Bloomberg reports the following.
Federal Reserve Vice Chairman Stanley Fischer said bankers who have engaged in wrongdoing should be punished, and he chided the industry for pushing back against financial regulations adopted to prevent another conflagration.
“Individuals should be punished for any misconduct they personally engaged in,” Fischer said in a speech to bankers Monday in Toronto.
Well then... if a Fed vice chairman says bankers should be punished for, you know, "crimes" then so be it.
Which in retrospect seems a little odd: why would anyone, let alone the second most important person on the planet, feel the need to state something that, for every other human being is self-evident?
Which reminds us, just how many of the market's caught-red-handed criminal manipulators have gone to jail?