The Biggest Banking Scandal The World Has Ever Seen
Click the post title above to watch today’s video about the libor bank scandal! Catch all your real estate news and mortgage news with Frank Garay and Brian Stevens here at www.TBWSDailyShow.com!
E-Mail Subscribe
May 31, 2013
June 5-6, 2013
If some one needs expert view about blogging and site-building afterward i suggest him/her to visit this web site, Keep up the fastidious work.
I will immediately grasp your rss as I can’t to find your e-mail subscription link or newsletter service. Do you have any? Kindly allow me realize so that I may subscribe. Thanks.
If you wish for to grow your familiarity only keep visiting
this website and be updated with the latest gossip posted here.
Impressive articles and type of blogging. I’m sure I’ll check back here
!!! I’m just heading to find out if I just could possibly find almost anything about barclay’s!
later on , and see what exactly else you have available
!
Excellent article. I am experiencing a few of these issues
as well..
[...] The Biggest Banking Scandal The World Has Ever Seen. [...]
We should give them tax breaks and deregulate. That’ll show em!
It began with Reagan. And it continued, uninterrupted, until Bush II. While Presidents sometimes promoted the scams (Reagan and both Bushes, especially!) and some were basically owned by criminals like Charles Keating, it was Congress that did most of the “little things” that allowed out and out usury to become legal. And it was BOTH parties. It is correct that the sweeping legislative steps were taken during the Clinton administration, but by that time, the changes had been developing for almost two decades. Deregulation is fraud. It’s just taking activity which is naturally predatory and criminal and legalizing it. What we learned is, the thieves are always looking for opportunity. Giving the scams a party label is dishonest. While the Republicans led, too many from the other side of the aisle followed.
[...] The Biggest Scandal The World Has Ever Seen- TBWS Daily [...]
[...] The Biggest Scandal The World Has Ever Seen- TBWS Daily [...]
I say we pick the week of AUG 6-10 and pull all our cash out of the bank (what there is) it’s not earning anything anyway. However miniscule it would be, it could be the straw-that-breaks-the-camels back to get us back to pre-Clinton.
Xizang,
yeah, free of love except for one that you buy.
Some people really don’t get it. You can’t hide from lessons you need to learn.
Good riddance!
Xizang, You may want to adjust your plans to relocate to Panama. The long arm of the United States’ government encroachment will keep you in servitude there in Panama due to it’s close government ties. A better but most likely temporary choice would be Nicaragua due to their current lack of ties to each other.
Doesn’t bother me a bit. Not at all. I’ve been loading up on silver coins and bullion. I’ve sold all my real and am free. And I’m moving to Panama.
I hope all you suckers who voted for Obama and mock Ron Paul have a really good time. I’ll send you a postcard someday…
What if you would love to vote for Ron Paul except that the Republican party mocked Dr. Paul and wrote him off from day 1?
For a complete background on this problem you might want to go to:
davidwilcocks/financialtyranny.com
I’ve been following this since 11/2011. It is only going viral on the internet.
Now that Gov is taking control of the net, it may not be there for long. Check it out. You will be surprised at what is happening and the lame stream is not even making mention of it all.
This is all minor to the real bubble that is going to be released. Most of our banking is a ponzi scheme. The federal reserve operates under fraudulent and corrupt practices. It is all about stealing from the poor and giving to the ultra rich. The majority of all mortgages and credit cards are based on little on no consideration. This means a $100,000 loan, if you pay it out in about 30 years based upon an average interest rate, you will pay back $200,000. If it is a federal reserve based loan, the bank only puts $100 in for consideration. So, they basically made $199,900 off you. Might want to educate yourself http://www.naturalmoney.org
Many of the foreclosures are based upon fraud, the banks not the borrowers!
Crazy – right? Have you seen the documentary “Inside Job”? It blew me away. Everyone needs to see this twice. Its alot to absorb and goes back much, much further than I ever expected. The thing that has turned me around on our current offerings on Presidency now and future is that these people are still in control! Just in different places. ITS WRONG.
…and the Inside Job documentary only goes thru 2008… would love to see the follow up, Outside of the inside Job and how we have come along since.
The banks of this world have so many problems that they are not reporting to their shareholders…or the public….it is not even funny! This is just another example of their arrogance.
History does repeat itself because we have IDIOTS in office. People getting bought out by lobbyists and concerned about their own interests and not those of the long term effects of decisions made. This is outrageous and I’m consistently disappointed in our political system.
