they lied. they cheated. they tanked economies. they cost societies gazillions of dollars. they wrecked lives.
and they get slapped with a fine and a plea to a single count
of wire fraud. martha stewart served more time in jail than these
banksters. oh, hell...paris hilton has spent more time in jail than
these banksters.ubs, the swiss banking giant, announced a record settlement with global authorities on wednesday, agreeing to a combined $1.5 billion in fines for its role in a multiyear scheme to manipulate interest rates.
in a sign that officials are increasingly taking a hard line against financial wrongdoing, the justice department also secured a guilty plea from the bank’s japanese subsidiary, sending a warning shot to other big banks suspected of rate rigging. the ubs subsidiary, which agreed to plead to a single count of wire fraud, is the first unit of a big bank to agree to criminal charges in more than a decade
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