The Justice Department refusal to criminally prosecute banksters is little more than a protection scheme. The banks pay stiff fines and promise to sin no more, no one goes to prison, and the banks continue breaking the law
A jury found a Bank of America unit and executive liable for mortgage fraud. You might think $165 million of fraud would put someone in prison, but you’d be wrong.
JPMorgan will pay the government $13 billion for misleading mortgage practices but again, Justice is doing nothing tacky like filing criminal charges against those responsible. It’s just so much easier to fill the coffers with the bankster’s ill-gotten gains instead, something which is also known as bribery. If they went to prison and the criminality stopped, then there would be no more government income from the fines. And they can’t be letting that happen.