This is a syndicated repost courtesy of Money Morning – We Make Investing Profitable. To view original, click here.
Week after week, the news is filled with reports of law-breaking by institutions and individuals that hold positions of trust in society. Last week, FIFA, the body that rules the multi-billion dollar business of soccer, was hit by indictments of many of its senior officials who were charged with running a multi-year corruption scheme.
The week ended with former Speaker of the House of Representatives, Dennis Hastert – who for 8 years was the second in line to the presidency – being indicted for violating banking laws in connection with a scheme to pay hush money to a man with whom he had an illicit sexual relationship thirty years ago.
A week ago, several of the largest banks in the world agreed to pay $5.6 billion to settle charges that they manipulated foreign exchange rates. All of these institutions were serial offenders who had previously admitted to committing other serious financial crimes.
On top of it all, the U. S. presidential campaign is being conducted under the cloud of allegations that the presumptive Democratic nominee, Hillary Clinton, used her family’s charitable foundation to solicit huge donations from foreign businesses and countries. And there are serious questions emerging about her tenure as Secretary of State and her independence from foreign influence were she to enter the White House.
This post was published at Wall Street Examiner by Michael E. Lewitt ‘ May 31, 2015.