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Banking reform bribery exposed in European Parliament
Kathaksung Show this Post
03-22-2011, 02:33 PM #1
Kathaksung Incognito Anonymous
 
On the front page of the Sunday Times this morning you will see the headline "Euro MPs exposed in "cash-for-laws" scandal" (£). Journalists from the respected Insight investigative team have posed as financial lobbyists and have approached MEPs offering them large sums of money in return for watering down banking reform legislation.

Three MEPs took the bait and were employed by the fake lobbying company on a yearly salary of €100,000. One of those was 56 year old former Romanian deputy prime minister, Adrian Severin, who apparently emailed the journalists posing as lobbyists writing “Just to let you know that the amendment desired by you has been tabled in due time”. He then sent an invoice for €12,000.

The other two MEPs caught up in the scandal was Slovenian foreign minister Zoran Thaler, and former Austrian interior minister Ernst Strasser. It is said that Ernst additionally boasted about serving at least five commercial clients who each paid him €100,000 per year.

These are pretty shocking revelations. But the most telling quote in the Sunday Times expose comes from Adrian Severin, “I didn’t do anything that was, let’s say, illegal or against any normal behaviour we have here”. As organisations that WDM works with like Spinwatch and Corporate Europe Observatory have long shown, dodgy lobbying by big corporations in this way is commonplace all over Europe, and the world.
But the bigger picture is even more alarming.

We all know the banks are in urgent need of reform. Unchecked speculation was responsible for causing the greatest economic crisis in several generations, throwing hundreds of thousands out of their jobs, and resulting in the current mass cut backs in vital public services across the world.

Now, as our report The Great Hunger Lottery has shown, the speculative activities of investment banks and hedge funds are also pushing up the price of food. With prices again rising we are at risk of seeing another food crisis, similar to that of 2007-2008 which pushed millions into deeper poverty.

WDM is campaigning hard for this speculation to be curbed, with proposals for regulation currently being discussed in the European Parliament. Today’s Sunday Times investigation is incredibly worrying as it once again demonstrates what we’re up against. The banks have some of the most well-funded and powerful lobbyists in the world and they are hard at work trying to stop any reforms to their speculative activities.

But don’t be fooled into thinking this is just a Brussels problem. London - at the heart of the banking industry - is home to some of the biggest and most influential financial lobby groups. In Brussels banking reform is currently high on the agenda, with MEPs recently supporting a Robin Hood tax, while in the UK the government seems intent on climbing into bed with the banks. Over here the lobbyists are winning.

We must continue to campaign and call on our political representatives to finally stand up to the banks for the good of the economy and for some of the poorest people in the world.

source: wdm.org.uk

This is big news buried by Japan and the Libyan distractions.
03-22-2011, 02:39 PM #2
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,822 Threads:1,430 Joined:Feb 2011
damned.gif Excellent find. This has been buried fairly well, I've heard Finnish politicians comment in private how deep the corruption runs in the EU, this says it all.
I did a bit of digging and found the following info relating to all this:

Quote:European Parliament member resigns over 'cash for laws' scandal

An Austrian member of the European Parliament has resigned after being exposed in a newspaper sting for taking £87,000 a year in a "cash for laws" scandal.

Ernst Strasser, a former Austrian interior minister, has stepped down after accepting money for successfully submitting legislative changes to EU banking regulations.

He was one of three MEPs who were willing to push through legal amendments on behalf of a firm of "lobbyists", Taylor Jones Public Affairs, a fake company set up by The Sunday Times.

Read it all at telegraph.co.uk

vic.gif Amazing how such a big scandal can fly nearly undetected under the radar. Really nice find, thanks K!

wonder.gif
03-22-2011, 03:57 PM #3
Octo Mother Superior
Posts:42,128 Threads:1,459 Joined:Feb 2011
It's outrageous! Lobbyists in the EU don't even have to register unless they want to 15.gif There's no oversight and god knows how much money changes hands to pay for our 'policies'

EUhaha.gif
03-22-2011, 04:17 PM #4
JayRodney ⓐⓛⓘⓔⓝ
Posts:30,822 Threads:1,430 Joined:Feb 2011
rumpyNOM.gif The big dog is eating again-

wonder.gif
03-23-2011, 03:53 AM #5
Accidental Stoner Member
Posts:8,449 Threads:70 Joined:Feb 2011
"I didn't do anything/.../against any normal behaviour we have here."

For once, I do believe he is telling the truth.


03-23-2011, 03:54 AM #6
Octo Mother Superior
Posts:42,128 Threads:1,459 Joined:Feb 2011
iagree.gif
03-23-2011, 03:28 PM #7
Accidental Stoner Member
Posts:8,449 Threads:70 Joined:Feb 2011
Geee...

Was hoping maybe our problem would kind of solve itself,
as the evolution of the mind continues and accelerates.
Like...let them have it.
We all know that €, material possessions or power-over-others
really don't make anyone any happier, so all their machinations
seem kinda...embarrassingly childish.

But right now I just don't know anymore...

Just maybe European dissidents from all over ought to form
the People's Liberation Army and drag the scum out of their
castles and simply liquidate them.
In spite of the obvious risks of infiltration etc etc.

What do you think?

HTF could anything but a non-bloody revolution really
break the age-old pattern?

gaah.gif

dunno.gif



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