Record fines for currency fixing

This is on the heels of the LIBOR manipulation, too.

It's sickening but entirely predictable.
 
I wonder how long things can last they way they are.

All this innovation that the world has seen the last 100 years has not benefited the world in an equal manner. The gap is widening further between the wealthy and everyone else.

When does it stop? How does it stop? Will it take something radical for it to change? Is it even possible to change it at this point?
 
BTW, I'm not shocked that literally no one went to jail. When you're too big you get a small slap on the wrist. 6 billion to these guys is nothing. It's not even a deterrent. The bad publicity is more their concern. Next time they'd probably pay more if it's kept under wraps.
 
Bad publicity? No one is going to change banks or refuse to join one of these banks because of crap like this.

It's wrong but it's life. All commodities do this kind of stuff
 
Banks should be shut down that are involved in this. I don't care if it's rogue employees. They are agents of the company. Until the penalties are serious against the wealthy nothing is ever going to change. We are going to continually be robbed blind.
 
Krgrecw said:
So if one of these banks offers you a nice accounting job would you turn it down?
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That has absolutely nothing to do with this. If you are not absolutely disgusted by what's happening today then I'm not sure what to say.
 
thethe said:
Banks should be shut down that are involved in this. I don't care if it's rogue employees. They are agents of the company. Until the penalties are serious against the wealthy nothing is ever going to change. We are going to continually be robbed blind.
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LOL, do you know what the ramifications would be if you shut down these banks?
 
thethe said:
That has absolutely nothing to do with this. If you are not absolutely disgusted by what's happening today then I'm not sure what to say.
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I am disgusted by this but do you not think the farmers, oil companies, all commodity driven markets have this happening?
 
gilesfan said:
LOL, do you know what the ramifications would be if you shut down these banks?
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Other banks would grow in their place aND everything would be right. Loans would be transferred and new jobs would open. There has to be ramifications for these actions.
 
Krgrecw said:
So you're really not upset about the crime your more upset because of who is behind it.
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This is not going to be a small group of average farmers. The farmers you speak of will also be ridiculously wealthy individuals and it makes it not better or worse than the bankers. Not sure what the occupation of the person matters. Its about wealthy people just robbing the rest of the world blind.
 
thethe said:
Other banks would grow in their place aND everything would be right. Loans would be transferred and new jobs would open. There has to be ramifications for these actions.
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Oh, I assumed you knew about banking.
 
No, it won't be easy and unfortunately not practical but these "penalties" are a joke. There needs to be accountability at the top for each of these organizations. If you could clean house at the top the control environments will be taken more seriously at these places as opposed to something just to satisfy SEC requirements.
 
thethe said:
Other banks would grow in their place aND everything would be right. Loans would be transferred and new jobs would open. There has to be ramifications for these actions.
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The free market doesn't operate in a world where short term consequences don't exist.
 
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