HSBC got its start from the Opium Wars in the 19th Century, one of the most tragic incidents in recent history where the British Empire was literally fighting the Chinese so that the British could sell opium to the Chinese. So we see banksters have changed very little in 200 years, but shall we deem them "job creators" for poppy growers, heroin producers, Iranian terrorists, and corrupt politicians? By all means, let us.

I will not delve too much into this issue now, but examine corruption around the globe, and not just inside DC and state capitol buildings. Now, who handles Karzai's finances? Will Karzai retire in the US as a member of the 1% after the Taliban possibly overthrows him? And where exactly did he get all that money (it wasn't from a public servant's salary). How should Americans, unemployed and struggling with homelessness and despair, feel about someone making extreme amounts of money overseas with the help of US foreign aid? Who is helping launder foreign aid that is stolen/misappropriated from NGOs and the World Bank and IMF? Who handles the money for any leader who makes more than his designated salary (and his relatives' wealth) in any nation torn apart by drug violence, terrorism, corruption, etc.? Myanmar is the largest producer of meth in the world (and our Dept. of State wants to ease sanctions - go figure), so where do the junta leaders bank? A local Burmese bank or . . . More of these questions will be posed in the future.

"Follow the money, follow the money." Go to FinCEN's website, the Treasury Department agency devoted solely to fighting money laundering. The DOJ has entire units devoted to fighting money laundering and corruption. So, with hundreds or thousands of officials and attorneys earning over $100,000, and those same people possibly making millions in OFAC and AML compliance in law firms and corporations after leaving "government service," the 99% should ask, "What the Hell is going on and why are banksters helping our enemies with no repercussions, while not stopped by the apparently clueless or complicit, and still making six or seven figure salaries while the average law-abiding American is suffering every single day with no respite."

-Kurtz, I am no one and I am everyone

It's pretty clear the game they're going to play re: making LIBOR price manipulation explicitly illegal. So that they can please the gathering mobs who are more and more looking like late 1780s France is right around the corner, they will make it explicitly clear that any rate rigging from now on will be illegal. Of course, this type of activity was illegal under any and all price fixing, theft, conspiracy, corruption, mail and wire fraud, banking, and antitrust laws before. The same way state and federal laws have been applied in courts around the country for common crimes involving everyone outside finance, but every single time a bankster is involved, the authorities can never apply the same laws, claim the crime wasn't covered under the previous laws, and new regs and laws are needed (but another exception will be found when banksters can't help themselves again).

As for Geithner, what an overly sensitive twit. How would he react if he was forced to walk through crowds of average citizens in Athens or Madrid without any taxpayer-funded protection? Would he converse with people or is he only good enough to meet with head honchos in Davos and DC secret chambers? But that's the nature of these politicians, big bureaucrats, business "leaders," and others. They surround themselves with those who don't dare disagree with them (e.g., Obama got scared by being called out by an unemployed engineer's wife about H-1B visas) because they aren't used to dissent. Odd, apparently some Americans are not used to defending their activities. But that's why they literally avoid the public and contradictory opinions at all costs. They want to hear they are right 100% of the time, that they really are as smart as they think they are, and that they do deserve to be richer than everyone else because they are better and brighter. Any information or data that goes against that makes them uncomfortable and must be dismissed ASAP.

Right, on the local news, if someone sticks up a 7/11 with a gun, we'll see it on the local news and that person is gonna get 20 years for armed robbery. Yet if a Bank does it or even an individual through "financial instruments" nothing happens.

You might register so you do not go into the comment moderation queue. I love reading what you have to say, as do others.

There are some in the press trying to claim this week's initial unemployment claims number is a fluke. As we point out, repeatedly, one cannot look at just a week's worth of data on this economic metric. That's why we have so many graphs removing statistical noise and showing the moving monthly average over time.

So, if one looks at the larger timeline, we see initial unemployment claims are simply not dropping as needed. Both these past two weeks can be a "fluke" but this week's numbers are more in line with the slope of the graph, in other words, the headline of this post is reasonable. It's not auto layoffs, it's not the hot weather and so on. America is simply not creating enough jobs.

I have no idea, beyond PR companies pushing these stories, why anyone is interested in CEOs, beyond this one being a pregnant woman. But generally, it's absolutely nuts and has been so ongoing 30 years, little "mini Gods", prime example was Steve Jobs.

Sign of the times, can anyone think of a CEO from the 1950's that was considered more omnipotent than God?

