Reporting on the Mexican Cartel Drug War

Veracruz: A city and state held hostage

Wednesday, August 17, 2011 |



On July 27, a group of sicarios from the Cartel de Jalisco Nueva Generacion (CJNG) identifying themselves as "mata Zetas", or Zeta Killers, release a video to the public acknowledging that they have arrived in Veracruz to free the people from Los Zetas, who control organized crime and drug trafficking throughout the state.


The CJNG is believed to be nothing more than a group of gunmen in the service of the Sinaloa Cartel.

Rumors begin to be heard that El Chapo Guzman has been seen eating in high end restaurants in the Gulf coast port city of Veracruz.

The new PRI Governor of Veracruz, Javier Duarte, inherited a state firmly under the control of Los Zetas from the previous Governor, Fidel Herrera, who is said to have allowed Los Zetas to establish that control, for a price.

Fidel Herrera was said to be in the early running for the PRI party candidacy for the Mexican presidential election in 2012.

Javier Duarte, whose campaign for Governor may have been partly financed by Los Zetas, feels increasingly threatened by that group and decides to betray them by "selling the plaza" to Chapo Guzman and his Sinaloa Cartel.

The arrival of the CJNG "MataZetas", who express respect and admiration for Javier Duarte in their video, confirms Duarte's betrayal.

The problem is that this treason has begun a fight for the plaza of Veracruz that will claim many lives, and could possibly result in the bloodiest dispute for a plaza to date in Mexico's drug war

An opinion piece in the Templo Mayor column of Tuesday's edition of the national Reforma Newspaper comfirms rumors of "El Chapo's" presence in Veracruz leading the fight for the plaza against Los Zetas.

The above rumors of El Chapo Guzman's presence in Veracruz and Javier Duarte's betrayal of Los Zetas are only speculation given a lack of hard evidence but what is certain is that extreme violence and killings have swept the state since the beginning of August.

It appears the people of Veracruz are being held hostage in what is looking like a battle for the plaza between Los Zetas and other rival groups.

Videos of innocent civilians caught in the crossfire of a street battle this Sunday in the upscale Boca del Rio municipality, which lies immediately to the south of Veracruz. This battle was between two rival groups of gunmen and brought Boca del Rio to a standstill Sunday evening as skirmishing and "narco" blockades continued into the night.

Four gunmen were killed in the fighting that according to a speaker in the second video below lasted several minutes with heavy automatic fire and grenades.

The videos show the fear and danger involved with simply going out on a Sunday afternoon in Veracruz.





Hours after the second video was posted on Youtube, deaths threats began appearing on Facebook and Twitter aimed at the young male speaker. A 15,000 peso reward for the name of the person was posted on the Balacera Veracruz facebook page but was removed shortly after.

Even the act of experiencing and documenting an act of violence, with no threats to any party, can get you and your family killed in Mexico's war on drugs.

This is the power of the "narco" to silence the nation, to hold it hostage.

Aftermath of Sunday's fighting in Boca Del Rio.





At around 7:00pm Sunday, about an hour after the confrontation in Boca del Rio,
a vehicle with gunmen on board, suspected of involvement in the earlier shootout, was being pursued in Veracruz by a Marine patrol on the beachfront Avila Camacho Boulevard.

In front of the Veracruz aquarium a grenade was thrown from the vehicle, probably meant for the Marine pursuers, and exploded among a crowd of tourists.

An unidentified family from Texcoco, Estado de Mexico, vacationing over the weekend in Veracruz was hit by the grenade blast.

The father died of shrapnel wounds at the scene, Three other tourists from Texcoco, Estado de Mexico, a woman and her two children, were also injured by shrapnel.

The mother suffered shrapnel wounds to her abdomen and a toddler suffered superficial wounds. The 5 year old daughter suffered a severe head wound.

The survivors were being treated in a local hospital and were expected to survive. The daughter's head injuries were said to be of a permanent nature.




