interestrateripoff Posted May 14, 2015 Share Posted May 14, 2015 5 Big Banks Expected to Plead Guilty to Felony Charges, but Punishments May Be TemperedAs 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..... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted May 14, 2015 Share Posted May 14, 2015 the fines are paid by the customers effectively. How stupid are we all? Quote Link to comment Share on other sites More sharing options...
Squeeky Posted May 14, 2015 Share Posted May 14, 2015 Move your business to another bank, if you feel they are passing the costs of the fines on to you. Quote Link to comment Share on other sites More sharing options...
billybong Posted May 14, 2015 Share Posted May 14, 2015 http:// www.thefreedictionary.com/felony Quote Link to comment Share on other sites More sharing options...
anonguest Posted May 14, 2015 Share Posted May 14, 2015 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. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted May 15, 2015 Author Share Posted May 15, 2015 Wall Street Demands Exemption From Punishment In Exchange For Guilty Pleas In FX Rigging "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!!! Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted May 15, 2015 Share Posted May 15, 2015 They're as thick as thieves. Quote Link to comment Share on other sites More sharing options...
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