Good point, pregnant women, single mothers are hugely discriminated against in the workplace but as we all know, the rules do not apply for anyone labeled "executive" or "ruling class".

I fear nothing will change. In 2007-2008, everyone was blaming Lehman Bros. and Wall Street woes for initial cliff. As well as property bubble. Okay, fine. 2008 the MSM/political/corp. meme was "uncertainty" about election. Fine. 2009-2010 "uncertainty" about election + tax cuts. Fine. 2010 Republicans take House, no more "uncertainty" about election, but now they find new "uncertainty" about tax cuts + Obamacare despite new Congress and Pres. promising again and again jobs #1 focus. 2010-present "uncertainty" apparently previously unknown but now center on Eurozone, Wall Street still has its head up its ass/problems (because no one knew that?), apparently there's another election (because who can predict elections happening every 2 and 4 years except anyone who knows the electoral cycle for the last 200+ years), etc.

Here's what's not uncertain - large MNCs keep sending thousands of jobs overseas and pulling in record profits and both parties are okay with that, including both candidates for Pres. And, to top it off, the CEOs and banksters are certainly pulling in record salaries and bonuses on time with no uncertainty while blaming uncertainty for everything else - but they don't like being questioned about that paradox.

Here's what's certain so all the talking heads and political sock puppets can retire and stop wasting our time and money - both parties need to bring jobs back to the US, punish and/or disincentivize outsourcing and other destroyers of America's future, reinstate Glass-Steagall, punish criminal wrongdoing in corporate America like every other crime, and raise enough taxes so that those enjoying the US legal system and govt. protection through incorporation here can also help fund American localities, counties, states, and the fed. govt. and ease the burden on those currently struggling. And politicians in both parties that are blatantly corrupt and/or tax cheats need to be made an example of with prison time (e.g., Rangel - really, writing tax code?). "Job creators" admit they aren't job creators, they are enjoying record profits and admit they are only in it to make profits, so only an idiot would continue to look to them to create jobs in the US- they won't and have no reason to.
There are structural and cyclical problems that all the tax cuts and QE "fixes" won't do anything for - they only enrich those in banking and the top tiers that have access to the free cash from the Fed and/or access to lobbyists. As has also been discussed here and elsewhere repeatedly by blogs and the millions of unemployed, there is no skills shortage, so move on from that canard. There is no educational problem here that prevents hiring, so move on from that lie. The rest of America is dying every single day these fundamental issues aren't addressed. Every educated, caring citizen knows what they are and lives them every day.

I would imagine electronic transfers, manipulated, hidden or even a flash stick with account data or something, not good old fashioned paper "money" on air-o-planes.

Regardless, that's why so many of the post titles here are Mafia, Banksters, run amok, and so on, they are just doing whatever the hell, with impunity and they might, have to fork up a pay to play fine.

I'm going to have some good FMN videos on the latest attempts to get any reforms, regulations through.

How are private banks obtaining diplomatic pouches? Thats a story onto itself.

Like everything else with America's law enforcement + regulatory regime, punishments and outcomes will depend on the size of the offenders. Like the SEC, CFTC, DOJ, Congress, and state AGs, the amount of protection given to consumers and the punishment given to offending banks, billers, and debt collectors will depend on the offender. If the offender is large enough to donate to Congressmen + have its own lobbyists, its own PR staff, and law firms staffed with former regulators, then it will be subjected to, at worst: 1) a few scripted moments in a Congressional hearing regarding billing and debt collection practices; 2)a wrist slap from the Protection Bureau; 3) a solemn promise to try to never do it again in the next 30 days; and 4) a fine that is a fraction of the profits gained from the infrations.
All smaller transgressors will face possible investigations and possible massive fines. In some cases when the Protection Bureau wants to appear like it actually enforces the law, it may bankrupt a very small shop and seek immediate headlines.

For example, examine the massive differences in how money laundering for violent cartels is prosecuted depending on whether it's done by individual suspects and small companies vs. large banks; trading with Iran is prosecuted whether it's done by an individual, a small firm, or a multinational (ranges from being labeled a traitor and going to federal prison + forfeiture all the way to a wrist slap and keeping profits); securities fraud with lifetime bans for individuals vs. minor wrist slaps for large firms by FINRA and the SEC; price-fixing small vs. large firms; commingling and theft of funds by a solo attorney or small brokerage vs. MF Global; etc. for precedent regarding the two standards.