Discussion for article #222940
Wake me up when Holder actually jails one of our bankers.
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If there’s a list of systemically important banks that can’t be allowed to fail, then they are too big to fail. This is a large penalty, but I suspect Credit Suisse has made far more than 2.3 billion dollars from secret foreign accounts over the years. This is a big hit, but unless the penalty includes not allowing them to do business with US nationals or in US jurisdiction, it’s a cost of doing business. Not a fan of this settlement.
I agree with mwb1. I’ll remain unimpressed with this DOJ until it sufficiently investigates and prosecutes (at least one of) OUR bankers.
“This plea demonstrates that the Department of Justice and bank regulators are prepared to hold banks and their relevant employees accountable while being mindful of the impacts on depositors and the American public,” he said.
Guess things have really changed since the London whale,USBC, JP Morgan and HSBC money laundering cases…you wonder what took 'em so long
I’m glad Justice is going after the foreign banks helping American tax dodgers but how about going after U.S. banks still engaging in fraud!