If the law doesn't apply equally to everyone, is it a law? Big Banks caught manipulating international currency exchange rates

TSgt Christopher D. — Wed, 20 May 2015 22:04:18 -0400

http://www.foxbusiness.com/industries/2015/05/20/five-major-banks-plead-guilty-to-felony-charges-over-currency-rigging/

Five of the Big Boy banks get caught manipulating currency exchange rates. No real punishment, though. As part of the plea agreement, they can continue in the FOREX business, as long as they dole out $5.8 billion in fines between them. They've been doing it at least since 2007, so do any of you believe they "only" made $1.16 billion each over that 7 year span? I doubt it.

If you or I engage in fraud like that, we're going to be heavily fined and imprisoned. As felons, we will not be able to legally continue in the same industry (think Jordan Belfort of Wolf of Wall Street fame), but the banks? Eh... they're in the club. And as George Carlin informed us, "It's a big club... and you ain't in it."

I get so sick and tired of people talking about law, but doing/saying nothing when the group of people it doesn't apply to is constantly shoved in our faces.

Response by CSM Charles Hayden made May 20 at 2015 10:05 PM

CSM Charles Hayden — Wed, 20 May 2015 22:05:55 -0400

I raised two healthy, honest children; I voted, I served. To what avail!

Response by GySgt Wayne A. Ekblad made May 20 at 2015 10:15 PM

GySgt Wayne A. Ekblad — Wed, 20 May 2015 22:15:51 -0400

No, it isn't. But we are seeing this more and more with everything anymore. There is the law for the rich, famous, etc. and then there is the law for the rest of us. There are the taxes for the rich, famous, etc. and then there are the taxes for the rest of us. Some people will argue that it has always been that way and maybe it has --- but it has certainly become more blatantly obvious here lately.

Response by Capt Mark Strobl made May 20 at 2015 10:44 PM

Capt Mark Strobl — Wed, 20 May 2015 22:44:24 -0400

To quote George Orwell (1984): "Some pigs are created more equally than others."

Response by SGT Donald Croswhite made Dec 21 at 2020 3:14 AM

SGT Donald Croswhite — Mon, 21 Dec 2020 03:14:54 -0500

Boring