Unbelievable: Big Bank Says It Is Being Suffocated By Regulations Just Like Eric Garner Was

Just when you thought Wall Street and the financial industry couldn't get any more arrogant or out of touch, Investec, an Anglo-South African bank, has outdone itself.


The Financial Times reports that Investec put out a research note seizing on Eric Garner's dying words—it is titled “I can't breathe—to complain about the regulatory environment for banks in the United States. Here's how the bank made the comparison:

They are both examples of abuse of power or authoritarian control gone wrong. Standard Chartered—a legitimate business—is being prevented from breathing or operating by US regulatory discriminatory behaviour. The parallel I see is unfettered power by a US agency.

Is this the most offensive thing the banking industry has said since Goldman Sachs's Lloyd Blankfein said he was doing “God's work?” 

Enjoy this piece?

… then let us make a small request. AlterNet’s journalists work tirelessly to counter the traditional corporate media narrative. We’re here seven days a week, 365 days a year. And we’re proud to say that we’ve been bringing you the real, unfiltered news for 20 years—longer than any other progressive news site on the Internet.

It’s through the generosity of our supporters that we’re able to share with you all the underreported news you need to know. Independent journalism is increasingly imperiled; ads alone can’t pay our bills. AlterNet counts on readers like you to support our coverage. Did you enjoy content from David Cay Johnston, Common Dreams, Raw Story and Robert Reich? Opinion from Salon and Jim Hightower? Analysis by The Conversation? Then join the hundreds of readers who have supported AlterNet this year.

Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure AlterNet remains independent long into the future. Support progressive journalism with a one-time contribution to AlterNet, or click here to become a subscriber. Thank you. Click here to donate by check.

Close
alternet logo

Tough Times

Demand honest news. Help support AlterNet and our mission to keep you informed during this crisis.