Economics Government

Former Director of US Mint, Edmund Moy, “It’s time banks got competition. Time for cryptocurrencies”

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Corporate America which includes our banking Institutions are out of control, of this there is no doubt. In rare instances like the below article shows how cavalier the uber rich can be and how much money the control when faced with a .4 billion dollar fine.

If left unchecked, where will this Oligarchy lead us? Do you think Cryptocurrencies will bring us out of the mire?

Read the below article for more information.

“Hours after the Obama administration announced the criminal conviction of Credit Suisse on Monday evening, the bank’s chief executive, Brady W. Dougan, publicly reassured Wall Street that the punishment would not do much damage to his firm. The conviction, he said on a conference call, would not cause “any material impact on our operational or business capabilities.”

And in many ways, that was exactly the outcome that the American authorities desired.

The Justice Department and bank regulators had worked hard to find a careful balance. When Credit Suisse pleaded guilty to the crime of aiding tax evasion, prosecutors did not want the action to lead to repercussions that could destabilize the bank or the wider financial system…”

[READ FULL STORY HERE](http://www.cnbc.com/id/101696645)

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“Former Director of US Mint, Edmund Moy, “It’s time banks got competition. Time for cryptocurrencies””