So…. My question is, if we have no bearing over what the government does or does not do, what is an American to do? Strings are pulled with money… Money that the average person can’t fathom. How are we to protect ourselves, and create a life for our children when voting and advocating to do the right thing falls short?
interesting I think they got the jest of it Banks! President Clinton expanding the Community Reinvestment Act (CRA). Clinton used it as a weapon to force banks to write loans to individuals who would not normally qualify under risk-averse standards. Relaxed standards replaced the norm in the forms of little to no down payments,lower qualifying thresholds on personal credit scores, and little to no proof of personal income. Then Attorney Janet Reno threatened legal action against lenders whose racial statistics raised her suspicions.” so it was pay or play the told. This ultimatum forced the banks to do these loans or risk stiff fines an lose opportunities to expand business. Clinton then pressured frannie Mae to expand loans for his American dream of everyone owning a house. To be fank I’m surprised you didntmention this in some way you seem to be upbeat sincere guys so why not?
Since you too have read the book it was interesting that it noted one of the bankers/crooks (I can’t use the first word without the second anymore) involved was George Herbert Walker, after whom the Walker Cup in golf is named. Oh, and coincidentally he is also the g’father of….George Herbert Walker Bush and ggf of George Walker (W.) Bush. The family is still an owner of the Fed. And they called Kerry rich in the ’04′ election? Give me a break!
Do not forget about the GGpappy of the Bush, Prescott who ran Union Bank and was a Natzi collaborator in the 30′s. Follow the money to the Globalist adgenda
[...] The TBWS Daily Show Trackback: Natural Sleeping Aids Posted in Diving Technology | Tagged .mov, Belize, Blue, Dive, hole, Shark [...]
It’s about time! I’m glad to see you finally get to this outrageous story — well done! The banksters need to be prosecuted and all foreclosures immediately halted. We, the U.S. citizenry that were pawns in the biggest Ponzi scheme ever, need to take back our power and democracy. It has nothing to do with voting, as both parties are in the finger-wagging school (and pay-offs) together. This needs to be a huge uproar and uprising. Are we angry enough yet, or does it have to continue to get worse? Bring back Glass-Steagall and stop the theft!
Re: The Biggest Banking Scandal Ever… Nice Work! Repeal of Glass-Steagall has been an on-going topic for years now at our weekly buffet with fellow political curmudgeons. The current result closely mirrors what pre-saged the great depression. Depositor cash (read-ours), is being diverted from conservative investments in local community infrastructure, into wildly arcane and speculative investment vehicles. We pay when they win. We pay when they lose. Thought for the day: The limits of tyrants are prescribed by the endurance of those whom they oppress – Frederick Douglass
They screw it up…… we pay !! It’s the American Way !!!!!!!!!!
Congress, 535 commoditized temple monkeys pawing through the ruins of America and the big banks in search of bribes. The bicameral whorehouse on Capitol Hill works like a vending machine. You put coins in the slot, select your law, and the desired legislation slides out!
Their (big banks and congress) day in the sunshine is coming, because by jesus we (everyone in the mortgage industry) have take our beatings and all suffered ours over the past 5 years!
Right on the money with this one! One bank does not manipulate LIBOR – this is an unfolding mess….
Thank you for the great information – as always! WOW, WOW, WOW.
http://www.TheSoCalLoanPro.com
Great video, Frank and Brian. Anyone here read Gretchen Morgenson’s Wreckless Endangerment? It’s a very well researched delve into the early days of the brewing our Financial Crisis. Fannie and Freddie also play a big part here.
Now, we can’t necessarily expect the current powers that be to do something while we sit by with bags of popcorn. We’ve seen them give everything and everyone from Frank-n-Dodd to Angelo Mozillo a complete pass, thus far and I’m not expecting anything from them without a serious shove from We the People. I mean to the point where the FHFA guys are looking at a crowd of angry citizens with pitchforks and torches and they’re backed against the edge of a cliff kind of shove.
We need to organize and become a loud, persistent voice and I don’t mean in an OWS fashion. Class, intelligence, data, organization and well $$upported. This is our only shot at righting these wrongs, folks. It’s not just the financial industry either. It’s much bigger than that.
guy’s gal’s share this show forward it to everyone. everyone!! PLEASE!! ~ Brian
Posted here: http://www.sodahead.com/united-states/the-biggest-banking-scandal-in-history-unfolding-soon-will-the-guilty-parties-be-taken-to-task/question-2790191/
Great info piece. Realted reading is the book about the collapse of Lehman. It supports what your saying about how greed has destroyed out financial system.
