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So why don't we see headlines like "EU clamps down on banking industry and corruption in financial institutions"?
by vdaniuk 11y ago
So why don't we see headlines like "EU clamps down on banking industry and corruption in financial institutions"?
- bduerst 11y agoBecause the E.U. already does and it's not news. http://www.transparencyinternational.eu/focus_areas/eu-financial-sector/ http://www.transparencyinternational.eu/focus_areas/eu-finan...
- vdaniuk 11y agoReally? Transparency International is not a government organization but a non-profit registered in Belgium. edit: HN posting limit is extremely annoying, providing no way for a sustained discussion within multiple threads.
- bduerst 11y ago...Who runs a websites containing a series of announcements and headlines about financial regulation in the E.U. Next you'll say those aren't true headlines, a la no-true-scotsman.
- vdaniuk 11y agoHow exactly the Transparency International website that contains public statements critical of E.U. financial regulation backs up your point?
- bduerst 11y agoBecause it's proof of E.U. financial regulation. What is your point?
- Dylan16807 11y agoThat regulation of some sort exists, not that it is effective or "clamping down"
- makomk 11y agoThe Transparency International website that you've linked does talk about financial regulation in the EU, but Transparency International's position is that the regulators have failed - that they have not, in fact, clamped down on fraud and corruption, and that close ties between regulators and the banks they're regulating have made them unwilling to act. You're using a web page criticising regulators for failing to take action as proof that they didn't fail to take action.
- bduerst 11y agoI was using it as proof that E.U. financial regulation (however shitty it may seem) isn't new, since TI does a good job as watch dog and lists many examples that date back.
- myth_buster 11y agoPerhaps provide a _Rebuttal N:_ in the relevant post as you provided this edit.
- kbenson 11y agoHere's a hint, along with some advice. You can get around the posting limit by clicking on the direct link of the comment you are responding to. Then again, it's there for a reason, so it's probably best to make sure your reply at least has some context and analysis, so the discussion doesn't devolve into a bunch of one line responses, which rarely convey enough information to make the conversation worth while.
- howlingfantods 11y agoYou do. HSBC was fined billions of dollars for money laundering. Although some argue that convictions of individuals would be better.
- newjersey 11y agoNobody got a criminal conviction. How are we OK about this?
- ensignavenger 11y agoRumor has it that their profits from money laundering were substantially greater than the fines, though.
- xorcist 11y agoI don't think we have to call that just a rumor. I haven't heard anyone argue they weren't. But it's not important what the bank paid. Everyone involved got their bonuses. No one was responsible. No one paid back. I don't think anyone involved cried over any fines the company had to pay.