JPMorgan Complicit In Vatican Bank Money-Laundering

JPMorgan Complicit In Vatican Bank Money-Laundering

The Rumor Mill News Reading Room
JPMorgan Complicit In Vatican Bank Money-Laundering
Posted By: Steve [Send E-Mail]
Date: Saturday, 7-Jul-2012 09:47:56

The Council of Europe presented a preliminary report in Strasbourg Wednesday on massive money-laundering by the Vatican. As JP Morgan was the Vatican’s chief bank until the scandal broke, The Morgue may soon have a much bigger scandal and PR nightmare on its hands than a simply $9 billion derivatives loss.
‘It is clear that JPMorgan is complicit in money-laundering in Europe with the Vatican, having abetted Vatican bank money-laundering and fraud by allowing IRS-defined suspicious transactions pass through their institution.
more...

http://philosophers-stone.co.uk/wordpress/2012/07/jpmorgan-complicit-in-vatican-bank-money-laundering/

[b]

There's this too.....

Libor Rate-Fixing Scandal Spotlight Now Shining On … Citigroup And JPMorgan

Date: Sunday, 8-Jul-2012 01:03:24

NEW YORK — The harsh light of the Libor rate-fixing scandal has crossed the Atlantic, with both Citigroup and JPMorgan Chase saying regulators and investigators have requested information from them in a so-far preliminary probe of the case.

Share prices for both — as well as Bank of America, which has not said if it was asked for information — have fallen sharply this week amid worries they could be in line for the type of heavy fines laid on Britain’s Barclays Bank, at the center of the scandal.

Barclays has been fined $452 million (360 million euros) by British and US regulators for attempted manipulation of the markets for Libor and Eurobor benchmark interest rates between 2005 and 2009.

Three top Barclays executives have resigned and on Friday Britain’s Serious Fraud Office said it would formally investigate the case, which has dented London’s reputation as a top financial center.

But speculation runs to other banks because the Libor rate is set based on information from 16 international banks, and many think that manipulating it would take more than one bank.

The issue affects not just banks but commercial and retail borrowers around the world — in the United States, the payments of a floating rate home mortgage loan are often tied to the Libor base rate.

Citi, JPMorgan and Bank of America are three of the 16 banks that fix the rate, as an average of what they say they pay for funds in London’s interbank market.

All three have declined to comment on the scandal.

But JPMorgan and Citi have said that they had received requests for information from regulators and were cooperating.

Citigroup noted in its reports that the Japanese Financial Services Agency, among several regulators involved in the cross-border investigations, had taken administrative action against its Citigroup Global Markets Japan unit over “certain communications” made by two CGMJ traders about Libor and the Euroyen Tokyo interbank rate, or Tibor.

The unit was given a two-week suspension from trading in yen-linked derivatives in January.

JFSA also took administrative action against Citibank Japan in part related to the handling of the communications made by the CGMJ traders.

“The inquiries by government agencies into various interbank offered rates are ongoing,” the bank said in a report to the Securities and Exchange Commission.

Citigroup and JPMorgan also acknowledged private civil and class-action lawsuits filed against the Libor-setting banks beginning in April over the issue.

The suits have been assembled together into one action proceeding in the New York federal district court.

Even if there is not yet any formal investigation of the US banks over the Libor rate manipulation, their shares have already taken falls over worries they could be involved.

JPMorgan shares were off 5.1 percent for the week in afternoon trade Friday; Citi shares were down 4.4 percent and Bank of America 6.5 percent.

http://12160.info/profiles/blogs/sounds-like-the-shit-is-fixing-to-hit-libor-rate-fixing-scandal?xg_source=activity

Derivatives Domino Chain Exploding?? IT "ATM Bank Glitch" Has Spread to Gemany's Largest Bank
Date: Sunday, 8-Jul-2012 00:58:29

The IT ‘glitch’ that has entirely shut down RBS’ NatWest Bank and halted ATM transactions at Russia’s largest bank Sberbank, has now spread to Germany’s largest bank, Deutsche Postbank.
Deutsche Postbank Friday reported its own IT glitch that has completely paralyzed its ATM’s nationwide.
While this entire string of 21st Century Bank Holidays has received zero MSM coverage, it is appearing more and more likely that the derivatives domino chain known as insolvency has been triggered.
Maintenance
Sunday, 08.07.2012 von 00:00 bis 06:00 clock

Font -+
Due to technical maintenance work, with the following restriction on the supply of cash would be raised:

Withdrawals and deposits with the postal savings bank cards are expected on Sunday, 07/08/2012 from 00:00 to 06:00 clock in not at home and abroad possible.

Important:
The supply of cash in the mail Bankcard at the ATM is not affected.
We ask our customers for their understanding.

www.postbank.de/privatkunden/pk_wartungsarbeiten.html

And From Google Translate:
A line problem, Deutsche Telekom has paralyzed the postal bank ATMs nationwide. The problem has occurred early Friday morning and would last for a Postbank spokesman said tonight.
Technicians were trying to fix the problem. There was hope that the devices could be in the course of Saturday returned to service. Customers could, however, the machines in the financial centers, post offices, the use of cash to the Group and Shell gas stations.
The problems of the post-bank customers at ATMs are thus apparently not directly related to the introduction of new technology in the retail business of the parent company, German bank. Starting this week, where more than five million savings accounts run on the new platform “Magellan” together.
The aim of the change was to simplify many steps in the banking business and to accelerate Germany’s largest bank had declared major step. The platform is the core of the integration of Postbank in the group. By 2015, all accounts and business processes to be migrated to the new system. Then it will use 24 million residential and business customers.
The German bank put around one billion euros in the construction of “Magellan”. Already this year, the Institute promises of simplification and standardization of IT processes and management savings of 200 million €.

http://www.silverdoctors.com/banking-it-glitch-reaches-germany-deutsche-postal-bank-halts-atm-transactions/