Good job. The wagging fingers part is soooo right on. Vote vote vote vote. Hold your nose and work with congress people, make contact. Stock up on non perishable….
You might be *royally* interested in who owns Barclays bank – I can’t convince anyone of what’s really going on but you can convince yourself with a little thinking and seeing for yourself. There is a little information some folks put together that will help with one part of your discovery, located here: http://dev.republicoftheunitedstates.org/what-is-the-republic/history/
Once you understand that the constitution we see is really actually not what you think it is, you’ll understand that if then falls into a category that can be changed by means that other contracts are changed with.
Now, think about obama not having citizenship and why he really has not been removed from office. There is something called ratification of contract that will come into play. If Obama can hold office then so can other non Citizens and even people of nobility. …. Think about it for a little while and do the reading. You’ll see where the future is going. Don’t take my word for anything. Look for yourself.
thanks a bunch. love the info!!
You might be *royally* interested in who owns Barclays bank – I can’t convince anyone of what’s really going on but you can convince yourself with a little thinking and seeing for yourself. There is a little information some folks put together that will help with one part of your discovery, located here: http://dev.republicoftheunitedstates.org/what-is-the-republic/history/
Once you understand that the constitution we see is really actually not what you think it is, you’ll understand that if then falls into a category that can be changed by means that other contracts are changed with.
Now, think about obama not having citizenship and why he really has not been removed from office. There is something called ratification of contract that will come into play. If Obama can hold office then so can other non Citizens and even people of nobility. …. Think about it for a little while and do the reading. You’ll see where the future is going. Don’t take my word for anything. Look for yourself.
[...] TBWSDailyShow.com © 2010-12 FORECLOSURE FRAUD | by DinSFLA. All rights reserved. [...]
BACK TO THE GOLD STANDARD i VOTE!
ABOUT TIME!!! You guys might also look into a little prior time line circa 1982ish when Regan authorized the deregulation of the banking industry allowing investment and commerical banks to merge canrry same products & services. Ya thiink the investment banker / trader now has access to Grandma’s savings account is a good idea? Overtime the banksters reduced any significant consumer protection to allow such great events & products as the S&L Bailout and most if not all major financial catastrophes since. Glass-Steagle won’t be reinstated HOWEVER we need an UPDATED VERSION YESTERDAY!
Exactly why Occupy wall street was saying , Until the feds and banks make them look like their the crook”s to hide this truth from getting out. lolololololololol http://www.RealtorsOccupyWallStreet.com
The replacement of Glass Steagall by Gramm Leach unilaterally did more damage to the world economy than people realize. Clinton signed off on it through bad advise from Larry Sumners. Phil Gramm reaped Wall St. monetary favors for writing and pushing it through. His wife was given a $1 million compensation package from Enron. Government regulation is often necessary, contrary to other mantras, when protections are involved. The protection of people from mixing banking money with investment money kept our economy out of a meltdown like 1929 for almost 70 years until greedy Wall St investors had the perfect ‘foil’ in Phil Gramm to change the landscape. The historical timeline says that 2012 will be the next 1933, when Europe cracked four years after the 1929 crash. (2008-2012). The next stop ‘global depression”. The next stop after that…???
No, No!! It was all you crooked mortgage brokers and appraisers that caused the mess.
Excellent story. One of your best and so on topic with what we have been facing in finance today. Here is a great summarization from Frontline on the demise of Glass-Steagall. http://to.pbs.org/Df4Z
The Federal Reserve Charter began on December 23, 1913. This charter was good for 100 years, ensuring the Federal Reserve’s control over the United States currency. In December of 2013, the Federal Reserve Charter will come to an end. The monetary enslavement created by Woodrow Wilson and the Central Bankers will come to a close. In order for the Federal Reserve to retain control over the United States money supply, this charter will have to be resigned by Congress. For it to be renewed it would require not only a majority vote in both houses [Senate and House of Representatives] of the US Congress, but also a three-quarter majority vote by every one of their 50 States’ legislative bodies.
“We the people” have less than 6 months to prohibit this “private corporation” from renewing.
This would be a good subject for a TBWS show.
good one guy’s… you left out B.O.A. AND WELLS-FARGO N/A…. they are all in it …
have a good day..http://bestusajobs.us/ http://bestusajobs.us/Best_U.S.html
Rolling Stone magazine has a good series of articles on this LIBOR manipulation – for those interested.
Holy cow, without a doubt you guys continue to bring us shocking and eye opening truths that we might already know, however need to be reminded of! Scary stuff, for sure. Hopefully several of your followers will get this message out on their websites and to their databases… I know we will!!
