Leaked files Expose $2.7 trillion Money Laundering by Big Banks

by Martin Armstrong

The leaked files have revealed that about $US2.7 trillion in suspected dirty money moving through the global financial system. Because bankers are never prosecuted individually, they will do whatever they can without worry that they will ever be prosecuted and in the meantime, they get huge personal bonuses. If they get caught, the bank pays a fine not them personally. Here the records show that the five main global banks, JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank, and Bank of New York Mellon, have continued to engage in these practices despite US authorities have previously fined these financial institutions for previous similar dealings in dirty money. As long as the shareholders pay fines and there is never any responsibility for the bankers personally, we should not be surprised by the continued dealings in money laundering.

As long as the New York Department of Justice and the Southern District of New York continue to protect the bankers personally, we will NEVER see and end to this practice. Why should we when the bankers keep their bonuses and the shareholders are the ones who have to pay the fines? Why do the prosecutors and judges allow this to go on?

The government is corrupt for prosecuting the bankers personally does not produce huge fines. It’s all about the money.