Corruption is Where One Finds It, Just Look

News Analysis: Corruption Is Where One Finds It, Just Look (as Transparency International has for 2013). Since in almost all countries the “AFAB” Acronym (Anything For A Buck) is the Operational Guide for some of their residents, Corruption is rampant. The Mores and Folkways of the Country’s Culture are of little importance compared to the Precepts of “AFAB”. “Beg, Borrow, Cheat, and Steal” become their Operational Guide.

Businessmen in Cabals with Bankers illicitly Connive (Bernie Madoff Convolution); Bankers do the same  with Bankers (LIBOR Scandal); Government Workers collaborate with Defense Contractors (Fighter Aircraft Program); Federal Government Leaders do it with other Countries Heads-of-State (Iraq War).  

The important thing to realize is that Corruption takes at least Two Parties: A Donor and A Recipient. Corruption grows in relation to the Sizes of the Economies in which it exists. For example, one can be of the opinion that the Largest Transaction Currency Amounts will take place where the biggest “Deals” are available. To wit, a $1.26 Trillion+/- Deal with Banks was Signed Off by the U.S. Government within approximately 30 days of a New Regime commencing! Many people think that the paperwork for a “Deal” that Large  would obviously  HAD TO HAVE BEEN WRITTEN BEFORE THE ELECTION OCCURRED. Conveniently there were NO Requirements that the monies be lent to businesses for the hiring of workers. The banks lent the majority of the money back to the U.S. Government and collected the interest! Bankers Collaborating with Government leaders before the Election is thought by many. Corruption? A completely “Legal” transaction (those involved would say). Much of the monies lent are noncollectable (unfortunately for  U.S. Taxpayers).

A very Valuable Anti-Corruption Tool was implemented recently by Russian President Vladimir Putin. In it, Government Employees had to declare ANY Assets they held abroad and cease and desist from keeping them (if they wanted to retain their employment in the Government). This is an Excellent Idea which is needed in America and other “Big Ticket” Countries.

Keep in mind that a Corruption PERCEPTION Index is just that. Connotation is NOT the same as Denotation; they exist one way or the other regarding “Corruption”, in the eyes of the beholders.

One Man’s “Corruption” is another Man’s “Efficient Business”. Reality.

Reference: http://cpi.transparency.org/cpi2013/results/

High Integrity is Required of Bankers; Guile is Not

News Analysis:  High Integrity Is Required Of Bankers; Guile is not, nor is Financial Self-Interest. Unfortunately, in many countries Bankers appear to forget that the Monies they Place with Others belong to Bank Depositors, NOT Themselves. As they seek out “Higher Financial Returns” they often by-pass Legalities in their Countries’ Banking Laws; the Personal Economic Gain becomes an Opiate for them.

As with ALL Financial Transactions the Public needs to learn the Wisdom of the simple Axiom: “Trust, But Verify”.  A Banker is NOT Someone who is Innately Born with Honesty, High  Integrity, and Wisdom. But ALL Bankers are in Money Environments to which their Weaker Brethren may succumb to Financial Temptations (at an Expense to Bank Depositors); even in Austria. Reality. 

Reference: http://tinyurl.com/k5rprzq

A Bank’s Worst Enemy May be Its Own Bankers

News Analysis:  Forensic Accounting should be an on-going process rather than an after-the-fact event. Since its goals are different than standard accounting, it may find irregularities [and those internally who propagate them], early on. Trust, But Verify.

Reference: http://tinyurl.com/lnk67my

Some Swiss Bankers are Not Leaving Switzerland

News Analysis:  The ancient adage: “As Ye Sow, So Ye Shall Reap” is especially applicable to those who, under the cover of ‘Bank Legitimacy’, engage in large scale tax evasion on behalf of their foreign customers. The electronic capacity of governments to watch the flow of funds from one country to another by scheming individuals, through their bankers, should have them re-think their actions. Can embarrassment, fines, and possible long-term  prison confinement, for conspiratorial bankers, ever be worth some financial gain?

Reference: http://tinyurl.com/m6pejwe