Is Geithner Covering Up Massive Bank Fraud?

Monday, April 06, 2009

A former federal litigator who investigated the savings and loan scandal of the 1980s has accused Secretary of the Treasury Timothy Geithner of being a part of cover-up attempts by banking executives to conceal large-scale fraud that has left many banks virtually insolvent. William K. Black, now a professor of economics and law at the University of Missouri-Kansas City, said in an interview with Bill Moyers that banks and credit agencies conspired to allow “liars loans” to receive AAA ratings and zero oversight, creating a massive “fraud” at the core of the current fiscal crisis. Black also accused Geithner of helping keep the truth of this fraud from being revealed. Asked by Moyers if Geithner and others were trying to conceal the truth, Black replied, “Absolutely, because they are scared to death” to admit the truth that “many of the large banks are insolvent.”

 
Black, the author of the 2005 book The Best Way to Rob a Bank is to Own One, points out that when the Treasury Department bailed out AIG, AIG gave $2.5 billion of the funds it received to the Swiss Bank, UBS, which was then able to pay a fine of $782 million charged by the Justice Department for helping American clients evade taxes in the United States. As Rep. Olympia Snowe (R-Maine) said at the time, “It looks like we’re simply laundering money through AIG.”
-Noel Brinkerhoff, David Wallechinsky
 
William K. Black: CSI Bailout (Bill Moyers Journal)
Senator Outraged over AIG Funneling $2.5 B to UBS (by Neil Roland, InvestmentNews)

Comments

jack loach 5 years ago
Sods ----- Law. Sept.---- 2014. For almost two decades we have strived to get justice for the injustice we have suffered at the hands of a world renowned bank--- PICTET & CIE. BANK. Two yorkshiremen both running their own small family businesses trying to resolve the problem by taking all the correct legal procedures to recover their monies. The matter was raised in Parliament – twice-- the FSA investigated the matter concluding that PICTET had rogues operating in their London Bank --- but the rogues had left ---saying no one left to prosecute.??? ----- so there. We then approached the Financial Ombudsman Service. (FOS) --- our case was dealt with by seven different people ---- then our numerous E-Mails were ignored --- nobody would speak to us -------so there. We then asked the SFO ( Serious Fraud Office.) to investigate our case ---- the criteria of our case ticked all their boxes. --- we were instructed not to send them any documents/evidence.------ in fact they wrote to us advising us to go to the Citizen's Advice Bureau.(CAB.) Richard Alderman the SFO boss ---- who responded to our letter was the same man who would not investigate the “ Madoff” scandal or the “Libor” fiasco. The MP's committee ---- said he was sloppy--- and the SFO was run like “ Fred Karno's Circus” ----- it was an office of fraud.----- so there. Our M.P. approached our local Chief Constable to investigate----- he was called---- Sir Norman Bettison--- Chief Constable of West Yorkshire Police ---- a force that made “ Dad's Army” look like the S.A.S. They were inept – corrupt ---malicious --- from top to bottom. We were criminally dealt with by the Forces Solicitor---- the Head of the Economic Crime Unit ----and the Chief Constable ----- so there. We were then advised to pass our complaint against West Yorkshire Police to the I.P.C.C. – which we did --- they advised us to make our complaint to ---- the West Yorkshire Police --- we did with reluctance --- all we got was abuse and obfuscation. ----- so there. Sir Norman Bettison ---- The Forces solicitor--- and the Head of the Economic Crime ---- have all been removed from their posts and facing criminal allegations. ------ so there. We even sought justice through the Courts --- culminating in a visit to the Court of Appeal-London.--- On leaving the Courts of Appeal that day our barrister a “rising star” informed us --- that if that was British Justice then you can keep it. He quit the law and moved to Canada ----- so there. A few years later we learned that one of the judges ( Lord Justice.) in our case at the Court of Appeal was related to a senior executive of the Pictet Bank -----so there. The Ministry of Justice passed our case to Lord Myners to investigate --- we would rather have had Mickey Mouse or Donald Duck do it. --- to this day we don't know ---whether he did anything or not ---- probably not --- seeing that his wife was on the Pictet Prix Board. Pictet & Cie .Bank --- voted private bank of the year 2013. Ivan Pictet ---- Voted banker of the year 2012. ---- the senior partner --- lied on numerous occasions and had documents destroyed --- also said genuine documents were forgeries. ----- so there. Ivan Pictet in Oct. 2013 ---- Given the Legion of Honour --- but saying that ---- honours were given to Hitler --- Eichmann --- Mussolini ---Franco --- he's in fitting company. ----so there. MONTY RAPHAEL.Q.C. -- Peters & Peters.London. They were the banks lawyers. Monty Raphael.Q.C. along with Ivan Pictet withheld crucial documents requested by the High Court ---- the FSA ---- and the police Fraud Squad. ----so there. Monty Raphael.Q.C. became an Honorary Queens Counsellor in March. 2012. Monty Raphael.Q.C. became a Master of the Bench in Nov.2012. An expert in Fraud ---the Doyen of Fraud Lawyers. ----- so there. This says a lot about Banks --- the consensus of opinion is that they are highly paid “crooks” ---- no wonder they voted Ivan Pictet banker of the year. It appears that crimes in the “establishment.” are honoured by their peers. “HONOURS AMONG THIEVES.” Full Story.---- “google ” Insert. Ivan Pictet.Banker. Monty Raphael.Q.C. Ivan Pictet/Monty Raphael.
