Birds of a feather

I altered the expression to a more apt and more temporary version, it is ‘Birds of a feather intersect together’. This view is based on a few different and mostly unrelated pieces of information. To see the string on this loom, we need to make a few jumps.

The first string
The first string is seen with Reuters, who (at https://www.reuters.com/business/finance/spies-lies-losses-credit-suisses-scandals-2021-11-04/) gives us ‘Spies, lies and losses: Credit Suisse’s scandals’. Here we see “Credit Suisse pleaded guilty to defrauding investors over an $850 million loan to Mozambique meant to pay for a tuna fishing fleet and is paying U.S. and British regulators $475 million to settle the case under a deal announced in October”, we see the news and we shrug. I did too, you see the people were caught, but that is not the real deal, the issue becomes all the people who get away with it and it is a massive amount of money. I recently write about about some convicted crypto scammer who when the way Victor Fleming did (a gone with the wind joke). So there is one and there are many more. 

The second string
The second string is given to us by the Dutch NOS, a string that makes me reconsider an earlier statement. They give us (at https://nos.nl/l/2404250) ‘‘Unprecedented fraud’ in Pels Rijcken case, civil-law notaries before disciplinary court’, a case with notaries is pretty unheard of, so when I saw “only one notary was responsible for the embezzlement of approximately 11 million euros. Still, several notaries of the office have to appear before the disciplinary court” I was slightly baffled and it opened a window, or a trap door to a third story, one from the past. You see, we are so set in some of our ways that the event of one is pretty amazing, it also gives us food for thought. This comes from my decades in customer service. You see, for every one complaint that makes it to our desks, there are 30 that didn’t. At times that makes sense. People do not bother, others hide the complaint, or paint over it. Yet the larger stage is there. So if one notary is seen as a culprit, how many get away with it? Now, if someone states that this is an unfair comparison, I will agree completely, but the thought remains and the thought still has merit, even if the one out of 30 is not correct. 

String number three
This takes us back, to a TV series that reigned from 1978-1986. It was the girl Dana Plato, and for many young man she was on many minds. She ended with a terrible ending, but in part it was due to an accountant, who was seen as a much larger culprit. We get “In desperation over these traumatic events, she signed over power of attorney to an accountant who disappeared with the majority of her money, leaving her with less than $150,000. She claimed the accountant was never found nor prosecuted, despite an exhaustive search, and that he had also stolen more than $11 million of other people’s money”, an issue around 1989, the culprit was never found, whether the FBI just couldn’t be bothered (because of case pressures and resources), or because the accountant was too slippery and too good. We can only guess on this part, but the larger stage is true. If numbers hold up, with the right economics degree you can become a more wealthy and more successful criminal than any cat burglar can and that is at the forefront here.

You see, the lack of regulation and proper registration is a stage whey that so called queen of Crypto got away with a massive scam, why we see victims like Dana Plato, the notary scam in the Netherlands and the events at Credit Suisse and those are but a few of a massive pool of events. Being a criminal in this day and age is too profitable and there is no turning the tide at present and seemingly not for a long time to come. The news on Crypto scams is making that clear all over the globe. A stage that was foreseen but the administrations are too busy looking at vague accusations and too often lacking clearly stated evidence and numbers by sources like the ICIJ (just an example). 

There is no present course of relieving dangers for anyone and if you do not do your homework you will lose your money with an ever decreasing chance of EVER getting. Penny back. I believe that in part the cutting corners stage that financial institutions have is part of that, it is only part and not all. There is no clear path towards solving it, because the larger players have all stretched their credit cards for too long and the larger banks see that they have a chance to make a few billions in the process, yet the resource limits that some governments have gives some players a chance to take that risk and that is the problem, birds of a feather intersect together. If three of them play individual games, one will get away and if the one makes a deal with the other two, they all go to their beach house whistling I will alway love you, you £1,000,000 voucher. And with that the financial future is close to secure. It is a setting that is unlikely to change any day soon, no matter what some fraud divisions and the FBI claim. 

A setting we are alas forced to live with, but feel free to find that one accountant the authorities missed and hang him from the highest lamp post on Wall Street as a sign of your frustration.

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