Alpine Trooper
AllCiv
. .. .. .. . citibank and burn it to the ground, thieves
Citibank is a criminal organisation.
- Thread starter philippe
- Start date
philippe
FYI, I chase trains.
ignore this post.
aelf
Ashen One
From what I see, I don't find this dubious practice or its dubious quality hard to believe. In Singapore, a prominent local bank did this to old people who could not understand what they were getting into with their retirement funds. The bank staff basically sold them the products by persuasive recommendation without bothering or wanting to make them understand the risks.
When things finally came to a head and this was revealed to the public, many people, including the government, simply pulled out the caveat emptor excuse. It's hard to beware, though, when people actively hide the dangers from you. It's like saying you're at fault for not being careful when you drove off a bridge where the drop wasn't visible because the sign you saw earlier said it was perfectly safe to go on. Clearly, what is needed more is business ethic.
When things finally came to a head and this was revealed to the public, many people, including the government, simply pulled out the caveat emptor excuse. It's hard to beware, though, when people actively hide the dangers from you. It's like saying you're at fault for not being careful when you drove off a bridge where the drop wasn't visible because the sign you saw earlier said it was perfectly safe to go on. Clearly, what is needed more is business ethic.
Here's a translation I made from babelfish. I have not proofread this translation for errors. Or anything.
http://babelfish.yahoo.com/translate_txt
~~~~~~~~~~~~
' Citibank is criminal organisatie'
Thus goes that. The one moment you sit tubs concerning a mount OCMW-dossiers, the other moment gets you a reporter to the line which a piece concerning poverty wants write. ' Make something concerning Citibank, ' say you: for rapidly of its finished because to be, but also you all have read those files how sharpened which American bank innocent consumers strictly for the rest of their life: a credit card of Citibank is, for which does not look out, a enkeltje direction dull misery. The reporter writes its piece, Citibank touches in opspraak, and for you the weet are you the excavator of the second largest bank in the world.
It is Hans Bonte happen, SP.A-kamerlid and President of the OCMW in Vilvoorde. And stoemelings became he the spreekbuis of most vulnerable people in the society which, with thanks to their credit card, in a bottomless well of continuously larger debts and no longer to relay loans were paid. In June this year Citibank was condemned for those practices.
And now there is a new file. Two fists thick, this time: mails and letters of people who bought a placement at Citibank under false voorwendselen of Lehman Brothers, the American matter bank which has stood since in the middle of September under trusteeship. The beleggers Citibank was seduced with high profit promises and 100 per cent capital guarantee, but them their money probably never more will see again. Under the victims: prime minister Leterme and at least one other minister. The bank serves himself of its tested technique: them wast its hands in frankness. She refuses also but one pay back penny. And therefore sighs Bonte: ' Citibank is a criminal organisation. How do you call differently a company that again each day the law overtreedt? '
Hans Bonte since 2007 have brought Citibank fourteen placements of Lehman Brothers to the man. Products with throbbing names, such as Double the Opportunity Note, which were sold as a type spaarboekjes, but then with larger profits. Of course it were no spaarboekjes; it were risky placements. Behind the fancy labels of the placements drunk simply a parcel shares of Lehman Brothers.
Lehman-producten have negociated much Belgian banks. Only: Citibank is with that continues continue long after Lehman had come in problems. Deutsche Bank, Swiss understood life and Ethias rapidly: this does not come good. And they stopped. Citibank said: ' We put still tandje bij.' And they went more sales.
HUMO well introduced grant observers had already tipped Lehman Brothers in spring as possible victim of the credit crisis.
Bonte (nods) in March was it already clear. When talents them a press conference to announce restructuring. They told that they went in search to 25 billion dollar. And that brings us at the nature: Citigroup, the mother company of Citibank, have financial interests in Lehman Brothers. In other words: as Lehman Brothers bankruptcy goes, sits also Citibank in the rats. For this reason is them urgently cash will pick up. Everywhere in the world branches of Citibank have got the task to bring Brothers to the man placement products of Lehman. Pure play poker, because at that moment knew nobody or Lehman would save themselves. Also Citibank Belgium of the head office the task x billion has got to pick up with Lehman-beleggingen.
