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Related Topic(s): Bankers; Banking; Banking Crisis; Banking Fraud; Banking Mergers And Acquistions; Corruption; Corruption In Legal Profession; Financial; Israel; Justice; (more...)
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The case ushers the financial crisis into the State of
Israel, and provides perfect documentation of the tight links between
corruption of the courts and corruption of banking regulation. It can
further be seen as the parting gift of Stanley Fischer (Governor of
Bank of Israel, and Bernanke's teacher) before packing his bags and
leaving for good... http://www.opednews.com/
UPDATE: Apriil 30, 2013
"Too big to fail, too big to jail" established in the State of Israel...
This afternoon, in the second hearing within 48 hours, Judge Eitan Orenstein approved an out of court settlement, which leaves Tycoon Nochi Dankner at the helm of his failing pyramid scheme.
This is the largest financial scandal in the history of the State of Israel. But if the courts can help it, the People of the State of Israel will never know:
* Which bankers issued huge loans with no collaterals, through blatant conflicts of interests.
* Which banking regulators knew of the practice, but turned a blind eye.
* What part of Dankner's corporate financial reports was fraud.
Israel is now deep into the global financial crisis... all the components are here.
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All comments are welcome... especially any tips regarding corruption of the courts in Los Angeles. Anonymous tips are fine. One simple way to do it is from internet cafes, etc.