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Apple and Google Declare War – Here's the Secret Winner

Resident tech guru Michael Robinson and I are both big science-fiction fans. Michael likes traditional sci-fi stories, like those of Robert Heinlein and Isaac Asimov. My sci-fi interests are more focused on “Golden Age” radio dramas, “pre-code” comics, and old movies and TV shows… like The Twilight Zone and The Outer Limits.

And when Associate Editor Cris Skokna joined our team a few months back, Michael and I were so pleased to discover that he was a sci-fi guy as well that I jokingly dubbed the three of us as “The Trilogy.”

And the other day, Cris told me a story that I absolutely had to share with you…

  • Featured Story

    Too Big To Jail: It's a Dark Day For the Rule of Law

    The opening line of a December 11, 2012 New York Times editorial on federal and state authorities choosing not to indict HSBC for money laundering reads: "It is a dark day for the rule of law."

    It may be a dark day for the rule of law, but it's business as usual for the banks.

    America's heralded and frighteningly powerful Department of Justice, along with all of the not so heralded or frightening banking regulators, simply refused to prosecute Britain's biggest bank out of fear of "collateral consequences."

    In other words, they're "too big to prosecute."

    That's what Andrew Bailey, the chief executive-designate of the Prudential Regulation Authority, said about the usual deferred prosecution agreement that accompanied HSBC's $1.9 billion fine. The Prudential Regulation Authority is set to replace the U.K.'s Financial Services Authority - the country's current toothless watch dog,

    It's just another example of too big to fail and too big to jail.

    Deferred prosecution agreements and hefty fines levied against the world's TBTF banks have become commonplace. Still, there are relatively few criminal charges, just wrist-slapping, don't-do-it-again fines and public spankings.

    It is a dark day for the rule of law because the money cloak has effectively been cast over all things having to do with justice.

    Let's call it what it is: buying immunity.

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  • banking laws