jack loach 7 years ago
pictet & cie. bank – list of crimes. 1996 ---- breach in london. 2003 --- fsa --- states rogues operating in pictet’s –london office . ivan pictet said documents were forgeries but were lated proved to be genuine. had documents held in london office destroyed. 2007 --- japan. ---- the securities and exchange surveillance issued a recommendation that the prime minister and the commissioner of the fsa to take disciplinary action against pictet asset management. japan ltd. 2008 --- dec. ---pictet bank state --- “ we have never chosen any funds linked to madoff.” 2011 --- madoff trustees sue pictet & cie. for $156 million. 2011--- bank at centre of bribery and money laundering case. being sued for $350 million. ( in u.s.a.) 2012.--- geneva bank pictet used in offshore tax scheme. u.s. authority states.
jack loach 7 years ago
the criminal super class. bankers. lawyers. police. over approximately five years of hitting the internet with a case that involves criminality by a major swiss bank , britain's most prominent fraud lawyer and a regional police force headed by one of britains top policeman. ( surely justice should prevail.) in fact the complete opposite even though the offences committed are very serious. conspiring to pervert the course of justice. perverting the course of justice. contempt of court.------------------ plus a dozen or so smaller offences. in the five years some 6-7million e-mails have been forwarded to all members of parliaments in britain and switzerland, every barrister and chambers in europe . every law inforcement body in both countries , and america. even raised in parliament twice. the banking fraternity ( somewhat freemason-ish) fully aware of this case still decide to give the private banker of the year award to ivan pictet --- pictet & cie bank. ( him being the person most responsible for the crimes committed by him and his bank partners. ) the legal fraternity ( very freemason -ish ) decide that monty raphael of peters & peters . london become an honourable queens counsellor and to rub the salt in six months later made a master of the bench. he also was guilty of all the above offences but so what. at this rate he might become king by the end of the year. the police ( west yorkshire police.) headed by sir norman bettison has not improved as a force on fighting crime. they are now worse than the days of the yorkshire ripper , when they had him in custody nine times and let him go. if it hadn't been for the south yorkshire police force catching the ripper he would have still been at large to day . then they wonder why the man in the street becomes angry and decides to riot. all we can do is to continue pressing for justice and up the pressure on the internet for the next five years and beyond.
jack loach 8 years ago
*** were currently waiting to see if the west yorkshire police :- (1) chief constable ---- sir norman bettison. (2) forces solicitor ---- mike percival. (3) head of economic crimes unit.--- det. chief inspector steven taylor. -- continue to attempt to cover this case up like their f.s.a. counterparts. if they do “ watch this space”) we have recently been informed that due to pressure from our m.p. that the ministry of justice have asked lord myners to investigate our claims that the f.s.a. covered up the illegal activities of pictet asset management. london. they might as well have asked ivan pictet to investigate .or friends reunited. lady myners on prix pictet board. the consensus of opinion is the pictet & cie should be prosecuted , and that their banking licence’s should be taken away in the u.k. ( and fined.) their solicitors at peters & peters --- struck off and prosecuted.. in america they would have all been in prison for the last seven years. west yorkshire police .. we note that det chief inspector steven taylor has been removed as head of the economic crime unit and demoted to det. inspector. ( one down two to go.) a file of some 339 pages including scores of documentation has been forwarded to the following --- aug 4-6th .2011. 640 --- members of parliament. 460 --- members of the house of lords. ministry of justice. f.s.a. – financial services authority. serious fraud office, peters & peters .london. -- solicitors. pictet & cie bank --- london & geneva. west yorkshire police authority. i.p.c.c.--- independent police complaints commission. c.c.r.c. --- criminal cases review commission. swiss ambassador london.
