The perfect crime...is professional organized crime

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Re: The perfect crime...is professional organized crime

Postby admin » Sat May 18, 2019 11:17 am

This film work from 2011 now makes a great deal more sense, in hindsight.

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https://www.youtube.com/watch?v=UbACCGf6q-c

Published on 31 Oct 2011

This 2009 entertaining documentary film explores the history of banking, the selling out of the prosperity of Canada, the clearance sale of Canadian businesses and the political liquidation of public infrastructures to the multi-national corporate oligarchy. How has this led to the biggest economic crash / recession / depression in Canadian history? Could it have something to do with our politicians listening to international bankers and corporations instead of the people Canada? How does the Canadian banking system really work? How does the central Bank of Canada compare with the American Federal Reserve?


This movie presents these issues that affect every Canadian from the perspective of and delivered by concerned youth in a astute and colourful manner. This is a serious journalism piece that asks the tough questions directly to such politicians as Former Prime Minister of Canada Paul Martin, Canadian Finance Minister Jim Flaherty, Green Party Leader Elizabeth May, Ontario Gas Man Dan McTeague, NDP Leader Jack Layton, Mayor of Oshawa John Gray, Former Prime Minister of Canada John Turner and many more!
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Re: The perfect crime...is professional organized crime

Postby admin » Sat May 18, 2019 9:20 am

https://www.youtube.com/watch?v=91cxRah-VfM
“no more than organized crime”
“living the high life on criminal acts”
"losses run into many, many billions of dollars”
“white collar crime in the City of London totally dwarfs blue collar crime”
“at worst an organized crime gang....”
“has almost destroyed the world economy...”


@GeorgeGalloway
Former British Member of Parliament




Five Minutes worth watching to see why the world can no longer afford nice things....

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Re: The perfect crime...is professional organized crime

Postby admin » Fri May 17, 2019 7:56 pm

https://leftfootforward.org/2019/05/prem-sikka-how-uk-regulators-have-covered-up-corruption-and-fraud/

Prem Sikka: How UK regulators have covered up corruption and fraud
Prem Sikka
March 17, 2019

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Left Foot Forward

Corporate cover-ups go right to the top, writes accounting expert Professor Prem Sikka.


Why is the finance industry so mired in scandals?

The UK has had a banking scandal in every decade since 1970s, culminating in the big financial crash in 2007-08. The finance industry has also excelled at mis-selling financial products, such as mortgages, bonds and payment protection insurance; and rigging interest rates and foreign exchange rates.

People look to regulators to curb pernicious practices, but regulators are more interested in protecting corporations and elites than citizens.


The latest example of this thesis is provided by revelations this week: behind the scenes, the Bank of England (£) warned prosecutors not to bring criminal charges against Barclays Bank.

The background is that the Serious Fraud Office (SFO) had charged Barclays PLC and four individuals with conspiracy to commit fraud and the provision of unlawful financial assistance. The charges arose out of Barclays PLC’s capital-raising arrangements with Qatar Holding LLC and Challenger Universal Ltd in 2008, as well as a US$3 billion loan facility made available to the State of Qatar acting through the Ministry of Economy and Finance in November 2008. In October 2018, the High Court ruled against the SFO’s application to reinstate the criminal charges previously dismissed in the Crown Court.

The Bank of England apparently opposed criminal action on the grounds that a corporate criminal charge would present a small, but not insignificant, threat to Barclays’ safety and soundness.
This begs the usual questions about the independence of the elites running the regulatory institutions and their desire to protect the industry rather than people.


A legacy of illegality

The Barclays case is not unique. The financial regulators have a habit of burying scandals and ignoring the stench of corruption. The Tomlinson Report, published in 2013, provided evidence of systemic abuse of bank customers and small businesses at Royal Bank of Scotland. The Financial Conduct Authority (FCA) did nothing.

The FCA commissioned a report into malpractices at RBS and decided not to publish because it was considered to be confidential – apparently content to deny customers any right to secure redress. The House of Commons Treasury Committee secured a copy and published the report, stating:

“The findings in the report are disgraceful. The overarching priority at all levels of GRG was not the health and strength of customers, but the generation of income for RBS, through made-up fees, high interest rates, and the acquisition of equity and property”.


Yet still no action from the FCA against the bank, its directors and advisers.

Massive frauds at HBOS are documented in the Project Lord Turnbull Report. The report shows that bankers enriched themselves at the expense of business clients, many of which were forced into insolvency and were stripped of their assets. The FCA has brought no action.

In this vacuum, Thames Valley Police investigated and secured criminal conviction of six bankers. Police Commissioner Anthony Stansfeld said:
“I am convinced the cover-up goes right up to Cabinet level. And to the top of the City.”


Under the rug

Successive UK governments have been adept at sweeping things under the carpet. The twentieth century’s biggest banking fraud occurred at the Bank of Credit and Commerce International (BCCI). It was forcibly shut-down in July 1991, but to this day there has been no independent investigation and the government concealed the identity of the miscreants.

The Tax Justice Network described the BCCI case as ‘possibly the biggest banking fraud in history’:
“BCCI is a story of massive-scale money laundering, bribery, blackmail, and organised crime, operating through a secrecy network involving deceit, fraud, and the brokering of power and influence around the world.”


After five and half year litigation, I secured one secret report, code named the Sandstorm Report, which shows that
individuals with high political links, connections with royal families in the Middle East, and intelligence services benefited from the BCCI debacle.


In 2012, HSBC paid a fine of $1.9bn to US authorities for its role in money laundering by drug traffickers and governments on sanctions lists. The US Department of Justice stated that the bank “accepted responsibility for its criminal conduct and that of its employees”.

Right to the top

The UK did not mount any investigation in the HSBC case. Instead, then-Chancellor George Osborne secretly wrote to the US regulators and urged them to go easy. HSBC escaped criminal charges.


Of course, the finance sector is not the only sector indulged by the Nelsonian habits of UK governments and regulators. For example, Prime Minister Tony Blair personally intervened to prevent investigation of bribes paid by BAE to secure sales of weapons. Such efforts were exposed by the US inquiries which resulted in fines on BAE.

All these cover-ups and more embolden companies and their directors to engage in corrupt practices and pose serious questions about the rule of law, nature of democracy and people’s right to know.

Little attention is paid to the plight of innocent victims of frauds and malpractices.
There is little public accountability of ministers and regulators and in this vacuum corrupt practices continue to flourish.


The UK regulatory apparatus has a tendency to protect big corporations and elites rather than the people. It is not fit for purpose.

Prem Sikka is a Professor of Accounting at University of Sheffield, and Emeritus Professor of Accounting at University of Essex. He is a Contributing Editor for Left Foot Forward and tweets here.


*********************
Related:
IN NORTH AMERICAN GOVERNANCE

12:42 Government Will Not Save You From Corporations

https://youtu.be/mCAIj3YJUmg

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Re: The perfect crime...is professional organized crime

Postby admin » Thu May 16, 2019 2:31 pm

Former RCMP money laundering expert Bill Majcher says that in his opinion,
“... the Canadian Bar Association is probably the most powerful criminal organization in Canada...”
(within 30 seconds of the time stamp below)

from about 1:19:35 in this video

https://www.youtube.com/watch?v=AbAwzUlfcJ0&t=5263s

His entire talk is well worth a listen to hear how our most trusted criminals do their work in Canada.

