Why big banks LOVE paying fines to the US government


Why big banks LOVE paying fines to the US government

The $2bn fine Deutsche Bank happily paid to the Federal Reserve for breaking the law was the equivalent of a motorist paying a $150 speeding ticket – no big deal.

When Volkswagen executives found out that United States regulations would kill off one of their diesel models, they pulled some tricks to fool them by installing software that misrepresented the emissions their vehicles released.

But the US found out and arrested several VW executives – one of whom was sentenced in late 2017 to seven years in prison for his role.

How does the US government respond when a business directly victimises hundreds, thousands, or tens of thousands of its own customers? Look no further than banker Wells Fargo, which has repeatedly screwed its customers, yet not a single executive has gone to prison.

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