"La Banca Della Cosa Nostra"

All this news on the Wall Street Journal about Mafia takeover of the Italian banking system is old news; it’s headline news because most of the English language press and virtually all of the press in the USA ignores news about our Mafia/Banking connections. Maybe the press doesn't want to question the Republican anti-regulation ideology. 

The SEC operates mostly as a trade organization for Wall Street companies. The SEC illegally and routinely destroys MUIs (Matters Under Inquiry), preliminary investigations that don't lead to a full blown investigation. See VIDEO below. The FBI is concentrating on terrorism. So there is a perfect vacuum for organized crime to virtually take over our unregulated Investment Banking in the USA and internationally.

Locally Nicky Scarfo tried but I think his boys didn’t have the smarts for Wall Street:

Scarfo's alleged companies: 

Rutgers Investment Group, LLC 

121 North Wayne Avenue
Suite 210
Wayne, PA 19087
(DON'T KNOCK NOBODY'S HOME) 

And: 

Firstplus Financial Group, Inc.

SEE: 

TUESDAY, SEPTEMBER 23, 2008 

Will FirstPlus Financial Group be part ofPaulson's bailout? 

Posted on Wed, Jun. 18, 2008  

Daidone pleads guilty to probation violation 

By George Anastasia  

"Mob associate Daniel Daidone, who served nearly three years in prison for his role in a Camden City corruption case, pleaded guilty yesterday to violating the terms of his supervised release by associating with convicted felons... 

His illegal contacts surfaced during a multistate FBI financial fraud investigation that has targeted FirstPlus Financial Group, a Texas company with alleged ties to Salvatore Pelullo, an Elkins Park businessman with two fraud convictions, and mobster Nicodemo S. Scarfo."

MarketBeat  

WSJ.com's inside look at the markets 

JANUARY 11, 2012, 11:30 AM 

LaBanca Della Cosa Nostra 

By Paul Vigna 

So, when’s the mob putting in for its bailout? 

One of the ramifications of Europe’s sovereign-debt crisis is playing out in southern Italy, where people who need loans and can’t find them from banks are turning to mob loansharks, which have taken a stranglehold on many small businesses. This has been such a windfall for La Cosa Nostra that it has become in essence Italy’s largest bank, a new report says. 

In fact, according to this report from the Telegraph, This Thing of Ours is the country’s biggest business, period.

But those Italian mobsters in expensive suits with iPhones and iPads have international banking connections.

SEE:

“Drugs money worth billions of dollars kept the financial system afloat at the height of the global crisis, the United Nations' drugs and crime tsar has told the Observer. 

Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were "the only liquid investment capital" available to some banks on the brink of collapse last year. He said that a majority of the $352bn (£216bn) of drugs profits was absorbed into the economic system as a result. 

This will raise questions about crime's influence on the economic system at times of crisis. It will also prompt further examination of the banking sector as world leaders, including Barack Obama and Gordon Brown, call for new International Monetary Fund regulations. 

Speaking from his office in Vienna, Costa said evidence that illegal money was being absorbed into the financial system was first drawn to his attention by intelligence agencies and prosecutors around 18 months ago. "In many instances, the money from drugs was the only liquid investment capital. In the second half of 2008, liquidity was the banking system's main problem and hence liquid capital became an important factor," he said.Some of the evidence put before his office indicated that gang money was used to save some banks from collapse when lending seized up, he said.‘Inter-bank loans were funded by money that originated from the drugs trade and other illegal activities... There were signs that some banks were rescued that way.’ Costa declined to identify countries or banks that may have received any drugs money, saying that would be inappropriate because his office is supposed to address the problem, not apportion blame. But he said the money is now a part of the official system and had been effectively laundered. 

‘That was the moment [last year] when the system was basically paralysed because of the unwillingness of banks to lend money to one another. The progressive liquidisation to the system and the progressive improvement by some banks of their share values [has meant that] the problem [of illegal money] has become much less serious than it was,' he said."

Drug money saved banks in global crisis,claims UN advisor 

Drugs and crime chief says $352bn in criminal proceeds was effectively laundered by financial institutions  

Rajeev Syal 

The Observer, Saturday 12 December 2009