Rollin' Like Sisyphus

Guilty, But Not Responsible

Posted in The Fail Pail by Huckleberry on May 21, 2015

So the perpetrators of the biggest criminal fraud in the history of Western civilization — both in magnitude and audacity — arrange a deal where they are found guilty of felonious activity yet are allowed to continue business as usual, up to and including sticking their victims with the bill for the one punitive consequence of their convictions:

Investors yawned at the news Wednesday that five of the world’s biggest banks, including JPMorgan Chase & Co. and Citigroup Inc., agreed to plead guilty in a currency-rigging probe. They’re among six banks that will pay $5.8 billion in fines. Barely more than a year ago, criminal charges against major U.S. banks were considered unthinkable, with lawyers and analysts viewing felony convictions as a death sentence and a threat to the financial system. Now, by granting waivers allowing lenders to keep operating even after a felony plea, the government has managed to punish firms while protecting them from fatal consequences.

Of course.
When justice demands the guilty be utterly dissolved and liquidated, naturally, the best solution is to stay the course Because Economics. Do note, also, that they only copped to a minuscule fraction of the malfeasance each and all perpetrated. And I have no doubt that investors “yawned” at the news.
We know what happens when they do anything else.
It wasn’t until this very moment that it occurred to me that governments don’t so much utilize Ponzi schemes, they are themselves Ponzi schemes.
When the fix is in, get the fuck out, yo.


One Response

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  1. El Borak said, on May 21, 2015 at 19:13

    Just because you did it, doesn’t mean you’re guilty…

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