Money, money, money

Re: Money, money, money

Postby southernfry on Tue Jul 17, 2012 4:29 pm

Lax controls at Europe’s largest bank, HSBC, allowed Mexican drug cartels to launder billions of dollars through its U.S. operations, a Senate investigation has found.

The extensive report on London-based HSBC Holdings PLC by the Senate Permanent Subcommittee on Investigations also says U.S. regulators knew the bank had a poor system to detect problems but failed to take action.


http://www.thestar.com/business/article ... tion-finds


We all know that the problem exists, but we expect the check/balance system to deal with it. Yet they all knew and ignored it. Sat on their hands while the illegal actions continued.

Why were they allowed to get away with this? The Governments keep saying they are cracking down, that laws are in place to deal with this, If so why has it gone on for so long?

They got caught but will they be punished or a slight tap on the wrist and back to business as usual?
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Re: Money, money, money

Postby CielOnTap on Sun Feb 02, 2014 3:44 pm

Do you recall how people interested in cruise ship packages should find out what flag registration applies to the ship that will take them away? The reason being that the registered country's laws apply to events aboard the ship when it is not in port and in the open water.

Now say you wanted to become a sailor and like the idea of helping to transport goods on ship, being at sea, and seeing ports in various countries. Do you know what might happen to you if your ship is involved in an incident at a port and your employer basically abandons you? Go back to the flag registration of ships-flags of convenience add to the problems of abandoned sailors who rely on charity when left at port without money, food or tickets to return home.

An article in the Toronto Star reports on one ship stuck in Greece and the fate of its crew and legal issues. Money in the shipping industry does not always extend to repatriating sailors. Sometimes saving money means abandoning ships and crew. Read on:
http://www.thestar.com/news/world/2014/02/02/world_trades_dirty_secret_abandoned_ships.html

The global trade in action.
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Re: Money, money, money

Postby CielOnTap on Fri Feb 28, 2014 10:05 am

Bitcoin, a currency that was exchanged peer to peer based on supply and demand, is in the news for its owner, Mt. Gox in Japan, has filed for bankruptcy. The reason is connected to the disappearance of a certain number of the coins. Investors have lost their money.
http://www.thestar.com/business/2014/02/28/bitcoin_exchange_mt_gox_files_for_bankruptcy_finance_minister_says_i_told_you_so.html
Places in the world where the use of Bitcoin is banned:
Some countries have reacted sternly to bitcoin’s emergence, but many people remain fans of its potential.

Vietnam’s communist government said Thursday that trading in bitcoin and other electronic currencies is illegal, and warned its citizens not to use or invest in them.

Late last year, China banned its banks and payment systems from handling bitcoin, although people still use them online. Thailand earlier put a blanket prohibition on using bitcoins and Russia has effectively banned them.
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Re: Money, money, money

Postby CielOnTap on Thu Mar 02, 2017 1:08 pm

Read an interesting article about a key factor to Amazon.com's success -tax breaks.
For many years, Amazon enjoyed a competitive advantage by avoiding the collection of sales tax in many U.S. states. The company became the world’s largest online retailer thanks partially to its sales tax strategy and to subsidies from states.

As recently as 2011, Amazon was only collecting sales tax in five states, said Carl Davis, research director at the Institute on Taxation and Economic Policy (ITEP), a nonprofit research organization focused on tax policy.

This is one of the ways by which the giant online retailer has kept its prices low compared to brick-and-mortar retailers such as Wal-Mart and Best Buy.

http://www.theepochtimes.com/n3/2225327-the-mystery-behind-amazons-low-prices-2/

If you knew your state was not collecting taxes from Amazon on purchases, how would you feel about knowing that some state budgets could use the money for needed programs or social supports? Would you reconsider your buying habits and support local businesses that are paying taxes?

This week, Amazon's cloud storage service had an outage on Tuesday. If you were online, you may have noticed error messages or cache messages on websites you were viewing. http://www.theepochtimes.com/n3/2228074-amazon-cloud-storage-failure-causes-widespread-disruption/
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