Corporate Criminals
Yet another example of corporate profit before people....so greedy for money that Wachovia trolls among accused criminals for business.
From a NY Times report: "Last spring, Wachovia bank was accused in a lawsuit of allowing fraudulent telemarketers to use the bank’s accounts to steal millions of dollars from unsuspecting victims. When asked about the suit, bank executives said they had been unaware of the thefts.
"But newly released documents from that lawsuit now show that Wachovia had long known about allegations of fraud and that the bank, in fact, solicited business from companies it knew had been accused of telemarketing crimes."
The NYTimes article continues, "...C.E.O. Ken Thompson, was actively involved in directing aggressive steps to correct the processes related to this situation. We are confident that the changes we’ve implemented will help protect our customers.
“ 'This could be very good news for millions of consumers,' said Kathleen Keest with the Center for Responsible Lending, a group working to eliminate abusive financial practices.
“ 'But reforms tend to happen quickly in the light of publicity, followed by backsliding when the spotlight fades,' Ms. Keest added"
And like Bush and his lying, hypocritical, criminal administration, these corporate banks escape accountability. "....Wachovia and most other banks accused of involvement in similar frauds have never been publicly fined or prosecuted by federal regulators for aiding telemarketing criminals."
"So some victims have turned to private lawsuits."
Another example of Bush's "you're on your own" policies towards the 98% of Americans who aren't among Bush's have's and have more's.
Bush administration regulation of anything associated with money and profit is an oxymoron.
These Bushite corporate cronies are the ones that George the Shrub protects and supports and insists that regular working Americans trust. Sure, just like they can trust him.
From a NY Times report: "Last spring, Wachovia bank was accused in a lawsuit of allowing fraudulent telemarketers to use the bank’s accounts to steal millions of dollars from unsuspecting victims. When asked about the suit, bank executives said they had been unaware of the thefts.
"But newly released documents from that lawsuit now show that Wachovia had long known about allegations of fraud and that the bank, in fact, solicited business from companies it knew had been accused of telemarketing crimes."
The NYTimes article continues, "...C.E.O. Ken Thompson, was actively involved in directing aggressive steps to correct the processes related to this situation. We are confident that the changes we’ve implemented will help protect our customers.
“ 'This could be very good news for millions of consumers,' said Kathleen Keest with the Center for Responsible Lending, a group working to eliminate abusive financial practices.
“ 'But reforms tend to happen quickly in the light of publicity, followed by backsliding when the spotlight fades,' Ms. Keest added"
And like Bush and his lying, hypocritical, criminal administration, these corporate banks escape accountability. "....Wachovia and most other banks accused of involvement in similar frauds have never been publicly fined or prosecuted by federal regulators for aiding telemarketing criminals."
"So some victims have turned to private lawsuits."
Another example of Bush's "you're on your own" policies towards the 98% of Americans who aren't among Bush's have's and have more's.
Bush administration regulation of anything associated with money and profit is an oxymoron.
These Bushite corporate cronies are the ones that George the Shrub protects and supports and insists that regular working Americans trust. Sure, just like they can trust him.
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