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Offlineimachavel
I loved and lost but I loved-ftw
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Registered: 06/06/07
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a few banks have to pay $2.5 billion in fines for market manipulation
    #21701828 - 05/20/15 10:05 AM (8 years, 8 months ago)

Please don't get me started into another discussion about who owes what jack ass money, but at the very least, let me ask thus unto you. What do you think of this?:

http://m.huffpost.com/us/entry/7342808

Fucking justice or what? :cheers:


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:kingcrankey: I did not say to edit my signature soulidarity! Now forever I will never remember what I said about understanding the secrets of the universe by paying attention to subtleties!

:facepalm: I'm never giving you the password again. Jerk


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InvisibleLe_Canard
The Duk Abides


Registered: 05/16/03
Posts: 94,392
Loc: Earthfarm 1 Flag
Re: a few banks have to pay $2.5 billion in fines for market manipulation [Re: imachavel]
    #21702141 - 05/20/15 12:00 PM (8 years, 8 months ago)

Indeed. But no doubt the right-winger's heads will explode and bitch about evil Obama's "war on banks".


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Offlinewayworm


Registered: 12/07/14
Posts: 54
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Re: a few banks have to pay $2.5 billion in fines for market manipulation [Re: Le_Canard]
    #21702658 - 05/20/15 02:57 PM (8 years, 8 months ago)

It doesn't seem like much of a punishment when you make exorbitant amounts of money and only have to give back a tiny bit.  At least it is something.


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Invisibleluvdemshrooms
Two inch dick..but it spins!?
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Registered: 11/29/01
Posts: 34,247
Loc: Lost In Space
Re: a few banks have to pay $2.5 billion in fines for market manipulation [Re: imachavel]
    #21702669 - 05/20/15 02:59 PM (8 years, 8 months ago)

What's the big deal? If you violate the law, you should get bitch-slapped.


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You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for that my dear friend is the beginning of the end of any nation. You cannot multiply wealth by dividing it. ~ Adrian Rogers


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Offlineqman
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Registered: 12/06/06
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Re: a few banks have to pay $2.5 billion in fines for market manipulation [Re: Le_Canard]
    #21703297 - 05/20/15 05:44 PM (8 years, 8 months ago)

Quote:

Le_Canard said:
Indeed. But no doubt the right-winger's heads will explode and bitch about evil Obama's "war on banks".




Yet, the banks put Obama into power in 2008, he's owned by the banks!!

The fines are nothing more than PR, $2.5 billion is a drop in a lake for these crooks.

The next time you hear "fat cats" coming out of Obama's mouth for the 1000th time, don't forget to look for his wink.  :rofl2:


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OfflineThaj
:-)

Registered: 04/30/15
Posts: 142
Last seen: 3 years, 8 months
Re: a few banks have to pay $2.5 billion in fines for market manipulation [Re: qman]
    #21705113 - 05/21/15 02:38 AM (8 years, 8 months ago)

Just the very tip of iceberg...it is way dirtier


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There is no real sin but lessons yet to be learned.

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InvisibleLe_Canard
The Duk Abides


Registered: 05/16/03
Posts: 94,392
Loc: Earthfarm 1 Flag
Re: a few banks have to pay $2.5 billion in fines for market manipulation [Re: qman] * 1
    #21705132 - 05/21/15 03:01 AM (8 years, 8 months ago)

Indeed, indeed. If he was really sincere, the fines would be much higher, and some nice long prison sentences for those involved.


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Invisiblezorbman
blarrr
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Registered: 06/04/04
Posts: 5,952
Re: a few banks have to pay $2.5 billion in fines for market manipulation [Re: Le_Canard]
    #21712566 - 05/22/15 11:48 PM (8 years, 8 months ago)

No one goes to jail. Ever.

Fines? Just the cost of doing "business", like advertising, etc.

Nice "work" if you can get it.


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“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.”  -- Rudiger Dornbusch


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Offlineimachavel
I loved and lost but I loved-ftw
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Re: a few banks have to pay $2.5 billion in fines for market manipulation [Re: zorbman]
    #21718923 - 05/24/15 09:24 PM (8 years, 8 months ago)

They should go to jail. This became a huge thread in the pub. I don't understand why colluding to fix profit margins is illegal but otherwise the free market dictates you can set whatever profit you want as long as it isn't colluded between huge financial institutions.

However, I still disagree with these actions no matter how minimal the impact on the economy overall. Jail time would've served more justice. It doesn't mean I don't think people do this all the time and don't get caught.

It seems perfectly legal for the government to basically do this same thing though, under a different name. Propping the stock market. Setting interest rates that don't meet the standard of inflation. The government says your interest is as important as the natural flow of the economy and prices should inflate based on success and not on artificial hype. But buying bonds that's not artificial propping?

If a person did this it would be colluding. When the government does it its all good. Even though we have seen that inflation blowing up way past the rate of interest is not necessarily healthier then it happening the other way around, it still continues and the governments part to balance it still seems non existent compared to corrupt politicians lobbying and pushing such actions in the hope to raise their own beneficiality.

I know the banks getting charged is like a small drop in the bucket of financial crimes committed daily. I know no one was charged in criminal court. I know its nonsense and these fines are like the bears fining the wolves for eating the deer in the woods. Still, in an unjust world a small drop of justice falls in the bucket and I sleep maybe just a little better tonight knowing someone had to pay through the teeth at least by my standards.

I don't have $2.5 billion sitting around. Do you?


--------------------
:kingcrankey: I did not say to edit my signature soulidarity! Now forever I will never remember what I said about understanding the secrets of the universe by paying attention to subtleties!

:facepalm: I'm never giving you the password again. Jerk


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Invisiblezorbman
blarrr
Male

Registered: 06/04/04
Posts: 5,952
Re: a few banks have to pay $2.5 billion in fines for market manipulation [Re: imachavel]
    #21719575 - 05/25/15 03:06 AM (8 years, 8 months ago)

Quote:

I sleep maybe just a little better tonight knowing someone had to pay through the teeth at least by my standards.

I don't have $2.5 billion sitting around. Do you?




Nope.

Then again, I'm not an international bank. Just wait until they ban cash. That's next..

"Someone"? :yesnod:

Sleep well, my friend.


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“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.”  -- Rudiger Dornbusch


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