The CEO of JPMorgan Chase called the pandemic a "wake up call."
Maybe we should have broken up the banks!
Yes, bankers were just minding their own business when regulators started attacking them.
David Weidner, who covers Wall Street for MarketWatch, says the settlements "appear to be just another cost-of-doing-business budget line for the banks,"
"I could lose everything. But if we don't start speaking up, then this really is all we're going to get: the biggest financial cover-up in history."
Banks--as opposed to recent hacking targets Home Depot and Target--are supposed to be heavily fortified. Not so much!
We need to send these people to jail. But we won't.
"Does anyone on this panel seriously think that the government's enforcement system for financial crimes is actually working in terms of deferring future crimes?"
Take a snapshot of any major bank fraud and chances are you'll see JPMorgan Chase staring out at you from the frame.
It isn’t just legislation, appointments, and elections that will be needed to take on Wall Street. We’re going to have to remind people of why they need to be shamed for what they have done.
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