Big banks funding illegal cluster bombs

US, European banks invest billions in cluster bombs: NGOs

US and European financial firms are still investing billions of dollars in cluster bomb producers despite a global ban on a weapon that maims and kills civilians, NGOs said Wednesday.

The US financial titans JP Morgan Chase and Goldman Sachs are joined by Royal Bank of Scotland, Germany's Deutsche Bank and China's Changjiang Securities in a "hall of shame" of investors in cluster munitions.

They are among 166 private and public financial institutions from 15 countries that have invested a total of $39 billion in eight cluster munition producers since May 2008, according to a report by two Dutch non-governmental organisations that are members of the Cluster Munition Coalition.

While most investors are from countries that have yet to sign up to the international convention that bans cluster munitions, including the United States, 38 firms are from nine states that joined the accord.

The nine countries -- Australia, Britain, Canada, France, Germany, Italy, Japan, Switzerland and the Netherlands -- have not passed legislation that bans investment in cluster bomb producers.

Truly disgusting. And of course no crackdown is going down... because you know those banks own the governments.

reply to post by Vitchilo


and all for Libya, Syria, Iran and future conflict with russia is that why they are funding illegal cluster bombs in such a hurry?

Man stories like these really make want to me puke