Good coverage guys. The really maddening part to me is these banksters that have to have more money than they’ll ever be able to spend, more than their grandkids will ever be able to spend, committing crimes to steal even more money that they don’t need or will ever need. Barclays and all the TBTF’s had to be in on it or it wouldn’t have worked. Barclays defense is all the other banks were doing it. Skimming seems to be their favorite crime. from the top – LIBOR – down to the bottom – skimming appraisal fees. I read an $800 trillion total derivatives trading market or 4 or 5 times all the money in the world.
To me, most derivatives are the financial equivalent of neutron bombs – they destroy people but leaves the buildings standing. And these financial terrorists are free to build and perfect these financial weapons of mass destruction because of willful ignorance by this administration and Congress and the limp DOJ. Has Obama or Romney mentioned anything about this LIBOR scandal? I haven’t heard a thing. Free market – Ha! But, the good news is that the UK is willing to convict, unlike the US – after all, the L in LIBOR stands for “London” so it’s also a matter of pride.
Great show today guys. [clap, clap, clap]
This is definitely one of your best videos. Too bad we have so many politicians but very few leaders in this country who are willing to change things.
Michael Swisher
Mortgage Loan Officer
http://www.SwisherLoans.com
CAPITAL ALWAYS WINS !!!!!!!!
Great story, guys. It bears mentioning, though, that the law that repealed Glass-Steagal was Gramm-Leach-Bliley, authored by then-Sen. Phil Gramm (R-TX). After GLB’s passage in November, 1999. Sen. Gramm co-authored and sponsored the Commodity Futures Modernization Act of 2000. This deregulated the trading of financial derivatives–like Credit Default Swaps, Mortgage Backed Securitites and Synthetic Collateralized Debt Obligations. It also had a nice little section that deregulated the trading of energy futures, that part was aptly named the \Enron Loophole\ (but that is a story for another time). Without the passage of these two laws, we would not be in the mess we are now in. Small footnote: after his retirement, Sen. Gramm went to work as co-CEO of UBS, a (wait for it…) Wall Street investment bank. His wife, Wendy Gramm, had previously served as head of the Commodity Futures Trading Commission. You know…the agency that regulated the trading of financial derivatives and energy futures, along with pork bellies and the like. She was given a seat on Enron’s Board of Directors after the passage of her hubby’s 2000 \modernization\ law.
SHOCKED, SHOCKED, SHOCKED, I tell you. This can’t possibly be true! Randians, Faux Noise, and Phil Gramm (the McCain/Palin campaign economic advisor) have repeatedly screamed at us that the problem is too much regulation and that we should always trust the free market to do the right thing. I just got over being told Santa Claus is not real, now I have to deal with this. The horror, the horrow, the horrow……..
Somehow I’m not surprised to hear that Barclays is at the center of this. Another history lesson; After TARP was paid out to AIG, the insurance conglomerate paid Barclays for their losses from their US lending branch Equifirst, who was a big player and my #2 client for appraisal orders. Barclays promptly shut down Equifirst, putting hundreds if not thousands of hard working Americans out of business and crushing many small businesses like mine that relied on them. Essentially Barclays made their profits, then took our tax money bailouts, then flipped the USA the bird. This LIBOR issue may be painful to play out but Barclays is about to reap what they’ve sown.
Great Job Brian and Frank, so few people understand that the repeal of the Glass-Steagle act is where it all started, Timmy, the same person that did not pay his taxes, you mean the same guy who has never run a business that now runs the treasury? that guy…. see what happens when you put a unqualified person in a position of power… we get #%$&@! The price of liberty is eternal vigilance.
Since the government did not charge even 1 person with criminal actions over anything, I am pretty sure they could care less. That is even after an economic meltdown and Occupiers and Tea Partiers marching in the streets. All that the bank gots were bailouts, bonuses, and political appointments.
I heard this on the News last week, was FLOORED when I heard it, and then it was never mentioned again. Thank you guys for picking up on this, and exposing it for the unbelievable corruption it is. I think the populace doesn’t understand, maybe the news doesn’t media doesn’t either.
Kudos!
it’s because the elite banking cartel here in the U.S. (which involves the privately held (not government owned) Federal Reserve effectively owns the media and many of our politicians…hmmm…wonder why we the sheeple always foot the bill… please read The Creature from Jekyll Island- it will absolutely open your eyes to what’s really going on
From the files of General of the Army Obvious? This is several year old news.
