... and of course, No Jail Time!

[Wisecracker]

Washington Post
J.P. Morgan charged with rigging municipal bond deals
July 7

J.P. Morgan Securities rigged bids in at least 93 municipal bond deals in 31 states for eight years beginning in 1997, the Securities and Exchange Commission charged Thursday.

The government said the firm agreed to pay $228.2 million to settle charges by the SEC and other state and federal authorities, including the Justice Department, the Internal Revenue Service, the Office of the Comptroller of the Currency and the Federal Reserve Bank of New York....

Thursday’s settlement is “not expected to have any material impact on the firm’s earnings,” the bank said.

The case against J.P. Morgan was the third settlement in the SEC’s investigation of corruption in municipal bond reinvestment deals. Earlier settlements involved Bank of America Securities and UBS Financial Services.

And it's one-two-three
What are we fightin' for?

Don't ask me - I don't give a damn,
Way too many dumb fools to scam!

And it's five-six-seven,
Don't open up the jailhouse gates.

We'll just pay a big fine and
Won't do no time ...

Whoopeeeee!

The US is great!

 

[wanamingo]

So less oversight and tax breaks is the answer right?

 

[Wisecracker]

So less oversight and tax breaks is the answer right?

"You betcha!" says the party of 'personal responsibility'. Those dang cities and counties should have known they were paying local tax dollars to be screwed out of millions. Slackers!

 

[JAYDEEJOHN]

Its always the left who thinks things are too harsh
I say, as wc says, its time for some
http://www.youtube.com/watch?v=tpzV_0l5ILI
Maybe the death penalty? This ought to scare off most libs

 

[JAYDEEJOHN]

Aha, this may be true for some, but I have a sneaking suspicion that others "feel" that since some people have been "given" all the "good" stuff, and have it "easy", that simply because of all this, they should be prime examples of our strictess laws, whereas, those whove attempted to honorable "serve" the people, or those whove been raised in "conditions" seemingly unfit for "normal" people, should either go scott free, or the proverbial slap on the wrist
Whats soooo funny about this is values.
What upsets some people so much when its just about money?
Its all it is, money
Cuba and its great leader can be overlooked when hes held his whole country underprivlidged
Democrats never have money, dont know anyone with money, yet somehow find ways to take money from common folk thru union dues etc or have good buddies like GE, tho theyre not a nasty corpo, or George Soros etc etc etc
To them, its all about money, not a good value system to have...

 

[Gulli]

Oversight doesn't work when the overseers are also corrupt.

And why give jail time when you can just fleece them for hundreds of millions of $$$ instead?

It's not 1900 anymore. Corporations are run by a board of directors and a CEO these days, all of which are listed as employees, not owners, so none of them paid a dime of that fine because the law, in its infinite wisdom, does not consider CEO's and members of the board liable. These people live the good life: your daddy puts you through Harvard where you pay scholarship students to write your essays while you party, waiting for your business degree (which shouldn't even be a university degree because business is not a science), then one of your daddy's friends gets you on the board where you can set your own salary, give yourself a bonus when you feel like it, bill your private jet as an "expense" and when sh*t goes south because of your reckless gambling, the taxpayers and shareholders will pick up the pieces while you get a multi-million severance packet. Then you can retire before your 40th birthday and have all day to bitch about how taxes are crushing you, the honest hard working job creating machine. How dare those leeching motherf*ckers, who haven't even made their first million, take your hard "earned" cash away from you!

 

[Reynod]

This topic has been closed by Reynod