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View Diary: Citigroup in Violation of Money Laundering Laws - No Problemma (9 comments)

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  •  I think this part is key: (2+ / 0-)
    Recommended by:
    Lisa Lockwood, allenjo
    failing to comply with a federal law that requires banks to establish protections against money-laundering
    It seems they were in violation of a law that requires banks to establish protections.  If they didn't establish protections, then they broke the law.  And now, after two other regulating agencies found the same thing last year, the Fed is giving them time to come up with a plan for such protections so they are no longer breaking the law.  At least that's how I read it: they have been and are breaking the law, there is no fine and they get to fix it.

    The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

    by accumbens on Tue Mar 26, 2013 at 10:00:46 AM PDT

    [ Parent ]

    •  Crime and Punishment in the US - 2 words that (1+ / 0-)
      Recommended by:
      accumbens

      do not go well together in the 2 tier justice system of the US that exists now.

      they have been and are breaking the law, there is no fine and they get to fix it.

      "Who are these men who really run this land? And why do they run it with such a thoughtless hand?" David Crosby

      by allenjo on Tue Mar 26, 2013 at 12:05:20 PM PDT

      [ Parent ]

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