The Nov. 13 headline, “Banks fined $4.3 billion in currency schemes,” really caught my eye. I thought, “Now we’re getting somewhere. Someone is being held accountable for their crimes.”

Further reading, however, revealed a great disappointment. The article never informed this reader of the amount of cash these deceitful money managers actually got through their illegal manipulations. As far as anyone might know, these crooks could have taken $400 billion.

If this is so, then, a $4.3 billion fine seems to be hardly a deterrent from future illegal activity. Not one person spent even one night in jail.

The penalties imposed by the financial regulators would be tantamount to someone robbing a bank of $100,000, getting caught and having to pay a $1,000 fine and not even one day in jail. C’mon, do you really think this guy is going to stop robbing banks?

It must be true that the best way to rob a bank is to own one.

Peter P. Sirois


Only subscribers are eligible to post comments. Please subscribe or login to participate in the conversation. Here’s why.

Use the form below to reset your password. When you've submitted your account email, we will send an email with a reset code.