He begins at about 1:05:45
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France is Lost, The Fix is In: Gerald Celente & RCMP Inspector Bill Majcher
YouTube
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Re: The perfect crime...is professional organized crime

Postby admin » Wed May 15, 2019 8:34 pm

When people rob banks they are prosecuted.
When banks rob people...they get rich.
Larry Elford, 2019



Cartel
From Wikipedia, the free encyclopedia

This article is about the legal term. For other uses, see Cartel (disambiguation).

20171021_corrupt.png

A cartel is a group of apparently independent producers whose goal is to increase their collective profits by means of price fixing, limiting supply, or other restrictive practices. Cartels typically control selling prices, but some are organized to control the prices of purchased inputs. Antitrust laws attempt to deter or forbid cartels. A single entity that holds a monopoly by this definition cannot be a cartel, though it may be guilty of abusing said monopoly in other ways. Cartels usually occur in oligopolies, where there are a small number of sellers and usually involve homogeneous products.

In general, cartels can be divided into domestic and international agreements.[1] Export cartels constitute a special case of international cartels. Unlike other cartels, export cartels are legal in virtually all jurisdictions, despite their harmful effects on affected markets.[2]

Bid rigging is a special type of cartel.

People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.


— Adam Smith, The Wealth of Nations, 1776

A survey of hundreds of published economic studies and legal decisions of antitrust authorities found that the median price increase achieved by cartels in the last 200 years is about 23 percent.

Today, however, price fixing by private entities is illegal under the antitrust laws of more than 140 countries. Examples of prosecuted international cartels are lysine, citric acid, graphite electrodes, and bulk vitamins. This is highlighted in countries with market economies wherein price-fixing and the concept of cartels are considered inimical to free and fair competition, which is considered the backbone of political democracy.[6] The current condition makes it increasingly difficult for cartels to maintain sustainable operations. Even if international cartels might be out of reach for the regulatory authorities, they will still have to contend with the fact that their activities in domestic markets will be affected.[7]

See Also:
Collusion
Competition law
Competition regulator
Content cartel
De Beers
Drug cartel
Dairy cartel
Economic regulator
Industrial organization
Maple Syrup cartel
Monopsony
Organized crime
OPEC
Phoebus cartel (1925–1955), for light bulbs
Robber baron
Standard Oil
State cartel theory
Tacit collusion
Trust

Bibliography[edit]

Bishop, Simon and Mike Walker (1999): The Economics of EC Competition Law. Sweet and Maxwell.
Connor, John M. (2008): Global Price Fixing: 2nd Paperback Edition. Heidelberg: Springer.
Freyer, Tony A.: Antitrust and global capitalism 1930–2004, New York 2006.
Hexner, Ervin, The International Steel Cartel, Chapel Hill 1943.
Kleinwächter, Friedrich, Die Kartelle. Ein Beitrag zur Frage der Organisation der Volkswirtschaft, Innsbruck 1883.
Levenstein, Margaret C. and Valerie Y. Suslow. "What Determines Cartel Success?" Journal of Economic Literature 64 (March 2006): 43–95.
Liefmann, Robert: Cartels, Concerns and Trusts, Ontario 2001 [London 1932]
Martyniszyn, Marek, "Export Cartels: Is it Legal to Target Your Neighbour? Analysis in Light of Recent Case Law", Journal of International Economic Law 15(1) (2012): 181–222.
Stocking, George W. and Myron W. Watkins. Cartels in Action. New York: Twentieth Century Fund (1946).
Stigler, George J., "The extent and bases of monopoly, in: The American economic review, Bd. 32 (1942), pp. 1–22.
Stigler, George J., The theory of price, New York 1987, 4th Ed.
Tirole, Jean (1988): The Theory of Industrial Organization. The MIT Press, Cambridge, Massachusetts.
Wells, Wyatt C.: Antitrust and the Formation of the Postwar World, New York 2002.
References[edit]
^ Fellman, Susanna; Shanahan, Martin (2015). Regulating Competition: Cartel registers in the twentieth-century world. London: Routledge. p. 224. ISBN 9781138021648.
^ Martyniszyn, Marek (2012). "Export Cartels: Is it Legal to Target your Neighbour? Analysis in Light of Recent Case Law". Journal of International Economic Law. 15 (1): 181. doi:10.1093/jiel/jgs003.
^ John M. Connor. Cartel Overcharges, pp. 249-387 of The Law and Economics of Class Actions, in Vol. 29 of Research in Law and Economics, edited by James Langenfeld (March 2014). Bingley, UK: Emerald House Publishing Ltd. June 2017
^ Cini, Michelle; McGowan, Lee (2009). Competition Policy in the European Union. New York: Palgrave Macmillan. p. 63. ISBN 0-230-00675-2.
^ Lee, John (2016). Strategies to Achieve a Binding International Agreement on Regulating Cartels: Overcoming Doha Standstill. Berlin: Springer. p. 13. ISBN 978-981-10-2755-0.
^ Sagafi-Nejad, Tagi; Moxon, Richard; Perlmutter, Howard (2017). Controlling International Technology Transfer: Issues, Perspectives, and Policy Implications. New York: Pergamon Press. p. 180. ISBN 0-08-027180-4.
^ Fellman & Shanahan, p. 224.
^ Martyniszyn, Marek (2017). "Foreign State's Entanglement in Anticompetitive Conduct". World Competition. 40 (2): 299.
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Re: The perfect crime...is professional organized crime

Postby admin » Wed May 15, 2019 10:15 am

May 2019
FAIR Focus

FAIR Canada Calls for Support from Canadians
Dear Canadians,

As you can see from the Globe and Mail story below, FAIR Canada is struggling for funding to be able to properly discharge its mission of representing the interests of Canadian investors and consumers of financial products and services.

The social contract between Canadians and Canadian financial institutions is working well for the banks, insurance companies and the investment dealers. The government protects them from competition and backstops them in times of crisis.
In return, Canadians put their trust in financial institutions and these financial institutions are supposed to treat investors/consumers fairly, honestly and in good faith.
They breach this trust by hard selling financial products that are in their best interests, not yours. These products will take 40-50% (or more) of your investment returns over the next 25 years. Canadians retiring with inadequate savings will precipitate a retirement crisis for many Canadians and for governments.


The financial industry is extremely powerful and influential. In addition to the resources of individual firms, they fund lobby organizations to the tune of $10M or $100M per year. Ordinary Canadians' influence on the government is dwarfed by that of the financial industry.


FAIR Canada is the only professional national investor rights organization advocating for ordinary Canadians and needs your support. How can you help?
Help us reach more people! Send this newsletter to 3 contacts and ask them to subscribe (and ask them to send it to 3 more contacts, etc.)

