ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Feb 04 14:37

Are Gold and Silver Miners in a hole?

Feb 04 14:28

Privatization on Steroids: Emergency Manager Who Switched Flint Water Resigns From Detroit Schools

Congress is holding its first hearing today on lead poisoning in the water supply of Flint, Michigan.

Feb 04 14:08

This Market Indicator Is Predicting a Crash

Feb 04 13:35

Gold on Track for the Mid-Benchmark Rally

Feb 04 13:07

Wells Fargo Insider Says Bank Is Preparing For Emergency Scenario

If taken at face value and believed, why would Wells Fargo be doing this? What “emergency” could take place that might cause people to swarm to a bank in such numbers that they would have to lock the bank and only allow three customers in at a time?

A bank collapse? An economic collapse? a Currency collapse?

None of these things would be good and if the claims above are true, it is a dangerous signal to the rest of us to get some money out to tie-us-over for a month or so in the event everything shuts down.

In a banking emergency, CREDIT AND DEBIT CARDS WILL NOT WORK. ATM’s will not work. Banks will be closed so that you cannot even enter your own safe deposit box.

Do you have enough cash money on-hand to get through for a couple weeks operating solely on cash? If not, you’d better get that taken care of — fast.

Feb 04 12:58

Did Something Blow A Hole In The Fed’s Balance Sheet?

The basis for this analysis is a video published today by Mike Maloney titled, Is A Financial Crisis Being Covered Up? My hats off to Mike for finding this data from the Fed because I would not have otherwise been looking for it. To help think about the analysis below, keep in mind that the Fed’s balance sheet is an aggregation of all of the Regional Fed balance sheets, which themselves are an aggregation of the banks that are members of each Regional Fed.

Feb 04 12:31

Interview 1133 – New World Next Week with James Evan Pilato

any excuse for a power grab
forcing you into bankster clutches
and designer babies for those who can afford them

Feb 04 11:55

Job cuts surged 218% in January

Feb 04 11:33

Why We’re Bearish On U.S. Housing

Feb 04 11:11

Taiwan Derivative Blow Up: A Nice Case-Study

Feb 04 10:51

Pension Fund's woeful return on investment will leave taxpayers hurting

You got lucky from 2010 to 2014, when you averaged about $552,000 a year. You were so flush that, in 2015, you gave your dependents a little extra, about $61,100.

But last year, you saw your earnings slashed to $36,800. And to make matters worse, this year your earnings will be less, way less.

And all along, however, the bills have to be paid, only they'll be higher this year.

Feb 04 10:42

US Factory Orders Slide For 14 Consecutive Months As Inventory Ratio Soars To Recession Cycle Highs

With the Services economy now catching down to Manufacturing's demise (in its lagged - not decoupled - manner), this morning's news that US Factory Orders tumbled 2.9% in December (worse than expected and the biggest MoM drop since Dec 2014) offers little hope for any bounce anytime soon. This is the 14th monthly drop in YoY factory orders - something has not happened outside of a broad US economic recession.

Webmaster's Commentary: 

No one can look at these numbers, and use the phrase "economic recovery" with a straight face.

Feb 04 10:38

DAX Plunges To 1 Year Lows As Deutsche Bank CoCos Crash, Italian Bank Stocks Slide

The collapse of Deutsche Bank continues to not just accelerate but to contagiously spread...

Deutsche Bank's CDS continues to push higher...smashing European bank risk to its highest since 2013...

And now Deutsche Bank's Contingent Capital securities are crashing - these are among the lowest securities on DB's capital structure and are screaming that problems loom.

Feb 04 10:29

Philly Municipal Pension Mess

Feb 04 09:54

Speculators Misunderstood the Oil Wars and Market Meltdown

Steve LeVine says most investors thought high priced US shale would cause a boom, then thought economy would benefit from low oil prices – so far they are wrong on both counts.

Feb 04 09:50

Pettis: China's Debt Reckoning Is Upon Us

Feb 04 09:50

Bernie has Goldman Sachs CEO running scared: Sanders’ candidacy is a ‘dangerous moment’

The head of a major banking firm is “feeling the Bern” but not in the way many of Vermont Sen. Bernie Sanders’ voters are.

Goldman Sachs CEO Lloyd Blankfein said Sanders is tapping into class-based anger against growing inequality and called his candidacy a “dangerous moment.” Blankfein was speaking Wednesday on CNBC’s “Squawk Box,” according to Politico.