HUMO the bank went thereby a lot aggressively work: customers were asked with insistence their put savings in other placements.
Bonte I have got mails of customers who were placed under pressure concerning the tel. in seven hurry themselves, whereupon promise the office director ' s evening rapidly still them at home binnensprong for a signature. Documents were frequently antidated, a practice which is not unusual at Citibank. Many people have this way snapped at. I understand that: it was 100 percents placement safe, with capital guarantee and six per cent interest in two years time. That is very tempting.
HUMO Citibank did not take also this way narrow with the zorgvuldigheidsprincipe that each bank must respect.
Bonte if you sell a placement, you must inform a customer accurately concerning risico' s and technicalities of the product. That stands clear in a European directive which protects the belegger, so-called MiFid-regels. At Citibank they have swept their feet there to. Them people have palmed off placements: ' Here sign, alstublieft. The brochure, the brochure and the technical sheets follow later wel.' Generally customers not even knew that Lehman Brothers who spent placements. At best circumstances it stood in fine print in the brochure which they got afterwards. Or on a publicity folder, hid behind an asterisk. On the product himself it was not mentioned.
(Lays heavy ring folder on table) this is the official code or conduct which all employees of Citibank from the head must know. A guide for selling products: what isn't possible, what must, what can? It is an official document, checked by the bank Commission. I have got this copy of someone within the company. What this way interesting is, is the notes in the fork. That is, as it happens, the semi-official directives, the truken of the carnival: ' This we hear do sister according to the law, but we do it zo.' Those notes does not get of course the bank Commission to see.
HUMO intervention Citibank then clear became that Lehman Brothers on the bottle would go?
Bonte on the contrary. A man has explained me that he in June already to its local Citibank-kantoor had stepped because he had caught alarming bulletins concerning - I cite - ' deplorabele situation of Lehman Brothers'. He wants its money, but the bank director returned him to house with the report that he had himself no make care. On Friday 15 September he returned: Lehman Brothers drunk deeply in the miserie. But the director said: ' If you do not have your money today necessary, I still even wachten.' Wel, that people wait still: Monday then Lehman Brothers have requested chapter 11 (chapter from the American faillissementswetgeving that protects destitute companies against their creditors, red.) and were frozen all money. That is nevertheless inconceivable?
http://babelfish.yahoo.com/translate_txt
~~~~~~~~~~~~
' Citibank is criminal organisatie'
Thus goes that. The one moment you sit tubs concerning a mount OCMW-dossiers, the other moment gets you a reporter to the line which a piece concerning poverty wants write. ' Make something concerning Citibank, ' say you: for rapidly of its finished because to be, but also you all have read those files how sharpened which American bank innocent consumers strictly for the rest of their life: a credit card of Citibank is, for which does not look out, a enkeltje direction dull misery. The reporter writes its piece, Citibank touches in opspraak, and for you the weet are you the excavator of the second largest bank in the world.
It is Hans Bonte happen, SP.A-kamerlid and President of the OCMW in Vilvoorde. And stoemelings became he the spreekbuis of most vulnerable people in the society which, with thanks to their credit card, in a bottomless well of continuously larger debts and no longer to relay loans were paid. In June this year Citibank was condemned for those practices.
And now there is a new file. Two fists thick, this time: mails and letters of people who bought a placement at Citibank under false voorwendselen of Lehman Brothers, the American matter bank which has stood since in the middle of September under trusteeship. The beleggers Citibank was seduced with high profit promises and 100 per cent capital guarantee, but them their money probably never more will see again. Under the victims: prime minister Leterme and at least one other minister. The bank serves himself of its tested technique: them wast its hands in frankness. She refuses also but one pay back penny. And therefore sighs Bonte: ' Citibank is a criminal organisation. How do you call differently a company that again each day the law overtreedt? '
Hans Bonte since 2007 have brought Citibank fourteen placements of Lehman Brothers to the man. Products with throbbing names, such as Double the Opportunity Note, which were sold as a type spaarboekjes, but then with larger profits. Of course it were no spaarboekjes; it were risky placements. Behind the fancy labels of the placements drunk simply a parcel shares of Lehman Brothers.
