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Politics : President Barack Obama
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To: ChinuSFO who wrote (134975)7/26/2013 10:17:53 AM
From: RetiredNow  Read Replies (1) of 149317
 
Chinu,
what do you think of the 5 millionth banking scandal this year? I mean the Goldman Sachs aluminum price manipulation scandal, of course. Do you think this might be a consequence of the big banks only having to pay minute fines when they are caught in criminal acts, instead of someone going to jail? Do you think that when the President gets to tell his Dept. of Justice lackey, Holder, who to prosecute and who to give the "Get out of Jail" free card to, that this creates a system of crony-capitalism where the President picks the winners? Do you think that is conducive to a fair and just Democracy and a fair and just economic system?

The Rule of Law should be enforced and these bankers should have already been put in jail. These scandals will continue to increase in frequency and severity until people like you realize that jail time for breaking the law is the only way to stop these criminals from doing what they do. Using investor money to pay small fines when they are caught does nothing to destroy the incentive structure for criminals to make billions with no risk of jail time, while risking investor's and US taxpayer money in huge gambles and criminal price manipulation.

A Shuffle of Aluminum, but to Banks, Pure Gold
nytimes.com
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