Posts filed under “Legal”
From the Wall Street Journal:
Six financial institutions were fined €1.71 billion ($2.32 billion) by European Union regulators Wednesday for colluding in an attempt to manipulate key benchmark interest rates, the EU’s largest-ever penalty in a cartel case.
The settlements involved penalties against some of the world’s biggest banks, including Deutsche Bank, Société Générale, Royal Bank of Scotland Group, RBS, J.P. Morgan Chase & Co. and Citigroup.
A rough total €6 billion the total penalties levied by regulators against financial institutions in connection with probes into manipulation of the London interbank offered rate, or Libor, and other widely used financial benchmarks.
The NYT Implies that Not Prosecuting JPMorgan Proves DOJ’s Vigor By William K. Black November 26, 2013 No one expects Andrew Ross Sorkin’s slavish “Deal Book” lackeys to demand that the elite Wall Street bankers whose frauds drove the financial crisis be imprisoned, but the slavishness to the banks revealed when major news…Read More
Government Excuses for Letting the Banksters Off Scot-Free Are Bogus; Failure To Punish Wall Street Criminals Is The Core Cause Of Our Sick Economy U.S. Attorney General Eric Holder said: I am concerned that the size of some of these institutions [banks] becomes so large that it does become difficult for us to…Read More
Distinguished Jurist Lecture: Hon. Jed S. Rakoff, “The Paucity of Criminal Prosecutions Arising from the Financial Crisis: Unaccountable?” Time: 4:30 PM – 5:30 PM November 19, 2013 Location: Silverman 245A, Bernard Segal Moot Court Room Reception to follow. Open to the public. Jed Saul Rakoff is a federal judge for the United States District Court…Read More
Scalded by Coffee, Then News Media: By Retro Report October 21st, 2013
In 1992, Stella Liebeck spilled scalding McDonald’s coffee in her lap and later sued the company, attracting a flood of negative attention. It turns out there was more to the story.
Judge Rakoff: Why Have No High Level Executives Been Prosecuted In Connection With The Financial Crisis?
Why Have No High Level Executives Been Prosecuted In Connection With The Financial Crisis? Jed S. Rakoff, U.S. District Judge 11/12/13 Five years have passed since the onset of what is sometimes called the Great Recession. While the economy has slowly improved, there are still millions of Americans leading lives of quiet desperation:…Read More
The news leaked over the weekend: Hedge-fund baron Steve Cohen and SAC Capital Advisors were about to pay a monster fine for a decades worth of insider trading and failed supervision of traders. Some prefer the term “expert networks,” but – po-TAY-to, po-TAH-to. The rules have changed, and so have the penalties. The lessons of…Read More
You May Think You Have Nothing to Hide … But You Are Still Breaking Laws Which Government Spying Could Discover and Use Against You You Break the Law Every Day … Without Even Knowing It Wired notes: James Duane, a professor at Regent Law School and former defense attorney, notes in his excellent lecture on…Read More