Wednesday, December 22, 2010

Deutsche Bank Admits Criminal Wrong Doing

They pay a fine for an admitted criminal violation, while a hungry American who steals food will go to jail. If the banks can settle their criminal acts through a payoff, what is to make them think twice from future criminal acts?

Deutsche Bank to pay over $550M in fraud probe
Deutsche Bank admitted criminal wrongdoing and agreed to pay more than $550 million in connection with its participation in tax shelters that enabled the rich to temporarily avoid paying hundreds of millions of dollars in U.S. taxes, authorities announced Tuesday.

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