Pyrpolizer wrote:Paphitis wrote:Pyrpolizer wrote:Paphitis wrote:
Banks have been hauled before the courts and through Congressional and Royal Commissions.
When did that ever happen in Cyprus?
I'm really sorry Pyro, but if I was a crook, Cyprus would be the place to go too. America not so much because you will do the time there and it won't be nice.
A quick Google search would have answered your questions Paphitis.
Use this Keyword: πρόστιμα κεφαλαιαγοράς
TheFinancial Crisis in Cyprus has destroyed lives and families Pyro.
I ask you again. Why are the Directors and CEOs out Scott free? Why are they not facing an inquiry or or inquest at the very least. Why haven’t they been charged.
They created this crisis.
Now, we can all pretend these problems don’t exist right and bury our heads in the sand. But what good is that? Sometimes you need to see things through the prism of Cypriot eyes from the diaspora. People who have lived in other jurisdictions and will tell you that things don’t quite stack up for Cyprus. We would love Cyprus to be a Monaco but right now it has a reputation of anything goes if you have the money and influence. Plus you are in bed with the Russians. It’s actually disgusting.
What are you talking about man??
First of all Banks are PRIVATE companies, and neither you nor me has the legal knowledge to dispute what has already been done.
It's not the Banks who created the crisis, it's the European Central Bank who fueled Laiki with 12(?) billion ELA in just 6 months, plus their sudden imposing of new rules turning our Banks into trash because of the criteria they wanted to set on what is a non performing loan.
Banks in Cyprus were always not 100% but 1000% secured in multiple ways when they were giving out loans.
They knew there was no way for anyone to get away when they were getting both personal guarantees and immovable property.
Sooner or later they would pay.
It's the same people in the EU who not only straggled our Banks but also imposed the haircut on deposits as an experiment which gave our economy the final blow. If our economy was really that bad we would never recover. Just the fact that in 5 years we are about to have a surplus proves that our economy was always doing fine.
You may think that it's easy to put someone in jail for causing a financial crisis, but tell me which of the Lehman Brothers or Citigroup who started the International crisis has ever been criminally charged.
Some small fish from small Banks in the USA were in fact convicted, none from the Wall street or the "Golden Cows"....
Fucking bullshit they were secure when 98% of their loans were non-performing.
yes Pyro, they are responsible for the crisis alright and the Government has every right to audit them and investigate their practices. They didn't.
That is the problem. In the USA or Australia, we have our scandals too. A Bank has never gone down in Australia apart from a State Bank collapse in South Australia where that Bank had lost 8 Billion in loans about 30 years ago but it is still operating today and then there was the Lehman Bros collapse in the US.
That is the problem Pyro. The Government isn't prepared to do anything. They just copped it sweet and let thousands of families be ruined. I heard of 1 family that placed all their savings and the funds they got from the sale of their house in Australia for their retirement in a Laiki Bank account and were wiped out by Laiki. Their life work just gone forever.
If that isn't criminal, I don't know what is.
Hence, I friggin have zero trust in Cypriot Authorities or the Cypriot Banking System because they are incompetent. Ergo, you would have to be a friggin bloody idiot to put a dime into the CySec as well or a Russian criminal that has no other choice.
You guys are literally a tinpot whether you accept it not.
Then you go on and on about America. The difference between Cyprus and America is vast. Cyprus is a tinpot. In the USA there are laws and a regulatory infrastructure that is second to none when it comes to Banking and protecting consumers, and also with regard to Securities and Stock Markets. In Cyprus there is nothing like that.
If any of the stuff that goes on Cyprus were to happen in the USA, the FBI would be knocking on doors and they are not very nice.
Yeh, I don't have the ability to investigate the Banks. That is the job of the Government and the Securities and Investment Commissions. What I expect is a regulatory framework that is enforced, and to feel and be protected from these corporate as a banking Customer, borrower or investor. These are things I have noticed do not exist in Cyprus.
