{"id":19147,"date":"2016-03-24T19:19:38","date_gmt":"2016-03-25T00:19:38","guid":{"rendered":"http:\/\/olduvai.ca\/?p=19147"},"modified":"2016-03-24T19:19:38","modified_gmt":"2016-03-25T00:19:38","slug":"excellent-interview-a-brief-history-of-corporate-immunity","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=19147","title":{"rendered":"Excellent Interview \u2013 A Brief History of Corporate Immunity"},"content":{"rendered":"<header class=\"post-header \">\n<h3 class=\"post-title\"><a href=\"http:\/\/libertyblitzkrieg.com\/2016\/03\/24\/excellent-interview-a-brief-history-of-corporate-immunity\/\" target=\"_blank\">Excellent Interview \u2013 A Brief History of Corporate Immunity<\/a><\/h3>\n<div class=\"clearfix post-meta post-meta-top\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-32652\" src=\"http:\/\/libertyblitzkrieg.com\/wp-content\/uploads\/2016\/03\/Screen-Shot-2016-03-24-at-9.24.31-AM.jpg\" alt=\"Screen Shot 2016-03-24 at 9.24.31 AM\" width=\"278\" height=\"329\" \/><\/div>\n<\/header>\n<div class=\"post-content\">\n<p><strong><em>Like so many other cases of egregious financial fraud over the past several years, regulators used softball tactics to go easy on the banks. No bank was even forced to admit wrongdoing in the orders by the US\u00a0Commodity Futures Trading Commission\u00a0and the\u00a0Office of the Comptroller of the Currency.\u00a0Regulators avoided court and settled for cash, which the traders won\u2019t pay \u2013 the bank\u2019s shareholders will. Officials presented a minimal amount of evidence, lacking the full details of the traders\u2019 misconduct.\u00a0They sought no judicial review.<\/em><\/strong><\/p>\n<p><strong><em>In short, banks got away with their crimes for a pittance; their stocks even rose on the news of the settlements because the market believes the trouble is over.\u00a0<\/em><\/strong><\/p>\n<p><em><strong>The DoJ has increasingly used a relatively new and declawed method to deal with the aftermath of the financial crisis: the deferred prosecution agreement (DPA).\u00a0<\/strong><\/em><\/p>\n<p><strong><em>No one goes to jail and no one ever gets prosecuted. Under a deferred prosecution agreement,\u00a0the Justice Department allows corporations to pay a fine, then agree to some enhanced supervision and monitoring. The Justice Department appears to admit this in the US Attorney\u2019s manual, when they describe these deals as \u201cagreements not to enforce the law under particular conditions\u201d.<\/em><\/strong><\/p>\n<p><strong><em>Each deferred prosecution agreement is negotiated individually. There is no thought to creating a future record: no trials, no jury verdicts, no appellate court decisions, no case law and no binding precedent.\u00a0This makes it impossible to determine the boundaries of the law. The same conduct can be treated differently, depending on the prosecutor.<\/em><\/strong><\/p>\n<p>\u2013 \u00a0From the post:\u00a0<strong><a href=\"http:\/\/libertyblitzkrieg.com\/2014\/11\/14\/the-u-s-department-of-justice-handles-banker-criminals-like-juvenile-offenders-literally\/\">The U.S. Department of Justice Handles Banker Criminals Like Juvenile Offenders\u2026Literally<\/a><\/strong><\/p>\n<p>Pulitzer-Prize winning journalist Jesse\u00a0Eisinger is currently on leave from his day job as he finishes a\u00a0book about \u201c<em>white collar crime &amp; (non)punishment<\/em>.\u201d He recently sat down with\u00a0<a href=\"https:\/\/promarket.org\/the-united-states-has-lost-the-will-and-ability-to-prosecute-top-corporate-executives\/\"><em>ProMarket\u00a0<\/em><\/a>to discuss some of what he\u2019s learned.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Excellent Interview \u2013 A Brief History of Corporate Immunity Like so many other cases of egregious financial fraud over the past several years, regulators used softball tactics to go easy on the banks. No bank was even forced to admit wrongdoing in the orders by the US\u00a0Commodity Futures Trading Commission\u00a0and the\u00a0Office of the Comptroller of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[13099,3671,6174,13100,6261],"class_list":["post-19147","post","type-post","status-publish","format-standard","hentry","category-liberty","tag-corporate-immunity","tag-eric-holder","tag-michael-krieger","tag-us-cftc","tag-us-department-of-justice"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19147"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19147\/revisions"}],"predecessor-version":[{"id":19148,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19147\/revisions\/19148"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}