U.S. close to bringing criminal charg...

U.S. close to bringing criminal charges against big banks

There are 2 comments on the The Globe and Mail story from Apr 29, 2014, titled U.S. close to bringing criminal charges against big banks. In it, The Globe and Mail reports that:

Federal prosecutors are nearing criminal charges against some of the world's biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades.

Join the discussion below, or Read more at The Globe and Mail.

No point

Piscataway, NJ

#1 May 1, 2014
What, really, is the point behind charging corporations with anything? Any fines will simply be a "cost" that gets absorbed by the share holders - the folks who had nothing to do with the wrongdoing in the first place!

Until the individuals who lead these companies (CEO, CFO) are personally held accountable, nothing will change. To date, what has been the personal "cost" to CEOs of banks that have paid huge fines? JP Morgan Chase's Jamie Dimon just got a huge bonus, for christ sake - after his bank paid one of the largest fines in history.

I just heard a sobering statistic on NPR yesterday: how many individuals got convicted for wrong doing in the largest financial disaster ever in the world? ONE! And it was some low-ranking white color worker!

Since: Nov 13

Sydney, Australia

#2 May 2, 2014
What about bringing criminal charges against eBay?

eBay-Facilitated Fraud is endemic on eBay "nominal-start" auctions ...

If you try to buy anything at a “nominal-start” auction on any eBay website, you need to take great care ...

Shill bidding fraud by professional sellers on eBay “nominal-start” auctions is demonstrably endemic; where you see bidders bidding early and often on such auctions they will most likely be sellers' shills, and eBay Inc. is the greatest calculated facilitator of such fraud on consumers that the world is ever likely to know - also demonstrably - and only the most naïve will believe that there will not be a trickle down effect of like criminal activity to other eBay operations ...

The ugly reality of eBay Inc.:
eBay's crooked auctions marketplace ... http://bit.ly/11F2eas
eBay Motors (UK sampling): Auction Fraud Galore ... http://bit.ly/I2gTEU
Barclays Bank–eBay/Gumtree Motors Scams … http://bit.ly/1c9Uwck
eBay's clunky, unprincipled "PreyPal" ... http://bit.ly/UVXx53
The ongoing joke of eBay Inc.... http://bit.ly/YvxFEg
Fun quotes from the eBay executive suite ... http://bit.ly/12xvzyA

Having now further anonymised buyers’ IDs in its Feedback Forum, the only thing that surprises me about, this lazy, greedy, utterly unscrupulous, criminal operator, eBay, is that they have not yet summoned up the gall to even further obscure all this endemic shill bidding fraud—that it knowingly facilitates—by converting its auctions wholly to its optional, devious, seller-selected, "private listing" format, or by changing bidding IDs to "Bidder 1", "Bidder 2", "Bidder 3", etc, as they initially were going to do/did when Johnny Ho first introduced the additional layer of anonymity for (shill) bidders in 2008, nor have they yet ceased to publish the details of "completed" listings, a post-sale analysis of which, with some effort, can clearly demonstrate this endemic fraud, and eBay's calculated facilitation thereof, on the consumers of the world ...

eBay Inc, where the incompetent mingle with the malevolent and the criminal … http://bit.ly/11F2eas

And what does the "smart money" on Wall Street think about eBay? Well, in August 2007, prior to the GFC, when the "Pain From Bain" was already effectively in control of eBay, the share prices of eBay and Amazon were both ~$40; with eBay recently ~$52 and Amazon ~$299, clearly, Wall Street still considers eBay to be a "dog", and Johnny Ho to be a very poor dog handler ...

One has to wonder if Mr Omidyar has ever thought about just how much more fabulously wealthy he might now have been had he not ok'd the handing over of the control of eBay to the delusional, destructive, incompetent, unscrupulous, narcissistic, sociopathic Johnny Ho? Indeed, had he, in August 2007, traded in only the ~108 million eBay shares, that he still holds today, for shares in Amazon, instead of ~$6 billion, his worth would now have been ~$32 billion! Now that, surely, is something for all of eBay's long-suffering "long" investors to think about, is it not?...

eBay Inc, where the incompetent mingle with the malevolent and the criminal … http://bit.ly/11F2eas

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