The price to keep bankers out of jail: $110 billion and rising

110 billion_0

http://www.zerohedge.com/news/2014-08-14/price-keep-bankers-out-jail-110-billion-and-rising

Six years after the greatest financial crisis in modern history, not a single prominent – and bailed out – banker (or frankly any for that matter) has gone to prison. Still, in the great squid pro non-jail quo, regulators and the DOJ have had to be appeased somehow. That “somehow”, as has been revealed over the past several years, is with quarter after quarter of massive legal charges, settlements, penalties and so on. Of course, since the banks wouldn’t exist in the first place if it wasn’t for a multi-trillion taxpayer bailout, they don’t mind because the math is quite simple: being converted into a government utility is better than being bankrupt anyday. Also, it is shareholder money, not an actual clawback (oh, the horror).

So what is the total amount of shareholder (and by implication, taxpayer) money that has been spent by the bankers to distract regulators and the “cops” from not jailing a single one of them? According to the following chart from the WSJ, just the six biggest offenders have spent over a whopping $110 billion to keep the government happy and the US prison population in check.

Here, one could add a tangent, that the more money spent on settlements by any given bank, the more in need of a bailout it was in the first place. In which case one dreads to think just how bankrupt Bank of America will be when the next inevitable crisis hits, and how many trillions in taxpayer bailout funds it will need next time around…

———–

thanks to rev17 for the link..

and there it is in black and white..nobody in jail..loose change used to pay back the theft of trillions..

“not a single prominent – and bailed out – banker (or frankly any for that matter) has gone to prison”

401

~ by seeker401 on August 18, 2014.

5 Responses to “The price to keep bankers out of jail: $110 billion and rising”

  1. considering the racial population of Ferguson…and the current chaos there……why am I thinking Ebola?

  2. Wells. wells, what a beauuuutiful figures, bailed out from the Dr Doolittle”s witchcraft statistics? An y how? Could such shame appear on screne……..In these weary times of declin tonage and shammmless soutenage every th i ng is possible, even the opposite figures…And even the best calculator might turn a blind eye, yes really, allseeing everthing much too clearly, i guessie.But what is the relevance of getting children in jail for playing too long the same mrc fact and figure feud, in their little banks that pretend to even be moore pouwerful than its purpouse? As long as the orchestre keeps the king in its right position no th i ng belouve me, wil change, for policies have ears and eyes everywhere, and by God, we did not believe that either in our little Dutch colony, Hollandia, our call her forta butavia, who cares.It would be nice to invent new strict rules for the bank i ng elite, balfour the moon rises, if you know what we meant. Good luch, God bless America.xxx

  3. Reblogged this on Real News Australia.

  4. Banks that are too big to fail are too big to exist. Period.

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