On Thursday, August 11, thirteen people were killed in shootouts throughout the city of Vera Cruz between rival groups of gunmen and in confrontations with military forces

Five gunmen travelling in a white SUV were killed by Army troops in the Las Vegas area of Vera Cruz


Thursday afternoon another five gunmen were killed according to authorities after they ambushed a convoy of 3 buses carrying a unit of Marines in Boca del Rio.


In the fighting Thursday a Veracruz doctor, Irving Noe Hernandez, was murdered by gunmen on board a white Ford pickup that crashed into the doctor's VW Bora while escaping from an Army pursuit.

Hernandez was shot by the gunmen as they fled from their vehicle on foot, his life was taken for "getting in the way".


Saturday and Sunday, August 6 and 7, twenty people died in organized crime violence throuhjout the state of Veracruz. Nine people were killed in the violence the week before.


sources:
http://chingadanews.wordpress.com/2011/07/29/cartel-de-jalisco-el-pacto-de-javier_duarte-con-el-chapo-guzman-y-la-traicion-a-los-zetas-veracruz-verfollow/

http://www.reforma.com/editoriales/nacional/620/1239131/

http://www.pateandopiedras.com/2011/08/balaseras-y-grandazos-en-veracruz-el-video-que-el-gobernador-no-quiere-que-veas/

http://www.narcoviolencia.com/2011/08/balacera-en-boca-del-rio-veracruz-dos.html

http://www.narcoviolencia.com/2011/08/victimas-del-estallido-de-granada-en.html

http://www.narcoviolencia.com/2011/08/jornada-violenta-13-muertos-ayer-en.html

http://www.narcoviolencia.com/2011/08/sicarios-atacan-3-autobuses-militares.html

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43 Borderland Beat Comments:

Anonymous said...

What do you guys think Javier Duarte was thinking when he did this? Damm it lascano already gave me my money but now chapos offering me another juicy amount of money,fuck it i'll take it.haha what a greedy bastard.eventhough Veracruz is crawling with zetas he decided to betray them,what an idiot.You gotta love mexican politicians there greedy as hell.You can tell Javier Duarte is really just looking out for all those hardworking citizens of Veracruz,by pretyy much starting another war like the one in cd juarez which will last quite awhile.

'L 'B said...

have you heard what is happening in Syria...and Libya...and a wienstein was kidnapped in Pakistan..NOW THATS NEWS !!!!...A WEINSTEIN KIDNAPPED ...damn we got to blast that all over CNN


meanwhile ..not much about Mexico..hell it's not like it is right next door ..it is not like millions of Americans have connections there ...not like millions of Americans travel there every year

BUT THE MIDDLE EAST..DAMN NOW THAT IS IMPORTANT..at least AIPAC thinks so ...at least the screws who own all the news media thinks so

for real..why do you think there is a virtual news blackout about the carnage in Mexico? no bullshit...really... why?

Anonymous said...

Veracruz city isn't the capital of Veracruz state, is Xalapa city.

Anonymous said...

ITS GOIN DOWN IN VERACRUZ YALL!!

Anonymous said...

Not suprising, Veracruz is mighty important for the Zetas.

El_Regio said...

Anywhere that El Chapo is present there will be lots of violence. People often criticize Los Zetas however El Chapo is the worst because he is trying to take over all of the plazas.
Hopefully the Governor gets what's coming to him.

Anonymous said...

Those "mata zetas" were armed to the teeth. If they have experience/training to match their equipment then they will be a force to be reckoned with. However I'm sure the zetas are just as well armed, and even greater in numbers. I feel sorry for the people of that city. Keep us posted with updates from the ground BB

Anonymous said...

Texcoco Mex said.

