"Such serious charges that are settled with fines and no admission of guilt despite overwhelming evidence of a criminal conspiracy, often initiated by the States, is a merely the cost of doing business when one is occasionally discovered in an ongoing confidence game. This global banking game robs billions from the public on a regular basis across a wide range of financial and commodity markets.
The fines are paid, a highly compensated individual takes the nominal 'punishment' while keeping the proceeds, the politicians and regulators are paid, and the fraud continues on.
Where is the reform? Where is the justice? Where is the deterrence?
Why not ban the institution who failed to control itself and its employees from participation in Federal Reserve banking subsidies and in government financial markets for some reasonable period of time?
Better yet, why are those who speculate in and manipulate the markets for their own gains with one hand, also taking cheap subsidy money from the government to 'improve the economy' and economic confidence with the other? Where is the repair of the public trust betrayed? Is this yet another fallacy of the efficient and perfectly rationale, self-regulating markets?..."
at http://jessescrossroadscafe.blogspot.com/2011/07/sec-charges-jpm-with-rigging-muni-bond.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+JessesCafeAmericain+%28Jesse%27s+Caf%C3%A9+Am%C3%A9ricain%29
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