Bwaaaaaaaaaaaah hahahahaha-IMF chief says banks haven't changed since financial crisis
http://www.theguardian.com/business/2014/may/27/imf-chief-lagarde-bankers-ethics-risks<snip>
The head of the International Monetary Fund has warned that a persistent violation of ethics among bankers and rising inequality pose a major threat to growth and financial stability.
Christine Lagarde told an audience in London that six years on from the deep financial crisis that engulfed the global economy, banks were resisting reform and still too focused on excessive risk taking to secure their bonuses at the expense of public trust.
She said: "The behaviour of the financial sector has not changed fundamentally in a number of dimensions since the crisis. While some changes in behaviour are taking place, these are not deep or broad enough. The industry still prizes short-term profit over long-term prudence, today's bonus over tomorrow's relationship.
"Some prominent firms have even been mired in scandals that violate the most basic ethical norms - Libor and foreign exchange rigging, money laundering, illegal foreclosure."
Lagarde warned the too-big-to-fail problem among some of the world's largest financial institutions was still unresolved and remained a major source of systemic risk, with implicit subsidies of $70bn (£42bn) in the US, and up to $300bn in the eurozone.
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Lock them up or STFU!!!
= new reply since forum marked as read
right there. Sadly, until that is the price they pay, it won't matter to them.
"You seem pretty selective when wielding the conflict of interest brand ... especially when just a moment ago, you were quoting the guy that invented the white shoe securities fraud defense industry."
That's your portrayal not mine.. You didn't mention Spitzer.. The banks actually went after him because he was doing his job, apparently he doesn't think Holder is doing his. Carl Levin and current New York Attorney General Eric Schneiderman aren't thrilled with Holder's performance either. Apparently these guys think there is the evidence to prosecute.
Carl Levin said that Schneiderman argued that the Justice Department lacks the “political will” to forge ahead with prosecutions of high-ranking financial executives and large financial groups.
“There's been a real lack of going after the top folks, in general,” Levin said. His subcommittee has aggressively probed potential wrongdoing by leading financial institutions, including alleged money laundering at HSBC and mortgage-related misdeeds at Goldman Sachs.
What is your speculation when it come to "political will". Lucrative job after public service, former client, millions in campaign contributions, all would tend to dampen the "political will" in lesser men than Holder, right? He'd love to prosecute high level banksters if he only had the evidence. I wonder how much the "lack of evidence" is going to be worth when he retires from public service 
Just speculating.
different. But of course "repay their debts on time" is so important in rebuilding our world.
Hilary Clinton addressing this wealthy private equity group confirms her position as one who is opposed to the interests of the middle class Americans. She has always supported the movement of global capitalism and its jobs away from the US, resulting in the destruction of the US middle class. The wealth of the US, 95% of it, is already in the hands of the 5% who profit from global equity firms like the Carlyle Group.
The Carlyle Group is a perfect example of why there are no well paid jobs in America in manufacturing, and why our economy cannot recover. They have moved their businesses out of the US, with Hilary Clinton's total support. Those jobs are not coming back. Without manufacturing jobs, this nation faces a future of low paying jobs and no hope of economic recovery.
Hilary Clinton as guest at their meeting illustrates her uncaring disregard for the future of American citizens.
"JUST BUY MY BOOK!!1!"
Fugg him! 