@August 17, 2011 10:24 AM Veracruz city isn't the capital of Veracruz state, is Xalapa city. Yes anon you got it right, Xalapa is the capital of Veracruz, but not to many people visit Xalapa in the other hand Veracruz Veracruz or what is sometimes call Veracruz City is by the beach.
El puerto de Veracruz is also in Veracruz City the Veracruz Carnival is also in Veracruz City thats why it gets a lot of tourist.

Anonymous said...

Texcoco Mex said.

It is a shame this things are happening all over Mexico. My mother is from Veracruz and I know how beautiful it is, mi mas grande pesame para la gente que murio incluyendo a los de mi ciudad natal Texcoco Edo de Mexico.

Anonymous said...

8:24 AM

Yea i feel the same way about that subject. The war that's going on in Mexico gets no play in the United States, none. I'll be going thru most of the major news agency and not one word of what's going on down there. Once in a while you got a story about the war, but most of the times is to glorify the US involvement. Their covering something that they don't want the people of the USA to know. Still cant believe that the gun run of Fast & Furious didn't get to much play. But that how it goes in he US.

Anonymous said...

Yeah Regio, and Los Zetas get their territory and expand by good manners and friendship.

Anonymous said...

@824 you make a good point LB. I sometimes watch american news and they spent like one minute of there whole show to report on whats going on in mexico,I think its alittle weird,maybe there not interested in mexico or maybe there not interested in ppl lookoing in to it,and realizing that the US goverment has an agreement with chapo guzman,and,that they even provided him with weapons.

Anonymous said...

LB one reason the news out of mexico is doctored is because just this year most of the major mexican media made an agreement to downplay the violence.

You still saying the jews control the media? "virtual news blackout..."? that's a hard one to substantiate - unless you really get into serious anti-semitism. The world is too complex to make that fly.

However, the media have always treated mexico like a sleepy banana republic. The other problem is the media are afraid of going to mexico to get the news and they are afraid of admitting they are afraid.

The last I heard mexico was a leader in journalist assassinations.

Anonymous said...

cartels and their affiliates are enemies of the Mexican people and should be tried for treason. In Mexico treason is punishable by firing squad.WTF are they doing in jail? they dont deserve the priviledge.

El_Regio said...

@ Anon. 12:58
No you missed the whole point. First of all every one of these Cartels is plague on humanity. Second what I am saying is that El Chapo has been terrorizing Mexico for a very long time now. It began (and still exist) in Juarez trying to take over that market, next went to Tijuana, Nuevo Laredo (he failed against CDG/Zetas), and now apparently his is trying to take Veracruz! Luckily the other cartels are taking the war to him now in Sinaloa and they are taking large hits, as well as losing large loads to the government.

'L 'B said...

@ anon August 17, 2011 1:35 PM

research it yourself man..i did..it is true.it will blow you mind when you really start looking into it ..

i started out to prove some guys wrong...derrpp!!!.it is all true..i wish i didn't even know ...it is like a loss of innocence...

google movie stars...99%...it is almost unimaginable

ajulio said...

The picture of the lil' girl laying on the floor with blood coming out of her head with her parents next to her breaks my heart. Too much pain forced on the good people of Mexico. I wonder if pendejo Caldron see's these pictures.

Anonymous said...

"You still saying the jews control the media? "virtual news blackout..."? that's a hard one to substantiate - unless you really get into serious anti-semitism. The world is too complex to make that fly."

No, the world is simple. Mexico is part of the North American continent, yet receives little national(US) media coverage. Why is this so?

The Middle east is covered relentlessly yet Mexicans are slaughtered daily and not one word! The US corporate media complex is a traitorous, corrupt,and propaganda spewing industry.The horrible crime occurring in Mexico deserves worldwide condemnation, not just US journalistic ethical action.

Thank you Borderland Beat for continuing to shine light on the tragedy that is happening in Mexico. The Mexican people deserve JUSTICE!

Anonymous said...

Fuck veracruz a bunch of cockroaches out there

Anonymous said...

