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Old 05-20-2015, 12:08 PM
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Rajoo Rajoo is offline
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Forex Scandal

Five global banks to pay $5.7 billion in fines over rate rigging

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U.S. banks JPMorgan Chase and Citigroup will pay $550 million and $925 million in criminal fines, respectively, as part of their guilty pleas.

British banks Barclays Plc will pay $650 million in criminal penalties and Royal Bank of Scotland Plc $395 million. Each will plead guilty to one felony count of conspiring to fix prices and rig bids for U.S. dollars and euros in the foreign exchange spot market.
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A fifth bank, UBS AG, will plead guilty to rigging benchmark interest rates, the U.S. Justice Department said.
Guess TARP was not enough to fill their coffers. As usual looks like no imminent prosecution of the culprits either.

http://www.reuters.com/article/2015/...0O51PY20150520
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Old 05-20-2015, 12:10 PM
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Pio1980 Pio1980 is offline
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See how well self regulation works. I'm all for Liz Warren conducting a few perp walks down Wall St.

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Old 05-20-2015, 01:51 PM
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Dondilion Dondilion is offline
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The Banksters gonna find a way that public pay the fines.
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Old 05-20-2015, 01:54 PM
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Pio1980 Pio1980 is offline
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Originally Posted by Dondilion View Post
The Banksters gonna find a way that public pay the fines.
Of coures we do, BOHICA!

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Old 05-20-2015, 02:06 PM
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Boreas Boreas is offline
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The Banksters gonna find a way that public pay the fines.
They'll write it off their taxes as a business expense.
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Old 05-20-2015, 02:11 PM
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merrylander merrylander is offline
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What taxes?
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Old 05-21-2015, 08:05 PM
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What taxes?
It's called an accounting adjustment.
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Old 05-23-2015, 09:05 AM
Ike Bana Ike Bana is offline
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Am I the only one who blames Obama and Congressional Democrats for this shit? We expect Republicans to be blindly pro-business, including pro-banking business. It's a given. But the failure of Obama and the Congress to enact real reforms and regulations (Dodd/Frank is a sick joke), is on the hands of Democrats we elected because they promise over and over not to let the banking industry and corporatists get away with this.
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Old 05-23-2015, 09:25 AM
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Pio1980 Pio1980 is offline
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Am I the only one who blames Obama and Congressional Democrats for this shit? We expect Republicans to be blindly pro-business, including pro-banking business. It's a given. But the failure of Obama and the Congress to enact real reforms and regulations (Dodd/Frank is a sick joke), is on the hands of Democrats we elected because they promise over and over not to let the banking industry and corporatists get away with this.
The Golden Rule? Those with the gold get to rule, the rest get a golden shower from them. Tinkle down economics in action.

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