big bank scandals

Article Index

Feds Finally Put Their Scopes on the “Too Big to Jail”

Late last month, depending on how you look at it, either something wonderful happened - or the feds continued their cowardly, conniving ways.

A group of federal prosecutors met in Washington and in New York with various financial regulators to discuss filing criminal charges against and coercing guilty pleas out of two giant banks. This looks to be a historic occurrence.

But two things say we shouldn’t pop open the champagne just yet...

Don't Believe the Headlines - Big Banks Are Still Screwing You

When it comes to big banks' bad behavior and the fines they pay to settle "allegations" - which are actually civil charges and which would be criminal charges if applied to any other business or in any parallel universe - things aren't even close to what they seem.

Sure the headlines scream victory, at least monetary victory, for some ripped-off consumers, some hard-charging regulators, and our vaunted (NOT) Justice Department.

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The Shocking Deals Behind Banksters' Fines

Editor's Note: Yesterday Shah showed you the easiest way to make a fortune in the markets, as long as you're willing to break one of Wall Street's golden rules. Today, here's another reason Shah's so willing...
Headline news about banks settling charges for violating rules, regulations, and laws - and announcements of the fines they agree to pay - appears every day...
Rarely - if ever - do they reveal how much money is really being paid or where it's going...
They also seldom explain what kinds of settlements are reached...
Or how banks negotiate what they'll actually pay and to whom... or how they negotiate tax deductibility of fines... or how they get "credits" for fines they never pay... or how insurance covers some of it...
This is not one of those stories... this is about what really happens behind the banksters' doors.