Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Five banks charged but as usual no criminal charges, how is that possible are these schemes self generating. Sweet setup for the currency cartel.
So where are all these bank CEO's like Jamie Dimon at Chase that are against regulation and understand the business they so well.
Quote:
Five major banks Wednesday agreed to plead guilty to criminal charges and pay
more than $5.5 billion in collective penalties to settle charges their traders
routinely manipulated the world's foreign-exchange market for their own
profit.
The Department of Justice, the Federal Reserve and other U.S. and European
authorities and regulators said corporate units of Citicorp(C), JPMorgan Chase (JPM), London-based Barclays(BCS) and Royal Bank of Scotland(RBS) acknowledged their traders rigged foreign
exchange prices of U.S. dollars and euros from Dec. 2007 to Jan. 2013.
If something done is so bad as to be punished to the tune of billions of dollars then someone needs to be in jail. Where does this fine money go ? Do the ones who were trading honestly at that time get compensation for their losses as a result of the rigged game ? I think not. The traders rig the game and steal money then the gov. steals it from them and the ones that were harmed as a result of this scam get the experience.
Who is really going to pay it? You and me in bank fees. Their shareholders (you and me again) in reduced dividends. The lot of them should be behind bars.
Who is really going to pay it? You and me in bank fees.
Lets follow this train of thought a little further..
Who ultimately ends up paying when the government forces businesses to pay higher taxes, or a higher minimum wage, or expensive regulations, such as forcing insurance companies to give away "free" birth control?
And guess where that $5.5 billion is going ? To the investors that got hurt by their actions ?
IMHO it's a small "payback" to the governments.
Think about it. Is anyone going to jail ? Is anyone getting punished ?
Small slap on the wrist, cough up some money and life goes back to BAU.
That money is going back to the Banksters that own the government.
It is all a public relations stunt.
How much money has been shoveled their way via QE, Bailouts and policies passed by their lobbyists
Big Finance would be a lot poorer if it were not for Big Government.
35 out of 40 Goldman Sachs lobbyists in 2013-2014 have previously held government jobs
53 out of 61 Citigroup Inc lobbyists in 2013-2014 have previously held government jobs
58 out of 69 JPMorgan Chase & Co lobbyists in 2013-2014 have previously held government jobs
20 out of 25 Morgan Stanley lobbyists in 2013-2014 have previously held government jobs
And guess where that $5.5 billion is going ? To the investors that got hurt by their actions ?
IMHO it's a small "payback" to the governments.
Think about it. Is anyone going to jail ? Is anyone getting punished ?
Small slap on the wrist, cough up some money and life goes back to BAU.
This is right. The entire QE-bail out-stimulus was nothing more than a huge scratch my back and I'll scratch yours. All of this damage done to billions and not a single person has ever been personally held accountable despite there being laws that call for that.
This is right. The entire QE-bail out-stimulus was nothing more than a huge scratch my back and I'll scratch yours. All of this damage done to billions and not a single person has ever been personally held accountable despite there being laws that call for that.
Rob a Bank and cause harm to a few people, go to jail.
Rob the nation and cause harm to millions and get a bail out and a bonus.
In before someone tries to pin the financial crisis on the average American https://represent.us/action/theproblem-4/
Study: Congress literally doesn’t care what you think
Rob a Bank and cause harm to a few people, go to jail.
Rob the nation and cause harm to millions and get a bail out and a bonus.
In before someone tries to pin the financial crisis on the average American https://represent.us/action/theproblem-4/
Study: Congress literally doesn’t care what you think
They work for the Banksters
This will all change when we elect a woman President.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
