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
Citigroup and Bank of America: Too Big To Punish
Started by WorkingPoor, Feb 19 2012 03:44 AM
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