No one went to jail…

6 big U.S., U.K. banks to pay $5.6B in fines in foreign currency probe

It pays to be a white-collar criminal.

  • Billy Bob Thornton

    The fines are a joke. These banks make a ton in profit so they can make back the fines in their tax returns. Most bank executives haven’t gone to jail in the mortgage backed securities crisis, the derivatives crisis and during any time around 2008. Even BCF bringing this up proves they are starting to get on the right page, but a lot of libertarians/conservatives fail to understand that it was the financial crisis which caused much of the problems and not socialism, unions or anything else. In capitalism, in a globalized world, a problem in one country spreads. So we have in essence trusted governments to do our bidding when it is clear they are selling us out. Which is why libertarianism especially after the financial crisis should be avoided at all costs. Regulations and protecting the average person is what has to happen. Don’t forget which person on RT has been speaking out the most on this. It is Max Keiser. The most laughable arguments are the ones blaming the victims saying they should have not bought the homes but that gives the big banks a free pass. When will libertarians understand regulations are necessary and these deregulation policies don’t work and never have?! That is letting the foxes guard the hen-houses.

    • No question, the game is rigged as never before. We have entered a new era of feudalism.

  • Norman_In_New_York

    Of course, the bankers aren’t going to jail. They didn’t collect any rainwater.

    • Frau Katze

      Rainwater collecting would have demanded much stricter sentencing.

  • Raymond Hietapakka
  • mauser 98

    …no guff
    former Goldman Sachs chief ,NJ Gov. John Corzine stole 1+billion$ , zero jail time now starting up new hedge fund

    How A Major U.S. Bank Laundered Billions In Mexican Drug Money
    Wacovia, Citibank JPMorgan etc. all in
    Read more:

  • Alain

    It may pay to be a white-collar criminal, but it certainly pays a whole lot more to be a white house criminal.

  • Everyone Else

    But … but … but… aren’t these banks publicly owned, so that most of the profit went to shareholders, which means – for instance – to pension funds. Sure the top banksters got bonuses, but they were piddling percentages of these currency trading ill-gotten gains.

    We get way more ripped off by credit card companies helping themselves to a fat commission on each purchase every time we buy something in a foreign currency.

    Canadians get even more ripped off by the so-called tax-free savings account, which is basically a scam for us to lend banks money for nothing so they get free money to play around with.

    You can’t beat the banks. It’s a terrible system but there’s none better.