Thursday, March 07, 2013

Yup. The Big Banks Are More Equal!

Interesting item here:

...Many are still angry about the 2008 bank bailouts, and they now have an on-the-record confirmation from Justice's top official that the department is treating big banks softly just because they are large. Compare it to how law enforcement typically treats American citizens when they break the law — often times by throwing the book at them — and it's easy to understand how that anger could grow into more popular support for a big bank breakup....

(That would include Citi, WellsFargo, USBank, and a few others--like AnchorBank of Madistan.)

Now where did that essay appear?

The American Banker magazine.

What does that "soft treatment" really mean?

...Congressional investigators estimate that the big US banks launder about $250 billion in drug money every year in addition to their $12 billion in estimated annual mortgage fraud.  When caught, they occasionally pay a monetary penalty.

...and you pay what, exactly, for a parking-meter violation....?

HT:  Vox

1 comment:

Jim said...

Check out Senator Warren at the Senate Banking Committee hearings.