Working Life

It seems like…just a week ago that I wrote about a proposed slap-on-the-wristfor Standard & Poor’s. Ah, and it’s the gift that keeps on giving. But, this one may give a new twist to the absurd world in which these guys in the executive suites of Wall Street and the financial world commit crimes, never pay for those crimes, keep their jobs, continue to get huge pay and benefits, sock the shareholders/customers with the cost of paying miniscule fines…and never admit to the crimes.

Read the full story

One response to this might be “better late than never”. Actually, the spin on this story neglects to actually talk about the role S&P actually played in the financial crisis. But, apparently, the geniuses at S&P have now figured out what any normal person would understand: when a few people get all the marbles, not much is left for the others.

Read the full story

Yesterday, I posted a quick story about the lawsuit filed by NY Attorney General Eric Schneiderman against Barclays alleging. I’ve had a chance to read again and more carefully the complete complaint and there’s a bit more to say about the importance of this suit.

Read the full story

This won’t put any of the bankers in jail–a place some of them still belong–because its only a civil suit. But, glad to see this from New York State Attorney General Eric Schneiderman: he’s suing Barclays for fraud.

Read the full story

For a very long time, I’ve pointed out that the little fish get charged with crimes while the big fish get away. Drum roll please…we have another example in the House That Jamie Dimon Rules, JPMorgan Chase.

Read the full story

What else needs to happen before Jamie Dimon loses his job as CEO of JP Morgan Chase? Forget putting him in jail — I’ve given that up. But, when does the litany of lawsuit and criminal investigations add up to enough reasons to boot the guy? And so here is a new reason.

Read the full story

It would be a great day if just once — just once — the bankers who caused financial mayhem ended up in jail. That’s not going to happen in the latest charges leveled against Bank of America because the charges are civil, not criminal. But, for now, we can feel a smidgen of glee.

Read the full story

It is great that JP Morgan has been sued–and congrats to NY Attorney General Eric Schneiderman. But, we’ve seen this picture before: suits are filed and the executives who committed fraud or financial crimes or misconduct are NEVER–NEVER–held accountable. If we want real change–not phony, uplifting change–these people must go to jail. NO DEALS.

Read the full story

Hey, Bank of America shareholder, how does it feel to have the executives deceive investors (in other words, lie), escape any personal responsibility for the lies, cause huge losses and, then, stick YOU with a bill for over $2 BILLION? Well, probably not a great feeling but, screw you, you are just an investor, not a coddled, overpaid executive who just got handed a stay-out-of-jail card.

Read the full story

TasiniFollowSend Message RSS
Daily Kos member

My Diaries (list)
My Stream
My Groups
Following
Comments
Messages
Profile

Wed Aug 29, 2012 at 07:30 PM EDT
Banksters Get Off Again: Citibank Pays Off Crimes, Robert Rubin Skates

by Tasini

Same old story. The crimes of the financial crisis remain, for the most part, unpunished-except if you are a shareholder of a financial institution who is paying the price for the misdeeds and crimes of the greedy, overpaid executives who destroyed the lives of millions of people. Today’s example: Citibank.

Read the full story