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> proud to have a system that does imprison bankers I am somewhat puzzled by this sentiment that it is good to imprison bankers. That is by no means an Icelan

> proud to have a system that does imprison bankers I am somewhat puzzled by this sentiment that it is good to imprison bankers. That is by no means an Iceland-only thing, you can see it elsewhere as well. But I find that scary. People should go to jail simply because someone hates their jobs, legal ones? I can fully understand that bankers, like everyone else, should go to jail when they commit fraud, insider trading or similar crimes. I understand that is what was done in Iceland. But the discourse is usually about just being a banker is enough to warrant someone being hanged or sent to jail, with the being banker itself being a serious crime. It's a silly rhetoric trick that makes me suspicious of these prosecutions.

rbonvall 11y ago
In other countries bankers don't go to jail when they commit fraud or other crimes.
- ptaipale 11y ago
  Are there lots of good examples of fraud (not just claims, but actually in some way reasonably proven crimes) done by bankers where they're let off because they're bankers?
  - elviejo 11y ago
    HSBC has been doing money laundry for years, billions of dollars... It is proven. http://www.rollingstone.com/politics/news/outrageous-hsbc-settlement-proves-the-drug-war-is-a-joke-20121213 http://www.rollingstone.com/politics/news/outrageous-hsbc-se...
Beltiras 11y ago
You take my words out of context. There are well publicized examples from the US where bankers did great harm and were let off due to being high earners. The case that jumps to mind is the hedge-fund manager that plowed down a surgeon on a bicycle. Banker was drunk, doctor was on his way home. Banker did not do a day in jail due to that harming his ability to financially remunerating the doctor. Banker didn't even get a spot on his record for the same reason.
- ptaipale 11y ago
  I wasn't merely referring to your particular words but to a more general sentiment which is expressed in many meme posters that are shared on Facebook, etc. Are there well publicized examples of US bankers who did crimes related to banking - not great harm but crimes - and were let off due to being high earners? The example you mention above is nothing specific about bankers; it's a claim that a rich person gets off lightly because he can pay for the damages. In fact, related to this particular case, there is a claim that the banker was targeted by police because of his wealth, because other hit-and-run drivers have gotten off completely. http://www.cnbc.com/id/40071519 http://www.cnbc.com/id/40071519
  - tim333 11y ago
    "But when she and others raised objections to the toxic loans, something odd started happening. The number-crunchers who had been complaining about the loans suddenly began changing their reports. The process she describes is strikingly similar to the way police obtain false confessions: The interrogator verbally abuses the target until he starts producing the desired answers. "What happened," Fleischmann says, "is the head diligence manager started yelling at his team, berating them, making them do reports over and over, keeping them late at night." Then the loans started clearing." Said diligence manager got off. JP Morgan paid $9bn to settle and hush it up. http://www.rollingstone.com/politics/news/the-9-billion-witness-20141106 http://www.rollingstone.com/politics/news/the-9-billion-witn...

rbonvall 11y ago

In other countries bankers don't go to jail when they commit fraud or other crimes.

ptaipale 11y ago
Are there lots of good examples of fraud (not just claims, but actually in some way reasonably proven crimes) done by bankers where they're let off because they're bankers?
- elviejo 11y ago
  HSBC has been doing money laundry for years, billions of dollars... It is proven. http://www.rollingstone.com/politics/news/outrageous-hsbc-settlement-proves-the-drug-war-is-a-joke-20121213 http://www.rollingstone.com/politics/news/outrageous-hsbc-se...

Beltiras 11y ago

You take my words out of context. There are well publicized examples from the US where bankers did great harm and were let off due to being high earners. The case that jumps to mind is the hedge-fund manager that plowed down a surgeon on a bicycle. Banker was drunk, doctor was on his way home. Banker did not do a day in jail due to that harming his ability to financially remunerating the doctor. Banker didn't even get a spot on his record for the same reason.

ptaipale 11y ago
I wasn't merely referring to your particular words but to a more general sentiment which is expressed in many meme posters that are shared on Facebook, etc. Are there well publicized examples of US bankers who did crimes related to banking - not great harm but crimes - and were let off due to being high earners? The example you mention above is nothing specific about bankers; it's a claim that a rich person gets off lightly because he can pay for the damages. In fact, related to this particular case, there is a claim that the banker was targeted by police because of his wealth, because other hit-and-run drivers have gotten off completely. http://www.cnbc.com/id/40071519 http://www.cnbc.com/id/40071519
- tim333 11y ago
  "But when she and others raised objections to the toxic loans, something odd started happening. The number-crunchers who had been complaining about the loans suddenly began changing their reports. The process she describes is strikingly similar to the way police obtain false confessions: The interrogator verbally abuses the target until he starts producing the desired answers. "What happened," Fleischmann says, "is the head diligence manager started yelling at his team, berating them, making them do reports over and over, keeping them late at night." Then the loans started clearing." Said diligence manager got off. JP Morgan paid $9bn to settle and hush it up. http://www.rollingstone.com/politics/news/the-9-billion-witness-20141106 http://www.rollingstone.com/politics/news/the-9-billion-witn...