Lehman-producten have negociated much Belgian banks. Only: Citibank is with that continues continue long after Lehman had come in problems. Deutsche Bank, Swiss understood life and Ethias rapidly: this does not come good. And they stopped. Citibank said: ' We put still tandje bij.' And they went more sales.
HUMO well introduced grant observers had already tipped Lehman Brothers in spring as possible victim of the credit crisis.
Bonte (nods) in March was it already clear. When talents them a press conference to announce restructuring. They told that they went in search to 25 billion dollar. And that brings us at the nature: Citigroup, the mother company of Citibank, have financial interests in Lehman Brothers. In other words: as Lehman Brothers bankruptcy goes, sits also Citibank in the rats. For this reason is them urgently cash will pick up. Everywhere in the world branches of Citibank have got the task to bring Brothers to the man placement products of Lehman. Pure play poker, because at that moment knew nobody or Lehman would save themselves. Also Citibank Belgium of the head office the task x billion has got to pick up with Lehman-beleggingen.
HUMO the bank went thereby a lot aggressively work: customers were asked with insistence their put savings in other placements.
Bonte I have got mails of customers who were placed under pressure concerning the tel. in seven hurry themselves, whereupon promise the office director ' s evening rapidly still them at home binnensprong for a signature. Documents were frequently antidated, a practice which is not unusual at Citibank. Many people have this way snapped at. I understand that: it was 100 percents placement safe, with capital guarantee and six per cent interest in two years time. That is very tempting.
HUMO Citibank did not take also this way narrow with the zorgvuldigheidsprincipe that each bank must respect.
Bonte if you sell a placement, you must inform a customer accurately concerning risico' s and technicalities of the product. That stands clear in a European directive which protects the belegger, so-called MiFid-regels. At Citibank they have swept their feet there to. Them people have palmed off placements: ' Here sign, alstublieft. The brochure, the brochure and the technical sheets follow later wel.' Generally customers not even knew that Lehman Brothers who spent placements. At best circumstances it stood in fine print in the brochure which they got afterwards. Or on a publicity folder, hid behind an asterisk. On the product himself it was not mentioned.
(Lays heavy ring folder on table) this is the official code or conduct which all employees of Citibank from the head must know. A guide for selling products: what isn't possible, what must, what can? It is an official document, checked by the bank Commission. I have got this copy of someone within the company. What this way interesting is, is the notes in the fork. That is, as it happens, the semi-official directives, the truken of the carnival: ' This we hear do sister according to the law, but we do it zo.' Those notes does not get of course the bank Commission to see.
HUMO intervention Citibank then clear became that Lehman Brothers on the bottle would go?
Bonte on the contrary. A man has explained me that he in June already to its local Citibank-kantoor had stepped because he had caught alarming bulletins concerning - I cite - ' deplorabele situation of Lehman Brothers'. He wants its money, but the bank director returned him to house with the report that he had himself no make care. On Friday 15 September he returned: Lehman Brothers drunk deeply in the miserie. But the director said: ' If you do not have your money today necessary, I still even wachten.' Wel, that people wait still: Monday then Lehman Brothers have requested chapter 11 (chapter from the American faillissementswetgeving that protects destitute companies against their creditors, red.) and were frozen all money. That is nevertheless inconceivable?
These are what are called structured notes and were debt obligations of Lehman Brothers. UBS is in the same boat regarding whether they properly disclosed the risks.
http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=aBJ_0ULSgrjY
Harbringer
Your A One Flower Garden
@Phlegmeck
And now we know why those translators are a sham....
And now we know why those translators are a sham....
I don't agree. While translators aren't perfect, and they won't be for a long time, they can still provide some understanding of the subject matter. And it's "Phlegmak".
