A crime is a crime… How come they don’t have to plead out in front of the judge like other criminals and how come the judges don’t recognize the same crimes as they would for the average citizen.
What exactly does it mean for a big Wall Street bank to plead guilty to a serious crime? Right now, practically nothing.
But it will if California’s Santa Cruz County has any say.
First, some background.
Five giant banks – including Wall Street behemoths JPMorgan Chase and Citicorp – recently pleaded guilty to criminal felony charges that they rigged the world’s foreign-currency market for their own profit.
This wasn’t a small heist. We’re talking hundreds of billions of dollars worth of transactions every day.