US Govt Too Easy on Banks

[piasabird]

I think the Federal Govt has been too easy on banks. They fined the banks a little, but what about all the damage they did to the individuals. The charges were they inflated rates. So, the punishment should be retroactively giving people lower rates and making the banks pay everyone back what they stole plus 40% interest like they would charge for a late credit card.

Why should the government get to keep a fine anyway? That should go back to the damaged parties.

http://finance.yahoo.com/news/freddie-mac-sues-big-banks-002548283.html

"If you need some background on LIBOR or the scandal surrounding it, check out our story from last summer. But all you really need to know is that big banks were caught manipulating the rate to their advantage, in many cases for years, forcing millions to pay inflated interest on all kinds of loans, all over the world."

 

[MomentsofSanity]

The fines are essentially a joke. We will penalize you millions for actions that earned you billions. That should teach you a lesson.

Until corporate representatives face harsh prison sentences as any person would, these actions are of little deterrent.

 

[piasabird]

How about a list of all parties that were forced to pay a higher interest rate?