The bank crisis: Where are the prosecutions?

Our Future Blog
by Robert Borosage


Where are the prosecutions of bank officers for defrauding investors or the government?… What we want is self-enforcement. That can come from a strong sense of personal ethics…, [o]r it can come from a strong sense of fear — a sense that if you violate the law, you just might end up in jail. And that requires prosecutions and jail sentences. Fines don’t do it. The SEC just fined a Citibank employee $100,000 for helping to defraud investors by not foreclosing a staggering $50 billion in toxic subprime mortgages that were in Citi’s basement. That same official got a yearly paycheck of over $12 million. The fine was a rounding error on his bonus. That’s a joke...

Informant: Thomas L. Knapp


Banks Siding Against the Customer in Fraud Cases

By Naomi Wolf

I was stunned by what seemed from the emails to be a systemic practice. Why would a bank want to perpetuate bank fraud rather than fight it?

From Information Clearing House

Users Status

You are not logged in.

Recent Updates

Will Turkey Sever Ties...
Syrian President Bashar al-Assad says the current tension...
rudkla - 24. Sep, 10:49
Merkel macht Stuttgart...
BUND: „Die Baukosten schießen in die Höhe, die Bauplanung...
rudkla - 22. Sep, 05:25
War Is Murder /kwiatkowski/kwiatkowski25 6.html The...
rudkla - 21. Sep, 09:16
The surge in defense...
Independent Institute by Winslow T. Wheeler 09/18/10 Accordi ng...
rudkla - 21. Sep, 09:12
Amid flooding, CIA resumes...
MSNBC 08/23/10 After a little-noticed, weeks long...
rudkla - 21. Sep, 09:07




Online for 6674 days
Last update: 24. Sep, 10:49


Animal Protection - Tierschutz
Australia - Australien
Big Brother - NWO
Civil Rights - Buergerrechte - Politik
Cuts in Social Welfare - Sozialabbau
Disclaimer - Haftungsausschluss
Environment Protection - Umweltschutz
Forest - Wald
Genetic Engineering - Genmanipulation
Global Warming - Globale Erwaermung
Health - Gesundheit
Human Rights - Menschenrechte
... more
Subscribe Weblog