09 July 2012

Another Symptom of a Sick Society

On the understandings specified below, the United States Department of Justice, Criminal Division, Fraud Division (“Fraud Section”) will not criminally prosecute Barclays Bank PLC and its parent, subsidiaries and affiliates (collectively “Barclays”) for any crimes (except for criminal tax violations, as to which the Fraud Section cannot and does not make any agreement) related to Barclays’s submissions of benchmark interest rates, including the London InterBank Offered Rate (known as LIBOR) and the Euro Interbank Offered Rate (known as EURIBOR), as described in the attached Appendix A, which is incorporated by reference to this Agreement.
So, a major bank can engage in trade under false pretenses, thereby defrauding people of money rightfully belonging to them and the government won’t bother to prosecute said bank. However, if said bank tries to defraud the government when paying taxes (or, more accurately, by not paying the correct amount of taxes), the government reserves the right to prosecute.  This means, obviously, that the government is being extremely hypocritical in its enforcement of the law.  The government makes sure to protect its interests, but cannot be bothered to look out for the people it claims to represent.

Worse still, there seems to be little outrage among the masses about this.  And if the people will not complain about this sort of government hypocrisy, they will quickly find that they will indeed have the government they so richly deserve.

Thus, it should be obvious that the current hypocrisy that has apparently permeated the federal government coupled with the current apathy that has apparently permeated the American people are both indicative of a sick and dying society.


  1. Aapthy, perhaps. This is the first I am hearing of this though. Go and tell everyone you know about this, that a bank is getting away with fraud. If enough people know that enough banks are getting away with this then maybe they may not be so apathetic. If all your info was controlled by mass media and you didn't know to look elsewhere, than you too would appear to be apathetic.

  2. Hmmm. Yes it appears that the banksters' investment in corruption is paying off.

    I wonder if the Crown's decision to pursue Barclay's has anything to do with it.

    If it were me, I'd pile on anyways, no matter what the Brits did.

  3. @Anon.- I'm not sure mere ignorance explains it. The MSM has at least paid lip service to the story (most major newspapers and news networks have mentioned it). Even if the media are suppressing the story by burying it in the back pages, so to speak, people can still investigate the matter for themselves using the regular back channels. That they refuse to do so belies a lack of intellectual curiosity, of the sort that keeps the government and its big business cronies honest.

    @EW- I had wondered that as well. My initial impression was that the federal government wanted to remain on good terms with Barclays in the event it needed serious money down the road. Mutual back-scratching and all that. I agree, though, that Barclays should be nailed to a cross by all who can make reasonable claims against them.