Make a donation to FAIR Canada to help us advocate for better financial outcomes for ordinary Canadians. You can donate here

For lawyers, registered persons and listed companies:

In class actions, consider FAIR Canada as a potential recipient for awards or cy-pres distributions,

In regulatory proceedings settlements involving a voluntary payment, consider suggesting to the regulator that the payment be made to FAIR Canada.
Such contributions will serve the interests of retail investors and Canadian consumers of financial products and services. And it may soften the reputational damage of a civil action or disciplinary action.

Thank you for your support!

Ermanno Pascutto
Executive Director

==========

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Written by David Milstead and originally published in the Globe and Mail.

...............................................................................................................................

The primary advocacy group for Canadian investors is losing money, looking for an executive director - and struggling to survive.

"We're in a bit of an existential crisis," said Ermanno Pascutto, the founder and, now, interim executive director of the Canadian Foundation for the Advancement of Investor Rights, known as FAIR Canada. The group was started in 2008 to provide a voice for individual investors that would complement, and sometimes oppose, the investment industry's views when securities regulators developed new rules and regulations.

In recent months, FAIR Canada has submitted comments or participated in roundtables on mutual-fund sales practices, the client-financial-adviser relationship, and a proposed code of conduct for banks selling products to senior citizens.

FAIR Canada has survived in large part in recent years on a $2-million gift from Stephen Jarislowsky, the founder of investment firm Jarislowsky Fraser Ltd., and an additional $2-million contribution from the Ontario Securities Commission, which used money collected in settlements and from fines.

To read the full article on our website click here.
To read the original article on the Globe and Mail website click here.

T-REX Scores: Mutual Fund Investors Need to Know the Score!
Mutual Funds with 2% Management Expense Ratio (MER) take 40-50% of your investment return over 25 years!


How much of your mutual fund returns are lost because of investment fees?

Most investment fees are quoted as a percentage of the amount invested. So, a fund with 2% fees will cost you 2% of your total investment annually. This method can be misleading.

When you pay investment fees, you lose twice. You lose the fee and you lose some of your compounding magic. Annual fee quotations give no indication that your 'compounding loss' accelerates as the years pass.


How do you measure the impact of fees on your investments?

It's simple: calculate your T-Rex score!

T-Rex Score stands for Total Efficiency Return Index Score. It allows you to calculate how much of your total investment returns on your underlying investments translate into returns for you. The higher your T-Rex Score, the more of your investment return you get to keep. To figure out the T-Rex Score of your investments you should know: your investment amount, projected average annual return on underlying investments before fees, annual fees, and projected life of investment (time horizon).

Read the full excerpt on T-Rex Scores here.

You can input that information on Larry Bates' website to find out your T-Rex Score: http://www.larrybates.ca.

Vanisha Sukdeo has joined FAIR Canada as Director of Policy Research
Executive Director Ermanno Pascutto is pleased to announce that Vanisha Sukdeo has joined FAIR Canada as the Director of Policy Research.

Vanisha was Called to the Bar in 2007 and is a Ph.D. Candidate at Osgoode Hall Law School. She taught at Osgoode for years as a Course Director including courses such as Business Associations and Legal Process. She completed her LL.M. at Osgoode and LL.B. at Queen's Law. Vanisha's first book was published in July 2018 and her second book is set for publication in July 2019. Vanisha has published articles on a wide range of topics from corporate law to labour & employment law.
Syndicated Mortgages
On May 9, 2019 FAIR Canada made a submission regarding the CSA Second Notice and Request for Comment relating to Syndicated Mortgages. FAIR Canada had commented on syndicated mortgages in June 2018 and wrote about some of our ongoing concerns in the May 2019 submission. We wrote about welcoming the transfer of jurisdiction in regard to regulation of syndicated mortgages from the FSCO to the OSC.

FAIR held that the addition of Form 45-106F18 was useful because it requires the addition of disclosure about the speculative nature of an investment in a syndicated mortgage. While this is an improvement, we echoed our concerns from our June 2018 submission that this risk disclosure does still not go far enough because many retail investors lack sufficient financial literacy to be proficient in financial matters associated with investments in syndicated mortgages. We re-emphasized in our submission that resources within the CSA and OSC should be allocated to encourage compliance and enforcing the rules applicable to syndicated mortgage investments once in place.
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Re: The perfect crime...is professional organized crime

Postby admin » Wed May 15, 2019 8:07 am

People who rob banks are prosecuted.
Banks who rob people...keep the money.


The UK is leading a Global initiative to bring transparency to hidden systems of professionals acting in concert to enrich themselves are the expense of the impoverishment of society.

The effects are now seen in almost every developed country in the world.

https://www.transparencytaskforce.org/upcoming-events/london-16th-may-2019/

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======================

In related, the following is from The Financial Times with a web link which is not operating currently, so the article is pasted below:

deregulation and cuts take their toll: Britain has more than 180,000 offenders linked to organised crime.

. . . a series of new threats, including the increasing prevalence of so-called “professional enablers” such as accountants, solicitors and financial services employees using their expertise to help organised crime gangs, as well as the growing problem of cryptocurrencies being used to launder money.

~Prof. Emeritus Prem Sikka

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https://www.ft.com/content/b4ba97bc-759 ... 846537acab

National Crime Agency
Organised crime offenders ‘twice size of the army’, says NCA
Agency chief seeks double budget to tackle ‘staggering’ scale of problem

Lynne Owens, NCA director, warned on the growing threat of organised crime © Getty

May 13, 2019 11:02 pm
by Helen Warrell in London
Britain has more than 180,000 offenders linked to organised crime, a population more than twice the size of the army, the National Crime Agency said on Tuesday.


The UK equivalent to the FBI estimated the country is home to 37,000 “active members” of organised crime gangs, as well as 144,000 Britons identified as viewing the most harmful child sexual abuse on the dark web. By comparison, there are just over 78,000 full-time soldiers in the army.

Lynne Owens, NCA director, revealed what she called the “staggering” scale of organised crime as she lobbied ministers for a doubling of the agency’s budget to combat the growing threat.

The NCA’s annual threat assessment estimated that organised crime currently costs Britain at least £37bn a year — or nearly £2,000 per family — and kills more people than terrorism, war and natural disasters combined.


It found that traditional organised crime gangs were fracturing in favour of smaller more “dynamic” groups run by younger, technology-savvy offenders.

These groups are engaged in multiple different offences, including drugs trafficking, fraud, money laundering, modern slavery and sexual exploitation, and some are providing the child pornography found on the dark web.

The NCA recorded 3.6m incidents of fraud in England and Wales in 2018, and while there was no official estimate for money laundering, the agency said it was a “realistic possibility” that the scale in the UK was “hundreds of billions of pounds” each year.

The agency identified a series of new threats, including the increasing prevalence of so-called “professional enablers” such as accountants, solicitors and financial services employees using their expertise to help organised crime gangs, as well as the growing problem of cryptocurrencies being used to launder money.


The police have struggled to adapt to these threats following a 20 per cent cut in central government funding since austerity measures were imposed almost a decade ago. The cost savings have put pressure on forces’ regional organised crime units, which have said they cannot plan long-term operations while their financing is in doubt.

Recommended

NCA focuses on Knightsbridge’s unexplained wealth
Ms Owens argued that the NCA — which has an annual budget of £424m — would need funding closer to £1bn a year to tackle the problem of organised crime. “Serious and organised crime in the UK is chronic and corrosive, its scale is truly staggering,” she said.

