A Look at Back at Bank Scandals Since the Financial Crisis

Swiss bank UBS AG agreed Wednesday to pay some $1.5 billion in fines to international regulators following a probe into the rigging of a key global interest rate.

The financial industry's image was already badly tarnished by banks' role in the U.S. mortgage meltdown that sparked the global financial crisis and recession. Some have been in the headlines for trading scandals and alleged money-laundering.

Here's a look at some of the low points for banking and bankers since the start of the financial crisis.

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The scandals started when Wall Street analysts defrauded retail investors, and the SEC and NASD knew about it and did nothing. Then, Long Term Capital wen t bust because they leveraged too much, and Timmy Geitner bailed them out, along with their cronies in New York and Washington, and they started this mess of bailouts. Then the Wall Streeet firms and banks laundered money and thought they were inpenetrable, but their leveraged gambles caught up with them and they began realizing that they owned a house of cards - the entire system was on verge of failure.

The brokerage house that was always bullish, really just spread a bunch of bull and needed to be bailed out or fail - the biggest investment bank owns the US Government and pulls the puppet strings, so they just transfered the crap and exchanged it for US Treasuries - pure fraud and market manipulation that went on with the explicit approval of timmy geitner and the Federal Reserve cronies.

It is a phony, manipulated fraudulent system where the banks have laundered, manipulated, and defrauded for years.

Please Walmart - get into banking soon - you have my vote!

December 20 2012 at 8:41 AM Report abuse rate up rate down Reply