"Consent agreements" with HSBC, Wells Fargo, Deutche Bank paid nearly $1Trillion dollars in fines to various agencies. Cartels are main contributors. Hard document proof
Office of the Comptroller assessed a $3.5 million penalty against James Strother for his role in Wells Fargo Bank, N.A.'s systemic sales practices misconduct. The penalty came as part of a settlement with the bank's former General Counsel that also included a personal cease and desist order. The settlement follows the OCC filing a notice of charges against Mr. Strother and four other senior bank executives on January 23, 2020. As part of the settlement, Mr. Strother agreed to cooperate with the OCC in any investigation, litigation, or administrative proceeding related to sales practices misconduct at the bank. Strother had fingers crossed when he “promised”.
With Bitcoin ETFs gaining popularity, some predict the price might reach $100k. Should I consider investing my $500k cash savings now, or have I missed the optimal time for potential gains?
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
Farron is great.. Mike Papantonio is a MAGA sellout who always craps on the Dems while being extremely sympathetic to Trump and his insurrectionists. He’s an absolute snake.
Carrie L. Tolstedt is an ousted American banking executive and former head of the community banking division at Wells Fargo, from which she retired in 2016 before the company's account fraud scandal came to light. In 2017, Wells Fargo retroactively fired Tolstedt for cause
Based on this whole interview it feels like Mike read through the HSBC case and based his entire view of the matter off of how things worked back in 2010, but there has been an enormous increase in banking compliance since then specifically because of the HSBC case, much of which involves the banks taking steps to rectify everything he is accusing them of. While the HSBC penalties should have resulted in jail time, that's more of a concern overall in this country where executives can get off scot-free from various crimes, not just in the banking industry. While they're not perfect, there is no large bank intentionally laundering money for cartels or terrorist organizations, because they know that the HSBC penalties could always have been much higher. In fact, the major issue with HSBC was that they were understaffing the AML departments they were required to maintain by law. The whole case was the catalyst for banks to focus on creating and maintaining robust AML departments or contracting out for them, and this reality directly contradicts much of what Mike told you. I love what you're doing Dave, but the content of Mike's responses in this interview with regards to banking are woefully misinformed and do little more than promote Mike's new book.
We live in a world where The US and allies got 100,000 Iraqis killed along with their own soldiers because some super rich people wanted to make Billions and prevent a leader they didn't like from exploiting his natural resources. That the topic of THIS video would be shocking to anyone is beyond me.
I would like to see Ben Meiselas, David Pakman, Brian Cohen, and Luke Beasley have a debate with the Vauletainment crew on the Biden Trump records as President.
Have you ever watched the movie Scarface Mr. Pakman? It's much easier with imaginary money, you don't need all the trucks, bags, and manpower to carry it all around. (That's another reason why they made digital money Sir.)
Sorry, but not too unlike RFK jr, his partner Papantonio is a horrible source. Good talker, but stays out of the weeds, while saying enough that makes him seem credible. He’s often worse than knowing nothing at all
I haven’t watched this clip yet. But I already know ow the answer: Banks get away with what they get away with, because…..THEY’RE BANKS!!!
Great guest David, thank you
"Consent agreements" with HSBC, Wells Fargo, Deutche Bank paid nearly $1Trillion dollars in fines to various agencies. Cartels are main contributors. Hard document proof
I love this guy ! Thx for having him on david 🙂
Office of the Comptroller assessed a $3.5 million penalty against James Strother for his role in Wells Fargo Bank, N.A.'s systemic sales practices misconduct. The penalty came as part of a settlement with the bank's former General Counsel that also included a personal cease and desist order. The settlement follows the OCC filing a notice of charges against Mr. Strother and four other senior bank executives on January 23, 2020. As part of the settlement, Mr. Strother agreed to cooperate with the OCC in any investigation, litigation, or administrative proceeding related to sales practices misconduct at the bank. Strother had fingers crossed when he “promised”.
Financial planning, like navigation, requires knowing your destination. James Clark's guidance provides clarity in uncertain markets.
Successful investment starts with clear goals and risk assessment, often best done with a financial advisor's help.
With Bitcoin ETFs gaining popularity, some predict the price might reach $100k. Should I consider investing my $500k cash savings now, or have I missed the optimal time for potential gains?
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
James Clark's market insights have consistently led to profitable decisions.
Celebrating a $30k stock portfolio today from a $6k start. Investing wisely has given me time for family and future plans.
It's truly harrowing to think about the hidden evil enterprises that exist.
Pap is always impressive! . . it is an outrage that the people at the top ALWAYS get away with it . .
Mike from The Ring Of Fire, is great, so is Farron, too.
Farron is great.. Mike Papantonio is a MAGA sellout who always craps on the Dems while being extremely sympathetic to Trump and his insurrectionists. He’s an absolute snake.
They’re banks. That’s why.
The corruption gets worse
Great interview, wish it was longer
Carrie L. Tolstedt is an ousted American banking executive and former head of the community banking division at Wells Fargo, from which she retired in 2016 before the company's account fraud scandal came to light. In 2017, Wells Fargo retroactively fired Tolstedt for cause
Cartels and Triads warring with each other for shipping, and docks.
Based on this whole interview it feels like Mike read through the HSBC case and based his entire view of the matter off of how things worked back in 2010, but there has been an enormous increase in banking compliance since then specifically because of the HSBC case, much of which involves the banks taking steps to rectify everything he is accusing them of. While the HSBC penalties should have resulted in jail time, that's more of a concern overall in this country where executives can get off scot-free from various crimes, not just in the banking industry.
While they're not perfect, there is no large bank intentionally laundering money for cartels or terrorist organizations, because they know that the HSBC penalties could always have been much higher. In fact, the major issue with HSBC was that they were understaffing the AML departments they were required to maintain by law. The whole case was the catalyst for banks to focus on creating and maintaining robust AML departments or contracting out for them, and this reality directly contradicts much of what Mike told you.
I love what you're doing Dave, but the content of Mike's responses in this interview with regards to banking are woefully misinformed and do little more than promote Mike's new book.
We live in a world where The US and allies got 100,000 Iraqis killed along with their own soldiers because some super rich people wanted to make Billions and prevent a leader they didn't like from exploiting his natural resources.
That the topic of THIS video would be shocking to anyone is beyond me.
David, I am getting dizzy watching Mike with the flowing Red and Blue background graphics. FYI.
Terrorism isn't actually a profitable thing, so I'm unclear what money terrorists have to launder and why?
I would like to see Ben Meiselas, David Pakman, Brian Cohen, and Luke Beasley have a debate with the Vauletainment crew on the Biden Trump records as President.
You should also add: Adam Mockler and Cenk Uyger and Kyle Kulkinski and Hasan Piker.
Add Michael Popak
Banks don’t do LAUNDRY lol
When Jack and Bobbie Kennedy when after the mob both got offed.
Have you ever watched the movie Scarface Mr. Pakman? It's much easier with imaginary money, you don't need all the trucks, bags, and manpower to carry it all around. (That's another reason why they made digital money Sir.)
Rich people always get off. --- why is this?
These guys were backed by rp right?
Funny how you can suddenly become pro-death-penalty...
Pap has awful takes on Ukraine. 👎
He just said Humas is the biggest terrorist organization in the world.
Their not.
Israel is.
Pass in this guy
Perhaps you shouldn't rely on TikTok for your news.
Sorry, but not too unlike RFK jr, his partner Papantonio is a horrible source. Good talker, but stays out of the weeds, while saying enough that makes him seem credible. He’s often worse than knowing nothing at all
You're 34 Trillion dollars in debt and rising, be careful 🤔