“Enhancing our capabilities is critical to our national security. If we don’t, the whole of UK law enforcement, and therefore the public, will feel the consequences. Some will say we cannot afford to provide more investment, but I say we cannot afford not to.”

Ben Wallace, security minister, acknowledged that organised crime was a “fast-evolving and highly complex threat” to UK national security.

“As criminals’ use of technology evolves so must our response,” he said. “We continue to invest in the right capabilities and tools in law enforcement, across government and in partnership with the private sector.”


Rick Muir, director of the Police Foundation, a think-tank, said he believed the effort to tackle organised crime has struggled to secure funding compared to other policing areas such as counter terrorism because it does not have the same public profile.

“The challenge is that the public tend to favour visible policing and of course that’s important, but if you spend money on that then there’s less to use on these other growing threats,” said Mr Muir. “There are some real tensions here that need to be tackled.”

Philip Hammond committed an additional £160m to counterterror policing in the Budget last year. The chancellor has promised to look again at police funding in the government’s spending review due to be unveiled later this year.
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Re: The perfect crime...is professional organized crime

Postby admin » Sat May 11, 2019 7:40 pm

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WHAT WILL 34 MILLION CANADIANS THINK, FEEL AND DO WHEN THEY LEARN THAT THE FINANCIAL GAME IS RIGGED FOR THE BENEFIT OF ABOUT 10% OF THE POPULATION?

1. When people rob banks,…police and prosecutors ensure laws are enforced.

2. When banks unjustly enrich themselves at the expense of the country,…their own regulators, lobbyists and corporate lawyers ensure that laws are NOT enforced.

3. Bank robbers get away with thousands of dollars. Banks who rob society, get away with Billions.

4. Can you spot the bigger drain to society?

#Canada, #UK, #USA, #Australia #Etc

#OrganizedProfessionalCrime is #CrimePerfected
Billion $$ examples of professionals draining society at:
viewtopic.php?f=1&t=199...

#BOT #BreachOfTrust by #Securities #Regulators
#FalsePretenses
#Collusion
#OrganizedCrime
#WhiteCollarGangs and their many #ProfessionalHandmaids = a few million ppl, (give or take) who are taking far more than their fair share, by hook or by crook.

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Re: The perfect crime...is professional organized crime

Postby admin » Fri May 10, 2019 5:37 pm

HOW YOUR BANK IS RICHER THAN YOU THINK!


Collusion among Financial Professionals?

Breach of the Public Trust by Investment Industry Regulators?
Regulators selling passes to “exempt” laws?
False Pretenses by non-registered “Advisors”?
Fraudulent Misrepresentation?


How your life savings is in the “perfectly organized" hands of all of the above.

Collusion between private financial interests and Provincial Securities Commissions appears systemic.

It allows false pretenses to dupe investors into giving their life savings to “investment professionals”, without being properly informed of the lack of proper registration of 96% of these commission sales agents.

A second example of Collusion can can be seen when Securities Commissions routinely (and secretly), “exempt” private financial interests from having to follow laws.

The laws in each Provincial Securities Act are intended to protect the public interest, and yet thousands of exemptions to these laws can be found buried where no investor will ever see them. Private interests use these hidden exemptions to take financial advantage of the public.

No investor is ever informed, even if they invest their life savings into an investment which has been granted a hushed-exemption to our laws.

As one industry expert said to me,
“it is the equivalent of purchasing your Deferred Prosecution Agreement from the Securities Commission, before you actually commit your intended financial crime”.


Stan Buell, the founder of the Small Investor Protection Association of Canada, said,
“this is the equivalent of learning that some people are allowed to purchase exemptions from our traffic laws, and it allows them to drive on public highways at speeds in excess of 150 miles per hour…just because they are in a hurry. All others on the road would be put at risk if people were able to buy their way around our laws.”


Finally, from a investment industry insider, who sat on regulatory committees, told me,
“I learned that the Securities Commissions are something the industry pays for, like one might pay for an insurance policy. The price paid to fund Securities Commissions is a small “insurance premium”, which financial giants pay to ensure that they never have to worry about facing criminal or serious repercussions, for acts against the public interest. They have bought their own private police force…and everything is kept in house.”


It must be noted that private financial interests fund 100% of the salaries and expenses of the Provincially Legislated Securities Commissions, and some of those salaries approach $700,000.00 and above. Private financial interests pay over $1/4 Billion dollars per year to fund just the top four out of thirteen Canadian Securities Commissions.

The top banks in Canada made profits of $45 Billion dollars in a recent year, and the "insurance premium” of paying $1/4 Billion to a few regulators appears to be money well invested.

=======

In a related story, it was revealed that the The Financial Consumer Agency of Canada (FCAC) had recently shared with the banks (who also fund this agency) the results of their findings from a Parliamentary Finance Committee caused by several thousand people complaining about abusive or exploitive actions by Canada’s banks.

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https://www.cbc.ca/news/business/bank-e ... -1.5117035


The reports which were then shown to the public had been redacted and edited by the very banks who were under the scrutiny of the Parliamentary Committee of Finance….the collusion or influence appears to connect private financial interests with the top echelons in both Federal and Provincial Government.

As a result of this a series of complaint investigations have been requested with various Provincial Legislature Officials. Officials such as Ombudspersons, Public Interest Commissioners, Attorney General’s and so on.

Now, as each of these Legislative Officials have been asked to do, let us consider the public interest, and the amount of harm being done to Canadians, simply to benefit a group of private financial interests.

======================

If you let your life savings fall into the hands of someone who can act “contrary to your financial interests”, easily HALF of your retirement could be gone without you ever knowing what happened…and your bank or investment dealer will be "richer than you think”. It is the perfect crime.

Collusion between private financial interests and your Provincial Securities commission also lets private financial interests purchase “passes" to be exempt from the law, without having to tell the public when they are doing so.

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click to zoom in on image

Those passes give private financial interests the ability to sell you products which have the public interest protections removed…

Between the power of the banks, and the subservient role of industry-paid regulators, including your provincial Securities Commission, you are the “product” in the investment industry equation, while the industry is busy telling that you are the customer.


The illusion of you being protected by your Provincial Securities Commission from these and other acts of sleight of hand, is one in which most investors will never even spot.

I hope you will inform and protect yourself, your family and the financial security, even if it means thinking and seeing outside the box to do so.

FACT: Up to 96% of so-called advisors in Canada are using false pretenses to pull off their registration category misrepresentation.

SOURCE: CBC National News 3 min lead story March 29, 2017 https://www.youtube.com/watch?v=OsjD77KceIE&t=10s


FACT: The advantage to the falsely represented financial professional is between 2% and 4% per year in added gain to themselves and the dealer they represent.

SOURCE: OSC Chair Maureen Jensen (“two to three percent a year) https://business.financialpost.com/news ... ment-funds
SOURCE: U of T Rotman School pension vs mutual fund study ( a 3.8% annual “Haircut”) https://docs.google.com/file/d/0BzE_LMP ... yOTkw/edit

FACT: 2 percent in added costs, when compounded over 35 years would cut any investor’s future retirement security by 50%.

