5 Banks to Pay Billions and Plead Guilty in Currency and Interest Rate Cases

I've already said enough in the HSBC thread. But this is worth reading to understand more of what is going on. More importantly, read the article and the reactions from the banks - almost a shrug and "so what?"

NY Times link, May 20, 2015

Quote from NY Times article:

The banks also misled their clients about the price of currencies, the federal and state authorities said, imposing “hard mark-ups,” which one Barclays employee described as the “worst price I can put on this where the customers decision to trade with me or give me future business doesn’t change.” Or, to put their mission in the starkest of terms, the employee said: “If you ain’t cheating, you ain’t trying.”

I have deep vitriol for these bastards...put them in jail or the electric chair.
a reply to: WCmutant

a reply to: WCmutant

Nobody will receive jail time. This is just another pay the fine and laugh about it over dinner. You would think after the 2008 financial credit crisis, the government would start issuing jail time. Again, bankers and the elite are under a different code of justice than the average Joe on the street.

1. Have the bank steal your money by fraud.

2. See the government send fines to the fraudulent criminals.

3. See the criminals pay the fine with your stolen money to the government.

'Nuff Said!

Makes the old mattress look a lot more appealing, don't it?

If I include chump change from the couch and washing machine, I got better interest. Toss in the bottle return fund an I'm retiring! I like the security of the mattress too!

That sounds like a Jeff Foxworthy joke, I just might be a red neck!

a reply to: WCmutant

I don't support the death penalty for these people but they should be going to jail, and not just the CEO's but everyone involved. Just like we did to all the Nazi officers. Every single one of them down the line from the top to the bottom is guilty.

That said, if we don't put them in jail soon, people will start putting them to a rope.

Mortgage backed securities using peoples rent checks as collateral is what's going to do it. When people can't pay rent any longer and are seriously looking at becoming homeless they will not be rational.