Swiss Bank charged with felony, US Banks who tanked economy, not charged at all. (Congress, minimum wage)
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Swiss Bank Credit Suisse was charged with a felony by the US Attorney General for aiding wealthy Americans in shielding their fortunes from US taxes. US Banks like Goldman Sacs who were knowingly responsible for tanking the US economy and destroying millions of American's investments including money people were counting to retire on, not charged at all.
To be fair, the SEC did fine Goldman Sacs $550 Million, but Credit Suisse has to pay $2.68 billion. So I guess it's cheaper for banks to destroy American's investments and retirement accounts, but you better not help them avoid paying their taxes.
I'm not supporting hiding taxable income overseas, I am saying why weren't US banks and AIG prosecuted in the same manner?
Not surprising. Interesting timing. No specific names mentioned.
quote:
Under the terms of the deal with Mr. Lawsky, Credit Suisse must fire the employees.
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By coordinating their plans, prosecutors and regulators believe they have minimized the fallout from pleading guilty. The plea is expected to lead at most a handful of pension funds and other clients to cut ties to the bank.
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For one, the plea deal will not require the bank to turn over the names of its American account holders, a hot-button issue in Congress. Credit Suisse has argued that Swiss law prevented it from turning over the names.
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The notion that a criminal conviction could jeopardize the financial system stems from the experience of Arthur Andersen, Enron’s accounting firm. In the aftermath of a 2002 criminal conviction, Arthur Andersen went out of business.
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Parent companies remained elusive. Prosecutors obtained guilty pleas from companies in pharmaceuticals and other industries. But guilty pleas from financial firms have been rare.
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The federal money will flow to the Treasury, while the payment to Mr. Lawsky will enter New York state’s coffers. Mr. Lawsky also required Credit Suisse to keep a record of all its American transactions in the United States, a measure against Swiss secrecy.
The bank’s conduct came to light during an investigation by Senator Carl Levin, the Michigan Democrat who runs the Senate’s Permanent Subcommittee on Investigations. That investigation, which relied on 100,000 internal documents, culminated in February with a scathing report showing how the bank helped Americans hide their wealth through Swiss bank accounts.
As long as we allow gay marriage and slide the wage scale so minimum wage tells us we bring home more buying power...the banks in America can do whatever they want.
As long as we allow gay marriage and slide the wage scale so minimum wage tells us we bring home more buying power...the banks in America can do whatever they want.
This is being proven in real time.
Not sure what gay marriage has to do with banking malfeasance, but thanks for playing.
Not sure what gay marriage has to do with banking malfeasance, but thanks for playing.
You're not sure what politics has to do with it?
Maybe you don't feel that the media has helped us adopt a culture of apathy either.
The banks aren't held accountable for a reason. Our government isn't held accountable for a reason. Because they serve not only the banks special interest...but voting blocs special interests as well.
Almost every sensitized political issue right now is a distraction from the elephant in the room.
Maybe you don't feel that the media has helped us adopt a culture of apathy either.
The banks aren't held accountable for a reason. Our government isn't held accountable for a reason. Because they serve not only the banks special interest...but voting blocs special interests as well.
Almost every sensitized political issue right now is a distraction from the elephant in the room.
I know what politics has to do with it, and it is called money. Nothing to do with gay marriage, at least when it comes to penalizing banks and Wall Street. That is called corruption and thinly veiled bribery.
I can definitely understand the link between corruption and bureaucracy, but don't see the link between that and gay marriage. The AG's reluctance to go after American banks is pure political corruption at its most blatant. What, are gay people lobbying the government to give Goldman Sachs a pass?
I don't understand the point you are trying to make. It's not even comparing apples to oranges, it's comparing apples to V8 engines. There is no relevancy here.
Banks and other special interest groups own the politicians, that was my point.
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