Ex-Fed, Goldman Sachs employee avoids jail time for stealing secrets

[think]

Source: Market Watch

A former Federal Reserve Bank of New York employee who pleaded guilty to misappropriating central-bank documents received two years’ probation and had tried to cooperate with the government, the U.S. attorney’s office said.

A spokeswoman for U.S. Attorney Preet Bharara’s office in the Southern District of New York confirmed the former Fed employee, Rohit Bansal, was sentenced Tuesday to two years’ probation with the condition that he serve 300 hours of community service and pay a $5,000 fine.

In November, the Federal Reserve Board of Governors permanently barred Bansal, who left the Fed to work for Goldman Sachs Group Inc., from the banking industry after he pleaded guilty to obtaining Fed secrets. The Fed board said Bansal accepted being barred from the industry as part of a settlement agreement.

Prosecutors investigating the leak of confidential Fed materials in 2014 had accused Bansal of obtaining secret documents from a contact inside the New York Fed and using them to further his career.

Read more: http://www.marketwatch.com/story/ex-fed-goldman-sachs-employee-avoids-jail-time-for-stealing-secrets-2016-03-22

[AgerolanAmerican]

1. Two tier justice at its finest

A slap on the wrist like that sends the message "keep doing it". The fine was not a thousandth of the value of the information taken.


Meanwhile, elsewhere in America, here's a story from 2013 about a man spending life in prison for stealing a pair of socks:

http://www.rollingstone.com/politics/news/cruel-and-unusual-punishment-the-shame-of-three-strikes-laws-20130327

Note the VERY APROPOS subheadline.

[think]

2. It's a very sad situation now days....

[tazkcmo]

3. Two tier justice

This is the big thing about the Sec Clinton's email server. If the investigation results in an indictment, dollars to doughnuts it won't be Sec Clinton even though she was in total control, was the "leader" and and had final authority on all decisions. People will see this as another example of protecting the rich and powerful while sacrificing a lowling who will probably be compensated afterwards.

No indictment means the exact same thing! No accountability for the rich and powerful.

Either way, there is only a negative result.

Don't mean to hijack your thread or go off topic. Your "two tier" heading brought this situation to my mind immediately.

[AgerolanAmerican]

5. it's the same exact thing

Clinton gets off while whistleblowers get years of jail time for the exact same reason that these Fed employees got off while a poor black man gets a life sentence.

If she does not get indicted and does get nominated, our standard-bearer will be a living testament to the reality that the privileged class in this country is indeed above the law.

[tazkcmo]

7. Thank you.

Glad you understood why I posted what I did. It is the same thing. Even their kids receive a Never Need A Get Out Of Jail Free card ala the affluenza kid. It really sickens me. I'm afraid the only thing that can bring this country back to sanity is a severe disaster. Climate change is going to be that disaster but we may not survive it.

[think]

6. Apparently stealing secrets is really no big deal for a Goldman Sachs employee....

[tazkcmo]

8. SOP

Probably received a very nice separation package.

[mpcamb]

9. Find another charge and throw his worthless ass in jail!

"had tried to cooperate with the government".

Continued to draw paychecks working for a perp in the largest national scandal in decades.
Speak the TRUTH.

[think]

10. Not with politicians lining their pockets with Goldman Cash. Ain't going to happen.....