Tuesday, March 14, 2017
Massive Corruption Scandal Exposes 65 Elite Bankers & Former International Monetary Fund (IMF) Chief
Corrupt banking is nothing new, but it’s incredibly detrimental, which is why, in many countries it is taken seriously by their respective governments. It harms the livelihoods, economies, and democracies of countries. It ensures poor countries remain poor, promotes conflict and instability, and kicks weak environments to the ground.
The most recent example of corrupt baking comes out of Spain, where former head of the International Monetary Fund (IMF) Rodrigo Rato received four years and six months behind bars for embezzlement during his time heading Caja Madrid and Bankia, which were both having difficulties at the time.
Though this is not Rato’s first time being called out for corrupt banking, it marks necessary justice finally being met, this time for misusing €12m between 2003 and 2012. The news sparked outrage among the people of Spain, since it was found to have occurred during a time of immense financial struggle for the country, with banks being given millions in taxpayer dollars. Bankia ultimately became nationalized, receiving €22 billion in public money.
Despite being sentenced, Rato remains free pending a potential appeal. This is likely due to his powerful connections, as he is also the former Spanish economy minister.
The details of the corruption reveal a prime example of elitists misusing their power for personal gain, forgetting their moral compass and dedication to promoting and providing a better environment for people who rely on them to thrive in. For instance, Rato was one of 65 people within the banking system accused of having paid for personal expenses with Caja Madrid and Bankia credit cards, but never declaring them to tax authorities, or explaining the circumstances. Such expenses include petrol for their cars, supermarket shopping, holidays, luxury bags, and parties in nightclubs.
According to the report, “Thousands of small-scale investors lost their money after they were persuaded to convert their savings to shares ahead of the flotation of Bankia in 2011, with Rato at the reins. Less than a year later, he resigned as it became known that Bankia was in dire straits.”
Rato is the third former chief to be called out for illegal activity, proving the incredible corruption festering within the banking system. In fact, Rato’s successor, Dominique Strauss-Kahn, was tried in 2015 on pimping charges in a sex scandal. He was ultimately acquitted, despite the fact that he admitted to engaging in illicit sex with prostitutes at the Hotel Carlton in France, where a series of orgies took place. The court chose to agree with Strauss-Kahn, however, who said had no clue the women were being paid.
Then, Christine Lagarde, who took over from Strauss-Kahn and is the current IMF chief, was found guilty of negligence in her handling of a long-running fraud case. Lagarde was not found negligent in her decision to seek an out-of-court settlement with tycoon Bernard Tapie, but was found so regarding her failure to contest the award to him of about 400 million euros, which then led to a misuse of public funds. The verdict was infuriating for many, as Lagarde was able to escape true punishment, and instead kept her job.
