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Morgan Stanley has agreed to pay $1.25 billion to the US government, and JPMorgan has been fined $614 million as a penalty for concealing the full risk associated with mortgage securities.
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A slap on the wrist and business as usual.
They put the world economy at risk.
Fines are irrelevant to JP Morgan. They have direct access to the US Treasury at zero  costs. Fines do not deter an organization like this. Arrests, trials, and judgment at trial are necessary. Seizing the assets of this organization is also necessary. Fines doled out all day are ineffective deterrence to JP Morgan committing fraud. Prison and asset seizure; that's the ticket. Time to punch these bankers ticket.
US Government does not seem to mind unleashing predatory lenders onto their citizens. It has been ~years~ of profits. I am sure they factored in the fines and lawsuits from the beginning. Shysters, frauds, incompetents and lowers are running the show. No wonder we are where we are.
What would you have to do before you are closed down?
Is this what was behind the rash of high level suicides in the world of finance?
I am amazed this old news went public. Usually, this type of truth is thoroughly buried so the rich banks can get away with it.
Google JP Morgan 1913 and Federal Reserve (which was voted in when over half of politicians were on holiday vacation).
Forget with the fines already and make with the jail sentences.
The only way to stop them is to put them someplace away from computers, phones and restaurants.
Chump change. They have destroyed the US economy forever......they ought to be tried for international fraud.....caused entire nations to go bankrupt. $1.8 billion? What a nasty joke on other nations and every decent individual who tried to play by the rules. They ought to be tried and executed in the world court for economic genocide.
Any of these crimes committed, usually result in punishment for any "common" citizen". Paying their way out just demonstrates the degree of corruption that rules this country. Pathetic and shameful.
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