Spain Charges its Central Bankers in Court - Setting Massive Precedent

[Ba-ba-Ra]

Spain Sets Massive Precedent — Charges Its Central Bankers In Court

First, Iceland, and now Spain has taken on the Big Bankers responsible for financial calamity, as the country’s highest national court charged the former head of Spain’s central bank, a market regulator, and five other banking officials over a failed bank leading to the loss of millions of euros for smaller investors.

This, of course, markedly departs from the mammoth taxpayer giveaway — commonly referred to as the bailout — approved by the U.S. government ostensibly to “save” the Big Banks and, albeit unstated, allow the enormous institutions to continue bilking customers without the slightest fear of penalty.http://www.activistpost.com/wp-content/uploads/2017/spain-bankers.jpg

Errant bankers and financiers, it would seem, typically manage to either evade actually being charged, or escape hefty fines and time behind bars.

Spain’s Supreme Court last year ruled “serious inaccuracies” in information about the listing led investors to back Bankia in error, thus the bank has since paid out millions of euros in compensation.

But Spanish authorities could not abide the telling findings of a years-long investigation
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Complete article: http://www.activistpost.com/2017/02/spain-sets-massive-precedent-charges-central-bankers-court.html?utm_source=Activist+Post+Subscribers&utm_medium=email&utm_campaign=07773cfecf-RSS_EMAIL_CAMPAIGN&utm_term=0_b0c7fb76bd-07773cfecf-388126565

[betoobig]

well some of them have been found guilty and have a 4 year in prisión sentence, they will never go in jail. The Palma Duque have been found guilty and sentence is six year in prisión, the same judge sended sisx years to prisión to a boy who stoled a bike, same sentence but the duque stole more tan six million euro.... most of the judges who do really put the ones in power in trouble are fired out, 9 judges have been put aside....
Really there is nothing to cellebrate here, spanish justice (said by a judge) is made to punish the one who Steel a chicken but not to punish the rich. SO it is a justice to prevent the por steeling from the rich and not punish the rich steeling from all of us... laughable... really.
A rapper who sings a song saying things against the Crown has a sentece of 3 years in prisión.... i dont really understand what news are going out and who is writting it....
Spanish justice is but a bad joke, so far
much love

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sorry for busrting the bubble

[kirolak]

Que chaladura mas insipida. . . :)

[betoobig]

Una concentración en Sol clama por una justicia igual para todos: "Vergüenza, vergüenza"
A concentration of people in SOl (Madrid´s central square) claims for equal justice for all : " shame, shame"
http://www.eldiario.es/politica/concentracion-Sol-justicia-Verguenza-verguenza_0_615939340.html
dont trust the info that comes out of here officially... i wish it would be just like Iceland...lol ... not alike at all
much love

[betoobig]

this is one of the judges that have been set aside in order to not judge the actual powers, the PP, which is the party in power stops all the attemps to investigate all the corruption, though reality impose itself...
-4AGTcCabag
Much love

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here she talks about how other judges permit/allow the corruption to not be investigated
ob5VVqr7GvE

[Unicorn]

I live in Spain, and I totally subscribe what betoobig has said. Everyone living in Spain knows the truth...

[betoobig]

Another judze : " in Spain we are not allowed to investigate corruption"
nyNUHUOWl7o

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he was suspended, he was investigationg Blesa an Rato (expresident of FMI)

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In Spain there is nop major mafia becouse the mafia is the goberment itslef

[Hervé]

Former IMF chief sent to jail as Spain prosecutes 65 elite bankers in enormous corruption scandal (http://thefreethoughtproject.com/fmr-imf-chief-sentenced/)

Matt Agorist
The Free Thought Project (http://thefreethoughtproject.com/fmr-imf-chief-sentenced/)
Sun, 26 Feb 2017 19:25 UTC


https://www.sott.net/image/s19/380669/large/IMF_chief.jpg (https://www.sott.net/image/s19/380669/full/IMF_chief.jpg)


In many other countries, excluding the United States, corrupt bankers are often brought to task by their respective governments. The most recent example of a corrupt banker being held accountable comes out of Spain, in which the former head of the International Monetary Fund (IMF), Rodrigo Rato was sentenced to four years and six months behind bars.

