A day that will live in PURPLE Infamy!

Money is a many splendored thing...........it can help pay to get you out of jail and overturn a case even if it means using stolen money to achieve it.............ahh life is such sweet sorrow...........!!!!

You do think is more effective at Corruption the Private Sector or the Government, or is it a chicken or the egg question Mr. g?

Money talks.

This time it says:

Giv'em another chance. They have paid the price. Not to justice,of course, but they have paid the price."

We are in store for another 30 days of “legal” surprises from “Justice For Sale” the new legal Franchise owned and operated by Lie-onel Fernandez. Well the guy has to earn some kind of living while serving his for years of retirement.

After all he wouldn’t be able to live in the luxury he has been a costumed too of the meager salary of the misses and FUNGLODE!

On this score, I'm in agreement with you guys. Travesty of justice. 20 yr max. should have been the sentence with no parole until two hours before serving the full 20 years.

Well if we look at the history of these two directors of Bancredito , it can be seen that they were accused by the prosecutors of having authorised loans to companies within the group , which were deemed by the prosecutor to have been againstthe law..so orders for their arrest were given .
These orders for arrest were overturned by the PRESIDENT MEJIA and the supreme court confirmed that the President was within his rights .
As both bankers had an impeccible record before this charge and both had offered to surrender their total assets and there were many public protests of their innocence , the release may be because of a mis carriage of justice..I do not know They were both finally imprisoned in 2006 and earlier this year , as reported here in DT ,Pellaerano refused to have his name put forward for a presidential pardon , insisting he would be proved innocent in court ,,this request for a retrial started months ago .
Best to have an open mind ,,this is not the Baninter case

Politics does make Strange Bedfellows!

Atabey is agreeing with josean and Little Rickey is supporting Hippo’s intervention.

Proving once again that NO ONE is more PURPLE to the Core than Little Rickey, willing even to get in bed with Hippo to justify this PLD inspired TRAVESTY of Justice!

I support no one ,politically ,,I just want the facts to be known before people come to wrong conclusions

"I support no one ,politically ,,"


Boy you could’ve fooled me!

All joking aside, in all seriousness and respect to EVERYONE PLEASE go to this article and tell me if we are not in deep moral decay.

almomento.net/articulo/114014/Barahona-Matan-dos-jovenes-a-balazos


What a set of SAD pictures!

Would somebody please tell me what I should type to simulate the sound of vomiting so I know what to type when I read that pompous windbag's posts.

I have seen this, I know that........ puke, puke puke.

I do not support any party politically ..I have not given a peso to any political party nor have I ever been a member of any political party ..at present I consider the PLD to be vastly superior to the PRD and I take a very balanced view on the years that LF has been President ,,that is not backing any political party ...it is simply judging various issues on their merits .

There are people who know nothing about this case who think automatically that a retrial means that there must be some corruption ,,,but they do not know . I prefer to just wait and see what were the reasons for the release of the two men and then make up my mind .

This is sad news..After several years , these crooks are free after proven guilty.Only God knows how many millions they pay for his release..I am honestly sad that this happens in D.R.


acento.com.do/index.php/news/19268/56/Caso-Bancredito-Pellerano-y-Mendoza-salieron-de-la-carcel-esta-tarde.html#.UAStQItzB-U.twitter

The green has talk the way out.

10 years for $ 900,000,000??? I would do Najayo for 90 million a year, who would even care about bond with that kind of cash?

Here is an alternative to Peacefully FIGHTBACK against these Greedy Criminal Banking Bastards and their government enablers; the fight against the Monopoly of the Dominican USERY Banking System and government that allows it!

"He says that saving is crucial for the poor"

"La Altagracia Cooperative has assets of $ 3.5 billion pesos"

"SANTIAGO. For the poor sectors of Santiago the integral solution to its problems has been believing in its potential as savers and paying their debts on time, says the President of the Board of the cooperative La Altagracia."

Rafael Narciso Vargas, accompanied by Deyaniris Rodriguez, President of the “Committee of Review” and Pedro Ramírez, news director, says that what happened in Santiago with the sixty years of La Altagracia cooperative management, is worthy of a sociological study, because it breaks the molds of all assistance and patronage schemes that are fashionable in the country.

continued:

Vargas indicates that it has demonstrated a peaceful, effective, quiet social revolution can be and without relying on the State or private companies.

"The 3.5 billion pesos in assets that we have, our three billion loan portfolio, a late payment rate cy that is only a 2.0%, has an impact on the health, education, sports, culture, and environment", he said.

The Biggest Fear of the Government and the Abusive Bankers independent action of the Citizenry!


diariolibre.com/economia/2012/07/16/i343889_dice-que-ahorro-crucial-para-los-pobres.html

"El_marido_de_Josean" Join Date: 16 July 2012, 8:22 AM


Another josean obsessed IDIOT using a valuable computer that they should donate to a needy Dominican Student!

