Big Banks Fined $5.7 Billion After Pleading Guilty to Global Currency Conspiracy

Six of the biggest names in global finance shelled out billions of dollars Wednesday to settle charges of rigging currency markets, and all they got were slaps on the wrist.

On Wednesday, the Department of Justice announced that five major banks – Barclays, Royal Bank of Scotland, JPMorgan Chase, UBS and Citigroup – will be fined approximately $5.7 billion after pleading guilty to crimes involving the manipulation of global currencies and interest rates.

Not one of them will go to jail.

“The big banks have been caught red-handed conspiring to manipulate financial markets … but not a single trader is being held individually accountable. That’s not accountability for Wall Street. It’s business as usual, and guess who pays for it? YOU!

Since the financial crisis, nearly every major financial institution has struck some sort of government deal to close probes on a sundry list of wrongdoing, including mortgage servicing flaws, offshore tax evasion and aiding rogue nations like Iran in evading U.S. sanctions.

But while the government has pulled in the largest monetary settlements in history during that time, with several reaching billions of dollars, the continued failure to prosecute high-ranking executives at any of these firms proves YOU are one big sucker for letting this continue to happen.

Yeah, that is your money they are playing with and that is your money they are paying the fines with.

The banking system is rigged and your contributing to their wealth. You’ve been warned.

Are you awake Yet?

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