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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMoyers: Prosecutors May Finally Go After Criminal Mega-Banks
. . .
Federal prosecutors are nearing criminal charges against some of the worlds biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades.
In doing so, prosecutors are confronting the popular belief that Wall Street institutions have grown so important to the economy that they cannot be charged. A lack of criminal prosecutions of banks and their leaders fueled a public outcry over the perception that Wall Street giants are too big to jail.
Addressing those concerns, prosecutors in Washington and New York have met with regulators about how to criminally punish banks without putting them out of business and damaging the economy, interviews with lawyers and records reviewed by The New York Times show.
The new strategy underpins the decision to seek guilty pleas in two of the most advanced investigations: one into Credit Suisse for offering tax shelters to Americans, and the other against Frances largest bank, BNP Paribas, over doing business with countries like Sudan that the United States has blacklisted. The approach applies to American banks, though those investigations are at an earlier stage.
Federal prosecutors are nearing criminal charges against some of the worlds biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades.
In doing so, prosecutors are confronting the popular belief that Wall Street institutions have grown so important to the economy that they cannot be charged. A lack of criminal prosecutions of banks and their leaders fueled a public outcry over the perception that Wall Street giants are too big to jail.
Addressing those concerns, prosecutors in Washington and New York have met with regulators about how to criminally punish banks without putting them out of business and damaging the economy, interviews with lawyers and records reviewed by The New York Times show.
The new strategy underpins the decision to seek guilty pleas in two of the most advanced investigations: one into Credit Suisse for offering tax shelters to Americans, and the other against Frances largest bank, BNP Paribas, over doing business with countries like Sudan that the United States has blacklisted. The approach applies to American banks, though those investigations are at an earlier stage.
THE REST:
http://billmoyers.com/2014/04/30/prosecutors-may-finally-go-after-criminal-mega-banks/
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Moyers: Prosecutors May Finally Go After Criminal Mega-Banks (Original Post)
Triana
Apr 2014
OP
Egnever
(21,506 posts)1. Finally does not seem like an appropriate word
The fact that they are nearly ready to file means they have been working on this for some time. So really they have been going after them for some time but are now finally ready to file.
Unless of course one believes you just file charges then build the case afterwords....
HooptieWagon
(17,064 posts)2. 6 years after crashing the economy...
...and they're still building a case against the US banks? Hell, the statue of limitations is almost up... and some of the guilty parties are working for the WH now.
Javaman
(62,517 posts)3. Let us all now comence with the collective holding of the breath. nt