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How much are the promises of banks worth? Not very much, it seems. The NYT has found that during...

How much are the promises of banks worth? Not very much, it seems. The NYT has found that during the last 15 years, there have been 51 cases in whch the SEC concluded that Wall Street firms broke anti-fraud laws they had agreed never to breach. The violators include the usual suspects: C, GS, JPM and BAC.
Comments (5)
  • Since nobody ever goes to jail it will continue.

     

    Does not even take a Crony Capitalist, Talented Bankster, to figure that out.

     

    Just one of a hundred examples here;

     

    http://bit.ly/oOEpc2
    8 Nov 2011, 08:58 AM Reply Like
  • I think the answer is more regulation......

     

    which we don't enforce.

     

    Yup, that's the answer. Creates jobs too!
    8 Nov 2011, 09:11 AM Reply Like
  • Well, you have a revolving door mentality between enforcement and those regulated. Look at Madoff - One inside marriage and he was able to go right thru the radar without so much as an alarm bell.

     

    More regulation amounts to more loop holes, financial incest, and the staggering cost of meeting effectively useless regulation.
    8 Nov 2011, 09:49 AM Reply Like
  • After what we've seen from these thieves does any of this surprise anyone? If you're smart you'll do what I did and keep your cash safely converted to Flooz.
    9 Nov 2011, 10:55 AM Reply Like
  • We live in an oligarchy not unlike Russia.

     

    The large cap top management, wall street and congress live on a merry-go-round where they get to grab a few million on each revolution instead of the tin ring the rest of us get.
    9 Nov 2011, 12:22 PM Reply Like
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