Posts filed under “Crony Capitalists”

The Russian Laundromat


Source: OCCRP

From OCCRP:

Call it the Laundromat. It’s a complex system for laundering more than $20 billion in Russian money stolen from the government by corrupt politicians or earned through organized crime activity. It was designed to not only move money from Russian shell companies into EU banks through Latvia, it had the added feature of getting corrupt or uncaring judges in Moldova to legitimize the funds. The state-of-the-art system provided exceptionally clean money backed by a court ruling at a fraction of the cost of regular laundering schemes. It made up for the low costs by laundering huge volumes. The system used just one bank in Latvia and one bank in Moldova but 19 banks in Russia, some of them controlled by rich and powerful figures including the cousin of Russian President Vladimir Putin.

Category: Crony Capitalists, Currency, Digital Media, Finance, Legal, Politics

No Crimes? That’s The Biggest Lie of the New Century

Yesterday, we looked at why bankers weren’t busted for crimes committed during the financial crisis. Political corruption, prosecutorial malfeasance, rewritten legislation and cowardice on the part of government officials were among the many reasons. But I saved the biggest reason so many financial felons escaped justice for today: They dumped the cost of their criminal…Read More

Category: Corporate Management, Crony Capitalists, Legal, Really, really bad calls

Corporate Deadbeats (Newsweek Cover)

Nice cover: Source:  Corporate Deadbeats: How Companies Get Rich Off Of Taxes, David Cay Johnston, Newsweek, September 4, 2014  

Category: Crony Capitalists, Digital Media, Financial Press

Inversion of the Money Snatchers

The Daily ShowGet More: Daily Show Full Episodes,Indecision Political Humor,The Daily Show on Facebook 7/30/14 – (8:55)

Category: Corporate Management, Crony Capitalists, Taxes and Policy, Television

Contextualizing Bank Fines

click for larger version Source: BV, FT   This morning we discussed the danger that arises from merely fining banks instead of prosecuting them for violating laws. Since the news cycle is focusing on the potential multibillion-dollar fines for BNP Paribas SA and Bank of America Corp., let’s have a look at the amount of…Read More

Category: Bailouts, Credit, Crony Capitalists, Legal

Jefferson on Corporatocracy

Source: The Cagle Post

Category: Crony Capitalists, Digital Media, Politics, Really, really bad calls

Its Great to be the CEO Running a Huge Criminal Bank

Every day brings multiple new scandals.  At least they used to be scandals.  Now they’re simply news items strained of ethical content by business journalists who see no evil, hear no evil, and speak not about evil.  The Wall Street Journal, our principal U.S. financial journal ran two such stories today.  The first story deals…Read More

Category: Bailouts, Corporate Management, Crony Capitalists, Legal, Think Tank

“Outrageous & Piggish” CEO Compensation

CEO pay: ‘Unbelievably piggish and outrageous,’ no matter how you slice it

Autoplay video after the jump
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Category: Corporate Management, Crony Capitalists, Video, Wages & Income

Sorry Banks, Millennials Hate You

Source: FastCo

Category: Bailouts, Credit, Crony Capitalists, Sentiment

The Shadow Lobbying Complex

click for ginormous graphic Source: The Nation

Category: Crony Capitalists, Digital Media, Politics, Really, really bad calls