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Hold Bankers Accountable for Their Crimes

Katrina vaden Heuvel @ Washington Post - Last week, Attorney General Loretta E. Lynch announced that five major banks were pleading guilty to criminal charges for what she described as a “brazen display of collusion” to manipulate the currency markets. The banks — Citigroup, JPMorgan Chase, UBS, Barclays and Royal Bank of Scotland Group — were hit with $5.6 billion in fines and penalties.

Sensibly, the banks were forced to plead guilty, not simply pay fines in settlements where they neither admitted nor denied the changes. But the charges still were brought against banks, not bankers. No banker was held accountable.  Read more.

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