Bankrupt Banker

Why Australian banks are crucial if NZ goes bankrupt - Business - NZ Herald News

Bernard Hickey : Why Australian banks are crucial if NZ goes bankrupt - Business - NZ Herald News: "What would happen if the world judged New Zealand Inc was unable to service its debts? 
Unfortunately, these are not idle questions any more. Our net foreign debt is as high as Greece's and Ireland's, both of whom have just suffered the indignity of being 'bailed out' by the international powers-that-be after effectively being judged bankrupt as nations. 
In their cases the International Monetary Fund and the European Union dictated massive cuts in public spending and new taxes. Their downfalls were preceded by credit rating downgrades. 
Standard and Poor's put New Zealand's AA+ credit rating on negative outlook a few weeks ago. As recently as March last year Ireland had a credit rating that was one notch better than New Zealand's. 
The former Celtic Tiger also once had public debt levels similar to ours relative to GDP, but now has a rating four notches below our rating."

Why Australian banks are crucial if NZ goes bankrupt - Business - NZ Herald News

Bernard Hickey : Why Australian banks are crucial if NZ goes bankrupt - Business - NZ Herald News: "What would happen if the world judg...

"God´s Bankers" Money Launderers?

"God´s Bankers" Money Launderers?: "In a new case involving money-laundering the Institute for Religious Works, the bank of t...

London Bankers Charge 'Immoral' Fees, Report Finds - NYTimes.com

<a href="http://www.amazon.com/Handbook-London-Bankers-Predecessors-Goldsmiths/dp/1145477097?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="A Handbook of London Bankers: With Some Account of Their Predecessors the Early Goldsmiths; Together with Lists of Bankers from 1670, Including the Earliest ... of the London Post Office Directory of 1890" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=1145477097&tag=cosdelcri-21" /></a>London Bankers <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=1145477097" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important;" width="1" />Charge 'Immoral' Fees, Report Finds - NYTimes.com: "Institutional Investor Council, which represents Britain’s biggest investors, said in a report released on Tuesday that it was “consistently” told by corporate issuers that the fees charged by bankers on rights offerings, or sales of shares, were “too high” in Britain. In the words of one, the fees are “usually immoral.” 
To put it in perspective, the council compared underwriting fees paid by a number of companies for rights issues with total compensation for directors in the year of the issue. What it found was stunning. Typically, gross underwriting fees were 10 times as much as the total compensation for executive directors in the year that the rights issue took place, the council said in its report, “Rights Issue Fee Inquiry.”"

London Bankers Charge 'Immoral' Fees, Report Finds - NYTimes.com

London Bankers Charge 'Immoral' Fees, Report Finds - NYTimes.com: "Institutional Investor Council, which represents Britain’s b...

WikiLeaks cables: Thai leaders doubt suitability of prince to become king | World news | The Guardian

WikiLeaks cables: Thai leaders doubt suitability of prince to become king World news The Guardian: "Thai leaders harbour grave misgivings about the crown prince's fitness to become king owing to his reputation as a womaniser and links to a fugitive former prime minister, according to a leaked US diplomatic cable. 
<a href="http://www.amazon.com/Culture-Shock-Thailand-Survival-Etiquette/dp/0761454985?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Culture Shock! Thailand: A Survival Guide to Customs and Etiquette" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0761454985&tag=cosdelcri-21" /></a>Three senior members of Thailand<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0761454985" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important;" width="1" />'s powerful privy council, a group of advisers appointed by the king, make clear their preference for an alternative to Prince Maha Vajiralongkorn, who is considered a political liability because of his extramarital affairs in several European countries. 
The succession is of pressing concern as King Bhumibol Adulyadej, who turned 83 this month, is in poor health. Revered by most Thais, he is one of the few unifying figures in a country deeply divided between an urban elite and a rural poor. 
The great fear within the authorities is that with the divisive figure of the crown prince as king, any future political turbulence could split Thailand in two. The military and the police rely on loyalty to the crown to maintain control and without it their authority would be greatly weakened."

WikiLeaks cables: Thai leaders doubt suitability of prince to become king | World news | The Guardian

WikiLeaks cables: Thai leaders doubt suitability of prince to become king World news The Guardian: "Thai leaders harbour grave misgivin...