FACT: 3.8 percent added costs, when compounded over 35 years would cut any investor’s future retirement security by 72%

SOURCE: https://ativa.com/investment-fees-calculator/

Public complaint has been registered in several provinces and files opened in two provincial Legislative Officer offices to date.

Finally, the definition of “Organized Crime”:
Criminal Code of Canada , which states a "criminal organization" means a group, however organized, that:

(a) is composed of three or more persons in or outside Canada; and,
(b) has as one of its main purposes or main activities the facilitation or commission of one or more serious offences, that, if committed, would likely result in the direct or indirect receipt of a material benefit, including a financial benefit, by the group or by any one of the persons who constitute the group.


Screen Shot 2019-05-10 at 7.19.00 PM.png


http://www.rcmp-grc.gc.ca/soc-cgco/what-quoi-eng.htm

Larry Elford
Former CFP, CIM, APM, FCSI
Investment Malpractice Expert Witness
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Re: The perfect crime...is professional organized crime

Postby admin » Wed May 01, 2019 7:38 pm

From: Erica Johnson <erica.johnson@cbc.ca>
Date: Wed, May 1, 2019 at 5:44 PM
Subject: Re: which CBC picture is accurate? what reason did Access to Information use to deny?
To: KDF

image_2.png

Both pics are accurate - the top pic is just the response from the banks. The Access office cited a provision to protect commercial interests. Don’t know exact section - I’m out of the office today!

On Wed, May 1, 2019 at 12:20 PM KDF wrote:
After the FCAC sent the big banks a draft copy of its report on aggressive sales tactics, they replied — every page was blacked out in the documents obtained under Access to Information laws. (CBC)

image.png


More than half the pages of a draft of the report obtained via Access to Information had words or entire sections redacted. (Andrew Lee/CBC)image.png
--
Erica Johnson
Senior Investigative Reporter
CBC News: Go Public
604-662-6818
Twitter: @cbcErica
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Re: The perfect crime...is professional organized crime

Postby admin » Tue Apr 30, 2019 2:31 pm

In the news today are the names of SNC employees, executives behind thousands of dollars in illegal Liberal Party donations were revealed
https://www.cbc.ca/news/politics/snc-la ... -1.5114537 SNC-Lavalin managed to avoid charges by signing what is known as a "Compliance Agreement" with the Commissioner of Canada Elections after promising not to break the law in the future. Yet here we sit today with scandal after scandal appearing in the news.

Not in the news is that Canadians are not protected by financial regulators, in an “SNC-like” manner. In fact regulators seem to be bending over backwards to help big businesses evade justice with such things as: Compliance Agreements, Deferred Prosecution Agreements, No Contest Settlements and Exemption Orders. The Investment Industry Regulator of Canada (IIROC) is busily proposing ways to minimize penalties for perpetrators with their: Minor Contravention Program and Early Resolution Offers. Securities Commissions are focusing their attention on "burden reduction" for the investment industry.

Here is one example to illustrate the size of the problem:

Mutual fund assets in Canada totaled $1.53 trillion at the end of March 2019. https://www.ific.ca/wp-content/uploads/ ... pdf/22258/
Yet just yesterday in the news it was reported that “More than nine in every 10 funds underperformed their respective benchmark over the 10-year period. https://www.investmentexecutive.com/new ... scorecard/
Why do Canadians keep buying them? When they seek financial advice from someone they think is professional financial advisor with a duty to look after their best interests, they usually are just dealing with a commissioned salesperson. Guess what this salesperson sells...mutual funds!

When thousands of bank employees came forward to reveal scandalous behaviour they were engaing in to reach unrelenting sales quotas and keep their jobs the Financial Consumer Agency of Canad was tasked to look into this serious matter. CBC recently revealed collusion between the Big Banks, the Financial Consumer Agency of Canada (FCAC) and the Finance Department! https://www.cbc.ca/news/politics/fcac-b ... -1.5091115

In 2007, a study by University of Toronto Rotman School of Business Pension analyst, Keith Ambactscheer, found that retail investors were suffering returns of 3.8% less than the returns that professionally advised investors received, a “haircut” of about $25 Billion dollars at a time when Canadians held $700 Million in funds.
Now it is 2019 and Canadians hold about $2 Trillion in funds, making it possible that the “haircut” to Canadian investors is considerably higher than the $25 billion found by the U of T in 2007. https://docs.google.com/file/d/0BzE_LMP ... yOTkw/edit
Keith Ambachtsheer is Director Emeritus of the Rotman International Centre for Pension Management (ICPM)

In comparison:
it is estimated that organized crime costs Canadians $5 billion every year; that translates into $600 a year for a family of four. Source: http://www.rcmp.gc.ca/soc-cgco/index-eng.htm


Here is the Billion Dollar Question: WHAT IF…collusion and professional “co-operation” between politicians, regulators, and the people they are supposed to regulate and protect the public from..., could be costing Canada multiples of the RCMP estimates of organized criminal activity?



==============

Footnote:
The Criminal Code (467.1) definition is as follows: “Criminal organization” means a group, however organized that

(a) is composed of three or more persons in or outside of Canada; and (b) has as one of its main purposes or main activities the facilitation

or commission of one or more serious offences that, if committed,

would likely result in the direct or indirect receipt of a material benefit,

including a financial benefit, by the group or by any of the persons
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Re: The perfect crime...is professional organized crime

Postby admin » Tue Apr 30, 2019 8:13 am

image.png


At 1:20
"if you really do start a business model that says, my clients aren't my clients, they are really counter-parties that I can make money off of....you shouldn't be surprised if you end up with a culture that is a greed culture that really doesn't do the right thing all the time…”


https://www.youtube.com/watch?v=23xWWsGp6vU

In a total time of about 3 min and 20 seconds, TD’s Ed Clark and Tony Robbins sum up the bait and switch that clients are subjected to at every major form, where the firm and the broker says “trust me I am your advisor”, while dishonestly hiding from clients the fact that they are mere salespersons and can (and do) treat their customers like a “counterparty" that they can make more money off of….by leading them astray.



======
Neil Weinberg, former Editor in Chief of American Banker Mag puts it into his own words in this OCT 18, 2013 article in American Banker Magazine:

“Financial Advisor Chicanery: Imagine a two-tiered health care system in which some doctors were legally obligated to do what's right for their patients and others, like snake-oil salesmen of yore, could recommend whatever treatments made them the most money, as long as they didn't kill patients outright.”


“Now imagine that the shysters did all they could to blend in with the real doctors.
That's effectively the type of system we have today among the people Americans count on to tell them how to invest their life's savings. Registered investment advisors must, by law, put clients' interests first. Many thousands of other "advisors" at places like Morgan Stanley, Merrill Lynch and smaller shops are held to a much lower "suitability" standard.”

“In essence, even though these people often refer to themselves as "financial advisors" or by some other comfort-inducing title, they're really glorified salesmen. Some do a great job serving their clients. Others don't. It's up to them. Under the law, as long as they avoid putting an 85-year-old widow into an exotic derivative with a 20-year lockup, they're bulletproof.”

