Wall Street Banks Still Behaving Badly......

$3,300,000,000.00 fines to punish more bad behavior by Wall Street Banks. Even though they promised to behave, and be good corporate citizens, after the US Taxpayers rushed in to bail out all their terrible decisions.

What we now see is the bad behavior continued on. They said new regulations would not be necessary.

See regulations only stand in the way of corruption and fraud. As soon as they could start behaving badly (again) they did.

Try not to look surprises.

http://money.cnn.com/…/…/banks-currency-fx-probe/index.html…

Between 2008 and 2013, lax controls at the banks allowed traders to share confidential information and collude with their counterparts at other institutions in an effort to fix rates and increase profits.

British regulators said traders used private online chatrooms to coordinate their buying and selling to shift currency prices in their favor, aiming to making a profit for their banks at the expense of clients.

The traders called themselves "the players", "the 3 musketeers" and the "the A-team."

The FCA said that the banks had failed to manage obvious risks, and that traders were allowed to behave unacceptably.

It is possible that the banks and individual employees will also face criminal charges (good) in both the U.K. and U.S. over attempts to manipulate the rates.