Posted on 05/14/2015 6:40:23 AM PDT by Theoria
For most people, pleading guilty to a felony means they will very likely land in prison, lose their job and forfeit their right to vote.
But when five of the world’s biggest banks plead guilty to an array of antitrust and fraud charges as soon as next week, life will go on, probably without much of a hiccup.
The Justice Department is preparing to announce that Barclays, JPMorgan Chase, Citigroup and the Royal Bank of Scotland will collectively pay several billion dollars and plead guilty to criminal antitrust violations for rigging the price of foreign currencies, according to people briefed on the matter who spoke on the condition of anonymity. Most if not all of the pleas are expected to come from the banks’ holding companies, the people said — a first for Wall Street giants that until now have had only subsidiaries or their biggest banking units plead guilty.
The Justice Department is also preparing to resolve accusations of foreign currency misconduct at UBS. As part of that deal, prosecutors are taking the rare step of tearing up a 2012 nonprosecution agreement with the bank over the manipulation of benchmark interest rates, the people said, citing the bank’s foreign currency misconduct as a violation of the earlier agreement. UBS A.G., the banking unit that signed the 2012 nonprosecution agreement, is expected to plead guilty to the earlier charges and pay a fine that could be as high as $500 million rather than go to trial, the people said.
The guilty pleas, scarlet letters affixed to banks of this size and significance, represent another prosecutorial milestone in a broader effort to crack down on financial misdeeds.
(Excerpt) Read more at nytimes.com ...
So, the government isn't punishing them so much as just taking its cut. First rule of organized crime, if you're going to profit from crime you have to kick up.
The bank didn't do it on it's own.
/johnny
Any and Every STATE can punish them for these ADMITTED FELONIES, by Revoking their Corporate Charter in their State. Put them OUT OF BUSINESS in your State as soon as the Guilty Plea Ink dries. Then Sieze ALL ASSETS at the State Level as PROFITS of a Criminal Enterprise.
Nobody Can stop the STATES from doing this.
.... so the government isn't punishing them so much as just taking its cut....
====================================================
GOV'T FRAUD AT ITS FINEST and Democratic votes to boot.
He exposed the Clinton Foundation frauds, but in his earlier book, "Extortion," author Peter Schweitzer writes about Obama and Eric Holder, using the Justice Dept and assorted govt agencies to extort Big Money ....threatening jailtime unless the targets fork over billions. Read on.
The Largest, Best Funded Voter Fraud Operation in US History Happening Before Your Eyes
Red Statements ^ | 3/12/2015 | Steven Ahle / FR Posted by HomerBohn
So you say you want a permanent democratic majority? But what about the massive amount of money that's needed?
Obama, and congressional democrats, along with a huge assist from Eric Holder add the shady ACORN into the mix by changing ACORN to "NeighborWorks America."
Both NeighborWorks America....and La Raza....provide the manpower.....and now have a huge funding source.
The DOJ has sued several banks and made settlements in which the banks have paid 24 billion in fines. One of the banks, CitiCorp was also ordered to pay $50 million to La Raza and NeighborWorks America as part of the settlement.
But wait, it doesn’t stop there. Another clause in the agreement makes it possible for La Raza and NeighborWorks America to rake in even larger amounts of money.
Of the remaining money the banks needed to pay in settlements, the banks were able to contribute additional money to La Raza and NeighborWorks America. For every dollar they contribute, it reduces their debt to the government by 2 dollars. That’s some mighty powerful incentive to give generously.
House Judiciary Committee Chairman Bob Goodlatte (R-Va.) and House Financial Services Chairman Jeb Hensarling have questioned why this money was sent to the two organizations rather than to the alleged victims of the bank’s crime. The administration of course declined to answer.
--SNIP--
So now, with Social Security cards, manpower and tons of money to go along with the two years before the next presidential election, the largest and most successful voter fraud campaign may alter the course of the elections not to mention the future of the United States.
Within the first couple of months of Obama’s illegal immigration executive memos he signed on AF One, at least ninety thousand Social Security cards were issued to illegal aliens. Now Senators Ben Sasse and Jeff Sessions want answers on how many additional social security cards were issued. The answer is important because it will allow citizens to know just how much money taxpayers are spending on illegal aliens.
Social Security cards are keys of the kingdom to illegal aliens. With them, they are able to access a number of all sorts of benefits, including the Earned Income Tax Credit, Social Security disability payments or Social Security’s supplemental income program.
The senators also want to know how much in benefits these illegals have collected. The senators have yet to connect the dots in Obama’s real scheme. Let me help them out.
Social Security cards besides making illegals eligible for benefits, can have a more profound problem for the United States. The cards make it very easy for illegals to register to vote, even in states with voter ID laws.
One of the documents accepted for registering to vote is………….Social Security cards. But administration officials don’t dare instruct the illegals on how to vote and many might not trust them. The Washinton Times explains how easy it would be to add millions of new voters through the democrat’s illegal amnesty.
So how do you get around this? Simple. You have the latino-centric America hating La Raza do it. Yes, La Raza actually teaches illegal immigrants where and how to register and vote. With the advent of so many illegals being able to vote and limited resources, La Raza couldn’t possibly handle the volume or afford to spend the kind of money necessary to facilitate such a huge undertaking.
They weren’t Pensky material.
All he wanted to do was be a banker.
The guilty pleas, scarlet letters affixed to banks of this size and significance, represent another prosecutorial milestone in a broader effort to crack down on financial misdeeds.
No this is isn't. It is pay-to-play.
“Too big to fail. Too rich to jail.”
Notice there’s no discussion of who will REALLY pay these fines. The shareholders. How come BoA got away?
Holder arranged a "settlement" with BoA that basically funneled the money to whatever ACORN is calling itself now.
The investment banks are the kingpins of organized crime, aided and abetted by the Federal Reserve.
Exactly. Corporations are wonderful, but they’re legal fictions. If it’s criminal, only a human could have done it.
It’s like medieval times when they put pigs on trial for the harm they ‘caused’.
How they gonna collect?
/johnny
Yup, thats why the go after the orgs and not the officers and execs.
Would LOVE for Cruz or Walker to promise to make RICO investigations of these things a priority, if elected.
Right. A jailed locust pays not bills.
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