@ LB

FUCK THE GODAMN MIDDLE EAST... LET THE FUKN JEWS WORK OUT THEIR OWN PROBLEMS WITH THE ARABS

Anonymous said...

There will be no peace in Mexico until they drop El Chapo. He thrives on the good guy reputation of not extorting and kidnapping but he is the actual cause of 90% of it because other cartels have to do it to fund the damn wars against his greedy ass. Actually, the Zetas didn't even do much of it until Sinaloa sent La Barbie to Nuevo Laredo which was a failure much like Juarez is. He has caused more pain, suffering and death than anyone. I am getting close to even wanting the Zetas to knock his ass out just to see if it would stabilize this crap Calderon thrives on happening. Please, none of the crap about rooting for a cartel please, that isn't it. I am just ready for the winds to change. And I do not think a strong Zeta force is a solution. They are the most hideous of all of them.

"God is rarely ever early, but He is almost always right on time."

Anonymous said...

so will El Nacho's (Duranguense) crew of CDS, help clean up Veracruz? Will have to wait and see, doubt it though, since Zeta's seem to be funded by the US. But still confused, because CDS is funded by them too, just a great big mess, CHAOS!

Anonymous said...

Our love for meddling in the middle east is directly proportionate to our love for gasoline. If Mexico had more oil, we would have more love for them. LOL

'L 'B said...

@annoying August 17, 2011 9:32 PM

you have slipped up and revealed yourself...only one group demonstrates such grudging obsessive hatred

you are sick to save a comment so ancient ...but your affliction is ancient as well ..isn't it?... the enemy of mankind ..you lurk ..hidden ..waiting to ensnare ..but you have tripped in your own net

a parasite ...your common name ..with nothing of your own...you seek to take from others ...and i wondered why your comments get posted ...but not really... i could feel you ...i understand it all now..

your pride and arrogance have undone you.... you have hoisted thyself on thine on petasa


so annoying... just what is your answer as to why thousands of people are killed in Mexico..from all walks of life ..in all places..many in the most horrible ways possible..right next door..even sometimes crossing the border ..directly affecting American citizens...infringing on America territorial integrity...and so little is said ...

but any little incident ...in the middle east.. especially among certain targeted countries ..is played over and over again...national security?.. oil?...tourism?

really ?..

one guy kidnapped in Pakistan makes CNN..and 13 people killed in one day in a world famous place like Acapulco..gets not even one word...or pretty much all out war in Veracruz..gets not one word...oil?.. really?...

do you dispute that a small group of people control the press? ..that is so farfetched? ...how many news outlets does Rupert Murdoch control?...who owns CNN..Reuters...API?

why is little BB the only english version news about Mexico....not one major outlet...cbs cnn fox etc...covers it

15 to 20 million illegal Mexicans in the USA...so Americans know Mexico exists...so...really do tell me... all knowing hidden annoying...

just why does a press controlled by a small group of people direct attention towards the middle east...and away from Mexico..

DFL said...

wow! This shit is really getting out of control!!
Screw that way of life!!
Its pretty damn close to our great land and most of my fellow brother and sister Americans really have no idea whats really going down in Mexico. Our neighbors house is on fire and the flames are spreading quickly and its just a matter of time till we get burned, for we're only next door.
Any Americans who reads this tell everyone you can to go to this site, BORDERLAND BEAT.COM so that they to can aquire a better understanding of the madness and tragedy along our border and get a tiny taste of the reality of the real Drug War and the dangerous Insurgent gorilla War that is taking root and spreading that will for sure require Our Military and other coalition partners to one day put down.
American blood most likely be spilled one day in the prusuit of justice and U.S National security in Mexico and God willing that won't happen but its in human hands for now, and its a real mess thats just a few feet form our homes.
This is a National security issue. The gangbangers that are terrorizing the country can be easily be smashed with a real professional war trained military, but the insurrency thats attacking the Mexicos institutions with no resect for civility, thats a very, very dangerous group with extra evil intentions. They are well funded and supplied , they have training and recruitment camps and are building thier own army with modern equipment. They are the type of people that Americas enemies can easily hook up with and plan bad things against Us.
Americans need to open thier eyes and pay more attention to what can and will affect all of us!!
Whats going on in Mexico needs to become a U.S. National conversation with ideas and solutions and they need implematetion with reslove.

