The Phaserl


The Government Makes it Very Lucrative Not to Work

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1 comment to The Government Makes it Very Lucrative Not to Work

  • rich

    and steal…………..

    New Bank Investigations: Real Action, or More of the Same?

    By Matt Taibbi
    POSTED: August 8, 11:30 AM ET

    The government may very well decide to go after Chase in what it considers a big way. It may do the same for Bank of America, and then it may keep going on down the line to other banks, until it has collected a billion dollars or so from all the usual suspects, who were virtually all engaged in the same kinds of schemes, gathering and selling to customers radioactive mortgage bonds they knew were likely to explode, or were ridden with fraud and faulty underwriting.

    But to me, these investigations will be meaningless unless one of two things happens, once they reach the inevitable stage of concluding painstakingly-crafted settlements with the inevitable teams of high-priced lawyers for the offending firms:

    1) Someone goes to jail.

    2) The company is ordered to break itself up into smaller pieces.

    As to point one, here’s the thing. If criminal laws were violated, then the government certainly has discretion to exercise mercy and seek non-criminal sanctions against the individuals responsible. But they can really only do that and not be total hypocrites if they also simultaneously implement leniency programs for ordinary street criminals at the same time.

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