What a surprise another, PURPLE HOMOSEXUAL!

Be careful the EDITOR may ban you for Harassing SPAM!

I guess the Corruption Gene is disproportionately prevalent among Bankers and Politicians all over the World!
BOMB SHELL testimony against the Bank of England!

Guys you should move you operations to the Dominican Republic Zero Regulation, Zero Supervision and if Nuria or Alicia exposes you happen to be tried and convicted you are either pardoned or you convictions are easily over turned.
If only Bernie Madoff had known how Wild West the rules are in DR!

Multi-million dollar lies and not little white lies: Libor scandal

In addition to Diamond, so far one of the most powerful bankers of the United Kingdom, was also accused today by Adair Turner, Chairman of the British authority (FSA) financial services
London, United Kingdom (EFE).- Jerry de Misser , ex-chief of operations of Barclays, said this Monday that he lowered estimates of Libor (type of interbank interest which is set in London) following the orders of the ex-counselor delegate Bob Diamond and the Bank of England.

continued:

In a statement to the House of Commons Treasury Committee, de Missier, a Canadian, contradicted Diamond, who had testified when the scandal broke said the manipulation of the Libor rate was perpetrated behind his back.

acento.com.do/index.php/news/19260/56/Mentiras-multimillonarias-y-nada-de-piadosas-El-escandalo-libor.html

just waiting for the high court to name a substitute joged is less painfull that way.. Corruption. At his best.

Josean ,,the people at Barclays are just trying to shift the blame from one to another and now to the bank of England ..fancy saying that they thought it was a directive from the Bank of England ,,from whom in the Bank of England ,,you might have noticed that there was not an english accent from those people blaming others ,
You had better read the evidence given today from the Governor of the Bank of England ,,,the Central bank had been worried about Barclays for some time but the attempted interference with the Libor rate mechanism was the last straw for the B of E

Little Rickey,

How about also Spinning apology for these bankers, who also happen to be Civilized Brits?

Especially given your affinity for Laundry Work!

“HSBC Said to Have Laundered Mexican Drug Cash”

"Jul. 17, 2012 - An investigation has found that lax controls at HSBC allowed Mexican drug cartels to launder billions of dollars through its U.S. operation and other illicit transactions."

washingtonpost.com/business/industries/hsbc-said-to-have-laundered-mexican-drug-cash/2012/07/17/gJQA1TawrW_video.html

Here is a little more on the Right Honorable Bankers!

HSBC Holdings Plc (HSBA) did business with firms linked to terrorism, failed to guard against money- laundering violations in Mexico and bypassed U.S. sanctions against Iran, according to U.S. Senate investigators.

HSBC affiliates worldwide gave terrorists, drug cartels and criminals a portal into the U.S. financial system, the Permanent Subcommittee on Investigations said in a 335-page report yesterday detailing a decade of lax controls. Lawmakers plan to question senior executives from the London-based bank, Europe’s largest, at a hearing in Washington today.

Senate investigators focused on New York-based HSBC Bank USA NA as a “nexus” for U.S. dollar services and transfers. Their report will be the basis of a hearing in which senators question senior executives including Irene Dorner, president and chief executive of HSBC North America Holdings Inc., and the U.S. regulators accused in the report of failing to act.

“We will acknowledge that, in the past, we have sometimes failed to meet the standards that regulators and customers expect,” Robert Sherman, an HSBC spokesman, said in an e-mailed statement. “We will apologize, acknowledge these mistakes, answer for our actions and give our absolute commitment to fixing what went wrong.”

businessweek.com/news/2012-07-17/libor-jpmorgan-ryanair-visa-mastercard-schering-compliance

Lies and Libor

The rate-fixing scandal should destroy the credibility of banks once and for all.

By Matthew Yglesias


You may not be interested in the Libor—the London Interbank Offered Rate—but the Libor is interested in you. Even though the typical American is never going to seek an interbank loan in London, the number is used as a benchmark for a wide range of other financial instruments. Credit instruments with variable interest rates—private student loans, auto loans, adjustable-rate mortgages, credit cards, etc.—need to be indexed to some underlying marker of the overall cost of funds within the financial system. Often that’s something called the “prime rate” set here in the United States, but it’s also frequently the Libor. So growing evidence that Libor numbers have been deliberately manipulated by banks for years means that millions of people have been paying the wrong interest rate on all manner of financial products.

Vast sums of money have been wrongly snatched from innocent people and created equally vast undeserved windfalls for others. The basic structure of the world’s financial system has once again been exposed as fundamentally broken.

Libor is calculated by the financial information and news company Thomson Reuters for the British Bankers’ Association, based on daily submissions from BBA member banks. The submissions are not based on an actual market rate of interest for interbank loans. Rather, submitters estimate what they think they would have to pay. High and low submissions are thrown out, the remainders are averaged, and voilà: the Libor.

