Too Big to Fail…
…is alive and well.
[U]From [I]Forex Magnates[/I][/U] —
"While there is a growing likelihood that leading global financial institutions will be forced to put reserves aside for handling the already escalated legal costs related to fraudulent FX market conduct, [B]the likelihood of a major criminal probe against an institution is very slim.[/B]
[B]"Such an event equals the demise of a company[/B] and since almost all financial institutions being targeted in these investigations are systemically important, a court decision can wreak havoc across the financial markets – a political cost too high to be paid by the governments.
“Charges may be filed, but the strong hand of justice is not likely to prevail (for now). Financial penalty is much more efficient in addressing such cases and in order to keep paying those, [B]major financial institutions won’t get incriminated.”[/B]
CFTC Transfers Alleged Criminal Rate Rigging to the US Department of Justice | Forex Magnates