Banks: America’s Most Corrupt Institutions
- Laundered courtesy of Wachovia and Wells Fargo with the complicity of the United States Federal government!
By Madison Ruppert
Editor of End the Lie
Just in case you weren’t convinced that big banks were slimy, corrupt, and wholly deplorable institutions run by individuals who have zero moral compass, today the second recent instance of banks getting caught laundering Mexican drug money occurred. Actually, I should correct myself, in the case of the 2010 incident with Wells Fargo, they admitted it. Apparently, the big banksters don’t get enough of writing loans they know people can’t repay or employing illegal tactics and forging paperwork in order to steal Americans’ homes and put them on the streets. The recent hacking of Bank of America employee’s e-mails by Anonymous confirmed this fact.
Americans were robbed blind by a fraud scheme that makes Madoff look like a saint. The craziest part? The engineers seem to walk away without so much as a slap on the wrist.
Absurd amounts of banks have been involved in these mortgage scans but even more disgusting is that banks like Wachovia, now taken under the Wells Fargo umbrella, routinely laundered billions of dollars for Mexican cartels. If this isn’t proof positive that the entirety of the banking industry is completely corrupt, I don’t know what is:
Criminal proceedings were brought against Wachovia, though not against any individual, but the case never came to court. In March 2010, Wachovia settled the biggest action brought under the US bank secrecy act, through the US district court in Miami. Now that the year’s “deferred prosecution” has expired, the bank is in effect in the clear. It paid federal authorities $110m in forfeiture, for allowing transactions later proved to be connected to drug smuggling, and incurred a $50m fine for failing to monitor cash used to ship 22 tons of cocaine.
More shocking, and more important, the bank was sanctioned for failing to apply the proper anti-laundering strictures to the transfer of $378.4bn – a sum equivalent to one-third of Mexico’s gross national product – into dollar accounts from so-called casas de cambio (CDCs) in Mexico, currency exchange houses with which the bank did business. [My emphasis]
This was revealed in a Guardian article published on April 3rd that detailed how the bank had been aware since 2004 yet obviously had no qualms about enabling some of the most violent and ruthless criminal organizations on Earth. These are the same groups responsible for over 28,000 murders since 2006 according to the NY Times. The government of the United States of America is completely complicit in continuing this violence in Mexico as well as America. It is sad to say, but what used to be our government has become the most corrupt and evil group of Wall Street insiders and sycophants to the elite. There is no regard for human life and forget about morals or ethics, this is a business, and they’re in it to accumulate as much wealth as possible.
Don't forget to give Bernanke his cut!
They actively enable the drug trade by using the ATF to bring guns into Mexico, which end up killing federal agents, then they clean the money for the cartels so they can continue the cycle. Meanwhile in America they actively seek to incarcerate as many users of their product as possible in order to fill the private prisons with even more men and women. Don’t forget the rampant overcrowding and abysmal recidivism rates. Prison is college for criminals and if one even takes a moment of thought and considers why they make absolutely no effort to rehabilitate convicts it makes complete sense: repeat customers. The more people they can convict for buying, using and selling their product, the more people they can force taxpayers to pay them to incarcerate knowing that they will only leave their private prison not able to find any employment and resorting to their product once again.
Where do you think the cartels get all of these automatic weapons in pristine condition? You guessed right, the Beaureau of Alcohol Tobacco and Firearms!
Something has to give here, the dollar keeps losing value, commodities keep gaining along with precious metals, no new jobs are being created, in fact Obama is making an active attempt to move as many jobs out of America as possible. The Obama administration doesn’t even bother trying to hide these detrimental decisions like the younger Bush did. In fact, Obama enjoys throwing it in the American peoples’ faces that he is nothing more than a Wall Street puppet serving his bankster overlords and the infamous George Soros. This editorial I read recently put it quite well,
Recall that in 2009, the Obama Adminstration committed $2 billion from the U.S. Export-Import Bank to drill for oil off Brazil’s coast. Coincidentally, just a few days before that announcement, Soros sold 22 million shares of Petrobas stock, Bloomberg News reported, and bought 5.8 million of its shares traded in the United States. [Original source link is dead.]
As the days go by the corruption and lies perpetrated by the American government and their string-pullers get more blatant: now war is “kinetic military action”, occupying forces are “humanitarian aid”, and al Qaeda is our friend (but they’re still trying to kill all of us). What will it take for Americans to stop watching Dancing with the Stars for a minute and think about how far down this dark road we have already traveled and how far we really want to go. I can’t speak for everyone but I think there are many people who don’t think kindly of the active enabling of murder, drug pushing, robbing Americans blind, waging war on the middle class while emptying our already barren coffers. I just hope that the American people will wake up because this is getting worse by the day, not by the year like it had been.
UPDATE: dead links fixed.
Madison Ruppert is a Los Angeles-based independent journalist and researcher as well as the founder, owner, administrator and editor of EndtheLie.com. He has no affiliations with any government agencies, political parties, non-governmental organizations, or economic schools. He is available for freelance writing assignments and appearances or interviews in any format. He can be reached by emailing
Unfortunately for the public, most people don’t understand economics and so, don’t think they know how to protect themselves from the criminal financial sector. Unfortunately for the financial sector, the public understands hunting and lynching. Every financial institution is near a large number of lamp posts. You don’t need to be an economist to know where they are and who should be used to decorate them. Body guards don’t want to be in the way when the BIG s#^t hits the fan and the military and police are among the banker’s victims. Ultimately, the criminal rich (they aren’t all guilty, just most) have the same weaknesses as street criminals: blind greed and short sighted sociopathic self interest. They’re ultimately cutting their own throats. We’re wise to them and we won’t put up with it much longer.