Banks get monster fines for being bad; but not bad enough for a soul to get time

[VtaGeezer]

Obama...please explain how crimes that warrant $5.8 BILLION in fines don't warrant a single night in the slammer for any of the perps.  Oh...they were all "fired"!!  I bet they're all holed-up in the Hamptons hideouts, crying in their Abreau Cabernet, quaking in fear of indictments.  Yeah, I bet. 

And the moron Limbaghists keep insisting that Obama is a Marxist. When he signs the TPP, his underlings should hang a big "Mission Accomplished" banner behind him.
http://www.businessinsider.com/libor-rigging-criminal-charges-and-fines-2015-5

[Juan]

Obama is a Goldman-Sachs man

[VtaGeezer]

Obama is a Goldman-Sachs man

They're ALL Goldman Sachs men...and women. Compared to the financial-political complex, Eisenhower's military-industrial complex was small potatoes. We are so fucked. 

[Yorkshire pud]

Not so hasty; It's just been featured on the radio business news. There have been no prosecutions; Yet! So far only the regulators (In UK and USA) have fined the banks directly, staff have been fired...Now all it needs is their evidence (regulators) for the various prosecution authorities to press charges. People will go to prison I'm sure. There is also likely to be civil action for losses.

[Mind Flayer Monk]

Sounds like the government just wants its piece of the pie.
New strategy, let illicit practices go on and then the government takes that money for itself.

[VtaGeezer]

Not so hasty...

The crimes were done in '08.  I believe that the window for US criminal prosecution (statute of limitations) closed in '13. Just an inappropriate coincidence, I'm sure.  You can be certain that the individuals involved still have and won't lose one fucking penny of their profits/bonuses from the scam.  Until such fraud is made extremely painful to the people involved, aware, or in oversight of the dealings, bank ethics will continue to decline until its a euphemism. "Too big to fail" also means "too big to fear regulators".

[Yorkshire pud]

http://www.bbc.co.uk/news/business-32817114

[albrecht]

The crimes were done in '08.  I believe that the window for US criminal prosecution (statute of limitations) closed in '13. Just an inappropriate coincidence, I'm sure.  You can be certain that the individuals involved still have and won't lose one fucking penny of their profits/bonuses from the scam.  Until such fraud is made extremely painful to the people involved, aware, or in oversight of the dealings, bank ethics will continue to decline until its a euphemism. "Too big to fail" also means "too big to fear regulators".

The same thing happens when the banks are caught moving, and laundering, money for violent drug cartels, terrorists, despots, etc. They get caught and a small fine (relative to the money they make) sometimes they also cleverly use the tax-code to write off some of the fines. Ridiculous. People should be in prison. But one hand washes the other.

[MV/Liberace!]

"Too big to fail" also means "too big to fear regulators".

i wanted to puke the first time i heard the phrase "too big to fail" in association with justifying government bailouts.  no business should be allowed to become "too big to fail".  bankers talk a great game when expressing their opposition to government interference, yet they suddenly forget about their "capitalist" convictions when it's time to secure government assistance.

[VtaGeezer]

i wanted to puke the first time i heard the phrase "too big to fail" in association with justifying government bailouts.  no business should be allowed to become "too big to fail".  bankers talk a great game when expressing their opposition to government interference, yet they suddenly forget about their "capitalist" convictions when it's time to secure government assistance.

I'm not a conspiracy believer, but I think its clear to any who look that the banking cartel has played the Long Game to loot the PostWWII wealth of America and Western Europe since the '50s.  Its also pretty clear that Poppy Bush, the man with the magic resume, was their lockpick.  Watch "Hank" on Netflix; Paulson explaining the crash in detail.  But he, ex CEO of Goldman, was oblivious. Its an Oscar-deserving performance.

[Gd5150]

I'm not a conspiracy believer, but I think its clear to any who look that the banking cartel has played the Long Game to loot the PostWWII wealth of America and Western Europe since the '50s.  Its also pretty clear that Poppy Bush, the man with the magic resume, was their lockpick.  Watch "Hank" on Netflix; Paulson explaining the crash in detail.  But he, ex CEO of Goldman, was oblivious. Its an Oscar-deserving performance.

Yep Poppy Bush, it's all his fault. Amazing Obama and now Hillary are able to drum up 2 billion for a presidential campaign from average hard working joes. Lol!!! On top of the 2 billion in the Clinton bribe account that's supposed to be for charity.

People at the top are not going to jail, the CEOs of all corporations from big pharmaceutical to big unions to big oil big tech and banking are friends with DC. Where do you think the billions come from to see these idiot politicians speak? As though any of them have anything useful to say. And if they do go after anyone we can start with politicians like Al Sharpten for millions in tax evasion. Or Hillary for obstruction of justice with her emails. While we're at it, let's talk to our noble senators from California and find out how in 23 years they're combined wealth went from 50 million to 500 million, as senators. Damn that Bush family, it's all their fault, everything!

The entire senate should be thrown out, 6 year term limit, 1 term and you're out of politics for life including consulting. The people need representation by people from all sectors not just big lawyer, and big Ivy League University. People totally out of touch with every day life and challenges running the show are the reason the U.S. And world economies remain in the 7 year Obama recession.

