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Big Bank 'Crime of the Century' Results in Guess What? No Jail Time for Anyone


#1

Big Bank 'Crime of the Century' Results in Guess What? No Jail Time for Anyone

Deirdre Fulton, staff writer

While corporate watchdogs hailed the record $2.5 billion settlement paid by Deutsche Bank to U.S. and U.K. authorities for its rate-rigging role in the massive LIBOR scandal, some noted that the fine—while large—suggests that some institutions are still considered "too big to jail."


#2

If anyone remembers the Project for a New American Century (PNAC), It lays out a plan for total world domination through military and financial control.
* We are seeing the military end of this as the US seeks Full Spectrum Domination of the planet. It is proceeding according to plan, though it is running a few wars behind in the timetable.
* We are seeing the other half of this as we watch the skillful and profitable maneuvering of the international banking cartels.
* A big fine may seem like punishment to us "small potatoes," but it is hardly more than the cost of doing business to the cartels.
* How many times have you watched a "big" fine or judgement be laid on these companies, only to be whittled down through endless appeals until it amounts to no more than peanut shells. They remove the peanuts before the payment.
* At an EXXON board meeting, discussing the EXXON Valdez spill, one of the top executives said, "We can string this thing out until the principals have all died and we won't have to pay anything."
* Compassion? Concern? Naah, only profits.


#3

"Further, the process of transformation, even if it brings revolutionary change, is likely to be a long one, absent some catastrophic and catalyzing event – like a new Pearl Harbor".


#4

It's so obvious that only a decade of aggressively deceptive media could make anyone think otherwise. Gee, all these things that are going on--bankster fraud, global capitalist wage enslavement, austerity, selective approval of nuclear weapons by certain countries, and wars everywhere especially in the Middle East and on Russia's border--these things are all isolated incidents! Rachel Maddow told me!


#5

Right! New Pearl Harbor, where have I read that before?
;-})


#11

Yes, more than 1,000 bankers were jailed for their roles in the 1980s savings and loan scandal, a scandal that negatively impacted several thousand Americans.

After three decades of decriminalization of financial fraud (the media calls it deregulation) no banker has even been indicted for roles in LIBOR, 2008 meltdown, and other series of events that continue to negatively impact billions of people in every nation on earth. Financial fraud was illegal while whistle blowing and other activities essential to a functioning democracy were legal during the 80s. Today its just the opposite.


#13

The GAO estimated the 2008 financial crisis cost the US economy over $22 trillion, which is a really big number to wrap your mind around. That's the equivalent of $22,000 billion dollars. The $2.5 billion fine amounts to one tenth of one percent of our collective loss, of which this scandal is part, and doesn't include the $777 billion disappeared in Great Britain. The only mitigating factor is that Deutsche Bank didn't act alone, they were part of an exclusive cartel with very limited membership. Nonetheless, they will scratch this one off as the cost of doing shady business. There's no restitution or justice for the people who bore the brunt of their crimes and excesses. The Democratic and Republican Parties have stripped ordinary folks of financial protections and let loose the hellhounds of hoard. Resist your impulse to vote for them.


#14

One of the things I've noticed, and often written about is the fact that a lot of this stuff was going on in the twentieth century, but then it was mostly undercover. Bribes passed under the table, private lunches in obscure bistros, etc.
* Now it is in your face, out in the open, fuck you! The 0.001% has bought the government, all three branches, they've bought most of the state governments, and they no longer give a damn. They now own it and they flaunt it. Apparently there is little or nothing we can do.
* If we pool our resources to elect a worthwhile candidate and raise a few thousand dollars, the 0.001% can reach in their pockets and pull out however many millions they need to defeat or buy the candidate.
* We need regime change and we need it desperately. Regime change does not mean exchanging the 0.001%'s left hand sock puppet for the right hand sock puppet. It means cleaning house and getting rid of the whole drawer of sock puppets. And then get rid of the puppeteers.
* I'd like to see it done peacefully, but done it must be, or our current serfdom will just increase.
;-})


#18

If they really wanted the banksters to stop fleecing the people, jail time for the perpetrators would do the trick. I'm tired of these crooks hiding behind their corprorate status.