According to the AFP (https://www.businesslive.co.za/bd/world/europe/2017-02-24-court-jails-rodrigo-rato-for-embezzlement/), Spain's National Court, which deals with corruption and financial crime cases, said he had been found guilty of embezzlement when he headed up Caja Madrid and Bankia, at a time when both groups were having difficulties.

Rato, who is tied to a slew of other allegations was convicted and sentenced for misusing €12m between 2003 and 2012 — sometimes splashing out at the height of Spain's economic crisis, according to the AFP.

The people of Spain were outraged over the scandal as it was discovered during the height of a severe financial crisis in which banks were receiving millions in taxpayer dollars. Bankia was eventually nationalized and given 22 billion in public money.

Although he was sentenced, Rato, who is also a former Spanish economy minister, remains at liberty pending a possible appeal because of highly connected elite status.

Rato was brought down in a massive effort by Spain to get rid of corruption within the banking system. The problem had gotten so bad, that Spain decided to clean house, and 65 people, include Rato, were brought to task.

According to the AFP, they were accused of having paid for personal expenses with credit cards put at their disposal by both Caja Madrid and Bankia, without ever justifying them or declaring them to tax authorities. These expenses included petrol for their cars, supermarket shopping, holidays, luxury bags or parties in nightclubs.

According to the indictment, Rato maintained the "corrupt system" established by his predecessor Miguel Blesa when he took the reins of Caja Madrid in 2010, reports the AFP (https://www.businesslive.co.za/bd/world/europe/2017-02-24-court-jails-rodrigo-rato-for-embezzlement/). He then replicated the system when he took charge of Bankia, a group born in 2011 out of the merger of Caja Madrid with six other savings banks, prosecutors said.

According to the report:
Rato was economy minister and deputy prime minister in the conservative government of Jose Maria Aznar from 1996 to 2004, before going on to head up the IMF until 2007. His subsequent career as a banker was short-lived — from 2010 to 2012 — but apart from the credit cards case, it also led to another banking scandal considered the country's biggest ever.

Thousands of small-scale investors lost their money after they were persuaded to convert their savings to shares ahead of the flotation of Bankia in 2011, with Rato at the reins. Less than a year later, he resigned as it became known that Bankia was in dire straits.

The state injected billions of euros but faced with the scale of Bankia's losses and trouble at other banks, it asked the EU for a bailout for the banking sector and eventually received €41bn.

Rato and others were probed, accused of misleading small investors in the listing of Bankia, which has since paid out €1.2bn in compensation. To highlight the utter corruption within the banking cartel that is the IMF, Rato is the third former chief to be ousted for illegal activity.

For those who don't remember, Rato's successor, Dominique Strauss-Kahn, was tried in 2015 on pimping charges in a lurid sex scandal. Naturally, he was acquitted — in spite of the fact that he admitted to engaging in illicit sex with prostitutes at a series of orgies that supposedly took place at the Hotel Carlton in the northern French city of Lille. The court sided with DSK and agreed that he had no idea the women he repeatedly filled the orgies with were being paid.

Christine Lagarde, who took over from Strauss-Kahn and is the current IMF chief, was found guilty in December of "negligence" for approving a massive government payout to business tycoon Bernard Tapie during her tenure as French finance minister.

Despite being found guilty of corruption, Lagarde was not sentenced to a single day in jail. She has since been meeting with Trump's Goldman Sachs-connected Treasury Secretary, Steven Mnuchin, noting that they've had "some very positive discussions."

[betoobig]

3 judges asociation have asked UN to investigate the freedome to investigate of the judicial power in Spain. Becouse they say they can not investigate corruption cases from the goberment party.... Spain justice is a joke really.
A woman who found a credit card and use it to buy dippers when 2 years to jail... i have no words for all the spanish justice is doing, but injustice.
much love