jack loach 9 years ago
Update. 17th Feb.2010. PARTNERS IN CRIMES. Pictet & Cie Bank. Ivan Pictet. Nicolas Pictet. Jacques de Saussure. Jean – Francois Demole. Renaud de Planta. Philippe Bertherat.. Pictet & Cie.- claim they are the “Rolls Royce”of swiss banks. Swiss Banks or more correctly Swizz banks. Swizz. ---- “ a great disappointment.” or a “ fraud.” Fraud. ---“ an intentional deception or dishonesty.”— “a crime.” Crime. ---“ an act committed or omitted in violation of a law.” Serious Crimes . Conspiring to pervert the Course of Justice. Perverting the Course of Justice. Contempt of Court. Swiss Criminal Code. Article. 162. Swiss Criminal Code. Confidential Business Information. Article. 320. Swiss Criminal Code. Occupational Confidentiality. Article. 97. Swiss Criminal Code . – to compensate for damages incurred for “ violating its duty of secrecy.” Fine and imprisonment for the banker pursuant to the banking act and criminal code. Damages for the client pursuant to the duty of care. *** The Swiss Public Attorney automatically begins prosecution as soon as the offence is made known. ( the exception being). The Rolls Royce of Swiss Banks. ( Swizz Banks.) Pictet & Cie.------- Ivan Pictet. Nicolas Pictet. Jacques de Saussure. Jean - Francois Demole. Renaud de Planta. Philippe Bertherat. They have broken both the Federal Laws and Banking Laws of Switzerland. Also breaking English Law seems of no relevance to them even though they have three international financial operations in the centre of London. Pictet & Cie Bank & Peters & Peters. The bank and it’s officials deliberately withheld crucial documents requested under a High Court order.The bank and it’s officials deliberately withheld evidence from the Police , and one of it’s account managers Susan Broadhead gave a false witness statement to the police. Another one of it’s managers Nicholas Campiche ( Now Head of Pictet – Alternative Investments.)concocted a letter pretending to be a client and closed his account. The senior partner (Ivan Pictet.)sought to have numerous documents destroyed,along with those copies held in their London office of P.A.M. Initially stating that they were forgeries then their lawyers Peters & Peters – Monty Raphael – and the barrister Charles Flint.Q.C.) –later had to admit in Court that the documents were genuine. British Parliament. Hansard .29th March 2007. Barry Sheerman .M.P.—quote. ---------“ Constituents of mine have lost £2 million through fraud. The fraudster used Pictet & Cie - - a French Bank - - and Pictet Asset Management to back the fraud being perpetrated.”” (1) It is a criminal offence for a bank to knowingly act for an undischarged criminal bankrupt in so far as it seeks to assist that criminal bankrupt in the fraudulent movement of monies. ( Money Laundering.) (2) It is a criminal offence for a bank to lie to the police and the bankrupts trustee in bankruptcy in so far as any knowledge of, or dealings with the bank was refuted . (3) A bank can be guilty of Contempt of Court if it fails to comply fully with the Courts order for discovery . (4) The banks contempt is further compounded if it fails to address its error after it is specifically drawn to the to its solicitors attention. ( Monty Raphael). (5) It is a criminal offence under the Financial Services Act to seek to destroy evidence that might be relevant to an investigation . (6) It is a criminal offence not to relinquish control of funds to the Trustee immediately the fact of the bankruptcy is drawn to the banks attention. (7) It is a criminal offence to lie or otherwise obfuscate the lawful and proper enquiries of the F.S.A. In the F.S.A. cover up , they concluded that there had been “ Rogue” elements in Pictet & Cie’s , London operations . They had been moved from their London Office so who was there left to prosecute. “ Unbelievable.” On Dec 9th,2008. the complaint was sent to 150 Members of the House Of Lords and 230 Members of Parliament. *** We thank --David Cameron. M.P. ( Canary Wharf Speech.) Dec. 15th. 2008. (1) Bankers who behave irresponsibly should face professional consequences. (2) If anyone is found to have behaved criminally they must be prosecuted. (3) The F.S.A and the Serious Fraud Office should be following up every lead, investigating every suspect transaction . (4) We need to make it 100% clear –those who break the law should face prosecution. (5) That we make sure we root out any wrongdoing that may have happened, whoever is involved, however high or well connected they may be. Serious Crimes . Conspiring to pervert the Course of Justice. Perverting the Course of Justice. Contempt of Court. The Establishment “ Cover up crimes”. The ‘Doyens’ of the establishment.’ ( Ivan Pictet and Monty Raphael.) Ivan Pictet. Managing partner in Pictet & Cie Bank . * 5th Feb. 2010. to retire from bank. President of the Geneva Financial Centre. World Bank.committee member. United Nations. Investment Committee member, Vice President – Global Humanitarian Forum. Member of the Henokiens. Blackstone Group --- Board Member. Past- President – Geneva Private Bankers association. Past –President – Geneva Chamber of Commerce and Industry. Monty Raphael. ( Peters & Peters.) Quote.” ---- Doyen of U.K. Fraud lawyers. Head of Fraud and Regulatory Dept. Steps down as Head. May 2009. Member of Board of Directors of the Fraud Advisory panel. Member of the Law Society of England & Wales. International Bar Association Member. Past President—London Criminal Court Solicitors Association. Past Chairman ---of Anti Corruption Committee. Founder of Business Crime Committee of the International Bar Association. Written Parliamentary Questions received by the table office .. (1) To ask the secretary of state what steps he is taking to ensure that Swiss Banks such as Pictet & Cie do not evade criminal prosecution under EU law even when the illegal act is committed by a London based subsidiary. (2)To ask the secretary of state what steps he is taking to protect the rights of UK citizens who seek redress following criminal activities by Swiss banks with subsidiary offices located in London. On Dec 9th,2008. the complaint was sent to 150 Members of the House Of Lords and 230 Members of Parliament. On Aug 19th.2009.another complainants file regarding the “cover up” was forwarded to the same 380 members. We started our campaign in June 2008 -- via the “net” to highlight our fight to get “justice”. In our second year campaign we hoped to reveal further damning evidence . Due to there being an on going Police investigation into our complaint we are at this moment unable to place dozens of documents on to the “net”. Again we thank other “ E- Mailers” for their information in relation to our campaign. Quote. ( America’s Top Lawyer .) You can be the richest man in the world with the best lawyers that money can buy but you cannot win against a man who has got nothing left to lose and is telling the truth. • Ivan Pictet. Announces stepping down from Pictet & Cie. 5th Feb 2010. • Monty Raphael. Steps down as head . May. 2009. Full Story. Go to search box on “Google” and insert ( Ivan Pictet / Monty Raphael) or insert ( Pictet & Cie / Monty Raphael ) - - then try it on “Yahoo”. Or try on Yahoo. - - - ( Charles Flint Q.C.) and ( Nicholas Campiche.)
peter humphries 9 years ago
Swiss Banks. & other offshore banking countries. Secrecy.-----. Secret numbered accounts. The benefits to the bank are far greater than the benefits to the client . The funds are easy to deposit but very difficult to withdraw. You can/might be paid the interest accrued but don’t ask for the capital. This type of banking facilitates crime. ( a place to hide criminally obtained monies.) Category. A. Drug Trafficking , Arms Dealing. International Fraud. B. Organized Crime. Serious Fraud . C. Tax Evasion . ( Income Tax – V.A.T—Corporation tax. Etc. 60% of the funds held in these banks fall into Categories A & B. 20% of the funds held in these banks fall into Category. C. _______________________ If you have monies in one of these banks. ( either legal or illegal monies.) Remember. ( do not die.) Even if you have told your wife about your “secret account.” or your children , or solicitor ,or left documents with your Will , it is impossible for them to claim the monies from that account. ( clever these banks.) Do you recall. ( Don Johnson--- in TV Show . Miami Vice.) In 2003 he and three associates were sent by American Business Organisations to withdraw £,6.000,000,000. ( six billions.) from the accounts they had in Swiss Banks. (in bonds- securities etc.) I wonder how the police on the Swiss border knew to stop their particular car that day after they had been to the Swiss banks . They were searched and arrested. Don and his friends made a mistake . They should not have asked for their monies back from the Swiss Banks.( clever these banks.)
jack loach 10 years ago
Pictet & Cie Bank. Ivan Pictet. Nicolas Pictet. Jacques de Saussure. Jean – Francois Demole. Renaud de Planta. Philippe Bertherat.. Pictet & Cie.- claim they are the “Rolls Royce”of Swiss banks. Swiss Banks or more correctly Swizz banks. Swizz. ---- “ a great disappointment.” or a “ fraud.” Fraud. ---“ an intentional deception or dishonesty.”— “a crime.” Crime. ---“ an act committed or omitted in violation of a law.” Serious Crimes . Conspiring to pervert the Course of Justice. Perverting the Course of Justice. Contempt of Court.
