Goldman Sachs really only has to pay half of its settlement for world-destroying financial fraud

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The headline figure of a $5B settlement that Goldman will have to pay after admitting to the toxic-asset fraud that led to the global economic collapse is just window-dressing: in the fine print are exemptions and giveaways that could cut that number in half. Read the rest

HSBC settlement approved: no criminal charges, 5 weeks' profit in fines, deferred bonuses for laundering billions for narco-terrorists

Remember when HSBC got caught laundering billions for Mexican narco-terror cartels? Remember how they offered to pay five weeks' profits in fines and to defer their executive bonuses to escape criminal charges?

The crime-fighting legal eagles at the Department of Justice approved the settlement last week. Remember, though, if you are suspected of laundering money or selling drugs, the DoJ will take your house away and put you in jail for the rest of your life. Nice to be "too big to jail." Still, deferring multimillion-dollar bonuses has gotta hurt, huh? Read the rest