliver made the bank the matter for US probes and claims from UK clients. The lack of money-laundering controls at HSBC allowed terrorists and drug cartels access to the US financial system, according to Bloomberg.

The bank accepts responsibility for “past mistakes” and is “profoundly sorry for them,” Gulliver said.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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karanjakinuthia
#2882 Posted : Wednesday, December 12, 2012 9:30:02 AM
Rank: Member

Joined: 11/13/2006
Posts: 551
Location: Nairobi
"Like an improvident spendthrift, whose pressing occasions will not allow him to wait for the regular payment of his revenue, the state is in the constant practice of borrowing of its own factors and agents, and of paying interest for the use of its own money." Smith, Adam. Wealth of Nations. 1776.

World debt comparison. The global debt clock. An interactive overview of government debt across the planet:

http://www.economist.com...ntent/global_debt_clock

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hisah
#2883 Posted : Thursday, December 13, 2012 5:38:32 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Foregoing meals to buy airtime!?

http://www.standardmedia...ng-meals-to-buy-airtime

There has to be a way out of this quagmire - mobile telephony is now a basic need...

Then GoK taxes mobile money?! - http://www.businessdaily...66/-/em5qae/-/index.html
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Thursday, December 13, 2012 5:58 AM | Reason: Not specified
hisah
#2884 Posted : Thursday, December 13, 2012 4:24:19 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Assange to run for Australian Senate, start Wikileaks party - http://bit.ly/SWNSgJ

Quote:
Wikileaks founder Julian Assange says he intends to run for a seat in the Australian Senate in next year’s federal election and will announce the formation of a WikiLeaks party. He made the announcement from the Ecuadorian embassy in London.

Assange has been living in the embassy for the past six months, in an effort to avoid extradition to Sweden and possibly the US.

The whistleblower told Fairfax Media that plans to register the political party were “significantly advanced” and added that “a number of very worthy people admired by the Australian public” have expressed their availability to run for election on the party ticket.


This will be interesting. A fugitive forming a party and running for a senate position.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#2885 Posted : Thursday, December 13, 2012 5:12:52 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Standard Bank to sell China's ICBC 60% of 2 UK trading units - http://www.reuters.com/a...k-idUSL5E8ND4D220121213

At this rate Standard bank SA will become ICBC SA... Are we soon to see ICBC in EA where Standard Bank has a presence...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#2886 Posted : Friday, December 14, 2012 3:21:15 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Japanese operator in most frank admission over nuclear disaster - http://reut.rs/TZfkem

Quote:
The operator of a Japanese nuclear power plant that blew up after a tsunami last year said on Friday its lack of safety and bad habits were behind the world's worst nuclear accident in 25 years, its most forthright admission of culpability.

The operator, Tokyo Electric Power Co, said it accepted the findings of a parliamentary inquiry into the Fukushima nuclear disaster that accused the company of "collusion" with industry regulators.


643 days later TEPCO confesses and it is damning as it gets...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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youcan'tstopusnow
#2887 Posted : Saturday, December 15, 2012 7:00:25 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
youcan'tstopusnow wrote:
One of Kenya’s mid-sized
lenders, Dubai Bank, is facing a credibility storm after a former managing director made shocking revelations, detailing a web of irregular
transactions that have put close to Sh2 billion in
customer deposits at risk.
Ms Said has filed in court
numerous documents
alleging irregular
transactions by Mr Zubeidi.
The documents show that the banking sector regulator, the CBK was made aware of the suspect dealings at the
bank but no action has since been taken.
Ms Said also says in an
affidavit filed in court that Mr Zubeidi boasted to have the protection of senior CBK and Criminal Investigations Department (CID) officials making him untouchable.
CBK governor, Njuguna
Ndung’u, said the regulator had received the allegations by Ms Said in two letters dated November 23 and 29.
http://www.businessdaily.../-/uq4repz/-/index.html

Funny I just posted about rogue banks jana...

The saga continues...
http://www.businessdaily...6/-/vn3834/-/index.html
GOD BLESS YOUR LIFE
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murchr
#2888 Posted : Sunday, December 16, 2012 7:13:31 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
More gold in Kenya? http://www.standardmedia...ves-found-in-Trans-Mara given tis substandard, we have to wait for more confirmation from other sources
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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hisah
#2889 Posted : Monday, December 17, 2012 9:42:07 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Quote stuffing - Unbelievable that Credit Suisse admits that it is not a conspiracy theory as markets get rigged & raided everyday by HFT bots. This will open an interesting pandora's box for international prop trading desks who vehemently defend their HFT strategies with the support of market regulators.

So now we know of gold/silver manipulation and now HFT predators. Great swimming in this ocean now knowing where the shark tanks are located smile

http://www.nanex.net/aqck2/4022.html
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Monday, December 17, 2012 9:43 AM | Reason: Not specified
hisah
#2890 Posted : Monday, December 17, 2012 10:07:35 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
hisah wrote:
HSBC and Standard Chartered to pay US over $2bn in charges - https://rt.com/business/...ndard-charter-fine-797/

Quote:
British banking giants have come under fire line from the US financial authorities. HSBC will pay a record $1.9bn to settle a money-laundering probe, with Standard Chartered getting a $327mn charge for violating US sanctions against Iran.

The fine against HSBC will include $1.25bn in forfeiture, as well as $655mn in civil penalties. In an attempt to cut costs and improve profitability, HSBC CEO Stuart Gulliver made the bank the matter for US probes and claims from UK clients. The lack of money-laundering controls at HSBC allowed terrorists and drug cartels access to the US financial system, according to Bloomberg.

The bank accepts responsibility for “past mistakes” and is “profoundly sorry for them,” Gulliver said.

From a different perspective - www.rollingstone.com/pol...g-war-is-a-joke-20121213

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Monday, December 17, 2012 10:10 AM | Reason: Not specified
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