“It has the potential to personalize it, it has the potential to be a dangerous moment. Not just for Wall Street not just for the people who are particularly targeted but for anybody who is a little bit out of line,” Blankfein said. “It’s a liability to say I’m going to compromise I’m going to get one millimeter off the extreme position I have and if you do you have to back track and swear to people that you’ll never compromise. It’s just incredible. It’s a moment in history.”

In January, Sanders was asked to list examples of corporate greed, and he listed Blankfein, according to Politico.

Webmaster's Commentary: 

A short memo to Lloyd Blankfein: sir, what the too big to fail banks did to so many when the mortgage and economic crises hit, coupled with relentless offshoring/outsourcing of jobs, has many Americans furious, underemployed, and economically on the skids.

They have an absolute right to their anger; the question is, how will that anger be expressed?!? As a Christian pacifist, who never advocates violence (because violence is something the Federal government is ready to suppress, with extreme prejudice), I am hopeful that the anger people feel will not be expressed through violence.

Unfortunately you, and those like you, are incapable of having a profoundly necessary "Buddha on the Road moment", because you have become deaf, dumb, and blind to the misery so many of the policies you champion have caused.

But there is a question that you and your colleagues need to address: if candidates for both parties are simply "pre-manufactured" and both completely beholden to the major corporations and banks, what does that say about the American political process?!?

Such choices, by the Democrats and Republicans, would ultimately and logically mean that the American people have absolutely, utterly no say whatsoever in the political process, and it is so crooked that the corporately "chosen" politicians have to screw their socks on in the morning.

The Fed needs to be abolished; money should become a public utility, and not a loan at interest; the allegedly "too big to fail" banks need to be broken up, and the needs of the people, not the needs of the corporations, must again become the first, and foremost priorities for this government.

The so-called "financial establishment" has had more than enough time to fix those fundamental, integral problems which have been destroying the American economy, and with it, its people, and has failed, utterly, miserably, and horrifically.

This, sir, ultimately, cannot continue, and I hope the change coming in this country will be peaceful

Feb 04 09:38

Shell CEO confirms 10K layoffs due to merger with BG

The CEO of Shell early Thursday confirmed there will be 10,000 layoffs as the company merges with BG Group and deals with lower oil prices.

"The completion of the BG transaction, which we are expecting in a matter of weeks, marks the start of a new chapter in Shell, rejuvenating the company, and improving shareholder returns," CEO Ben Van Beurden stated in a press release. "As we have previously indicated, this will include a reduction of some 10,000 staff and direct contractor positions in 2015-16 across both companies."

The announcement comes after the company reported a 44 percent drop in Q4 earnings.

Feb 04 09:38

US layoffs surge to 6-month high

Layoffs surged in January to the highest levels since July as employers in the retail and energy sectors pulled out the pink slips, according to a private survey out Thursday.

U.S.-based companies announced 75,114 planned job cuts last month, up more than 200 percent from a 15-year low in December, according to global outplacement firm Challenger, Gray & Christmas. That figure was also 42 percent higher from a year ago.

Feb 04 09:22

Currency Wars and 'The Big Reset'

Feb 04 09:19

Bills Seek Transparency of Shell Companies

Bills requiring greater transparency of shell companies were introduced in Congress on Wednesday, continuing a yearlong legislative effort to shine light into one of the darkest recesses of business dealings in the United States.

Shell companies, often limited liability companies, are registered at the state level and, in numerous states, the government is not given the name of the person who actually owns the company. This opacity is a significant barrier for law enforcement authorities when they are investigating money laundering and other crimes involving shell companies.

Feb 04 09:15

Disgraced ex-IMF chief Strauss-Kahn joins Ukraine bank

Disgraced former IMF chief Dominique Strauss-Kahn has been appointed to the supervisory board of a bank owned by Ukraine's second richest businessman Viktor Pinchuk.

Kiev's Kredit-Dnipro Bank said the decision to accept Strauss-Kahn and five others to the advisory body was taken on Monday and goes into immediate effect. It added that Strauss-Kahn would serve as an independent committee member who does not represent shareholders' interests.

Pinchuk is the son-in-law of former Ukrainian president Leonid Kuchma and is believed to have holdings worth US$1.43 billion (€1.29 billion), according to Forbes magazine.

