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Wall Street criminals

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5 Crazy Corporate Scandals in Q1 2017

By , Associate Editor, Money Morning -

corporate scandals So far in 2017, there have already been an inordinate number of corporate scandals — and we're only at the end of the first quarter. Social media has proven a new, powerful force in airing out bad company policies. But classic scandals like tax fraud, or price collusion, have already reared their ugly heads this […]

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Will These Wall Street Criminals Finally Be Punished?

By , Associate Editor, Money Morning • @TaraKateClarke -

wall street criminal

Seven years have passed since the peak of the 2008 financial crisis, and still, not a single too-big-to-fail chief executive officer (CEO) is in jail.

Sure, civil suits have been filed against the guilty Wall Street firms - civil suits that result in settlements that barely touch these global financial institutions' balance sheets.

As for the Wall Street criminals behind the toxic loans that tanked the economy in 2008 - the actual people, not the institutions they hide behind - there has never been so much as a wrist slap, let alone a criminal conviction.

That's why we were pleasantly surprised when The Wall Street Journal reported last week that U.S. officials are finally pursuing criminal charges against three Royal Bank of Scotland and JPMorgan execs...

Ben Bernanke Should Be in Jail Alongside the Wall Street Execs He Just Accused

By , Associate Editor, Money Morning • @TaraKateClarke -

The Fed

"Illegal acts ultimately are done by individuals, not by legal fictions," he added in an interview published by USA Today on Sunday.

It's true that seven years later, not a single Wall Street bad actor has gone to prison over the credit crisis - even though it dwarfed the savings and loan scandals of the 1980s for which 1,100 people were prosecuted for white collar crimes, including top executives of the large failed banks.

But the statement coming from Bernanke is loaded with hypocrisy. He played a major role in tanking the U.S. economy himself. Take a look...

America Has Become a "Banana Republic Run by Wall Street Criminals"

By , Associate Editor, Money Morning • @TaraKateClarke -

wall street criminals

Wall Street criminals just won't stop misbehaving.
The latest crime was exposed Wednesday. Five of the biggest names in global finance agreed to pay billions to settle lawsuits alleging they illegally gamed the $5 trillion-a-day foreign exchange market.
"America has become a banana republic run by Wall Street criminals," Money Morning Capital Wave Strategist Shah Gilani said on Wednesday.

Of course, history dictates the fines will have no actual effect on business practices. Not including this week’s, just look at the litany of settlements too-big-to-fail banks have shelled out in the last five years alone…

Why These Wall Street Criminals Will Never Be in Jail

By , Associate Editor, Money Morning • @TaraKateClarke -

Today's Washington will never bring charges against Wall Street criminals - criminal charges, that is.

Five years have passed since the peak of the subprime financial crisis, in which the nation's largest banks formulated sloppy loans that taxpayers ended up paying for. Wall Street's greed cost the United States nearly 9 million jobs (6% of the workforce), a 30% fall in housing prices, and a 50% dip in the stock market.

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