Saturday, Jul 27, 2019

Corruption at all levels?

BBC: Noel Edmonds reaches compensation deal with Lloyds over scam

In a previous article "Buy to let" article I starting thinking who made the money. I didn't think it was the banks themselves but its the employees see snippet below
3) Bank employee: The person who got the loan signed off. This is not the investment banker I mean, this is common lower level paper filler.
This is another article showing how corruption and fraud is systemic and endemic and is also the local staff which often feel have no participation but also participate in it.
Without them there the so called Mortgage back securities, NINJA loans would never see the light of day.
Everyone has to be part of it for this to work. And all make money. Hence the reason for collective amnesia and to keep the party going.

Posted by deepak @ 11:42 AM (377 views)
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