Strauss-Kahn led the International Monetary Fund from 2007 until his forced 2011 resignation over rape charges in a New York hotel. The scandal derailed the Frenchman's presidential ambitions even though it was later dismissed in court.

Webmaster's Commentary: 

Talk about a marriage made in heaven!!

And if Kredit-Dnipro Bank has made the statement that "...Strauss-Kahn would serve as an independent committee member who does not represent shareholders' interests.", it is obvious he will be representing the interests only of its owner, Viktor Pinchuk.

Unfortunately, this won't help the struggling Ukranian economy one bit, and I am sure that Pinchuk and Strauss-Khan have plans to pick up a number of failing Ukrainian businesses for a song, strip their assets, and leave many more unemployed, in the truest sense of vulture capitalism.

Feb 04 08:51

Financial intelligence of Russia, Iraq, Iran, Syria agree to fight financing IS together

Russia’s Financial Monitoring Service (Rosfinmonitoring) told TASS on Thursday that heads of intelligence services of Russia, Iraq, Iran and Syria held a meeting in Moscow on Wednesday and discussed strengthening cooperation in fighting against financing of terrorism. At the end of the meeting, Russia’s Financial Monitoring Service signed several agreements on cooperation in this sphere with Syria’s Anti-Money Laundering and Anti-Terrorism Financing Commission and Iranian Economy Ministry’s Center for Financial Intelligence and Fight against Money Laundering.

Feb 04 08:50

Six OPEC states ready for emergency meeting with non-OPEC members — Venezuela's minister

According to the minister, such OPEC member-states as Iraq, Algeria, Nigeria, Ecuador, Iran and Venezuela as well as non-OPEC members Oman and Russia have given their consent. "The idea is not only to hold the meeting but to reach particular results," he was cited as saying by Iran's news agency Shana. The official is expected to discuss the prospects of convening an emergency meeting on oil during his visit to the countries of the Persian Gulf - Qatar, Saudi Arabia and Oman.

Feb 04 08:26

Who has to work the longest to buy an iPhone?

Feb 04 08:21

Shell ready for more cost cuts as earnings fall 87 percent on weak oil prices

Shell, whose shareholders last week approved its takeover of rival BG Group (BG.L), said 2015 income fell 87 percent to $1.94 billion (1.33 billion pound), in line with analysts' estimates, as its oil and gas production unit took a big hit from slumping oil prices.

Feb 04 08:20

Bill Gross: 'Shades of 2007' as central banks flunk

Low interest rates and massive levels of central bank intervention have failed to generate strong economic growth and are beginning to endanger investors, bond guru Bill Gross said in his latest analysis.

Around the world, high debt levels combined with slow economic growth and tumbling oil prices are providing obstacles that extreme easing has been unable to cure, he said.

Feb 04 08:15

Beijing Vs DC: The Battle for Southeast Asia

By Tony Cartalucci

The Straits Times published an opinion piece by the London-based Rob Edens. Wishfully titled, “South-east Asia fast becoming unfriendly territory for China,” it attempts to portray Southeast Asia as increasingly pivoting West toward Washington, coincidentally just as Washington was “pivoting” East toward Asia...

Feb 04 08:10

Epic Battle: Hedge Funds Versus China

Feb 04 08:01

The Opaque Process of Collapse

The ultimate cost of protecting the privileges of the few at the expense of the many is the dissolution of the social order that enabled the rule of the privileged few.

Feb 04 07:20

U.S. Greater Depression is ALREADY accelerating

With the U.S. economy plummeting lower now, and the manufacturing sector leading the way down, we get another example of the media mouthpieces TORTURING the English language, in order to pretend that bad news is "good news" (or at least not-bad news).

It involves the U.S. manufacturing indices. I've explained these dynamics at least once before, but it's something that's never explained by the mainstream media (of course), so it's probably helpful to review the concepts here again. Each new, incremental reading is derived from the data which existed at the beginning of that month. That is a more technical way of stating that each month's number is CUMULATIVE, with respect to the month(s) prior to that.

Feb 04 07:20

Goldman Sachs makes oil prices drop

"We must prepare for the worst scenario but it would be nice to be proven wrong" - is the leitmotif of virtually all major news-makers. And it is becoming obvious that the oil cartel OPEC, that, incidentally, has been created to protect the oil producers themselves, found itself in a very difficult position because of all that.

