The New York Times reports on the latest in Wall Street malfeasance:
With evidence mounting that a number of foreign and American banks colluded to alter the price of foreign currencies, the largest and least regulated financial market, prosecutors are aiming to file charges against at least one bank by the end of the year, according to interviews with lawyers briefed on the matter. Ultimately, several banks are expected to plead guilty.
….The charges will most likely focus on traders and their bosses rather than chief executives.
Ha ha ha. That goes without saying. Everyone knows that the CEOs of big banks know absolutely nothing about what’s actually going on in their banks.
In any case, I think we might all have an easier time from now on if we wrote stories explaining which areas of banking aren’t under investigation for collusion and gobsmacking levels of fraud and corruption. You know, just to save time.