Too Big to Jail

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Michael Corleone Goes Corporate

Because today's gangsters are on Wall Street

(Newser) - The capos in the room were stunned. Had he really just said that? He had. "We're gonna incorporate," Michael Corleone declared, in a pretty weird conversation, as conjured up by Richard Cohen at the Washington Post . "The Godfather is dead. So is his way of doing... More »

Why Aren't We Prosecuting Singing S&P Fraudsters?

William Greider wonders if this is Obama's Watergate

(Newser) - The Justice Department's lawsuit against Standard and Poor's looks pretty damning. According to the suit, S&P knew its ratings on mortgage bonds were too loose, proposed upgrading them in 2004—and then decided not to because it would hurt the bottom line, Fortune explains. The suit makes... More »

Obama Declares Big Banks Too Big to Jail

Decision not to prosecute bank's money laundering sparks outrage

(Newser) - The Obama administration officially bought into the idea that big banks are "too big to jail" yesterday, by deciding to fine HSBC instead of criminally prosecuting its vast money laundering operation—which funneled cash to Mexican drug cartels and Saudi banks with ties to al-Qaeda. The stated reason? The... More »

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