The Usual Suspects Plead Guilty — 12 Banks Charged

The Usual Suspects Plead Guilty — 12 Banks Charged

Like a perp line up, twelve major banks agreed to pay $1.87 billion to settle allegations that they colluded in price fixes and to lock out competitors in the market for insurance-styled products. They are the types of items widely traded before the financial crisis, according to a lawyer for investors. Of course the fines do not go to help the public…they go to the government. More inequity on the next page:

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