{"id":31379,"date":"2015-12-01T19:27:02","date_gmt":"2015-12-01T18:27:02","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=31379"},"modified":"2015-12-01T19:27:02","modified_gmt":"2015-12-01T18:27:02","slug":"balance-between-criminal-charges-in-banking-and-fines","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/balance-between-criminal-charges-in-banking-and-fines\/","title":{"rendered":"Balance Between Criminal Charges in Banking and Fines?"},"content":{"rendered":"

The Rocky Road to Globalization<\/p>\n

French companies are complaining that they pay huge fines to the US government when they do not comply with American law, but that France is not benefitting by reciprocal fines. \u00a0In the US, the policy has been to exact fines, big by the ordinary citizen’s standards, but the cost of doing business for most corporations. \u00a0There are no crimes charged.<\/p>\n

Only when Credit Suisse was forced to plea one criminal charge as citizens and some lawmakers joined the hue and cry against big banks’ seeming immunity. \u00a0Promises made by the SEC and the Department of Justice helped the Swiss bank accept the charge. \u00a0They must have been told that the bank would not loose its 2 billion dollar pension business in the US if they pleased guilty.<\/p>\n

US Representative Maxine Waters and Senator Elizabeth Warren demanded that the US Labor Department justify its exemption for Credit Suisse, enabling the bank to continue its pension business in the US despite its criminal status.<\/p>\n

Hearings were held last January 15th. \u00a0Testimony about Credit Suisse’s corrupt culture was given by important people in finance around the globe.<\/p>\n

The outcomeL \u00a0Instead of granting the ten-year exemption Credit Suisse had applied for, they were given a five-year exemption. \u00a0The criminal plea counted for almost nothing.<\/p>\n

Do we want laws on the books that are not enforced? \u00a0Why exact a criminal plea if it is not enforced? \u00a0 ANd where do these monies the government collects go?<\/p>\n

\"Jail<\/a><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The Rocky Road to Globalization French companies are complaining that they pay huge fines to the US government when they do not comply with American law, but that France is not benefitting by reciprocal fines. \u00a0In the US, the policy … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[70,22,13],"tags":[],"class_list":["post-31379","post","type-post","status-publish","format-standard","hentry","category-big-banks","category-corruption","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t