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The price to keep bankers out of jail: $110 billion and rising


Follow The Money

110 billion_0

http://www.zerohedge.com/news/2014-08-14/price-keep-bankers-out-jail-110-billion-and-rising

Six years after the greatest financial crisis in modern history, not a single prominent – and bailed out – banker (or frankly any for that matter) has gone to prison. Still, in the great squid pro non-jail quo, regulators and the DOJ have had to be appeased somehow. That “somehow”, as has been revealed over the past several years, is with quarter after quarter of massive legal charges, settlements, penalties and so on. Of course, since the banks wouldn’t exist in the first place if it wasn’t for a multi-trillion taxpayer bailout, they don’t mind because the math is quite simple: being converted into a government utility is better than being bankrupt anyday. Also, it is shareholder money, not an actual clawback (oh, the horror).

So what is the total amount of shareholder (and by implication, taxpayer) money that has been spent by the bankers to distract regulators…

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Author:General Maddox

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