"Adding another entry to Wall Street’s growing rap sheet, five big banks have agreed to pay more than $5 billion and plead guilty to multiple crimes related to manipulating foreign currencies and interest rates, federal and state authorities announced on Wednesday."
I sometimes wonder if this is a stick-up game where the revenuers take excessive fines as a form of taxation.
And not on point, its funny how the Federal Reserve is controlled effectively by banks and their main function is interest rate setting.
Or maybe Dodd-Frank failed by hastening the consolidation and growth of big banks.
Criminal collusion in the market is criminal collusion though. It should be punished.
http://www.nytimes.com/2015/05/21/b...cases.html?emc=edit_na_20150520&nlid=59050952
I sometimes wonder if this is a stick-up game where the revenuers take excessive fines as a form of taxation.
And not on point, its funny how the Federal Reserve is controlled effectively by banks and their main function is interest rate setting.
Or maybe Dodd-Frank failed by hastening the consolidation and growth of big banks.
Criminal collusion in the market is criminal collusion though. It should be punished.
http://www.nytimes.com/2015/05/21/b...cases.html?emc=edit_na_20150520&nlid=59050952
