Skip to main content

View Diary: Too Big to Jail? (158 comments)

Comment Preferences

  •  Oh, and the best part? (5+ / 0-)

    Now, in the case of future claims, if this isn't prosecuted, they've got at least a loose estoppel claim.  

    (Estoppel is a legal argument wherein you basically say: "Yes, I broke the law as written, but I was following advice from above (from an entity which is entitled to issue such advice, and the US AG certainly is one of those)/from a court that stated that I would not be prosecuted if I did so.")

    Combine that with the (hack, spit) 'fiduciary duty' to their shareholders to maximize profit, and you've told the banks: "Go forth, lie, cheat, steal, launder money, it's OK.  In fact, you've got a 'moral' duty to do so so long as it raises profits for your shareholders after you finish paying off the settlements."

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site