Possibly, the cartel members realized that it is much better to keep oil prices high and by doing so to help the competitors with the shale mining (fracking), or to produce at a low price, than not to produce at all. Mikhail Leontieff has been keeping a close look at the markets and his attention was drawn to the fact that the most pessimistic forecasts are being voiced by the most active players.

Feb 04 06:53

Goodbye Petrodollar: Russia Accepts Yuan, Is Now China's Biggest Oil Partner

At the start of the decade, Saudi Arabia enjoyed a 20% share of Chinese crude imports, while Russia was lagging far behind with 7%. Now the Saudis find themselves neck and neck with Moscow for the lead in Chinese market share, with both performing in the 13-16% range. But Russia's share continues to rise, as The Kingdom struggles to maintain a foothold. Why? Analysts attribute Russia's huge market share growth to its willingness to accept yuan, while Saudi Arabia is still clinging to blood-soaked dollars...

Feb 04 06:51

19,000,000,000,000 Reasons America Is in Deep Trouble

Debt is expected to exceed $23 trillion by end of the decade...

Feb 03 20:39

A Golden Age for Pentagon Waste

As we have often noted one of the giant logs stuck in the eye of many conservatives, people who typically argue for smaller government, is that they often defend military spending with little reservation. Defense, we are told is enumerated in the Constitution and as such is a legitimate expenditure. And yes, defense, is enumerated in the Constitution. Massive unchecked spending, undeclared wars, and bases around the world are not however enumerated in the Constitution.

Feb 03 17:33

EX-IMF chief Strauss-Kahn joins Ukraine bank

Disgraced former IMF chief Dominique Strauss-Kahn has been appointed to the supervisory board of a bank owned by Ukraine's second richest businessman Viktor Pinchuk. Kiev's Kredit-Dnipro Bank said the decision to accept Strauss-Kahn and five others to the advisory body was taken on Monday and goes into immediate effect. It added that Strauss-Kahn would serve as an independent committee member who does not represent shareholders' interests.

Feb 03 17:32

Federal Reserve Going Back To ZIRP

Feb 03 17:18

Toxic Pool of Bad Loans Threatens World Economy

Beneath the surface of the global financial system lurks a multitrillion-dollar problem that could sap the strength of large economies for years to come. The problem is the giant, stagnant pool of loans that companies and people around the world are struggling to pay back. Bad debts have been a drag on economic activity ever since the financial crisis of 2008, but in recent months, the threat posed by an overhang of bad loans appears to be rising. China is the biggest source of worry. Some analysts estimate that China’s troubled credit could exceed $5 trillion, a staggering number that is equivalent to half the size of the country’s annual economic output.

Feb 03 16:27

Oxfam Says Privatization, Tax Havens Drive Global Inequality to Staggering Levels

Extended web-only interview with Raymond Offenheiser, president of Oxfam America.

Feb 03 16:11

The Global Conspiracy to Ban Cash: “Regulated, Restricted and Phased Out” Of Existence

If you’ve ever wanted to live in a world where bankers hold all the power, not just over money but over people too, then you have a lot to look forward to.

Feb 03 15:50

The Continuing Demonization of Cash

The insidious nature of the war on cash derives not just from the hurdles governments place in the way of those who use cash, but also from the aura of suspicion that has begun to pervade private cash transactions. In a normal market economy, businesses would welcome taking cash. After all, what business would willingly turn down customers?

Feb 03 15:22

The Global Conspiracy to Ban Cash: “Regulated, Restricted and Phased Out” Of Existence

If you’ve ever wanted to live in a world where bankers hold all the power, not just over money but over people too, then you have a lot to look forward to.

They have planned the future in secret, and cash is not in the plan.

It is already happening in dozens of advanced countries around the world.

Read more at SHTFplan.com

Feb 03 15:05

Goldman Sachs chief: Sanders's criticism is 'dangerous'

he head of Goldman Sachs believes being singled out for criticism by Bernie Sanders represents a “dangerous moment” for the country.

Webmaster's Commentary: 

Sanders is a danger to Goldman Sachs' WALLET!