#19

And the transformation happens by what each and everyone one of us do in our everyday lives. It doesn't happen with people standing on the sidelines, watching and waiting for others.


#20

What a JOKE ! Tax write off, no penalty for the guilty, instead,big bonus and maybe some stock.
same old, same old, green light for more of the same, they win/profit again, we lose, AGAIN !


#21

Change what you can. Don't worry about the rest.

I think this about sums it up. Unfortunately I have come to an outlook very similar to yours regarding Jacque Fresco's "this shit has got to go" idea - it's simply too late. We're so far behind the curve with reagrds to getting an enlightened and empowered populace, it's not even funny. But the fact is that getting depressed or focusing on our certain doom is not helping anyone, least of all yourself. You have to contend with doing good things simply because they're good, not because you can change anything beyond your own personal reach. Because you can't


#22

It was no easy feat to rein in the Robber Barons. Those corporatists used tools of propaganda and racism to divide the people too, and the state supported the use of violence to quell legitimate protest. The people rose up because they had endured years of oppression. Beatings, death, imprisonment were carried out with impunity, but it was a better alternative than more years of oppression. So the people did what they had to do for future generations.

We've come full circle. Propaganda is at an all time high as our mainstream media becomes a tool of the state. Back then there were thousands of independent newspapers who told the stories of oppression and helped to organize and unite the people. Today we have the Internet and social network connecting us. Overcoming corporate rule is not a choice, it's a necessity. Thankfully there were plenty of people willing to fight for democracy and real freedom back then. And it's beginning to look like there are plenty of people willing to do the same today.

Regime change may not be the proper characterization, but the assumption is correct. The real political battle is for the heart and soul of this nation, and I believe that we are up to the challenge. To sit by and accept defeat is an act of cowardship.


#23

I was talking to the representative of my representative yesterday and my last comment to her was that i felt the government was the best that corporate money could buy , and I thought that sucked ... she laughed then hung up


#26

Oh right.
i totally forgot.
Voting and the stuff of democarcy.


#29

I worked in computer divisions of big banks from the mid-1960s to 1990. The standard joke within all banks: you can never trust a banker - wink, wink, nudge, nudge. So, we have continued to reward criminal behavior.

The only way to stop the banksters is to put them in jail. Period.


#30

Right on! That is why I said regime change doesn't mean voting for a different sock puppet. It means cleaning out the entire drawer of sock puppets and getting rid of the puppeteers.
* It would be nice to find a way to do it peacefully and legally, but to survive, it must be done!
;-})


#31

In this country the banks were given everything under W Bush, before that the repeal of Glass Steagall. If it weren't for the fact that Democrats are such mice these days when it comes to big finance, solutions are simple. Put Glass Steagall back on the books. A bank holiday like FDR threw would be wonderful-no business as usual. Of course now days we just can't do anything construed as radical. But that's all that's going to save us. What it will be instead is a bean counter society, led by some pretty sociopathic counters.


#32

Larry Summers, the Clinton economist is pushing hard for "negative interest". That means that we will have to pay them, say, ten percent a year of our checking accounts for the privilege of using the banks, since they have once again, gambled all the bailouts away and are floating on fictitious hedge funds. This is already happening in some places in Europe. Greece, I've read, experienced a flight of savings to Switzerland because of negative interest. A law was passed confiscating those accounts of Greek citizens. If you use local banks in Greece, you pay negative interest.

Crazy world. Banksters can and will do anything without consequences.


#33

So very true, it is exactly "in your face". Clinton might have been more subtle with his chicanery but the village idiot flouted the law and bragged . Not one so-called journalist ever followed up on questions to the twerp. AIPAC , whose minions control the media long ago bought the congress.