In defence of Banque Cantonale de Genève
Posted by Ivo Cerckel on October 1st, 2009
Banque Cantonale de Genève mismanagement in 1990s: ready for trial but lawyers angry at leak
http://genevalunch.com/2009/10/01/banque
SNIPS
Update 14:00 Geneva, Switzerland (GenevLunch) – Geneva’s public prosecutor, Daniel Zapelli, has now prepared his case against the key people responsible for the collapse of Geneva’s cantonal bank (BCGE), reported the Tribune de Genève 1 October. The article gives a detailed account of the bank’s scandal 10 years ago, based on Zapelli’s 600-page indictment, which the Tribune obtained.
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Three top bank officials and two outside auditors from Ernst & Young systematically massaged the accounts from 1996 to 1998, and lied to the board of directors, all the while cashing in big bonuses, according to today’s report in the Tribune.
UNSNIP
Yes, it’s easy for Geneva’s public prosecutor, Daniel Zapelli, to indict three top bank officials and two outside auditors from Ernst & Young.
Et ils touchaient des bonus…,
And they cashed in on bonuses …,
subtitles the La Tribune de Genève article. quoted by Geneva Lunch
http://www.tdg.ch/geneve/actu/bcge-600-pages-accablent-dirigeants-2009-09-30
Sounds familiar these days!
How come banking is the only industry where executives can overpay themselves and their shareholders?
Can you spell “irredeemable, at least unbacked, paper money” and “fractional-reserve banking”?
From The Times
September 30, 2009
Gordon Brown spells out hardline plan to disqualify irresponsible bankers
http://www.timesonline.co.uk/tol/news/uk/article6854561.ece
What if the Swiss Commission fédérale des banques (CFB) started by responsibilising central banksters ?
irredeemable digital liquidity & fractional-reserve banking are fraudulent – Let the system collapse now!
ECB attacks oil producers
Posted by Ivo Cerckel on December 6th, 2008
http://bphouse.com/honest_money/worthless-digital-liquidity-and-fractional-reserve-banking-are-fraudulent-%e2%80%93-let-the-system-collapse-now/
Ivo Cerckel
honestmoney@maktoob.com
http://twitter.com/ivocerckel/
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