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The Economist also raised the point recently that these "offers" from the Government are essentially shakedowns, the risk to the bank if they actually fought th
by cmdkeen 11y ago
The Economist also raised the point recently that these "offers" from the Government are essentially shakedowns, the risk to the bank if they actually fought the charges is so great that it is never in their interest to do anything but pay up.
When you consider that States as well as the Federal Government are capable of doing this the potential for shenanigans increases.
In both cases justice is not done, wrongdoers not actually punished etc.
- mathattack 11y agoIt's bad for everyone - it's not fair to firms, and justice isn't served. But follow the $... The states get a lot of income, and executives stay out of jail. If every bank is getting shaken down equally, no exec loses relative to their peers. This isn't to say that I condone the bad behavior. If anything, I am amazed that more people haven't gone to jail.