Anonymous said...

You know DFL got me thinking ,i know im getting off topic but im remembering those treaths from la linea to the DEA,i kno it was all BS but imagine if Vicente Carillo would really get mad at the DEA,he could easily get in contact with terrorist groups and cross them over since he runs Juarez,and then all of a sudden a huge terrorist attack on the US could occur haha now that would be crazy,I know its alittle crazy to think that,but its nowhere near impossible.Just a thought.

Think Tank said...

For all the horrible things I have seen, the little girl lying in the street is the saddest. First tear I have shed in this long war.

Think Tank said...

Brito, what are you talking about??? R.E. "google movie stars...99%...it is almost unimaginable"

I tried to google "movie stars...99%" and "99%" Didnt come up with anything. Please clarify

Anonymous said...

It's amazing how the government controls the media and people seemed to not care that their censoring what's going on down south. are US reporters not reporting?

The freedom of speech doesn't exist anymore. Keeping Americans as clueless as they can and its working. The only time they shine the light on whats going on in Mexico is when its in the favor of the US government either a capture, drug bust or the killing of a top narco gets some play and not to much either being the only time you watch or read it in American.

The weekly gruesome death of hundreds of Mexicans doesn't matter, its not worth mentioning.

Anonymous said...

@ LB

My family is originally from Leabanon, from a small town that still bears my toponimic last name so I can't be anti Semitic.

Sic transit Gloria mundi. Thou hast showeth venomous hatred. In alio pediculum, in te Ricinum non vides.

Can we talk about Mexico now?

Anonymous said...

@ DFL

There is a gorilla war? Where? Did you mean

Guerilla? Honest mistake if you did

Anonymous said...

@ LB

The real question is why would an American marry a younger Mexican lady, then pretend to be from Mexico after visiting there a few times, then post anti Semitic rants on an american blog purporting to be reporting on the mexican drug war?

'L 'B said...

@ DFL

you make a strong argument...

google ->flash mob attacks

combine the hatred demonstrated by these criminal gangs of violent groups with some training and organization...and you definately have all out war ..

the stew is brewing ..right here at home ..if these two groups ( the cartels )..and these gangs/mobs ever coordinate ...bad news for civilized people.. imagine these animals on cocaine

and as we all know a lot of the drugs being pushed in the USA is done by these type of gangs who have infested our cities ..coast to coast...i agree ...wake up now..or perish later


@ think tank

you are kidding right? ..

i can't say the name because it wont pass moderation...but here goes

google -> how many movie stars are jewish..

about 99% are

and i am not anti -semitic

just seeking the facts

one thing that i am "anti" is i am anti being brainwashed and cowered to the point that i am afraid to think for myself and look for the truth on my own... wherever it might take me

Buela said...

Brito...dang...I think you like the fallout you get from stirring the pot...jaja

@ 8/17 @ 9:35PM-----OIL
the liberals said we went to Iraq to access the oil...so where the hell is the damn oil? I pay just shy of 5 USD in SO Cal...you need to read other news sources rather than blogs...Mexico has an abundance of untapped oil. China realizes this and has offered the equipment lacking in Mx to drill off shore in a partnership.

Regio....months ago someone sent an email saying look for chapo to move operations to VC to take it. I have not been able to substaniate the info but asked several folks on BB beginning with "J" ...and no one respond, I assume they did not know but it would be nice to be answered. I get a lot of info from folks on the ground and thats where I got that.

To the person who said Mx is still number one in killings of reporters...yes indeed it is. read "SILENCE OR DEATH IN MEXICO'S PRESS" horrifying but informative...go to cpj.org

Paz, Buela

Layla said...

