UK ex-PM Says Bankers Should be Jailed Or We Will Continue to See Large Scale Bank Fraud

“If bankers who act fraudulently are not put in jail with their bonuses returned, assets confiscated and banned from future practice, we will only give a green light to similar risk-laden behaviour in new forms,” Brown says.

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see Jail Bankers or Face the Consequences

The interesting takeaway from Prime Minister Gordon Brown’s comments is his use of the word “fraud.” And the use of that word is widely accepted by most people around the world who were affected by the financial “Crisis” ( would liken it more to an attack).

But virtually all law enforcement and all law makers refer to bank behavior as “risky,” not fraudulent. Even Obama made that mistake. Bank behavior was risky, in the same sense that if you are robbing a bank it is a risky venture. The risk is that you will get caught. Other than  that risk, which now appears to be absent, there was only profit, not risk.

Our affinity for the “sanctity of contract” has steamrolled over the rule of law. So much so that when the elements of contract are missing the courts are filling in the blanks.

 

11 Responses

  1. Everyone should get individual help, and Neil can hep people find an attorney. But, for most, Courts are not borrower friendly. Thus, we need more. If someone can get a petition done, and then get to a Senator or Congressperson, and ask for time to speak before Congress, I will speak.

  2. We need a petition and to get to Congress. If we can get, I will go and speak. I will be the spokesperson. But need to get there. Much to be told that has not been told. .

  3. I just discovered your online recently and Niel Garfield! I’m willing to do it however suggested

  4. The problem is that everyone fights alone. I have said for years that this does not work. This has never been about one individual or family – it is about millions who have been victimized. It does not, and will not, be fixed when you fight alone. Nothing ever is.

  5. Poppy –

    If you haven’t figured it out – Americans today are concerned with 3 things…

    1) BANK MONEY that they collect from their work or investment bets,
    2) BANK MONEY that they believe the government owes them, and
    3) BANK MONEY that they borrow on credit when #1 and #2 are not enough to fulfill their “Drive Thru” McDonald’s demand to have everything NOW!

    The Government has taught everyone that living within your means is foolish and only by borrowing will you be happy and keep your spouse or kids off your back… otherwise accusing you of being an unloving miser!

    Remember when a man/woman’s wealth was gauged by what valuable tangible fungible assets they controlled? Now it is about how much debt they control!

    The banks have no valuable tangible fungible assets – only an interest in other people’s debt – which because they are franchised US banks, they can convert that into BANK MONEY – That has become the example everyone else follows.

    Except for old folks, farmers and savvy smart people – almost no Americans have savings for anything… maybe Art collectors… haha

    Yes, I agree, we drank the Kool-Aid and are now the victims of our own selfishness and ignorance.

    ‘boots

  6. “Distracted by the news”? Appalling what people prioritize…the news is garbage in-garbage out, but it gives me a sense of how uninvolved people are and how they are uninterested in things that really affect them, troubling. I use banks minimally and plan to alter that too, in the near future.

  7. The truth has still not been told.

  8. Reblogged this on California freelance paralegal and commented:
    If only more politicians would speak up the same way that Gordon Brown has.

  9. Poppy

    Does the NFL hold any of your assets in their accounts?
    Why not just boycott all grocery stores and starve to death?
    Until you have an alternative means of storing your wealth and transmitting funds to your chosen vendors – you’re kind-of-stuck.

    Don’t get distracted by the news… stay focused.

    ‘boots

  10. Why jail them when we can kill them
    Off. Loans are the fruit of bank fraud. if consumers would boycott banks for one year and stop taking out loans it would be a nail in their coffin. How do we organize a national campaign to boycott. Take up a pledge to refuse to borrow from banks for one year and don’t take out mortgages or car loans for a year.

  11. Jail is the least of it. They commit fraud on a daily basis. If people can boycott the NFL, why not the banks? Every time they buy and sell “junk bonds and junk notes”, they are cheating, stealing property and colluding with other corporations to do so, intentionally….lot of Felonies there.

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