4 ms·
The consequence by law was the revocation of their banking license. But because they are "too big to fail", they got away with a slap on the wrist instead.
by calcifer 4y ago
The consequence by law was the revocation of their banking license. But because they are "too big to fail", they got away with a slap on the wrist instead.
- kube-system 4y agoThe appropriate degree of the consequence is debatable, I'm just saying, ~$2 billion of fines/penalties does not equal "clean".
- calcifer 4y agoThe fine was less than 20% of their annual income, for a crime committed over decades. Compared to what the law says, they got away completely clean. The punishment was barely more than a sternly worded letter.