4 JUNE 2018
GOLEM XIV — “Crime doesn’t pay.” Actually it does, handsomely. If you are a banker or large financial player, it pays wonderfully. You get filthy rich committing the crimes and after…you continue to get filthy rich.
What doesn’t pay is reporting crime.
Not long ago I read a rather good book about a small number of honest people who did not understand this dirty fact. It was a book telling the stories of the handful of honest and tragically idealistic insiders who blew the whistle about banking fraud and crime during the Global Bank Debt Crisis. It was full of disturbing facts. Not the least of which is that not one of their stories ended well.
All of the stories involved the whistleblower following the law and reporting their concerns. In every story the result was being threatened with punitive, some might say vindictive, legal action by the very banks whose wrong doing they had reported. In every case the ‘Proper Authorities’, in charge of regulating the banks, hung the whistleblowers out to dry. […]