Only one low level banker sent to jail (for stupidity) – US Att Gen Eric Holder’s justice for none (video)

The telling sentence in NPR’s report that US attorney general Eric Holder plans to step down once a successor is confirmed came near the end of the story. “Friends and former colleagues say Holder has made no decisions about his …

Payday loans: under-regulated, unethical and deadly (video)

Although we were told that things would be different here, the payday loan industry in the UK has largely followed the unethical business practices of their cousins in the United States.  This means extortionate interest rates, swamping late payers with …

Immorality and Paul Singer’s Elliott Management – they’re called vulture funds for a reason (video)

There are hedge funds operating in every market where underhand amoral spivs can turn a profit.  One of the most profitable and (you guessed it) ethically questionable is the market for so-called “distressed assets”. A distressed asset is a security or other …

The Blackstone and Codere scandal: “just another day on Wall Street” (video)

In the securities industry, much of the multi-trillion dollar trading that occurs in the markets remains un- or under regulated.  One such under regulated market is the trading of Credit Default Swap‘s, the banking industry’s own weapons of mass destruction. …

Corporations are legally defined as people except when they commit a crime (video)

Jon Stewart on the travesty of justice that allows businesses like Johnson & Johnson, Goldman Sachs , HSBC, GSK, Pfizer, and a host of other large corporations to negotiate with regulators to pay fines as their pennance for crimes that they have committed whilst none …

Investment banks & bankers: too big (headed) to jail (video)

John Oliver on the travesty of justice that is banks and bankers negotiating with regulators to pay ‘huge’ fines (in reality no more than a few days worth of sales) for committing financial crimes rather than serving jail time. To add insult …