I have coined a new term. Deep Fraud. It is similar to deep ecology – “Human interference with or destruction of the natural world poses a threat therefore not only to humans but to all organisms constituting the natural order.” For human in the above sentence substitute banker/lawyer/accountant.
It is my belief that the fraud exposed on this site and covered up at the highest levels could be considered systemic in the establishment. If a plumber charges cash to avoid VAT he may be prosecuted by HMRC for fraud; we all understand that. But if a bank and by association its lawyers and accountants commit fraud the interference with or destruction of the natural world (business) poses a threat to all organisms (humans) constituting the natural order and it’s exposure must be prevented at all cost; in my case I believe with the collusion of the security service MI5. The head of MI5, Sir Jonathan Evans was made a non-executive director of HSBC last August on a salary of £150,000 pa for 40 days’ work.
After all, banks mis-sell; they manipulate Libor and Forex; what they do not do is commit fraud. I believe fraud is so systemic that it should now be termed ‘deep fraud’ to distinguish it from the everyday fraud we all understand.