jack loach 10 years ago
Madoff and Stanford. will spend the rest of their lives in prison. At least this is a start . Yet what about the “ Bankers.” who have caused people to lose their savings ,pensions , jobs , houses and in some cases their lives .Yet they continue to live in luxury. Pictet & Cie.- claim they are the “Rolls Royce”of Swiss banks. Swiss Banks or more correctly Swizz banks. Swizz. ---- “ a great disappointment.” or a “ fraud.” Fraud. ---“ an intentional deception or dishonesty.”— “a crime.” Crime. ---“ an act committed or omitted in violation of a law.” Serious Crimes . Conspiring to pervert the Course of Justice. Perverting the Course of Justice. Contempt of Court. The Establishment “ Cover up crimes”. The ‘Doyens’ of the establishment.’ ( Ivan Pictet and Monty Raphael.) Ivan Pictet. Managing partner in Pictet & Cie Bank .--- Switzerland. President of the Geneva Financial Centre. World Bank.committee member. United Nations. Investment Committee member, Vice President – Global Humanitarian Forum. Member of the Henokiens. Blackstone Group --- Board Member. Past- President – Geneva Private Bankers association. Past –President – Geneva Chamber of Commerce and Industry. Monty Raphael. Quote.” ---- Doyen of U.K. Fraud lawyers. Consultant & Head of Fraud and Regulatory Dept. Member of Board of Directors of the Fraud Advisory panel. Member of the Law Society of England & Wales. International Bar Association Member. Past President—London Criminal Court Solicitors Association. Past Chairman ---of Anti Corruption Committee. Founder of Business Crime Committee of the International Bar Association. Pictet & Cie Bank & Peters & Peters. The bank and it’s officials deliberately withheld crucial documents requested under a High Court order.The bank and it’s officials deliberately withheld evidence from the Police , and one of it’s account managers Susan Broadhead gave a false witness statement to the police. Another one of it’s managers Nicholas Campiche ( Now Head of Pictet – Alternative Investments.)concocted a letter pretending to be a client and closed his account. The senior partner (Ivan Pictet.)sought to have numerous documents destroyed,along with those copies held in their London office of P.A.M. Initially stating that they were forgeries then their lawyers Peters & Peters – Monty Raphael – and the barrister Charles Flint.Q.C.) –later had to admit in Court that the documents were genuine. (1) It is a criminal offence for a bank to knowingly act for an undischarged criminal bankrupt in so far as it seeks to assist that criminal bankrupt in the fraudulent movement of monies. ( Money Laundering.) (2) It is a criminal offence for a bank to lie to the police and the bankrupts trustee in bankruptcy in so far as any knowledge of, or dealings with the bank was refuted . (3) A bank can be guilty of Contempt of Court if it fails to comply fully with the Courts order for discovery . (4) The banks contempt is further compounded if it fails to address its error after it is specifically drawn to the to its solicitors attention. ( Monty Raphael). (5) It is a criminal offence under the Financial Services Act to seek to destroy evidence that might be relevant to an investigation . (6) It is a criminal offence not to relinquish control of funds to the Trustee immediately the fact of the bankruptcy is drawn to the banks attention. (7) It is a criminal offence to lie or otherwise obfuscate the lawful and proper enquiries of the F.S.A. On Dec 9th,2008. the complaint was sent to 150 Members of the House Of Lords and 230 Members of Parliament. *** We thank --David Cameron. M.P. ( Canary Wharf Speech.) Dec. 15th. 2008. (1) Bankers who behave irresponsibly should face professional consequences. (2) If anyone is found to have behaved criminally they must be prosecuted. (3) The F.S.A. and the Serious Fraud Office should be following up every lead, investigating every suspect transaction . (4) We need to make it 100% clear –those who break the law should face prosecution. (5) That we make sure we root out any wrongdoing that may have happened, whoever is involved ,however high or well connected they may be. Quote. ( America’s Top Lawyer .) You can be the richest man in the world with the best lawyers that money can buy but you cannot win against a man who has got nothing left to lose and is telling the truth. In June.2009 .it will be exactly a year since we started our campaign via the “net” to highlight our fight to get “justice”. In our second year campaign we will reveal further damning evidence . We again thank other “ E- Mailers” for their information in relation to our campaign. Full Story. Go to search box on “Google” and insert ( Ivan Pictet / Monty Raphael) or insert ( Pictet & Cie / Monty Raphael.) - - then try it on “Yahoo”. Or try (Jack Loach/ Ivan Pictet.)

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