Crazy Stories That Show How Corrupt Our Banks Are (10 pics)

The world's financial system is corrupt but do you know just how corrupt it is?

Iran Contra. In the Iran Contra scandal, the Bank of Credit and Commerce International revealed how it aided the CIA and other intelligence agencies in laundering billions of dollars in financial fraud, illegal drugs deals, and other crimes.

Fraudulent Foreclosure. Giant banks have been shown to have engaged in fraudulent foreclosure practices. The big banks used robo-signers to forge mortgage documents which led to many people losing their homes. This included people that never held any mortgages. Even president Obama was affected. Attorney generals from 40 states have launched investigations.

Nazi Connections. In 1999 the BBC reported that the NAZIs were funded by American banks. According to unclassified documents, Manhattan Chase Bank froze the assets of Jews when it collaborated with German authorities during the war.

 

Mortgage Scams. The Bank of America NA received financial incentives from a federal program to assist homeowners get mortgage-loan modifications. However, it prevented the home owners from receiving these modification programs that could have saved them millions of dollars in losses.

Illegal Fees. In a massive fraud against American taxpayers and veterans, JP Morgan Chase and San Franciscos Wells Fargo Bank of America and appeared on the list of 13 banks and mortgage lenders that charged military veterans illegal fees to refinance their home loans. In order to conceal the illegal fees, the banks and mortgage companies inflated the legal charges.

Manipulating Interest Rates. Morgan Stanley was exposed for its part in hiking interest rates. Unsealed documents revealed that the global bank cabal colluded and schemed for many years to manipulate the interest rates.

Insider Trading. Research indicates that most cases of bank fraud usually involve the banks insiders. More than half of these cases usually involve chief executives, finance directors, and other senior managers.

Dirty Money. Recently, HSBC were accused in a report by the senate of exposing the American economy to money from Saudi Arabian terrorists, rogue regimes in Cuba and Korea, and Mexican drug cartels.

Allocated Gold Scam. In August 2005 Morgan Stanley was forced to settle a class-action law suit for duping their clients. The bank sold precious metal under false pretenses, claiming that it was bought and stored by the company when in fact the bank went ahead and invested in lesser value stocks and securities.

Drug Money. In 2009 the United Nations' drug and crime tsar reported to The Observer that drug money to the tune of billions of dollars saved the financial system from going under during the global crisis.