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Source: Source Watch

Category: Digital Media, Legal, M&A

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

8 Responses to “Too Big To Jail”

  1. pekoe says:

    Wonderful graphic. I would have liked to see in added to this the width of the bars changing to indicate the assets in inflation adjusted dollars, so we could see visually how the various components grew fatter or skinnier over time as their fortunes changed, and if all these mergers and acquisitions ever resulted in “synergies” —or is it just the strong consuming the weak, leaving a trail of droppings over time…

  2. Lyle says:

    If you read the book Mccoll on the CEO of BofA before Ken Lewis you would find that almost his entire career was mergers. So if you ran the chart back to 1986 it would be a lot bigger. In addition if you showed smaller mergers it would be bigger.

  3. rd says:

    I agree that the firms are too big to jail, although one could use ankle bracelets to keep all of the workers in the office building and replace the security guard in the lobby with a corrections officer. With direct deposit, the spouses and families would still be able to have a good income while the inmates are working.

    However, to paraphrase the NRA “Banks don’t steal money; people steal money”.

    The big issue that I have had with the Holder Administration is that they have refused to pursue the going after executives who made decisions that violated the law. Somebody had to direct people to do things. If no direction was given, then there is most likely a Sarbanes-Oxley violation showing a complete lack of financial controls. Nobody is indispensable, especially if they are people with a propensity for doing illegal things. Companies replace people all the time, so why not because somebody is under investigation.

    In this day and age, there is likely a mile-long string of memos, e-mails, and Blackberry texts creating the chain of evidence. The Holder Administration took the only road possible to avoid uncovering this evidence by simply not investigating in the first place. Once you start to roll the lower level people, they will usually sing like birds about the people who were actually directing them and making the key decisions.

    • Petey Wheatstraw says:

      You nailed it. SarbOx was supposed to leave upper management no place to hide. No point in hiding, if no one is seeking you.

  4. grandwazoo says:

    my debit card # has gone through 4 different banks so far

  5. Angryman1 says:

    Sadly, not one of those bankers cares if the system fails. They have hundreds of millions and billions of personal wealth.

    The only people to jail are those guys.

  6. Bomber Girl says:

    Sad is the word for it. I worked on the Street for about 20 years, early 80s, 90s, until about 2005. In the first 15+ years, witnessed and participated in a lot of good, value-added work. The last 5, the shift was afoot. Now when I read the press, the first headline is often about a company I worked for (I worked for several major financial institutions) and the second is about a client (or at least the emerging clientele that mattered, replacing real investors) and both articles usually involve fines. Didn’t quite realize it at the time, but when I got out of the biz, part of the reason was an underlying feeling that this was the way it was going and I didn’t want to be a part of it.

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