2015 President - EN from Roberto Petitpas on Vimeo.
2015 President - PT from Roberto Petitpas on Vimeo.
VS + VP ENG-RO PT FR
A BRAMERTON A. Orlov Abayomi Azikiwe ABIZAID ABOGADOS ABOGADOS PROGRESISTAS DE ESPAÑA Acción secreta activism Ajamu Baraka AL-ASSAD AL-HUSAINI Aleksandar PAVIC alex gorka Alex Lantier Alexander Azadgan ALEXANDER DUGIN ALEXANDER KUZNETSOV Alexandra Bruce Alexandre Artamonov ALEXIS Ambrose Evans-Pritchard an Greenhalgh Ana de Sousa Dias ANA SOUSA DIAS ANASTASOV Anatol Lieven Andre Vltchek ANDREI AKULOV Andrew Griffin Andrew Korybko Andrew P. Napolitano Andrey Afanasyev animals Ann Diener Ann Wright Anna Von Reitz Anne Speckhard Ph. D. Anne Speckhard PH. D Anti-Media News Desk aRABIC ARAM MIRZAEI Ariel Noyola Rodríguez Asaf Durakovic Asma Assad ASMOLOV ASSANGE Avelino Rodrigues AVNERY BAKER bankers BAOFU Barrett Brown Bashar al-Assad Baxter Dmitry BECKER Before it's News BEGLEY BERGER BILL SARDI Binoy Kampmark BOGDANOV Brazilian BRENNAN BRIAN CLOUGHLEY BULGARIAN BUTLER CABRAS Carey Wedler CAROL ADL CARTALUCCI CATHY O'BRIEN cats Chelsea Manning Choice and Truth Chossudovsky Chris Cole CHRIS HEDGES Christopher Black CIA Claire Bernish clinton Collective Evolution Comunidad Saker Latinoamérica COOK Covert Action Craig McKee CUNNINGHAM CURRENT CONCERNS Daniel Lazare Daniel McCARTHY Daniele Ganser DANSK Darius Shahtahmasebi DARK JOURNALIST DARK JOURNALISTt DAVID HOROVITZ David Lemire David STERN David Swanson DEAN Deena Stryker Deutsch DINNUCI DIPLOMACY Dmisa Malaroat DMITRIY SEDOV Dmitry Minin Domenico Losurdo Donald Trump doni DONINEWS Dr. Kevin Barrett DUFF DUGIN EDITOR'S CHOICE EDWARD SNOWDEN Eliason Eliseo Bertolasi EMMONS endgahl ENGDAHL Eric S. Margolis Eric Zuesse ESCOBAR EUROPE Evan at Fight for the Future F. William Engdahl FANG Farage farewell address FEDERICO PIERACCINI FERRIS Field McConnell finance Finian Cunningham FORBIDDEN KNOWLEDGE TV forbidden nowledge Foster Gamble four horsemen Fr. Andrew Phillips FRANCESCA CHAMBERS Francesco Colafemmina Freeman FRENCH FRISK FULFORD Fuller G20 SUMMIT GALLAGHER Gareth Porter GARY NORTH General Flynn George Gallanis GERMAN GERMANOS Gilad Atzmon Gilbert Doctorow Glenn Greenwald GLOBAL RESEARCH GORDON GORDON DUFF Graham E. Fuller GREENHALGH GREENWALD Greg Hunter Gregory Copley GRETE MAUTNER GUEST CONTRIBUTORS GUNNAR GUTERRES HAGOPIAN Hakan Karakurt Herbert McMaster HERMAN hill HILLARY CLINTON hollywood http://www.independent.co.uk/ http://www.northcrane.com/ http://www.salem-news.com/ http://yournewswire.com/ HUDON HUDSON ideeCondividi INAUGURATION Inform Clear House Internet IODINE ITULAIN Ivan Blot JALIFE-RAHME JAMES James Comey JAMES CORBETT JAMES GEORGE JATRAS James ONeil JAMES PETRAS Jane Grey Jay Greenberg Jean Perier Jean Périer Jean-Claude Paye JEFFREY SMITH JEZEBEL JILL STEIN Jim W. Dean Joachim Hagopian john McCain JOHN PILGER John Podesta John W. Whitehead JONAS E. ALEXIS Jonathan Marshall JONES Joseph Thomas JULIAN ASSANGE KADI Kadir A. Mohmand Kadyrov kalee brown Karen Kwiatkowski Karine Bechet-Golovko KATEHON KATHEON Katherine Frisk Ken O’Keefe Kenneth P. VOGEL KERRY BOLTON Kerry Cassidy Kerry Picket Kevin Barret. VT Kim Petersen KIMBERLEY KINZER KIRYANOV KOENIG Konstantin Asmolov KORYBKO KORZUN Krum Velkov Larry Chin Laurent