“Few clients know this fiduciary-suitability gap exists. The suitability crowd has worked tirelessly to keep the standard low and the distinctions murky.
The cost to the public is incalculable but huge.” Full article is found here:
http://www.americanbanker.com/bankthink%20...%20940-1.html
========

Also add Ed Waitzer quote:

========

Wall Street Journal
"...Most people do not realize that financial advisers (also known as financial planners, financial consultants, investment counselors, money managers, portfolio managers, wealth managers and other names) come in two flavours."



http://blogs.wsj.com/experts/2014/10/09%20...%20d-brokers/


=======

CFA Peter Benedek reviews "Is Your Advisor Deceiving You?"
"The professional who is willing to violate his own duty of loyalty and care to his clients is "placing an obstacle before the blind".



http://retirementaction.com/2014/06/13/%20...%20e-16-2014/

======

Ron Rhoades Asst. Professor, Program Chair, Financial Planning Program, Alfred State College, Alfred, NY;
"I believe that holding yourself out as a trusted advisor, and not accepting fiduciary status and its burdens and restraints upon conduct, is tantamount to fraud."



http://scholarfp.blogspot.ca/2014/10/i-%20...%20lieve.html

======

Make advisors work for investors, Financial Post
"Anything else is fraud, because the seller is delivering a service different from what the consumer thinks he or she is buying. "


Edward Waitzer article, Financial Post · Tuesday, Feb. 15, 2011) (Mr. Waitzer is a Bay Street Lawyer and former Securities Commission chair, and this quote ( by another person) appeared in his article.
[url]http://opinion.financialpost.com/2011/02/14/make-advisors-work-for-investors/
[/url]

==========

Jul 5, 2012 INVESTING Wall Street Journal
Should You Go to an Adviser or an Advisor?
By JASON ZWEIG

Associated Press The New York Stock Exchange
Long ago, investors bought stocks from "customer's men," who then became "registered representatives," who in turn morphed into "investment adviser representatives." Financial planners, meanwhile, became "financial advisers" and even "wealth managers."
Much like garbagemen rechristening themselves "sanitation engineers," the folks who flog investments are tweaking their titles to make what they do seem fancier and more impressive than it is.


Screen Shot 2018-11-03 at 7.05.41 PM.png
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Re: The perfect crime...is professional organized crime

Postby admin » Mon Apr 29, 2019 9:15 pm

SIPA
SMALL INVESTOR PROTECTION ASSOCIATION
NEWS RELEASE – April 29, 2019
A Voice for Small Investors Seeking Truth and Justice

On behalf of all Canadians, the Small Investor Protection Association (SIPA) is renewing its call on our Government
· To immediately launch a Public Commission of Inquiry into financial services and investments, and the Financial Consumer Agency of Canada (FCAC)

· To establish an independent National Investor Protection Authority with the sole mandate to protect the Canadian public.
In light of CBC’s latest report revealing collusion between the FCAC, the Big Banks and the Finance Department: https://www.cbc.ca/news/politics/fcac-b ... -1.5091115
An independent public inquiry is necessary to get to the truth. The public’s voices need to be heard and not just the industry and its captured regulators. It is time to review the FCAC as well as the banks.

There appears to be a far too 'cozy' relationship between the banking industry, the FCAC and the Finance Department. The public cannot rely on the FCAC to regulate, or the Finance Department to allow for an independent review of the system, and its regulation.
The FCAC sent early versions of its investigation report to the Finance Department and the big banks with resulting edits occurring to make the report more favourable to the big banks.


Thanks to media, the bigger contextual picture is finally emerging. These revelations, along with the SNC Lavalin affair and the Ontario Finance Minister’s intervention regarding the “independent regulator” Ontario Securities Commission action relative to mutual fund fees, bring the word TRUST into a highly capitalized focus. Will we ever get the objective truth and how much more is being tainted by undue influence?

Canadians are losing their savings due to systemic fraud and wrongdoing by a financial services industry that does not put clients’ best interests first, disregarding laws or rules and regulations.
It has been possible to defraud tens of thousands of clients for up to a decade as indicated by recent No Contest Settlements by paying fines to avoid admitting responsibility and litigation. Where were the regulators?

It is essential that Government acts:
· to revise Statutes to ensure that all firms and individuals offering financial advice are held to a fiduciary standard regardless of their titles.
· to ensure those tasked with over-seeing industry conduct are impartial, willing and capable of effectively sanctioning those who persist in unfairly harvesting Canadians savings. They must levy appropriate financial fines and incarceration when warranted.
· to ensure victims are paid restitution when warranted without having to turn to costly civil litigation.
· to create an independent National Investor Protection Authority with the requisite authority to properly protect Canadians from fraud and wrongdoing by the financial services industry.
With so many highly paid regulators across Canada tasked with consumer protection mandates, the question arises why is it left to the media to break these stories? The implications here for Canadians are enormous. Given the potential extent of continuing financial harm to Canadians, it is essential that our Government takes positive action without undue delay. It must not be Caveat Emptor in a relationship that is based solidly on trust. Canadians are entrusting their hard-earned money, savings and futures with what should be trusted institutions and individuals.
SIPA – website: http://www.sipa.ca – e-mail: sipa.toronto@gmail.com

SMALL INVESTOR PROTECTION ASSOCIATION
A Voice for Small Investors Seeking Truth and Justice
About SIPA: The Small Investor Protection Association (SIPA) was incorporated (Ontario corporation number 1327366) as a national non-profit organization at the end of January, 1999. SIPA is a voice for small investors and advocates for the interests of investors.
SOURCE: Small Investor Protection Association
For further information:
Stan I. Buell, President, Small Investor Protection Association email: stanbuell@gmail.com or sipa.toronto@gmail.com
tel: 902-213-3124
http://www.sipa.ca/library/pressRelease/SIPA_PressRelease_0429_2019.pdf
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Re: The perfect crime...is professional organized crime

Postby admin » Mon Apr 29, 2019 3:20 pm

SIPA proposed a National Investor Protection Agency as far back as 2004 but Government has failed to respond. Studies, Reports, Conferences and Requests for Comments have not led anywhere.

Screen Shot 2019-04-29 at 4.19.07 PM.png


Recent revelations by the media indicate the Financial Consumer Agency of Canada is colluding with the Big Banks and the Finance Department to deceive the Canadian Public rather than reveal the truth:

https://www.cbc.ca/news/politics/fcac-b ... -1.5091115

SIPA will issue a Press Release later today to publicly ask the Government of Canada to establish an Independent National Investor Protection Authority that is not compromised by industry to ensure the welfare of Canadian citizens.

The Press Release will be available on our website http://www.sipa.ca.
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Re: To unravel the perfect crime...

Postby admin » Sat Apr 27, 2019 3:44 pm

Screen Shot 2019-04-27 at 4.43.49 PM.png



Blog article by Peter Sommer: (written in 2017 and he was years ahead of the rest of us in his understanding)

http://www.weizhentang.today/2017/11/28/when-things-go-wrong-they-can-go-so-wrong-especially-when-there-is-collusion/


When things go wrong, they can go so wrong – especially when there is collusion

November 28, 2017

Not many people have had the “fortunate” opportunity to get sued by a company that they had no contractual relationship with, were never served and then had a default judgment ruled against them which caused numerous bank accounts to be garnisheed 7 years ago which are still garnished to this day. This became the catalyst to 5 more law suits that were filed because of a malicious situation created by a vindictive plaintiff.

