Get Our Newsletter



Links

Columnists



Site Search


Entire (RSS)
Comments (RSS)

Archive Calendar

February 2013
S M T W T F S
« Jan   Mar »
 12
3456789
10111213141516
17181920212223
2425262728  

Guides

How to Become a Bounty Hunter



Justice Department’s Pledge to Get Tough is “Beyond Laughable,” Writer Says

Rolling Stone
Opinion

I don’t want to sound like a broken record, but . . . the latest ploy by the government to insist it is “getting tough” on Wall Street is beyond laughable.

The tough new-and-improved regime, as described by the curiously credulous Dealbook, is a policy of extracting criminal guilty pleas from foreign subsidiaries, as opposed to the “usual fines and reforms.” This was the path chosen in the recent UBS deal (in which a Japanese subsidiary was charged while the parent company was given a complete walk, a non-prosecution settlement) and in the more recent deal with the Royal Bank of Scotland. Both of those banks were implicated in the LIBOR rate-fixing case, which is only maybe the most egregious and far-reaching financial scandal of our generation.

To read more click here.

OTHER STORIES OF INTEREST


Print This Post Print This Post

Write a comment

You need to login to post comments!