Matt Taibbi: World’s Largest Banks Admit to Massive Global Financial Crimes, But Escape Jail (Again)

[marmar]

Published on May 21, 2015
http://democracynow.org - Five of the world’s top banks will pay over $5 billion in fines after pleading guilty to rigging the price of foreign currencies and interest rates. Citigroup, JPMorgan Chase, Barclays and Royal Bank of Scotland pleaded guilty to conspiring to manipulate the price of U.S. dollars and euros exchanged in the $5 trillion FX spot market. UBS pleaded guilty for its role in manipulating the Libor benchmark interest rate. No individual bank employees were hit with criminal charges as part of the settlements. We are joined by Matt Taibbi, award-winning journalist with Rolling Stone magazine.

[think]

1. Basically everyone who is breathing on earth were affected by these crimes

The banks were colluding to fix interest rates and currency prices.

How can this go unpunished by other than fines?

[johnnyreb]

2. Anyone know yet how much the defendants profited from the fines?