(Reuters) - Credit Suisse has agreed to pay a $2.5 billion fine to authorities in the United States for helping Americans evade taxes after becoming the largest bank in 20 years to plead guilty to a U.S. criminal charge.Chump change for them. They can shake more than that out of their sofas in Geneva. The DOJ didn't force the bank to hand over its client list. The DOJ didn't have their banking license revoked. Nobody lost their job. Nobody went to jail.
In other words, the DOJ showed up and said, in essence: "Nice little banking operation yo have here. It'd be a shame if something happened to it."
You can tell how hard the bank was hit by this, because the article mentioned that their stock price went up.
After the S&L crisis, Reagan's DOJ got convictions and sent people to jail. Obama's DOJ just extorts money. Ol' Barry's lesson to the banksters is "if you steal, we'll make you pay a bullshit fine."
But it's just another day in the American Oligarchy.
2 comments:
Yep, it's no longer about the enforcement of LAWS it's about how much money one can get NOT to enforce... sigh
$2.5 billion. Do you want that in dollars or a hard currency?
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