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Bankers To Get Away With It Again, Can't Be Punished

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5 Big Banks Expected to Plead Guilty to Felony Charges, but Punishments May Be Tempered
As much as prosecutors may want to punish the banks, which are accused of rigging the price of foreign currencies, they are mindful that too harsh a penalty could imperil the businesses.

Moral hazard?? If you do that again we'll fine you some of the profits and just let you carry on as before. Please don't do that again.....

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5 Big Banks Expected to Plead Guilty to Felony Charges, but Punishments May Be Tempered

Moral hazard?? If you do that again we'll fine you some of the profits and just let you carry on as before. Please don't do that again.....

"they are mindful that too harsh a penalty could imperil the businesses."

There's no need to fine the banks at all. Just ensure that those committing the crimes are deprived of their liberty and actually go to prison for a lengthy period and are prevented from ever working in finance again. I can assure you that the incidence of fraud and criminality will become as rare as unicorns.

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Wall Street Demands Exemption From Punishment In Exchange For Guilty Pleas In FX Rigging

GetOutOfJail.png

"Banks want assurances from U.S. regulators that they will not be barred from certain businesses before agreeing to plead guilty to criminal charges over the manipulation of foreign exchange rates, causing a delay in multibillion-dollar settlements," Reuters reports, reinforcing the idea that 'guilty' pleas from Wall Street on FX rigging will ultimately mean absolutely nothing because once the fine print is inserted into the settlements and once the SEC grants every bank's request for a waiver, it will back to business as usual.

Unbelievable!!!

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