Feds pretend to crack down, Wall Street pretends to care | Breakout - Yahoo Finance
It’s not a matter of the fines being unfair or insufficient. The
fines are pointless. JPMorgan shareholders aren’t being punished and no
one except Goldman’s Fabulous Fab is actually going to jail. The
question is one of justice and the public enabling an ongoing charade.
There is no justice happening when it comes to Wall Street. There is a
series of accusations, payouts and press conferences. If you think
that’s justice then you’re one of the enablers.
If the government has the goods it should either put top execs on the
stand or come up with some sort of RICO variant to bring against the
banks themselves. If no crimes are being committed, regulators should
move to more current matters. Either way it’s long past time to stop
conning the public with these absurd press conferences and headlines.
The point is to look like something is being done rather than the usual nothing or aiding & abetting.
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