….and yet nothing was done. The Crash of ’29 was previous damn obvious for years……until 1999.
oops…*pretty sorry
Shocking The thought of our tireless leaders possibly having divided loyalty. Shocking, Truly Shocking!
So sad … the repeal of Glass-Steagle seemed right – a move to less cumbersome regulation. If we let the bad business decisions of these banks actually play out, and the banks actually fail (and for the populace to feel the collective pain), then maybe the populace would actually engage, do some critical and logical thinking, only patronage those businesses that are doing the right thing and stop looking to the government to “save” them. But – instead we have a web of rules and regulations that essentially makes what Shaun says sadly correct “The Free Market is an illusion”.
CONGRATULATIONS!!! You guys FINALLY got it right. Bring back Glass-Steagle. This will never happen with either Obama or Romney.)
History repeats I guess the lessons were not learned, or those that lived through the great depression are not around to talk about it….It is time to get out that book you read in High School, Altas Shrugged by Ayn Rand. Tell me this is not happening again now…I want to hide in the mountains of Colorado
see you there…
I was just thinking the same thing, when I read there was a train derailment in Ohio (I think it was). That’s how Ms. Rand began several of the chapters in “Atlas Shrugged.” Only problem is, Colorado is burning because too many tankers were grounded due to the incompetence of the Federal Government.
What the heck is the Federal Government doing in Colorado…they were given 10 square miles and NO MORE!
Colorado mountains were intentionally set on fires to keep people like you from hiding in them. was it arson? set by? connect some dots
Linda…Can I join you? I just finished a 5th reading of her book. I do that after any full reading of the bible.
Of course, we cannot hide anywhere today…the eyes are everywhere! Our forefathers warned of these things passing and people have not been vigilant on who they chose as public servants. In fact, whoever spends the MOST is “always” the winner…so our own morals and ethics are questionable. I guess the public is just sleeping while the bankers just keep taking and taking and taking. What ever happened to our protection of Life, Liberty and Property…(bill of rights for those who don’t know) I know I’m MAD AS HECK and am NO longer consenting to any action by an immoral system. I refuse to collude with the devil, unfortunately, most aren’t.
brilliant, thanks for bringing to this out to mass consciousness. I hope this video goes viral. You guys have done a great job with this one. Thank you.
you guys are right on so happy someone other than me gets it if the masses could only hear and understand but wait the public schools does not teach this degree of understanding
The Feds ignoring a problem. Here, let me put on my best surpised look. Oh my!!!
NEWS FLASH!!! The Feds knew long before it made the news what was going on. I wouldn’t say the Feds are inept. Just dishonest with the American public under the guise that we’re too stupid to understand anyway.
Unfortunately, there are no differences between POLITICIANS (Dems or GOP). It is very much like a shell game. Those of the left blame those on the right and vice versa. They manage to use “talking points” to polarize the people. While the people are stuck on opposing ideologies, they continue with the culture of corruption.
Look at virtually everything done by every administration and congress: Either politicians are exempt (e.g. ACA, etc.), or they personally benefit (EVERY ONE’S net value/estate has increased in value), or their special interests benefit, ALWAYS paid for by private American citizens.
Why not manipulate our money if you can get away with it? Lucky for us we voted for Hope, Change, and Transparency in 2008! LMAO
AND…all their retirements are in bank stocks…check them out. They are so “in bed” with these guys. Liars (lawyers) and Banksters (bankers) are the scourge of this country and we were warned. Appears the educated have their head in the sand and those who do stand up are juse getting knocked down or they plant people to achieve division. United we Stand…Divided we FALL…and this country has been divided WAY too long…I’d say since 1871…what say you?
Wow, where do we start with this one.. I’d like to play a game of history as well, remember Julian Assange and Wikileaks?… he claimed that he had 5 terabytes of data on Bank of America that would be The Biggest Banking Scandal the World had Ever Seen. But they managed to shut him and his website down pretty easily. Sound familiar? Perhaps the same folks who chose to turn a blind eye on a global rate manipulation?
Massive collusion and corruption on a world scale, kind of sounds like every day news nowadays doesn’t it? And yes, Congress doing nothing.. and every American knowing full well it’s because they are on the payroll.
At least LIBOR pretended to be independent. I mean, come on.. you want to talk about the biggest manipulation of an all-important interest rate on a global scale.. look no further than the Non Federal No Reserve and the Prime/Fed Funds Rate. They don’t even try to hide it, they just tell us it’s for our own good.
This is not news to the average informed reader, this is merely proof of what we already know. The Free Market is an illusion.