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Citigroup and Bank of America: Too Big To Punish


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#1 WorkingPoor

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Posted 19 February 2012 - 03:44 AM

Sticking it to Uncle Sam should attract harsh punishment. But the fines  Citigroup and Bank of America will pay - $158 million and $1 billion  respectively - to settle claims they defrauded the U.S. government look  easily handled. Citi has even admitted fraud in its dealings over home  loan insurance. A ban from participating in the government’s mortgage  insurance programs would be a better deterrent.

But unfortunately, Washington needs big banks too much.

http://www.slate.com..._to_punish.html






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