Friday, November 14, 2014

Banks pay fines, but nobody goes to jail

I posted on this before. The Department of Justice was prosecuting banks for rigging the foreign exchange markets, and now banks agreed to pay fines, more than a billion for Citigroup and J.P. Morgan-Chase.
Fines now have exceeded 200 billion as a result of illegal activities, but nobody yet went to jail. Impunity persists. Full story here.

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Functional Finance, MMT and Blanchard's Presidential Address

So Olivier Blanchard gave the AEA presidential address at the Atlanta meetings earlier this year. If you missed it you can watch it here . ...