2016-04-19sacbee.com

It's now clear from a review of the settlement that Goldman Sachs likely will pay much less in penalties than the Justice Department claims, due to special credits included in the deal and, unbelievably, tax deductions Goldman Sachs will receive for payments it makes under the settlement.

Disturbing as this may be, what's most troubling is that this settlement agreement -- like previous deals between the Justice Department and big financial institutions -- contains no consequences for the executives who drove or condoned wrongdoing. As a result, it will not deter future financial lawbreaking and will further undermine the public's faith in the fairness of our legal system.

... Apparently, if someone lies about 10 mortgage loans, they will face the full force of the law. If someone lies about hundreds of thousands of loans, then they can count on the shareholders of their company to pay their way to exoneration.



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