A few billion here, a few billion there, you’re still not talking about actual accountability…
The banks engaged in wholesale fraud, their executives knew all about it, they destroyed millions of lives, and they got away with it.
So, it won’t be long now before the next casino comes crashing down, as regulators discover that the word “risk” means “whatever you can get away with before the next bailout”.
Oh, and by the way, the banks themselves still haven’t come clean about their trillions in bad loans, some sitting on the Fed’s balance sheet but many still hidden away in the dark recesses of minds like Jamie Dimon’s.
And in Europe, of course, the accounting hasn’t even begun!
What matters first and foremost to the political leaders the banks own, which is to say all of them, is to keep the contributions coming, keep the rich happy, and pretend they care about idiocies like the deficit and the debt (they don’t).
Gorilla says: “A great triumph for capitalism, and the socialized losses that continue to make it all possible!!!”