TD Bank pleads guilty in money laundering case, will pay $3 billion in penalties \ stacker news ~econ

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TD Bank pleads guilty in money laundering case, will pay $3 billion in penalties www.cnbc.com/2024/10/10/td-bank-3-billion-fine-doj-settle-money-laundering-drug-cartel.html

909 sats \ 21 comments \ @siggy47 10 Oct econ

They create the means to enable crimes to be committed, they know it's happening, yet no one will go to jail. Just watch.

By making its services convenient for criminals, TD Bank became one,” said Attorney General Merrick Garland on Thursday.

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89 sats \ 1 reply \ @Golu 10 Oct

I believe Banks are the biggest money launderer. So, no surprises but coming from US is a surprise.

0 sats \ 0 replies \ @nym 10 Oct

I agree with you there.

74 sats \ 0 replies \ @grayruby 10 Oct

Further proof you should never trust Canadians.

69 sats \ 1 reply \ @tony_ 10 Oct

Meanwhile, the U.S. national debt is currently rising at an extraordinary rate, with daily increases of around 35 billion as of October 2024. Given this, it would take less than a day for the national debt to grow by an additional $3 billion—approximately 2 hours and 4 minutes.

So all the work of this case, all the lawyers, and all the productivity, is turned into debt in 2 hours, and 4 minutes.

The national debt, now over $35.7 trillion, is driven by ongoing government spending exceeding revenue, combined with high interest rates on the debt itself.

Keep stackin'

0 sats \ 0 replies \ @siggy47 OP 10 Oct

Good way to put it in perspective.

48 sats \ 0 replies \ @OT 10 Oct

The worst is that most people don't care, or have time to even think about this.

106 sats \ 0 replies \ @TheWildHustle 10 Oct

The cost of doing business

64 sats \ 4 replies \ @Satosora 10 Oct

They will all have golden parachutes. And most of the money will go to lawyers, no offense.

77 sats \ 3 replies \ @siggy47 OP 10 Oct

Damn lawyers are always the problem

63 sats \ 1 reply \ @JesseJames 10 Oct

^^^ This guy knows...lol

0 sats \ 0 replies \ @Satosora 10 Oct

Hence why l put no offense.

0 sats \ 0 replies \ @Satosora 10 Oct

Haha I guess it depends on the deal.

43 sats \ 0 replies \ @SatsMate 11 Oct

Yikes, that is huge! How can this continue to go on, and when will they pierce the corporate veil to hold these evil & corrupt executives accountable?

43 sats \ 0 replies \ @JesseJames 10 Oct

Bankster caught!? What a shame, they didn't pay off the right guy...

43 sats \ 0 replies \ @Rothbardian_fanatic 10 Oct

When do the major white collar criminals ever go to jail. They are only being protected by the state and all of its dirty minions. TD Bank was run by the banksters, and for the criminals. TD used to be an honorable name amongst traders. Why would anyone think a bank’s principles would ever be prosecuted when only the bank would be prosecuted?

43 sats \ 0 replies \ @Manikese 10 Oct

What? Nobody got locked up? Oh, that’s right, they only lock up people if they aren’t part of the banking cartel.