Media in Libya, Afghanistan, Iraq and the like have a degree of US military protection as they gather and report their stories. In Mexico, you only have the MX army, who will tell you 'what the hell are you doing here, its dangerous.' So, unlike Houston TV reporter a couple of weeks ago, who barely ventured into Nuevo Laredo, most wont take the risk and go. And you are right, the new 'coalition of MX media outfits' have pledged to de-emphasize the violence--so American media are relying on Mexican media for stories.

One thing I can say about this violence. I felt a moments sadness reading the story about the Mx gunman drowning in his own blood and soldiers wouldnt help him...until I read stories about 'people being in the way' and children lying on the street with severe head wounds from which theyll likely have permanent damage, and I dont feel bad for them at all. They mae their choice. And I dont blame the Mx military for shooting the hell out of them!

Think Tank said...

R.E. LB 7:39 OK, I guess I just missed the point completely. I was looking for references to Mexico. I never really distinguish too much between Jewish folks and other folks. I do love Seinfeld though!

It is certainly no secret that they control Hollywood. Just look at the credits for any show.

As far as the US press blackout, This has been on my mind for some time.

Just last week they talked on the news about 11 people being killed over the weekend (I think it was Monterrey or Aca)

They reported it like that was the "big news" out of Mexico. They are definitely deceiving the public. I dont know if they do it on purpose or they are just ignorant.

Why does Nancy G. show focus so much on the girls in Aruba. We need to make sure she sees the pics of this poor little girl and all of the other women being killed everyday.

All the other news stations just talk politics. Peoples heads are rolling and we are losing our own nation to an invading force and they just ignore it.

I call on every one of you to spread the word. I am certainly doing my part!

Oh, just check out comedian George L and his latest HBO special from San Antonio. Biggest hate speech and La Raza rally I've ever seen. You really need to watch it. Seems like he has appointed himself spokesperson for the cause and warns "white people" that in 5 years we will be "maybe" get to cut their grass.

Anonymous said...

I just think people need to move to other parts of Mexico that are less dangerous rather than hang around these Narco war zones like this I know I would had left that place long ago knowing how much the Cartels are in control but these people stay for some reason?! I just can't understand that.

Does anyone know who the shootout was between in the second video? was it Mata-Zeta's vs Zeta's or what?

Anonymous said...

I can hardly believe that they are shooting and maiming little children.

I wish I knew who these people were so I could provide financial assistance for the little girl who was maimed and her surviving family.

It's sheer horror.

Anonymous said...

Hmm CDG has his presence in veracruz aswell. Does CDG support this group?

Anonymous said...

"I just think people need to move to other parts of Mexico that are less dangerous rather than hang around these Narco war zones like this I know I would had left that place long ago"

Your poor grammar aside, are you completely stupid? You do realize that uprooting and moving to an entirely different part of the country means a) leaving your job, b) leaving your family, c) a lot of money will have to be saved and spent in costs to move there and to hold you over until you can find a job, if you can find one at all!

Not only that, but please tell me one place in Mexico that isn't affected somehow by the cartel violence.

Idiot narcissist.

Anonymous said...

