It soon became clear that the SEC wasnt so much investigating - TopicsExpress



          

It soon became clear that the SEC wasnt so much investigating Chases behavior as just checking boxes. The kid-gloves approach that the DOJ and the SEC take with Wall Street is as inexplicable as it is indefensible, says Dennis Kelleher of the financial reform group Better Markets, which would later file suit challenging the Chase settlement. They typically charge only one offense when there are dozens. It would be like charging a serial murderer with a single assault and giving them probation. the idea that Holder had cracked down on Chase was a carefully contrived fiction, Holders office scheduled a press conference for the morning of September 24th, 2013, to announce sweeping civil-fraud charges against the bank, all laid out in a detailed complaint drafted by the U.S. attorneys Sacramento office. But that morning the presser was suddenly canceled, and no complaint was filed. the bank would skate with negligible cash fines the relief is often not paid by the bank, which mostly just services the loans, but by the banks other victims, i.e., the investors in their bad mortgage securities. rollingstone/politics/news/the-9-billion-witness-20141106
Posted on: Mon, 10 Nov 2014 18:27:41 +0000

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