Gerra lavr LAVROV LE PARISIEN Le Saker Francophone LENDMAN Lionel Shriver LOFGREN LVOV MACMILLAN macron Makia Freeman Manlio Dinucci Manlio Dinucci - Manuel Ochsenreiter Marco Cassiano MARCUS WEISGERBER MARGARET KIMBERLEY MARIA ZAKHAROVA Mark Citadel Mark Taliano Markus Frohnmaier Martin Berger MARUSEK Matt Peppe MATTEO rRENZI MATTHEW COLE MATTHEW JAMISON MCLAUGHLIN MÉLENCHON MELKULANGARA BHADRAKUMAR MERCOURIS MEYSSAN MICHAEL AVERKO Michael Brenner Michael Hudson MICHAEL JABARA CARLEY Michael S. Rozeff Michael T. Klare Middle East MIG video Mike Whitney MINA Mint Press News MintPressNews MIRANDA Misión Verdad MKULTRA Mohamed Mokhtar Qandiel MOHMAND Montenegro MOON OF ALABAMA moonofalabama MOST DAMAGING WIKILEAKS NATO NEO NEWS DESK Nicholas Nicholaides Nick Turse NIKANDROV Nile Bowie NISSANI NOVOROSSIA novorussia NYTIMES obama obamas Olivier Renault ONU ORLOV OSCAR FORTIN PALESTINE PARRY Patrick J. Buchanan Patrick Martin PAUL CRAIG ROBERTS Paul Fitzgerald Paul R. PILLAR Paul Street PAYE PCR Pedro Bustamante PEPE ESCOBAR Peter Dale Scot Peter Dale Scott Peter Koenig PETER KORZUN PETRAS Ph.D Phil Butler PICCARD Pierre Farge PILGER PISKORSKI PODESTA Pope Francis PORTUGUESE PRAVDA prc PRESTON JAMES Prof Michel Chossudovsky Prof Rodrigue Tremblay Project Veritas PUTIN PYOTR ISKENDEROV Queen Elizabeth Rajan Menon Raphaël Meyssan rebecca gordon Redmayne-Titley RELAX réseau Réseau International Réseau Voltaire Réseau Voltaire: Revue Défense Nationale Ricardo Vaz RICHARD DOLAN Richard Galustian Richard Labévière Richard Spencer Rick Sterling Rob Urie Robert Bridge Robert J. Burrowes Robert J. O’Dowd Robert O’Dowd ROBERT PARRY robert steele ROBERTS rof. Mohssen Massarrat ROLAND Roland San Juan blog ROMANIA PROTESTS ROMANIAN Ron Aledo RON PAUL Ron Paul Institute RT Rudolph Giuliani RUDY GIULIANI RUSSIA TODAY RUSSIAN Russian Insider Russie politics Russka RUSSOPHILE Ryan Dawson Ryan Gallagher Salman Rafi Sheikh sana sanders SANTOS SILVA SCAHILL SCOTT Scott Humor Sean Adl-Tabatabai SERGEY LAVROV Seth Ferris SHAKDAM Shawn Hamilton SHEIKH SIMON PARKES Smith & Wesson SNOWDEN SNYDER Sophie & Co Soros SOUTH FRONT SOUTHFRONT SPANISH speech GERMAN MP Speer-Williams Sputinik sPUTNICK SPUTNIK STACHNIO State of the Nation Stephen Kinzer Stephen Lendman Steve Pieczenik STEVE PIECZENIK: STONE STORM CLOUDS GATHERING StormCloudsGathering.com Strategic Culture STRATTON STRYKER Sunagawa Syria TAKEHON TALIANO TASS TEREHOV The Anti-Media THE INTERCEPT THE SAKER the true activist THERAPEOFJUSTICE Thierry Meyssan Third Presidential Debate Tillerson tom dispatch TOM ELEY Tom Engelhardt Tom Feeley TOM JOAD TomDispatch TOMGRAM Tony Cartalucci True Activist TrueActivist.com trump TSUKANOVA TTIP TURKEY TYLER DURDEN Udo Ulfkotte Ukrainian Deserter USA ELECTION USA ELECTIONS Valentin Vasilescu Van AUKEN Vanessa Beeley VASILESCU Vault 7 Veteran Intelligence Professionals for Sanity VETERANS TODAY VETERNAS TODAY Victory Day video videos VIETNAM VETERANS Viktor Mikhin VITALY CHURKIN Vladimir Chizhov Vladimir Safronkov VLTCHEK VT Waking Times WANTA Washingtons blog WAYNE MADSEN WESTBERG Westmoreland WHITEHEAD Whitney Webb WIKILEAKS Wikispooks William Blum WOODS world cup 2018 Xi Jinping Yanis Varoufakis YEMEN Youssef A. Khaddour ZAKHAROVA ZÉ GERALDO ZEROHEDGE ZUESSE