Swiss banker who told a U.S. client he had nothing to worry about from a federal offshore tax evasion crackdown is now facing federal charges

<a href="http://www.amazon.com/Treasure-Islands-Uncovering-Offshore-Banking/dp/0230105017?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0230105017&tag=cosdelcri-21" /></a>Offshore tax crackdown continues South Florida Business Journal: "Swiss banker who told a U.S. client he had nothing to worry about from a federal offshore tax evasion <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0230105017" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important;" width="1" />crackdown is now facing federal charges. 
The federal government’s battle to contain offshore tax evasion is heading into 2011 with a new case filed in Miami against Renzo Gadola, a former banker for UBS Bank. 
Gadola, 44, was charged Tuesday with conspiring to defraud the U.S. He was arrested in Miami after meeting with a client at a local hotel Nov. 6 to encourage the client to continue hiding an undisclosed account at Basler Kantonalbank, a regional bank based in Basel, Switzerland. 
According to court documents, Gadola told the client there was a “99.9 percent” chance the client had nothing to worry about because the “likelihood … that they will somehow … find out about the account is practically zero percent.” Further, Gadola told the client that there was no “paper trail” associated with the undeclared account."

Swiss banker who told a U.S. client he had nothing to worry about from a federal offshore tax evasion crackdown is now facing federal charges

Offshore tax crackdown continues South Florida Business Journal: "Swiss banker who told a U.S. client he had nothing to worry about fro...

Texan indicted in alleged $17M securities fraud | AP Texas News | Chron.com - Houston Chronicle

<a href="http://www.amazon.com/Securities-Fraud-Detection-Prevention-Control/dp/0470601574?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="Securities Fraud: Detection, Prevention and Control (Wiley Finance)" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0470601574&tag=cosdelcri-21" /></a>Texan indicted in alleged $17Msecurities fraud <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0470601574" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important;" width="1" />AP Texas News Chron.com - Houston Chronicle: "Adley Husni Abdulwahab was indicted on five counts of securities fraud and one count of conspiracy in connection with an alleged $17 million investment scam. 
Two co-defendants in the case have pleaded guilty to a single count of securities fraud and face up to five years in prison. 
Abdulwahab remains in custody in the Eastern District of Virginia for his alleged role in an alleged $100 million life insurance scam and couldn't be reached for comment. Federal court records do not list an attorney for Abdulwahab in the Texas matter."

Texan indicted in alleged $17M securities fraud | AP Texas News | Chron.com - Houston Chronicle

Texan indicted in alleged $17M securities fraud AP Texas News Chron.com - Houston Chronicle: "Adley Husni Abdulwahab was indicted on fi...

Former investment dealer hit with record fine in B.C. fraud

Former investment dealer hit with record fine in B.C. fraud: "former B.C. man has been hit with a record $47.1 million in penalties and a lifetime trading ban for defrauding investors of more than $15 million. 
<a href="http://www.amazon.com/ENTERING-DEALERS-ASSISTANT-WORKING-PARKING/dp/B000UOL7VM?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="" NO ENTERING FUTURE DEALER'S ASSISTANT WORKING " PARKING SIGN" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B000UOL7VM&tag=cosdelcri-21" /></a>Sung Wan (Sean) Kim was a registered futures dealer <img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B000UOL7VM" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important;" width="1" />who promised members of his Burnaby church returns as high as five per cent a month investing in futures and options trading, as well as U.S. Treasury bills. 
Kim diverted the money he collected from 35 B.C. investors and one Korean investor into his own bank account and fled late last year to South Korea, where he is behind bars. 
'It had elements of a Ponzi scheme, he promised high returns and low risk,' said Lang Evans, director of enforcement for the B.C. Securities Commission. 'He exploited the trust that people gave to him and he betrayed that trust to his clients, he betrayed his community and he betrayed his congregation.'"

Former investment dealer hit with record fine in B.C. fraud

Former investment dealer hit with record fine in B.C. fraud: "former B.C. man has been hit with a record $47.1 million in penalties and...

