RBS: doing Fine, not Time

Today RBS report losses of over £5.2 billion and bonuses of £600 million plus.

2011 RBS fined for ‘Mis-Selling Insurance’ – fraud.

2012 RBS fined for ‘Mis-Selling PPI’ – fraud.

2013 RBS fined for ‘Mis-Selling Rate Swaps’ – fraud

2013 RBS fined for ‘LIBOR Misconduct’ – fraud.

The last one of these was part of a global banking conspiracy to manipulate borrowing rates (within a trillion pound market) to the advantage of the bankers involved. The net effect was to move massive sums of money from the ordinary citizen to the criminal bankers – for years. Anyone who had any kind of a loan has paid for this.

This blog has been pointing out how bankers contrast deals and their bonuses for five years now: “… but I couldn’t give a monkey’s – my bonus is sorted!”

Time and again we see euphemistic phrases like ‘Mis-Selling’ used to describe criminal, intentional fraud by the banking community.

It is clear that, at the top level, bankers and mafia drug dealers are the same people, with the same interests and motivations: greed, money, power.

In 2009 it was drug money that supplied the liquidity (cash) which saved the banking system from collapse (and the bankers their jobs). Now bankers blatantly admit to returning the favour by funding drug dealers and international terrorists.

Unlike the rest of us who might be caught doing something illegal – again and again, all the banks have to do is pay a civil fine. Then they put their hand in your pocket and take back what they just paid out.

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