4 ms·

One SEC commissioner has issued a "Dissenting Statement" as she was furious that the SEC has made a mockery of "recidivist criminal behavior" by banks https://

• rcarrigan87 11y ago
  wow, that pretty much sums it up. We have more than enough regs on the book to reign in banks. We just choose not to enforce them.
  • m_alexgr 11y ago
    This. A result of the proverbial revolving door between regulators and the banks. You can have regulations up the wazoo and it won't make a spec of difference if they are not properly enforced. Even with the odd criminal conviction bank regulation is kabuki theatre for mass consumption. These guys get away with murder - literally. EDIT: yes, literally the murder of thousands in Mexico. HSBC bank & Sinaloa cartel. HSBC in particular has a long history of enabling drug cartels. The Opium Wars.
    • fennecfoxen 11y ago
      Literally, hmm? I'd be quite interested to hear about these murder cases you allege (who murdered, who died, which jurisdictions and courts were involved, et cetera).
• fnordfnordfnord 11y ago
  The solution is clear. Modify (gut) the regs to bring banks into compliance. Or simply ignore it. How will the SEC dress it up and sell it (to itself)?