WHY are banks Too Big to Fail & Too Big To Jail

There is something much more sinister going on behind the curtain. I have warned that you really are taking your life in your hands doing business in New York City with a bank because NOBODY ever wins against the bankers no matter what they do. This begs the question about why are banks paying huge fines, yet nobody goes to jail, and there is never a trial while class action suits are summarily dismissed? Something is seriously wrong here. To discover the answer, as always, just follow the money!
Back in 2003, Judge Milton Pollack dismissed two class action suits against Merrill Lynch for putting out bogus research during the DOT. COM Bubble after the investment bank plead guilty and paid huge fines. Judge Pollack wrote a 43 page decision protecting banks even when they produce intentional fake research. The judge said that investors were eager to take that risk and were to blame for their own losses. Pollack then dismissed another 25 lawsuits against the bankers. Similarly, another judge dismissed suits against Credit Suisse First Boston, Goldman Sachs, and Morgan Stanley. Why is it impossible to sue the bankers in America where justice is supposed to exist for all?

This post was published at Armstrong Economics on Sep 4, 2017.