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View Diary: Organized LIbor: Banksters Rip Off The World (31 comments)

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  •  Yes it's still illegal, for example. (0+ / 0-)

    Government Sachs CEO Blankfeind punches a child in the face, breaking her jaw and breaking the LAW.

    1. He has committed assault, a criminal offense where a prosecutor has discretion to prosecute or NOT prosecute for criminal assault.

    2. He may be civilly liable for the child's medical bills from the assault.

    1 and 2 are not dependent on each other given different standards (beyond reasonable doubt vs. preponderance of the evidence) but both are only possible if Blankfeind broke the law or did something Illegal.

    So DOJ has discretion for whether or not to make a criminal charge against Barclays but they have, indeed, exacted a penalty for Criminal/Illegal conduct - in the amount of $160 million.

    The CFTC has exacted a penalty of $200 million.

    Remember these are corporations not people but the DOJ may prosecute executives in the future under criminal law.

    Nothing is "in the way" except their will to do so.

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