Banks Are Now Pleading Guilty to Crimes. So Why Aren’t They Being Punished Like Criminals?

With the recent news of five Big Banks caught, yet again, committing major crimes we find ourselves asking, yet again, how is it no one is ever charged with a crime but only fined?

www.slate.com...

Not so long ago, federal prosecutors were simply terrified by the idea of what might happen if they ever brought criminal charges against a major bank. They worried that the consequences of a felony conviction might cause a large financial institution to collapse and wreak havoc on Wall Street, much as the accounting firm Arthur Andersen went bust after it was convicted for its role in the Enron scandal.

So the Department of Justice and the Securities and Exchange Commission landed on a compromise. When bankers got caught doing something illegal, the government asked them to pay a hefty fine and sign a "deferred prosecution agreement," in which they promised to mend their behavior forever more. The government lawyers got to trumpet billion-dollar penalties. The banks got to go back to their businesses without much long-term damage. For everyone else, it was pretty clear Wall Street had simply gotten "too big to jail."

So there ya go, too big to fail and too big to jail.

I'll tell you what bothers me. Normally we are held in such contempt that they don't even offer up a scapegoat.

a reply to: Swills

Sry buddy didnt you get the memo?

Ya, you see...the laws only apply to you common folks.

Soooo, I'm going to go ahead and need you, to get back to work and stop complaining peasent!
( in voice of the boss from office space)

Bastages!!!!!!!

The economy is already crap anyways, I say hang em all in town square every time it happens!!!!

originally posted by: Greathouse
I'll tell you what bothers me. Normally we are held in such contempt that they don't even offer up a scapegoat.

And that says a lot.

At least they used to pretend it mattered.

Banks Are Now Pleading Guilty to Crimes. So Why Aren’t They Being Punished Like Criminals?

I could give you a trillion reasons.

Isn't this why we said don't bail them out?

Exactly
they could care less if the dogs see them screwing. Its getting old, cant lead to anything civil.
a reply to: Greathouse

originally posted by: ketsuko
Isn't this why we said don't bail them out?

Lol when was the last time they listened to us about anything?

a reply to: Swills

Take 100 Billion, get fined 10 Billion.

I will take that deal!

Corporations are people, and people are equal, according to the Supreme Court, obviously some people are more equal than others.

a reply to: Swills
But if you sell "loosies" on the street for 50 cents you get strangled by the Police.

There is an election coming up folks. They can't make the money people broke and jailed. We gotta go get them welfare people who are bringing down the economy.

originally posted by: infolurker
a reply to: Swills

Take 100 Billion, get fined 10 Billion.

I will take that deal!

Interesting point there... aren't there laws about knowing profiting from crime being the same as committing that crime? Should that mean that enforcing a penalty on criminally acquired money for a purpose other than to return that money in full to the victim (and maybe pay legal costs) could be construed as "the bank didn't scam you... the bank AND the government scammed you."

the 10 billion was just the kickback for the gov't giving then free reign to rip off the 100 billion is all. they all win, so all is good...compliments of we the people of course!!!

someday maybe hopefully something will happen and they will all get what is due them....
anyone know where there's some cheap guillotines for sale, they may be needed in the near future.

a reply to: Swills

The banks, government officials, the rich, corporations, insurance giants, oil companies, etc... They all fall under a different justice system and set of rules than the rest of us. The U.S. is not a country "by the people and for the people," as many people still think.

money provides you an way out to stand above the law......

a reply to: Swills

So Why Aren’t They Being Punished Like Criminals?

Because these people own the money..and if you own the money you own the law.

These people pulling off massive banking frauds are not directly responsible because the bank itself is regarded as a person within the law. It is the bank who will pay fines when somebody has become a victim of its misconduct. No...such "incidents" are well taken care off.

That is how I understand the mystery of how bankers are avoiding procecution and jailtime.

originally posted by: Greathouse
I'll tell you what bothers me. Normally we are held in such contempt that they don't even offer up a scapegoat.

Exactly I was not even aware this parasites were even firing people.

Just paying the fines laughing

dp

originally posted by: ugmold
a reply to: Swills
But if you sell "loosies" on the street for 50 cents you get strangled by the Police.

Be he was just a "thug"

Don't be stupid. Different law applys