Russia, Iceland & Afghanistan Stand Alone as the Only Nations with International Arrest Warrants out for Bankers Who Committed Fraud

JUSTICE, CAPITALISM, BRICS, CENTRAL ASIA, EUROPE, ECONOMICS, 11 Jul 2011

stacyherbert, maxkeiser.com – TRANSCEND Media Service

Stacy Summary: This is in response to trolls on our Keiser Reports the last two episodes, who claim for some reason that by not covering the Bank of Moscow bailout on our tv show we are somehow avoiding the story because the show airs on a Russian financed broadcaster. Well, the story for the most part, reflects nicely on Russia so I don’t get their argument that there is some sort of conspiracy: From what I can tell, Russian authorities protected depositors, have isolated the bad loans while keeping the good part operating AND MOST IMPORTANTLY – have an international arrest warrant out for the banker responsible! Can you say the same of Dick Fuld? Jimmy Cayne? Angelo Mozilo? Lloyd Blankfein? Sean Fitzpatrick? Fred Goodwin? Etc. Etc.

The fact is that Russia now joins Iceland and Afghanistan as the ONLY nations to have international arrest warrants out for banking thieves. This is our single most urgent concern in all the banking disasters around the world – justice. Without justice, these banking crime waves will not stop. The Bank of Moscow fraudster is hiding out in London and will no doubt live it large there thanks to London’s safe haven status. Icelandic bankers are also hiding out in London after fleecing their country with ‘loans’ to close friends and family.

Now on to the math. A $14 billion bailout of a retail bank is large, but compare that to Ireland from which these trolls wish to take our attention. Russia has a $1.25 trillion economy with steady income stream from oil at $100 / barrel. Ireland has a $230 billion economy that is rapidly shrinking and that relies on IMF loans and capital markets. Russia bailed out the Bank of Moscow – a bank with RETAIL deposits – for $14 billion. Ireland bailed out Anglo Irish Bank – an almost ENTIRELY commercial lending operation – to the tune of $50 billion. Do I really have to do the math for EVERY troll on the internet? Furthermore, of $14 billion for the Bank of Moscow’s bailout – $10 billion comes from the Deposit Insurance. And it comes in the form of a 10 year loan. Anglo Irish was ‘bailed out’ by transferring the entire toxic balance sheet of Anglo Irish to the public.

The FDIC in the US has similarly taken over hundreds of banks since 2008. We’ve covered maybe two or three of those. Notice in this list that just in the last three months these banks collapsed. Have you heard us mention these? The insurance is there to do exactly what they are doing, secure the deposits and isolate the bad loans from the rest of the bank. It is the investment banks like Goldman Sachs (which we now learn received the biggest Fed loan of all) that issue trillions in uncollateralised derivatives that destabilizes the entire global financial system causing millions of people to lose their sovereignty, all while living on free money from the Fed and Treasury that is far more urgent and relevant to more around the world.

We have 13 minutes to cover headlines and trolls think this bailout is more important than the Irish story I highlight above; or, more importantly, the fact that Greece over the past three weeks have had epic protests, riots and austerity measures. They are now in talks for another $150 billion loan on top of the last $150 billion loan for a $330 billion economy. 100% of GDP to the IMF. The Parthenon, their islands sold off to the lowest bidders. But trolls would rather harass us to cover a local bank in Moscow that was defrauded by some scamster hiding out in London.

Yeah, we’ll turn away from Greece to cover that troll.

Go to Original – maxkeiser.com

 

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