27/7/15

[identity profile] luzribeiro.livejournal.com
Gotta love those nice banks (who, of course, being corporations, are people - and the best people of all sorts of people). The taxpayers bailed them out during the financial crisis because they were too-nice-to-fail, and yet, after having the bulk of that money to give huge bonuses to themselves for a job well done, they then turn around and do this:

Lawsuit accuses 22 banks of manipulating US Treasury auctions

"Twenty-two financial companies that have served as primary dealers of U.S. Treasury securities were sued in federal court on Thursday, in what was described as the first nationwide class action alleging a conspiracy to manipulate Treasury auctions that harmed both investors and borrowers. The State-Boston Retirement System, the pension fund for Boston public employees, accused Bank of America's Merrill Lynch unit, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, UBS, and 14 other defendants of illegally trying to profit on the sale of Treasury bills, notes and bonds at investors' expense."

Sounds good, eh? Go, justice, go! Finally, the bad, bad banksters will end up where they belong: behind bars. Right?

Wait, what are you saying? Not so fast, you say? If anyone gets caught at all, their most probable punishment will be a two-year stint on the South of France, a GulfStream jet, and 5-star resort all-inclusive expenses paid for by ourselves the stupid, unwashed, gullible serfs who'll be always footing the bill for their corruption?

Banksters breaking the law, oh say it ain`t so.. Shocked, I am shocked! )

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