Replace 'institution' with 'shareholders'. That's why banks like DB trade for a price to book of < 1 (0.6 today). These settlements are a direct transfer from

Replace 'institution' with 'shareholders'. That's why banks like DB trade for a price to book of < 1 (0.6 today). These settlements are a direct transfer from people's 401k to the pocket of politicians. > More than $5 billion has flowed into New York’s state and city accounts this year from settlements with BNP Paribas SA over sanctions violations and Credit Suisse Group AG for helping Americans evade taxes. In the city, the bounty has already funded a $160 million program to outfit police with tablet computers and a $35 million initiative to prosecute rapists. The New York governor plans to use a big portion to rebuild Rochester, Syracuse and other upstate cities far removed from the banks and their crimes. [0] [0] http://www.bloomberg.com/news/articles/2014-12-04/new-york-officials-jockey-as-bank-settlements-create-windfall http://www.bloomberg.com/news/articles/2014-12-04/new-york-o...