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-   -   Forex Scandal (http://www.politicalchat.org/showthread.php?t=9125)

Rajoo 05-20-2015 12:08 PM
Forex Scandal
 
Five global banks to pay $5.7 billion in fines over rate rigging

Quote:
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.
Quote:
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. :mad:

http://www.reuters.com/article/2015/...0O51PY20150520

Pio1980 05-20-2015 12:10 PM
See how well self regulation works. I'm all for Liz Warren conducting a few perp walks down Wall St.

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Dondilion 05-20-2015 01:51 PM
The Banksters gonna find a way that public pay the fines. :D

Pio1980 05-20-2015 01:54 PM
Quote:
Originally Posted by Dondilion (Post 271522)
The Banksters gonna find a way that public pay the fines. :D
Of coures we do, BOHICA!

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Boreas 05-20-2015 02:06 PM
Quote:
Originally Posted by Dondilion (Post 271522)
The Banksters gonna find a way that public pay the fines. :D
They'll write it off their taxes as a business expense.

merrylander 05-20-2015 02:11 PM
What taxes?

Rajoo 05-21-2015 08:05 PM
Quote:
Originally Posted by merrylander (Post 271531)
What taxes?
It's called an accounting adjustment.

Ike Bana 05-23-2015 09:05 AM
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.

Pio1980 05-23-2015 09:25 AM
Quote:
Originally Posted by Ike Bana (Post 271917)
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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