Feb 03 14:27

America’s 60-year transformation from economic juggernaut to credit junkie

For American consumers who refused to trim back their lifestyles, their futures were financed by the bank. As you can see in the chart above, it was during the 1980s that Americans began taking on unprecedented debt. This helped make banking a lucrative business. The two exceptions were the banking crisis of 1987 and economic depression of 2008. Both times the federal government bailed the banks out, but not the lenders. The American dream has become the American nightmare.

Feb 03 14:22

Bernie Sanders and the Fraud of Democratic Socialism

The Democratic Party’s leading candidates for president both have embraced progressivism with a bear hug. Should we be shocked? Probably not. After all, is this any more shocking than the substantial support that likely Republican voters show for the bombastic Donald Trump? The fact remains that we may need intelligent debates and a general election in November, 2016, to sort some of this nonsense out.

Feb 03 14:15

‘Welcome to the new bear market…’

Feb 03 14:10

The Government is Weaning Us Off of Cash

How long has it being going on? How does it manifest in our daily lives? What will it mean for the future of our NIRP-driven central bank-controlled economic future? And how do we hedge against it?

Feb 03 12:48

The January Bear-ometer

Feb 03 11:13

Ford To Cut Hundreds Of Jobs In UK And Germany

Car maker Ford is to shed hundreds of jobs in the UK and Germany as part of a programme to save $200m (£138m) a year.

The group said it was launching a voluntary redundancy programme as it looked to slash costs across its European business, in the face of mounting regulatory costs.

Feb 03 11:07

Major brands exploiting Syria refugee kids: Charity

The report comes a day after the EU police agency Europol said more than 10,000 unaccompanied refugee children have gone missing after arriving in Europe over the past 18-24 months amid concerns that many might have fallen into the hands of sex trafficking rings or the slave trade.

Feb 03 10:19

FEDS HELPED HIDE INVESTIGATION INTO BIG BANK’S MONEY LAUNDERING FOR DRUG CARTELS

A federal judge ruled last week that the Hong Kong and Shanghai Banking Corporation (HSBC) will be forced to share a report on its business practices with the public — a decision both the bank and the Department of Justice (DOJ) fought in court to prevent. The report is based on the findings of an ongoing government audit of the bank initiated amid revelations in 2012, that it laundered money for drug cartels and terrorist organizations.

When HSBC’s sordid dealings were discovered in 2012, the DOJ declined to press charges, arguing the bank was too important to prosecute. As the Guardian reported at the time, Assistant Attorney General Larry Breuer argued “the Justice Department had looked at the ‘collateral consequences’ to prosecuting the HSBC or taking away its US banking license. Such a move could have cost thousands of jobs, he said.”

Webmaster's Commentary: 

Yes, I know I have become cynical; but sometimes, dang it, it's just hard to keep up with all the shenanigans going on!!

Feb 03 10:06

New Law In London Would Fine Homeless £1,000 For Sleeping Outside Or “Loitering”

By John Vibes

The homeless people in Hackney, London are facing expulsion from the street due to a new law will allow the police to give out fines and other legal penalties to homeless people who are found loitering, begging and sleeping in commercial places.

This “Public Space Protection Order” which was introduced by the council of Hackney will place a fine of £1000 on homeless activities. The order has been met with numerous criticisms, with many pointing out that the new laws effectively outlaw homelessness...

Webmaster addition: If the homeless had £1,000 they would not be sleeping in the streets! So what will happen is they will be arrested and thrown in prison for not paying thew fine ... which gives them a bed, a roof, and three meals a day. So why not just give the homeless a bed, a roof, and three meals a day and save all the legal costs?

Feb 03 10:02

A coming bull market everyone is ignoring!

Feb 03 08:54

New financial MELTDOWN set to sink EU as German banks lose £14,292,610,000.00 in 90 DAYS

EUROPE'S biggest economy was plunged into fresh chaos tonight amid warnings a new financial crisis in Germany could destroy the EU.

Webmaster's Commentary: 

The US markets are not doing well, either! The DOW is back in the 15000s.

Feb 03 08:53

You Deserve the Right to Repair Your Gadgets

Webmaster's Commentary: 

You buy a cell phone, a computer, or a software driven car. You own it and can do what you want with it, right?

Not so fast ...

Feb 03 08:50

FEDS HELPED HIDE INVESTIGATION INTO BIG BANK’S MONEY LAUNDERING FOR DRUG CARTELS

A federal judge ruled last week that the Hong Kong and Shanghai Banking Corporation (HSBC) will be forced to share a report on its business practices with the public — a decision both the bank and the Department of Justice (DOJ) fought in court to prevent. The report is based on the findings of an ongoing government audit of the bank initiated amid revelations in 2012, that it laundered money for drug cartels and terrorist organizations.

