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The Insanity of Capital
Walter Rhett: The Insanity of Capital
The art of politics is lost. Money is the main candidate. The largest amount wins. You no longer need a record of civil involvement, just the right connections. Its a bidder’s war. The price of the 2016 elections will be insane.
But cash can get you in trouble. The US Attorney General, Eric Holder, announced a guilty plea to criminal charges yesterday by the international bank Credit Suisse that included fines totaling $2.6 billion. In the plea, Credit Suisse admitted actively helping its account holders to evade US taxes.
On the heels of the Attorney General’s announcement, the New York Times reported the German bank, Commerzbank, suspended two employees for manipulated the $5 trillion daily currency market. The bank called their conduct “inappropriate.” Commerzbank issued a statement citing their “zero tolerance for non-compliance with rules and regulations.” A Swiss commission is also investigating eight institutions for colluding to manipulate global benchmark currencies, and one of those institutions is Credit Suisse.
More: A German authority also reported finding evidence of attempted currency manipulations but has decided not to pursue its findings...
More at: http://www.democratsforprogress.com/2014/05/21/the-insanity-of-capital/
