Wednesday, May 20, 2015

Finally: Big Banks Plead Guilty To Criminally Rigging Markets For Profits, Fined $5.6 Billion |

$5.6billion is what? Maybe a week's worth of profits? We need to amend
the legal system so that the fine is dependent on the net worth and/or
income (actual income, not taxable!) of the offender. And some crimes
should be hit with penalties that wipe out the company. If nothing else,
it will make shareholders, which these days are primarily other big
financial companies (mutual funds, ETFs, hedge funds, etc) behave more
actively in overseeeing their investments. There's way too much go along
to get along among boards and share holders and management. If the JD
can make that investment worthless, then they might slightly more
invested (npi) in seeing to that their EMPLOYESS  (which is what
management is!!!!) don't break every fucking law in the books chasing
that one additional penny (or billions of pennies!!!) Wipe somebody out
and see the rest start to behave. It's what we do with normal citizens;
since, corporations are people too (thanks Supreme Court!) then we need
to treat them lick the repeat offending citizens that they are!
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