Feb 03 08:46

French farmers demand to lift anti-Russian sanctions

'I want to remind that it has been two years since the embargo imposed by Russia has been hanging over us. We should start trading meat, fruits, vegetables and diary products with Russia in a normal way,' Beulin stated.

Feb 03 08:45

SECRETARY OF DEFENSE ANNOUNCES HOW HE'LL WASTE $582 BILLION

You hear that? It’s the sound of 582 billion dollar bills falling down an infinitely deep hole, as narrated by your Secretary of Defense, Ash Carter. Yes, his name’s Ash. And yes, he’s going to spend a couple billion defending outer space from ISIS. In a speech delivered and published today, Carter outlined some of the ways in which our great and war-craving nation will squander over half a trillion dollars in Fiscal Year 2017. It ain’t good:

Feb 03 08:29

Expect the War on Cash to Accelerate as Negative Interest Rates Come to the U.S.

Like an ambush, it has to come by surprise…

Whenever you hear a central banker or politician say something won’t happen, you can almost be certain it will happen. And probably soon.

Coming from a bureaucrat, the real meaning of “no, of course not” is “it could happen tomorrow.”

It’s like the old saying: “Believe nothing until it has been officially denied.”

Feb 03 08:02

10 Investment Rules From Investing Legends

Feb 03 07:52

Germany Unveils "Cash Controls" Push: Ban Transactions Over €5,000, €500 Euro Note

On Tuesday we got the latest evidence that officials across the globe are preparing to institute a cashless “utopia” when Handelsblatt reported (in a piece called "The Death of Cash") that the Social Democrats - the junior partner in Angela Merkel’s coalition government - have proposed a €5,000 limit on cash transactions and the elimination of the €500 note. Berlin is using a familiar scapegoat to justify the plan: the need to fight "terrorists" and “foreign criminals."

Feb 03 07:41

Why We Won’t Have a “Lehman Moment” in the 2016 Crash

By refusing to allow a house-cleaning of risk, leverage and mal-investment, central planners have simply pushed the risk into systems they don’t control

Feb 03 07:37

Yahoo to cut its workforce by 15%

The job cuts will reduce the number of its employees to about 9,000 by the end of 2016.

The announcement came as Yahoo reported a $4.3bn (£3bn) loss for the year.

Feb 03 07:23

US economic growth slows sharply

Feb 03 07:16

For Once, Low Oil Prices May Be a Problem for World's Economy

“I never thought I would wish, let alone pray, for higher oil prices, but I am,” said Han de Jong, chief economist at ABN Amro Bank NV in Amsterdam. “The world badly needs higher oil prices.” The problem is that the world’s economy relies far more today on emerging countries than 15 or 25 years ago - the last periods of ultra-low oil prices. In another twist, the U.S. has emerged to vie with Saudi Arabia and Russia as the world’s biggest oil producer. In the past, the harm done to exporters was more than offset by importers’ gains. And with the exception of China and India, most big emerging countries are oil and commodities rich. Such economies now account for about 40 percent of global gross domestic product, about double their share in 1990, according to the International Monetary Fund...

Feb 03 03:49

This Is Getting Ugly--- As In 2008 Ugly

Feb 02 23:53

Pentagon Wants Fourfold Increase in US European Military Spending to Deter Nonexistent Russian Aggression

hang on to your military-age children and your wallets

snip: US military spending already matches or exceeds budgets for all other nations combined, including foreign, homeland, numerous miscellaneous categories, unlimited black budgeting, frequent add-ons and unconstrained defense contractors’ cost overruns, amounting to trillions of dollars of waste, fraud and abuse over time.

Feb 02 18:32

Feds Helped Hide Investigation into Big Bank’s Money Laundering for Drug Cartels

By Carey Wedler

A federal judge ruled last week that the Hong Kong and Shanghai Banking Corporation (HSBC) will be forced to share with the public a report on its business practices — a decision both the bank and the Department of Justice (DOJ) fought in court to prevent. The report is based on the findings of an ongoing government audit of the bank initiated amid revelations in 2012, that it laundered money for drug cartels and terrorist organizations...

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