posted on Dec, 19 2012 @ 05:03 AM
So we have had a lot of banks pay huge fines. Really teaching them a lesson
Link to article
UBS has agreed to pay a total 1.4 billion Swiss francs ($1.5 billion) to settle accusations that it tried to rig benchmark interest rates, the Swiss
banking giant said on Wednesday.
So where does it go? I did some digging and found that it doesn't go back to the people they screwed over but back to the banks.
link to article
“Under the previous government’s regime, fines paid to the FSA (Financial Services Authority) are used to reduce the annual levy other financial
institutions are asked to pay…We are considering ammendments to the Financial Services Bill that will ensure that fines of this nature go to paying
the taxpaying public, not the financial industry.”
It just makes me want to scream. What are these people doing? I mean our elected officials of course. While I sit here and know there isn't a damn
thing I can do about it. Very frustrating. Really, what can I or anyone do about it?
edit on 19-12-2012 by jlafleur02 because: correction in spelling