[VtaGeezer]

Yep Poppy Bush, it's all his fault.
...

Follow the money, ace, and I don't mean to campaign coffers. $2B?? That's chump change to the puppet masters, like the fines on the bank corporations (NOT the bankers).  Sure Clinton will raise $2B.  You seem to think the GOP shill won't. 

[onan]

Follow the money, ace, and I don't mean to campaign coffers. $2B?? That's chump change to the puppet masters, like the fines on the bank corporations (NOT the bankers).  Sure Clinton will raise $2B.  You seem to think the GOP shill won't.

Say something about GW and the following is clammored: "That was so 7 years ago." But Clinton... well he, he, he got a blow job.

[VtaGeezer]

Say something about GW and the following is clammored: "That was so 7 years ago." But Clinton... well he, he, he got a blow job.

The Clintons are attention addicts who'll do what every it takes to sit in the center of the dais and get others to pick up the tab.   The Bushs, though, are different because their roots actually go deep into the international banking network. They all have a very superficial ideology because they have to play on one side or the other, and they'll just twist anything at hand to fit it. NONE of these people actually give a deep fuck about anything that won't move them up the power ladder.

[Juan]

I continue to recommend "Reckless Endangerment" written by a couple of NYT business reporters.  Everyone with any political clout was in on the scam.

[Quick Karl]

i wanted to puke the first time i heard the phrase "too big to fail" in association with justifying government bailouts.  no business should be allowed to become "too big to fail".  bankers talk a great game when expressing their opposition to government interference, yet they suddenly forget about their "capitalist" convictions when it's time to secure government assistance.

Extortion anyone?

[WhiteCrow]

i wanted to puke the first time i heard the phrase "too big to fail" in association with justifying government bailouts.  no business should be allowed to become "too big to fail".  bankers talk a great game when expressing their opposition to government interference, yet they suddenly forget about their "capitalist" convictions when it's time to secure government assistance.

For balance... There are a lot of clean Banks, that didn't participate in the TARP bailout. And now have to pay for the sins of the problem banks with much higher OCC and FDIC assessments.

Plus it's hard for the clean banks today to compete with the problem Banks.

The problem Banks are being regulated (forced) to improve their overall loan portfolio credit standards, to offset their old bad loans.
To attract new (good) loans, problem Banks now offer below market favorable terms. (low interest rates, longer amortizations and maturities)
To compete with the problem banks, the clean Banks also have to lower their loan interest rates (income), to levels that aren't high enough to maintain net income that is required to support safe capital ratios.

When interest rates eventually raise (they can only go up) bank income will get hammered again, because cost of funds (interest paid on deposits) will raise faster than Banks can increase interest rates on Loans.
More regulated Asset/Liability Management that was enacted to help problem Banks but eventually will do more harm that good for both problem and clean Banks.

The government through stupidity or design have come up with the perfect storm of new regulations, that will drive more of the once well managed 'clean' banks to failure.   
   

[Stellar]

Obama...please explain how crimes that warrant $5.8 BILLION in fines don't warrant a single night in the slammer for any of the perps.  Oh...they were all "fired"!!  I bet they're all holed-up in the Hamptons hideouts, crying in their Abreau Cabernet, quaking in fear of indictments.  Yeah, I bet. 

And the moron Limbaghists keep insisting that Obama is a Marxist. When he signs the TPP, his underlings should hang a big "Mission Accomplished" banner behind him.
http://www.businessinsider.com/libor-rigging-criminal-charges-and-fines-2015-5

That's because they are connected with U.S. congressman and the President of the United States.  Also the game is over.  The Elites are moving to Iceland and Norway or their own Islands.  Times are way down.  It's over for America finish your hot coco this book ends with alot of death.........

[WOTR]

Obama is a Goldman-Sachs man

Actually, he was a JP Morgan man... It was Jamie Diamon who was (at first) his friend.  And friends don't throw friends in jail  And they don't throw friends of their friends in jail... Nor even acquaintances of friends.

Come to think of it, you also don't want to upset your largest campaign contributors, or friends of your contributors, nor... Well,  think the point was made.

It was obvious after the mortgage scandals, the robo-signing, and the thousands of profitable crimes (I had meant to type prosecutable, but profitable works just as well)  that went unpunished that there is a two tier justice system.  One for those who pay fines, and one for those who don't have a billion for fines.

***Please don't get me wrong- he was a Goldman- man as well when they were contributing- but I seem to recall him referring to Diamon as a role model or hero...

[WOTR]

People will go to prison I'm sure. There is also likely to be civil action for losses.

I'm sorry- you mean like Madoff?  He ripped off a few investors and is in prison for fraud.  I don't recall a single prosecution after the banks crashed the economy and committed fraud.  Yes, a few fines (all paid by the banks) but the only people to go to prison were a few small time crooks.

I hope I am wrong- but if you think they are going to imprison corporate leaders you are far more optimistic and far less jaded than I.  I vote we revisit this in another year when nothing happens.

[pate]

Follow the money, ace...

The Clintons are...

I've no Dawg in this fist-fight, But Still...