Welcome to Capital Account. After its yearlong investigation, the Justice Department said that it will not bring charges against Goldman Sachs or any of its employees for financial fraud related to the mortgage crisis. Is this justice or, as Gerald Celente often says, is this “just us” big bankers getting away with whatever we want?
Also, Benjamin Lawsky, superintendent of the New York State Department of Financial Services threatened to revoke Standard Chartered’s banking license after accusing the bank of laundering billions for Iran. Have we found someone to take on the big banks? This action has set off backlash from Federal regulators. Are they going after the New York regulator for doing his job or is the regulator going rogue? We will discuss with Gerald Celente, Founder of Trends Research Institute & Publisher of the Trends Journal.
Plus, the Libor benchmark interest rates must be changed or replaced, says Britain’s financial regulator. The regulator also said the future of other benchmarks, including oil, gold, and stock prices, is also under scrutiny. We ask Gerald Celente if there any place to invest that is not rigged.