"The charges will most likely focus on traders and their bosses rather than chief executives."

[kpete]

BREAKING: Wall Street Is a Sinkhole of Corruption and Fraud
—By Kevin Drum| Tue Oct. 7, 2014 1:26 AM EDT


The New York Times reports on the latest in Wall Street malfeasance:

With evidence mounting that a number of foreign and American banks colluded to alter the price of foreign currencies, the largest and least regulated financial market, prosecutors are aiming to file charges against at least one bank by the end of the year, according to interviews with lawyers briefed on the matter. Ultimately, several banks are expected to plead guilty.

....The charges will most likely focus on traders and their bosses rather than chief executives.

Ha ha ha. That goes without saying. Everyone knows that the CEOs of big banks know absolutely nothing about what's actually going on in their banks.

http://www.cnbc.com/id/102065404
http://www.motherjones.com/kevin-drum/2014/10/breaking-wall-street-sinkhole-corruption-and-fraud

[L0oniX]

1. ...and the derivative frauds go unpunished.

[bluesbassman]

2. Ah yes, "rogue traders". Must be gut wrenching for those poor CEOs.

Well at least they have their multi million dollar compensation packages to comfort them in their anguish.

[Trillo]

3. Responsibility is a one way street?

If the money is flowing and the news is good, CEOs take responsibility. If there's bad news, CEOs don't need to take responsibility?

Yet another "flaw", or "feature", of hierarchy.

[woo me with science]

4. Of course they will.

Oligarchy is bipartisan.

[woo me with science]

5. Kick for corruption.