RE:Canadian banks are solidAbsolutely agree with you ecolo101.
Does anybody think that an organization the size of TD is somehow immuned to be infiltrated by a criminal organization. Some posters here are implying that this is inconceiveable as to how this could even happen. Well, criminal organizations have been infiltrating business institutions for melenia and some are so good at it they can operate under the radar for years. Criminals have infiltrated even the most stringently controlled organizations and with today's privacy laws that don't allow an employer to ask too many questions during the hiring process, is it any suprise? I retired from Law Enforcement after 42 years and if people only knew how prevalent this is they'd freak. I can tell you that the background checks done on a banking employee don't even hold a candle to a policing organization and yet criminals still manage to infiltrate Law Enforcement agencies and work in them for years before being detected.
And here's a twist for you....maybe the US Dept of Justice allowed this activity to continue for months so that they could identify and arrest ALL the suspects involved in the laundering scheme and maybe TD executives were even aware of this to aid in their investigation? It's kinda like the DEA doesn't arrest the corner pot dealer when they want the big fish. So before everybody gets their panties in a bunch, maybe we best wait to see how this all unfolds before we draw and quarter the TD Executives and all their staff. As was previously mentioned on this board, how does TD staff launder $683 million (actually I see now it was $653 million) without TD management being aware? Well, maybe it's because they were aware and working with the US Dept of Justice.
Doesn't it seem a bit strange that the US Dept of Justice investigation has apparently been ongoing for months now and the regulators have yet to impose their penalties? There's probably a bit more to this story than the public is aware of and for that matter may ever be aware of.
I prefer facts and until I see them, I'm reserving judgement on TD's direct involvement in this criminal activity and its apparent inability to prevent infiltration of organized crime.
HB77