Too Smug to Jail

[DonCoquixote]

http://www.rollingstone.com/politics/features/too-smug-to-jail-w447825

From the Article:


"The magazine decries the backlash against banks after 2008 as irrational populism. It also praises prosecutors for not bringing cases against firms for things like selling faulty mortgage-backed securities, which are described as "perfectly legal (if unwise)."
But this just isn't true. Most of the Wall Street scams that triggered what The Economist would decry as "populist" outrage in recent years weren't just morally despicable, but bluntly illegal. Many were just skyscraper-level versions of street crimes.
A Mexican-American racetrack owner launders perhaps tens of millions for Mexican drug gangs and gets 20 years. HSBC does the same thing on a much grander scale and everyone walks."