EXCLUSIVE: OC Housewife Alexis Bellino Faces More Legal Battles, Considering Suing Chase Bank | Radar Online

<a href="http://www.amazon.com/Real-Housewives-Get-Personal/dp/0811874168?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="The Real Housewives Get Personal" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0811874168&tag=cosdelcri-21" /></a>EXCLUSIVE: OC Housewife Alexis Bellino Faces More Legal Battles, Considering Suing Chase Bank | Radar Online<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0811874168" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px; padding-bottom: 0px !important; padding-left: 0px !important; padding-right: 0px !important; padding-top: 0px !important;" width="1" />: "Real Housewives of Orange County's Alexis Bellino is set to launch herself into another bitter legal battle, this time against the bank she blames for losing her home. 
The cash strapped reality TV star and her husband Jim have had their luxury mansion put up for auction after one of their businesses went bankrupt. 
EXCLUSIVE: OC Housewife Writes Letter To Pals: 'We're Not Bankrupt' 
Now RadarOnline.com can reveal exclusively that they don't plan to go down without a fight and will take on Chase if they have to. 
'Right now we’re considering legal action against Chase, regarding the fact that they changed the terms of their loan modification agreement,' said their lawyer Michael York."

EXCLUSIVE: OC Housewife Alexis Bellino Faces More Legal Battles, Considering Suing Chase Bank | Radar Online

EXCLUSIVE: OC Housewife Alexis Bellino Faces More Legal Battles, Considering Suing Chase Bank | Radar Online : "Real Housewives of Oran...

Paulson, Calpers File Rival Payment Plan for Bankrupt Lehman - BusinessWeek

<a href="http://www.businessweek.com/news/2010-12-16/paulson-calpers-file-rival-payment-plan-for-bankrupt-lehman.html">Paulson, Calpers File Rival Payment Plan for Bankrupt Lehman - BusinessWeek</a>: "Paulson & Co. and other creditors of Lehman Brothers <a imageanchor="1" target="_blank" href="http://www.amazon.com/Last-Imperious-Rich-Brothers-1844-2008/dp/159184309X?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969"><img alt="The Last of the Imperious Rich: Lehman Brothers, 1844-2008" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=159184309X&tag=cosdelcri-21" /></a><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=159184309X" style="border:none !important; margin:0px !important; padding: 0px !important" width="1" />Holdings Inc. filed a payout plan for the defunct firm that they said would spread an estimated $57.5 billion more equally among creditors than would Lehman’s own proposals. 
A group including New York-based Paulson, which has about $33 billion in hedge funds, and the California Public Employees’ Retirement System, the largest U.S. public pension fund, previously faulted Lehman’s proposals in filings in U.S. Bankruptcy Court in Manhattan. The 10-member group said it has more than $12 billion in claims against Lehman."

Paulson, Calpers File Rival Payment Plan for Bankrupt Lehman - BusinessWeek

Paulson, Calpers File Rival Payment Plan for Bankrupt Lehman - BusinessWeek : "Paulson & Co. and other creditors of Lehman Brothers...

Regulators publish final text of Basel bank rules | Reuters

<a href="http://www.reuters.com/article/idUSTRE6BF1E020101216">Regulators publish final text of Basel bank rules <a imageanchor="1" target="_blank" href="http://www.amazon.com/Capital-Adequacy-beyond-Basel-Securities/dp/0195169719?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969"><img alt="Capital Adequacy beyond Basel: Banking, Securities, and Insurance" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0195169719&tag=cosdelcri-21" /></a><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0195169719" style="border:none !important; margin:0px !important; padding: 0px !important" width="1" /><a imageanchor="1" target="_blank" href="http://www.amazon.com/Capital-Adequacy-beyond-Basel-Securities/dp/0195169719?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969"><img alt="Capital Adequacy beyond Basel: Banking, Securities, and Insurance" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=0195169719&tag=cosdelcri-21" /></a><img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=0195169719" style="border:none !important; margin:0px !important; padding: 0px !important" width="1" />| Reuters</a>: "Basel Committee of global banking regulators published on Thursday the final text of Basel III, which will force banks to triple the amount of capital held to withstand shocks. 
World leaders agreed in Seoul last month the new rules would be phased in between 2013 and 2018. 
'The transition period provides banks with ample time to move to the new standards in a manner consistent with a sound economic recovery, while raising the safeguards in the system against economic or financial shocks,' Basel Committee Chairman, Nout Wellink, said in a statement. 
The final text confirms all key ratios and their timing, as expected. 
The text has been fleshed out in some areas, particularly as regards the new and first set of global liquidity standards to allow countries like Denmark and Australia more flexibility."

Regulators publish final text of Basel bank rules | Reuters

Regulators publish final text of Basel bank rules | Reuters : "Basel Committee of global banking regulators published on Thursday the f...