Wednesday, November 12, 2014

Big banks

Today in the news there was a lot of hoopla about six big banks who were accused of price fixing and were fined 4 billion dollars. The combined assets of these banks are 7,300 billion. I have no idea how much money these banks made from these illegal activities but that fine is meaningless. If we are going to have changes in the behavior of these white collar criminals some will have to go to prison. Royal Bank of Scotland 1.9 T HSBC 2.7 T JP Morgan 2.4 T Citi Group 1.8 T Bank of America 2.2 T USB 0.3 T

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