NewsWhore
08-30-2011, 04:00 PM
The latest series of cables between the United States Embassy in Santo Domingo and the State Department in Washington, D.C. focuses on the Dominican banking system and pension funds deposited in local banks. The Embassy advised the Department of State that locally hired employees should have their pension money deposited in dollars in United States pension funds rather than the pension funds handled by the Dominican banks. One of the main reasons for this recommendation was the fear that by using Dominican banks to hold the pension funds, the US Government would be open to civil suits if the banks failed and the pension money "disappeared." The scathing report can be read in Spanish and English on this site:
The WikiLeaks cables released by the SIN Group feature a very revealing look at the Baninter, Banco Mercantil and Bancredito failures that accounted for 20% of the nation's GDP. The report also looks at the weakness of the pension system, in addition to the banking system, as well as the tremendous influence of the banks in the legislature, the judiciary and even the executive branches of government. At one point the June 2005 report says that the "vice-president of the Supreme Court is known to take bribes." The report concludes by noting the role that USAID has taken to shore up the pension fund providers (AFP) though training and legislative suggestions as well as new courses for the members of the judiciary system.
www.noticiassin.com/2011/08/wikileaks-temor-de-ee-uu-por-recursos-en-fondos-de-pensiones-e-influencia-de-banqueros-en-el-congreso-la-justicia-y-el-gobierno (http://www.noticiassin.com/2011/08/wikileaks-temor-de-ee-uu-por-recursos-en-fondos-de-pensiones-e-influencia-de-banqueros-en-el-congreso-la-justicia-y-el-gobierno)
More... (http://www.dr1.com/index.html#7)
The WikiLeaks cables released by the SIN Group feature a very revealing look at the Baninter, Banco Mercantil and Bancredito failures that accounted for 20% of the nation's GDP. The report also looks at the weakness of the pension system, in addition to the banking system, as well as the tremendous influence of the banks in the legislature, the judiciary and even the executive branches of government. At one point the June 2005 report says that the "vice-president of the Supreme Court is known to take bribes." The report concludes by noting the role that USAID has taken to shore up the pension fund providers (AFP) though training and legislative suggestions as well as new courses for the members of the judiciary system.
www.noticiassin.com/2011/08/wikileaks-temor-de-ee-uu-por-recursos-en-fondos-de-pensiones-e-influencia-de-banqueros-en-el-congreso-la-justicia-y-el-gobierno (http://www.noticiassin.com/2011/08/wikileaks-temor-de-ee-uu-por-recursos-en-fondos-de-pensiones-e-influencia-de-banqueros-en-el-congreso-la-justicia-y-el-gobierno)
More... (http://www.dr1.com/index.html#7)