20.11.2016

Jonathan Sugarman - a "financial whistleblower"

Jonathan Sugarman worked in the position of risk manager at the Italian UniCredito Bank's branch in Dublin, Ireland (most recently dubbed the "Panama on the Liffey", and one of the major global centres of financial crime). "Due to liquidity breaches", he resigned in 2007, a year before "all Irish banks ran dry", and before the financial crisis fully "broke out". He hasn't been able to find work again since.

Last Tuesday, at a hearing at the European Parliament, on the initiative of the GUE/NGL (European United Left/Nordic Green Left) fraction, he disclosed the collusion of some state Central Banks and financial regulators (in this case the regulators and central banks of Ireland and Italy) as well as members of the Irish government at the time or of later governments (ministers Richard Bruton, Fine Gael, the, now late, Brian Lenihan, Fianna Fail, and Joan Burton, Labour) with private banks in the "white collar", i.e. financial, crimes that so far have been almost completely ignored, let alone investigated or prosecuted, by the authorities of said countries - or any other countries, for that matter. In this case, they are the Italian UniCredito, the German Depfa (Deutsche Pfandbriefbank) and, most notoriously and in the mean time nationalised, the Anglo Irish Bank,  Watch the video (from youtube, below):






"(...) [B]anksters come in all shapes, colours and nationalities. (...) My crime (...) was to comply with Irish law. I walked down to the regulator's office, the Central Bank of Ireland, and said: 'I am breaking the law. I am signing for billions that do not exist.' (...) I have not been able to work for nine years. (...) There is a law, there is a discussion. But there is nothing being done, absolutely nothing in practical terms. (...) Why do people not know [about the criminal activities of certain banks in Ireland and elsewhere]? Because they get threatened, like I did. (...) It tells quite a lot that (...) my first TV interview was for (...) Australian StateTelevision [i.e. no European media covered it!]. The Central Bank of Ireland refused to go on record. (...) The chairman of my bank of Ireland, after (...) a breach of billions, was appointed director of the Central Bank of Ireland [!]. (...) So how much truth are we going to have? The citizens of Ireland have been going through unbelievable austerity for bailing out a bank called Anglo Irish Bank. Most people in Ireland never had anything to do with Anglo-Irish Bank, in the same way as most people in Ireland, and probably Germany, had never heard of Deutsche Pfandbriefbank [Depfa]. (...) It was 'Mickey Mouse banking'. (...) There were no questions asked. (...) The governor of Banca d'Italia [the CentralBank of Italy] at that time was a Mr. Mario Draghi. I'm sure Mr. Draghi can be found and asked. (...) There is no point in making new laws if the ones that exist are not enforced." [all emphasis added by us, PB]

Our prediction is: Mario Draghi, the current President of the European Central Bank, won't be "available for any questions or interviews on the matter". Unfortunately, Sugarman's account will most likely not be covered by any mainstream news, at least not at a prime-time hour, as the main news are currently focusing on Donald Trump's transition in the US, and, most recently, on Angela Merkel's announcement of seeking another term as chancellor in Germany. 




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