Thursday, November 10, 2011

Banks promise to never, never, never do it again. Right

If you wonder if Occupy Wall Street protestors have something to protest then you may find this NY Times article interesting. After committing financial crimes such as fraud, malefactors of great wealth on Wall Street normally are required by the SEC to pay a fine and agree to never do it again. The article below describes how well that strategy has been working out.
http://www.nytimes.com/2011/11/08/business/in-sec-fraud-cases-banks-make-and-break-promises.html?_r=1&scp=1&sq=promises%20made&st=cse

PS: For extra credit, who popularized the term malefactors of great wealth?

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