I would not wish this on my worst enemy but this is exactly what happened to me and is still ongoing. This is not the ideal way to learn about the wrongs of our legal system that no longer works for the average person as stated by our own Chief Justice. This also taught me about our banking system and the role that the government should be playing but they totally abuse this duty. Seeing I lost everything I ever owned because of this, I have had hours upon hours and years upon years to delve into and research the flagrant abuse of power by those who control our legal system, our banking system and our government who are without doubt all in collusion with each other.

In Canada we have a 2 tier legal system one for the rich and powerful and one for everybody else.
The one for the masses is sole destroying, time wasting, confusing, biased, unfair and far too expensive, hence the dramatic increase in Self Represented Litigants (SRLs) we see filling our courts today at all levels. This legal system will never change unless the government gets involved in changing this excuse of a system by firstly making sure that SRLs do not have to face the abuse of lawyers and judges alike and then fix everything else that is so wrong. I have learnt over the past 7 years that the government has no intention of making much needed change because in some nefarious way it suits them not to.



The above case forced me into a banking problem which gave me the opportunity to see the very worst of our banking system as well.
The CBC discovered that banks are using unethical sales practices to sell products that customers do not want or need. Even though thousands of customers and employees have come forward agreeing that this is happening, the banks and the government vehemently disagree. Would you expect anything different seeing they are in collusion with each other? The banks don’t give a damn about their customers, they are just a means to a greedy end while making absurd profits at the expense of their customers. The banks will put up one roadblock after another in order to avoid responding to customer’s complaints and problems, hoping that they might die first before they have to deal with the problem.

You need to wonder who controls who, does the government control the banks or do the banks control the government?
It does not take much research to see and understand that it is the banks that control the government. One does not need to look much further then what is currently going on with our Finance Minister, Justin Trudeau’s friends and the many other politicians regarding the offshore banking scandals. One just has to look at how the chair of The House of Commons Finance Committee, who is known to defend the privileged, handled the KPMG – Isle of Man off shore banking affair by doing absolutely nothing, as opposed to their US counterparts who put executives of KPMG in jail and fines were levied to the tune of a half a billion dollars for doing the exact same thing in the US. Why did Canada do nothing? Who were they trying to protect and cover up for?

This is the same House of Commons Finance Committee that is currently looking into the CBC’s report on the unethical sales practises of Canadian banks which will once again probably achieve absolutely nothing other than show that the government is going through the motions.

(Investor advocate comment April/2019 “this prediction came true...Committee did nothing, FCAC allowed banks to redact the report before it was released to the public)

We are already starting to hear reports like, “So far, there has been no evidence of systemic misconduct at the major banks” – 22/8/17. The Finance Minister is resisting making key changes, claiming that the, “bank watchdog agencies are fine as is.” No, Mr. Finance Minister, they are not close to being “fine as is.” Again we just have to look at the news media everyday to see what this same Finance Minister, has done, is doing and will continue to do unless a completely independent bank watchdog is put in place to stop the banks and the government’s shenanigans. (Nov 23, 2017 – Morneau sides with shareholders, not Canadian Workers in Sears closing).

“Effective regulation is required to ensure that banks do not abuse the interests of their customers in the pursuit of profit.
Unfortunately, those mandated with protecting the Canadian public have repeatedly failed to do so. Consumer protection in Canada suffers egregious problems that can and must be fixed. When it comes to regulatory power, Canada is a lightweight and processes for dispute resolution are fundamentally flawed.” Canadian Association for Retired Persons (CARP)

This behaviour of the banks, the legal system and the government do not seem to concern most citizens as long as it does not affect them directly.
This is because they only get to see part of the big picture on rare occasions. Things are very different when you get exposed to all of this at one time because you get a front row seat in seeing the corruption that exists and how the general public suffers while senior executives and the “higher ups” get away with “murder.” Listen to what Elizabeth Warren, a US Senator, had to say when she hit the nail on the head when speaking about the wrongs of the US legal and banking systems. Unfortunately this is exactly how it is in Canada as well, if not worse. Listen to her speech here.

The problems with our banking system

Corporate America places their personal agenda for greed ahead of its customers, all the while presenting a public façade of social, community responsibility and awareness, while the customer is greeted by silence, avoidance, indifference if not open hostility!

Banking and dishonesty go hand in hand. Banking culture is likely to fuel bad traits such as greed and dishonesty.
Accusations that the world of banking is corrupt are common, but now scientists have actually proven that banking breeds dishonesty. Read Here: is cheating a part of banking culture

Shame on you, TD Bank, for your shallowness, your insensitivity, your hypocrisy and most substantially, your greed!

Screen Shot 2019-04-27 at 4.48.30 PM.png


As Ed Clark past President and CEO of TD Bank said after he retired, “if you start a business model that says, my clients aren’t my clients, they are really counter-parties that I can make money off of….you shouldn’t be surprised if you end up with a culture that is a greed culture that really doesn’t do the right thing all the time…” To listen to this conversation click here: https://www.youtube.com/watch?v=23xWWsGp6vU

The solution is relatively simple if those in power really wanted to look after the people first before looking after themselves. It is basic human decency to NOT be abused by persons who are in positions of trust or authority.
A proper complaints process has to be set up and be administered by a completely independent group of people without ties to the government or the banks. Their findings must be enforceable and they must have the power to fine the banks for improper and unjust enrichment, as they have in England through The Financial Conduct Authority (FCA).

The problems with our legal system

After attending the (SRL) Awareness Day at Osgoode Hall Law School within the past month, I was shocked to see what damage our very broken legal system has done to regular people and what it has cost all of them in time, money, quality of life, health issues and much more.
Something has to be done about this NOW, not when some politician decides that maybe they should start looking at the issue more seriously.
“Justice degrades with delay. The parties’ position of personal safety may be compromised and the damage may be irreparable. People whose legal issues are not resolved face ongoing difficulties. Problems spread to other areas of their lives, at significant individual and social cost.” – Canadian Bar Assoc. “Justice delayed is justice denied.”

When this is understood by all of those who govern, we will finally be making progress in some way to getting Access To Justice (A2J) for the masses because the above quote is exactly what happened to all of those I have met and spoken to including myself.

Once a litigant finally gets to court, they have to hope that they will have a competent judge who shows no bias, shows some courtesy and respect to those they judge and will make as few mistakes as possible. Unfortunately I have seen way too many judges who are incompetent and make far too many mistakes while being downright rude. Seeing judges come with outrageous privileges, they are almost immune from all forms of action.
“Judges have judicial immunity and bear no liability for their judicial errors”- Lawyer Alan Shanoff. One just has to look at how many judges have ever been fired, they are conspicuous by their absence.


