To Big for Trial

Between the revolving door of federal financial regulators and the financial institutions they supposedly regulate, and the interests in Congress that keep that regulation at a minimum (in what is covered and in what resources are available to prosecute it), Wall Street basically just has to treat any settlement fines as a blip in quarterly profitability, coupled with occasional embarrassing hearings for executives before Congress. Which is why these endless settlements have become just the cost of doing business in the banking world, ho-hum, let's move on to the next scheme do defraud … 

"We all understand why settlements are important, that trials are expensive and we can’t dedicate huge resources to them,” said the Senator during today’s hearing on Wall Street reform and regulatory oversight. “But we also understand that if a party is unwilling to go to trial — either because they’re too timid or because they lack resources — that the consequence is they have a lot less leverage in all the settlements that occur.” 

Glad to see someone is, at a bare minimum, giving these regulators a stern talking to.

Reshared post from +Les Jenkins

THIS! This is the sort of questions that need to be asked of our regulators. They are FAR too fucking cozy with the people they're tasked with overseeing. I AM SO HAPPY SHE GOT ELECTED!