The Capone Moment: Could Libor Fracture the International Banking Cartel?

[eridani]

http://www.nationofchange.org/capone-moment-could-libor-fracture-international-banking-cartel-1369315868

The connections and complicity evident in the LIBOR rate-rigging scandal – especially on the part of regulators – are a weak point for the global banking cartel, which connects a broad network of financial institutions that until now have been discussed as "too big to jail." But a brief look at the way Al Capone’s crime network was toppled by tax evasion in the 1930s reveals similar, delicate threads that could quickly unravel the current criminal banking regime.

Through male-dominated hierarchical structures, the gangsters in Capone's time rose to dominance through a ruthless pursuit of profits at any price. The crimes were right in people’s faces, but they got away with them. Controlling markets as rackets, they co-opted and intimidated authorities. They made enormous riches through organized violence, money laundering and fear-based domination. With an air of invincibility, it seemed at the time that Capone's empire would grow and last forever. Authorities knew he was a criminal overlord who ordered murders, yet none of the charges stuck — until finally he was brought to justice, not for violence, but for tax evasion.

[snot]

1. K&R'd!