At the same time the governing bodies like the Law Society of Upper Canada (LSUC) who are supposed to protect the public from overzealous, unethical, money driven lawyers who are often, “Juggling many cases, doing little work on each while churning the file for billable hours can be a best practice for generating revenue for a law firm.” – Canadian Justice Review Board (CJRB)
. The LSUC must protect the public as per their mandate instead of protecting the lawyers as I have now witnessed twice in my own cases. If you complain about a lawyer, it can take 11 months plus to get an assessment hearing and over a year to get a response from the LSUC. What is worse, is that the LSUC is immune from lawsuits by virtue of s.9 of the Law Society Act?

The same applies when it comes to protecting the public from unscrupulous judges by the Canadian

Judicial Council (CJC) and the Ontario Judicial Council (OJC).They have to stop showing bias in favour of their own instead of making the public their scapegoats, as I have witnessed as well.

It is of no use to the public to hear from the most senior politicians, minister and others as I have: “thank you for writing and I am sorry to hear this” or “it is not uncommon to hear this” or “I apologize for this happening to you” or “I appreciate you taking the time to share your experiences with the justice system” or “my ministry always welcomes input from the public regarding ways to improve our justice system” or “I sympathize with the situation you describe and realize that this has been distressing for you.” Well, if these people are so apologetic, why the hell are they not doing something about it?

This is just pure BS and lip service, admitting that there is a problem but doing nothing to solve it. There is absolutely no reason if there is the will and desire to make change that it cannot be done. This might involve stepping over those who resist change and who might become collateral damage in the process but that is just too bad. If we can put man on the moon, we surely can make the lives of Canadian citizens a lot better, should they land up with a legal problem in this litigious society. “Canadians face 35 million legal problems in any 3 year period” – Action Committee Can. So as you can see, this is a major problem, we need to see real and serious action by those in charge to make these horrendous problems and issues go away now and not in years to come.

When judges, lawyers and their relative associations become accountable to the public and are regulated by a completely competent, independent body that can enforce the rules and penalize those who are guilty, only then will we see real change and A2J
. Because at this time, “Who pays when judges screw up?”

Below are 43 of the 72 people I have written to, some more than once, about the above matters. Not one of them has had the common decency or the courtesy to respond.
Silence is the norm because those who have something to say about these matters will stay silent for fear of reprisal by their peers. They all know that all of the above is badly broken but they also know that there is no benefit, financially or otherwise for them to make these changes. They all seem to be one big happy family. Those left off the list did respond, such as Jody-Wilson-Raybould – Justice Minister and Attorney General of Canada, Thomas Cromwell Retired Supreme Court Justice and a very few others.

From the Federal Government

Justin Trudeau – Prime Minister

Beverley McLachlin – Chief Justice

Bill Morneau – Minister of Finance

Jessica Prince – Senior Policy Advisor for Justice Canada.

From the Ontario Government

Yasir Naqvi – Attorney General of Ontario

Charles Sousa – Minister of Finance Ontario

From the Legal World

The Law Society of Upper Canada (LSUC) – various people

Canadian Judicial Council (CJC) Ottawa

Ontario Judicial Council (OJC)

From Banking Associations and Watchdogs

Terry Campbell – President Canadian Bankers Association

Darren Hannah, Vice-President, Canadian Banking Association

Jeremy Rudin – Superintendent of Banking

Lucie Tedesco – Commissioner Financial Consumer Agency of Canada (FCAC)

Brigitte Goulard – Deputy Commissioner FCAC

Wayne Easter – Chairman of the House of Commons Finance Committee

Pierre-Luc Dusseault, NDP MP initially proposed hearings into the practices of Canada’s big banks

Dan Albas – Conservative MP part of bank hearing

The Banking Ombudsman – ADRBO

From TD Bank

Edmund Clark – Past President and CEO TD Bank

Bharat Masrani – CEO TD Bank

Daria Hill – Media Relations, Corporate & Public Affairs TD Bank

Brian Levitt – Chairman of the board TD Bank

Norie Campbell – currently Group Head and Chief General Counsel, TD Bank Group

Colleen Johnston – Group Head Marketing and Corporate & Public Affairs TD Bank Group, retiring 2018

Melissa Tzimas – Manager Customer Experience TD Bank

Tim Hockley – Group Head Canadian Banking TD Bank (now TD Ameritrade)

Ellen Patterson – currently Executive Vice President and General Counsel, TD Bank Group

Michael Rhodes – Executive Vice President, TD Bank Group and Head of Consumer Banking, TD Bank US,

Leo Salom – currently Executive Vice President, Wealth Management, TD Bank Group

Alison Ford – Media Relations, Corporate & Public Affairs,

Mohammed Nakhooda – Media Relations, TD Bank Group

Gillian Manning – Head of Investor Relations

Riaz Ahmed – Group Head and Chief Financial Officer, TD Bank Group

Greg Braca – currently President and CEO, TD Bank, America’s Most Convenient Bank,

Mark Chauvin – Group Head and Chief Risk Officer

Ajai Bambawale – will become Group Head and Chief Risk Officer, TD Bank Group, February 1, 2018

Teri Currie – Group Head, Canadian Personal Banking, TD Bank Group

Bob Dorrance – Group Head, Wholesale Banking, TD Bank Group, CEO & President, TD Securities

Paul Douglas – Currently Executive Vice President, Canadian Business Banking,

Frank McKenna – Deputy Chair, TD Bank Group

Legal Department – TD Bank, TD Ombudsman’s Office



Some examples of recent abuse by TD Bank

October 10, 2017, Bal Brach, CBC News reported more cover ups and refusal by TD to do the right thing.

“TD Bank customer frustrated with fraud investigation leaving him owing thousands”
“Three TD Canada Trust bank customers who claim they were the victims of fraudulent credit card and debit card transactions are accusing the bank of denying their claims without a thorough investigation”

“TD Canada Trust offered Mr. X a “one-time goodwill” gesture in the form of $2,569.68 but Mr. X declined, arguing that more than $5,000 went missing from his account. (CBC News)”



“The bank refused an interview with CBC News, but in a statement said “TD’s fraud investigations team thoroughly reviews all reported customer fraud claims in a fair, equitable and transparent manner.”- Who do they think they are kidding? “They did the minimum criteria that they had to prove to not pay me the claim and then just walked away” Mr. X said. “I think it’s a little insulting to get that offer, to be honest.”



A second case reported on the same day states,
“When CBC News inquired about this case, the customer was contacted by the bank within days and was told she would not be responsible for the charges if she agreed to a settlement which included not discussing her case publicly”
– why?

TD did the same to me twice. I have never yet to this day got a response from TD as to why they made me the 2 insulting offers which in effect was really a bribe. This seems to be standard procedure for TD. What is TD scared off by going public? Is it their reputation or are they more concerned about making less profit?

After living through this nightmare with the banks and the problems caused, the following animated video depicts

EXACTLY how our banking system works which is condoned by the legal system and government Watch here.

https://www.youtube.com/watch?v=keRwjYmtf0U&feature=youtu.be

Thanks for reading,

Peter Sommer

http://www.weizhentang.today/2017/11/28/when-things-go-wrong-they-can-go-so-wrong-especially-when-there-is-collusion/
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