The drug cartels are just tools used to further dismantle the heart and soul of the Mexican people by who or what and for what purpose. The hunger for the drug by Americans. two countries that turn there eye from police and civil and military corruption . secret society that control these governments .Big banks that form these evil unions of state.you get away to fuck up the people so you can have many reasons to take their freedom they won . your fathers fathers fought for a war that won their independence for both country and then you elect men ,put them in charge to sell your country back to the people you won them from .this is a war of minds .you see only the thugs or goon squads .they are pons . they kill there country men for dollars that are or will be worthless once the new world takes over . They are worser then the Indian tribes that helped the gringos kill off their own people yes you care for life but you should of though of that along time of go instead of just wanting the good life.Mexico right now is being sold to China .They are killing off your people with drugs instilling a devil culture and removing freedom and safety of your lives .you will be hunted just like the Indians place in death camps and killed . You live your country to find work abandon your role as protector and you think it is still magically gonna be there when you come back .If you had faith you would not have to go to other country for gold .God would help you there in your own pueblo .so you lack faith in your situation and leave .the drug dealers ruin your people along with the governments evil hand .instead of working you should of been fighting .you need to overthrow your government ,kill off the the drug trade hang all the screwed up government move away from the border leave a 500 hundred mile army base that will stop people running running out of your country for guns or drugs .Stop nafta .stop wanting to live like an evil gringo and maybe you turn back the way god made you.the reason you governments do not stop this war is because it's not a war for them but away to play with the minds of the people .they love the blood and beheading ,they laugh at you and your children . they principalities of Satan you think your a bad ass with a gun funking punks remember when you were all in white clothing and could even own a gun .You did not want to even fight for Pancho via and when they killed him you elect the party that killed him . Mexican people will always be known for worshiping to speak a language not there own and doing the cumbia killing their own people and their pachanga to hell .worshipping what a devil of death ,funking wetbacks in the occult .whats next tacos De Verga oh some of you do that all ready ,why do you think they find bodies with there private parts cut off you fuckin satanic worshiping people are eating them .

Anonymous said...

every one bought or sold gold and soon the new bit money (computer money software will be in play ) the the dollar gold and the peso are going down .this is ware they say in the bible one loaf of bread will be worth The actual verse is Revelation 6:6 "Then I heard what sounded like a voice among the four living creatures, saying, "A quart of wheat for a day's wages, and three quarts of barley for a day's wages, and do not damage the oil and the wine!" oil and wine will be for the wealthy .but meth will still be cheap to keep you tweekers happy .they donot need to kill you .your already in and going to hell. well if this is not true then lets here a fairy tale that will save mexico .oh oi know chupa sangres or bigfoot will save the day.or you drug runners will win your freedom yeah right . stop being so mean to your own people if you can you fuckin dogs .vote for me president and be my army and i will give you what you ask for.Mexico has ruler who will come out and clean up the country maybe he is a rich drug dealer .but when you sell your soul to the devil only god can help you .i sorry if i am a little piss but i love you you are my people.Mexico they are getting ready to invade you .please do not be surprise when it happens .i think with the next election Mexico will be invaded by us and china and European union and sold off ,you will be proud in the future of speaking chine's next as you were so found of Spanish .reach out to your Indian pass and heel your self .

Anonymous said...

It is no longer a question of whether Wall Street and the rest of the international finance system is corrupt. The question now is merely a matter of degree: how repellently abhorrent, how pervasively criminal are the too-big-to-fail bankers?

The world got a hint of the depth and breadth of big banking's crooked values when HSBC, Europe's largest bank, admitted that its North American division laundered Mexican drug money, did business with Middle Eastern banks with terrorist ties, and circumvented US sanctions against Iran.

And how did HSBC explain itself? With weasel words: "We will acknowledge that, in the past, we have sometimes failed to meet the standards that regulators and customers expect." Translation: "Oops, our bad."

Does anyone with their wits about them think that HSBC is an isolated case? If they do, they must be either registered Republicans or fundamentalist nut jobs who believe that regulation is the work of the devil.

Regulators may not be Satan's spawn, but they are a pathetically ineffective lot. Not only did they fail to prevent the subprime mortgage bubble that crashed the economy, many were active participants in the folly.

It should surprise no one that the US senators investigating HSBC found that regulators were on to at least some of HSBC's shenanigans years ago.

The problem is that each time HSBC was called on the carpet or sanctioned, the bank promised to mend it ways — and then proceeded with business as usual.

Read more: http://thephoenix.com/boston/news/141618-banks-suck/#ixzz2oAxOBN2m

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