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A one off situation like you describe can be limited to punishing the particular branch manager. However, banks like Deustche and JPMorgan, who seem to be havin
by ativzzz 6y ago
A one off situation like you describe can be limited to punishing the particular branch manager. However, banks like Deustche and JPMorgan, who seem to be having these issues nonstop with regularity, are clearly run to allow these kinds of criminals to actively participate in their banking structure with minimal oversight, hence the responsibility resting on the higher-ups.
- valuearb 6y agoAgain no monitoring system is perfect or unbreakable. Large banks are going to seem more like they “allow” this simply because they have 10x-100x more employees. The solution to people laundering funds from selling marijuana isn’t punitive banking regulation, its legalizing marijuana. The solution to Dictators stealing from their citizens isn’t onerous banking regs on the 99.9% of honest clients, it’s removing Dictators from power.
- ativzzz 6y ago> removing Dictators from power One way to remove dictators from power is to disrupt their money flows, so tighter banking regulations to prevent fraud and money laundering. > simply because they have 10x-100x more employees There are plenty of large banks who do not have this issue. Considering Deustche on its own has had more sketchy money than pretty much all other banks combined (according to the article) speaks volumes.
- valuearb 6y agoPlease name a single dictator removed from power using banking regulations. Then explain why the banking system is used against Dictators who still have voting rights in the UN.
- ativzzz 6y agoMaybe if we had better systems in place to prevent fraud and laundering, we could do better. Banking regulations are preferrable to the other means we have of removing dictators from power: war, old age, violent revolutions.
- valuearb 6y agoYou just said not removing dictators is preferable to removing them, since all financial regulations can be evaded by dictators. You can’t name a single dictator brought down by financial regulations. And bloody war and revolution is preferable to inaction, because every day is bloody under tyranny. Averting your eyes doesn’t stop tyrants from killing and oppressing their people.
- afurculita 6y agoHow do you remove a dictator from power without invading that country?