China has found JPMorgan Chase guilty of corruption and fined the financial institution a staggering $264 million. By demanding that bankers be subject to the same laws as the rest of society, China is opting for a very different strategy to Europe and the US, where banks are only ever fined nominal amounts, and directors and chief executives escape punishment altogether. AnonHQ report: We all know that the 2008 financial crisis was a result of the recklessness of the big banks, especially those in the United States. In Iceland, the government saw the problem and jailed the bankers — with some of the bankers still serving their jail sentences. The economy of Iceland is now thriving, and is one of the best in Europe today. But in the United States, nothing happened to the bankers. The government rather ridiculously went to the rescue of them instead. This essentially made the banks untouchable. Many of these banks are multinationals; carrying out their recklessness in the United States, and in countries where regulations are weak. Even when these banks are caught red-handed engaging in illegal activities, instead of jailing those responsible, the United States only issues a fine, leaving those responsible off [...]
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