If this sounds like a remarkably flimsy form of economic data, it is. It’s just a guess, not a real measurement of anything. And it’s generated by a trade group, not a regulatory agency. And it’s self-reported, not based on any public data. But over the decades Libor came to take on a foundational role in prosaic economic transactions. In a world of large multifaceted financial-services firms, the quirks of the Libor process were a conflict-of-interest disaster waiting to happen. One unit of a BBA member bank could be cruising along, minding its own business, doing its morning Libor submissions, while another arm of the bank was trading interest rate swaps, currency futures, or other derivatives. Some of those trades’ successes or failures could come to hinge on whether the Libor went up or down. But the Libor’s not external to the banks’ activities, and it’s not an objective measurement of anything.

And according to ongoing investigations in the United States and the United Kingdom, that’s exactly what happened. The dirt we know right now comes overwhelmingly from one bank, Barclays. But that’s because Barclays chose to turn rat and cooperate with the investigation, not because they were the only ones messing around. For now, though, the best documentation of the scandal is a series of hilarious emails between the bank’s traders and the bank’s Libor submitters, with traders expressing gratitude for fudged numbers in terms like, “Dude. I owe you big time! Come over one day after work and I’m opening a bottle of Bollinger.”

As the global economy went into crisis, the Libor-fixing turned more alarming. In principle, prevailing interbank lending rates are an excellent measurement of the overall health of the banking system. Low rates indicate that bankers have a high degree of confidence in the other banks, so the published lending rates turn insider gossip into public information. But during the crisis, British regulators seem to have encouraged BBA members to collectively lowball their bids in order to project an appearance of health.

The collective lowballing is perhaps defensible as the financial regulatory equivalent of ordering the code red. A few bent rules here or there are a small thing compared to the disastrous fallout of a systematic banking crisis.

error

Rigging the Libor submissions for the sake of trading profits, by contrast, is emblematic of exactly the sort of situation that puts us at risk of such crises. The problem here isn’t really that some people ended up losing money because interest rates were rigged to be higher than they should have been. People did lose money in this way, and it looks like the losses should lead to ample litigation.

The real issue is just that international finance has become a ruthlessly competitive game in which firms relentlessly seek newer and bigger profit opportunities. At the same time, important swathes of the system are stuck in the days of the old boys’ club where important measures were handled essentially as gentlemen’s agreements. Setting the Libor through a fairly informal submission system and then using it as the basis for global interest payments created a massive arbitrage opportunity:

Anyone who was willing to game the gentlemen’s agreement could arrange vast, riskless profits. And today’s cutthroat finance is nothing if not brilliant at arbitrage. In particular, it’s gotten frighteningly good at arbitraging away effective regulatory oversight. Time and again problems have arisen when clever bankers have found clever ways of undermining the intention of regulatory systems. The Libor malfeasance lays bare in an unusually clear way the basic fact that a modern bank is perfectly happy to lie when there’s money to be made. This has scandalized elements of the business establishment, especially in Britain, leading to a striking Economist cover image labeling the perpetrators "Banksters."

So far the shock waves haven’t really hit on this side of the Atlantic, but one can only hope they will. The United States enacted a major change in its financial regulatory system in 2010, but it’s not clear that we’ve yet had an adequate change in regulatory attitude. The lesson of Libor is that regulators need to recognize that bankers have cast aside the clubby values of yore, and they need to respond in kind. Banks will try to abide by the letter of the law, but where loopholes exist, they’ll be ruthlessly exploited—through dishonest means if necessary—and the financial cops need to have a fundamentally suspicious attitude toward the regulated entities. Time and again, when tighter regulation of trading is proposed, the concern is raised that stringency will push activity to foreign centers. In the short run, that’s almost certainly true. Banks will want to move to wherever they’re most likely to be able to get away with more shady dealings.

But an economic development strategy based on turning your country into an appealing location for dishonest banking is just going to get you a financial system that’s rotten with dishonesty. It’s time to stop being surprised and start realizing that these are the inevitable fruits of a regulatory system that’s weak by design.


slate.com/articles/business/moneybox/2012/07/what_is_the_libor_scandal
_how_the_interest_rate_rigging_should_destroy_the_credibility_of_banks_once_and_for_all.html

GOOD for YOU Leonel!! since you could NOT provide the presidential Pardon to this moron and THIEF like YOU DID with Vivian Lubrano, then the only way was to use YOUR CONTROLLED SUPREME COURT, Nice Touch!! on other times and other places you should hanging at a Post!!

As bad as Hipolito Mejia was on the goverment, in all JUSTICE it has to be said that HE JAILED THE MAN!! and all of the other bankers and took the political heat of what they produced!! Leonel is a master doing this kind of Sh!T