They did pay fines of Billions of dollars. Fines are good, jail is much much much better!
A better question to ask is why they did not go to jail for criminal activity? This answer is also quite easy, they own the politicians be they Democrat, Republican, Tory, Labor, etc.
They are the elite and the enemy!
I am a capitalist and not a left winger. What has happened in our banking industry is not capitalism but corruption of government and crony capitalism.
When it all went to hell the taxpayer paid, and the elites of business and politics still flew in the back of Gulf stream Jets ner to mix with the common rabble of commercial aviation. It would be beneath their dignity you know.
So what did the US govt do w/ all the fines? Read on.
Let me begin by saying, IMHO, Hillary screwed-up bigtime when she stupidly said about the sub-prime mtge crisis to score political points: "Donald laughed at people losing their homes."
Fact is---people lost their homes and Obama and the Democrats colluded, extorted tax dollars, and aided and abetted fraud--- to make sure Hillary benefited from the sub-prime mtge crisis.
BACKSTORY---Obama and Congressional Democrats----w/ then-AG Eric Holder----gave NeighborWorks America (formerly ACORN), and blood-thirsty La Raza a huge funding source for 2016 voter fraud......our tax dollars. The colluders extorted banks thru DOJ litigation/bank settlements----and the loot went to nefarious liberal organizations known for voter fraud schemes.
Achieving Obama's dream of a permanent Democrat majority.
<><> Obama/Holder/Dems extorted banks via DOJ litigation/bank settlements----into paying off these nefarious organizations. <><>
DOJ went after CitiCorp and ordered them to pay $50 million to La Raza and NeighborWorks America as part of the settlement.
Another clause in the agreement makes it possible for La Raza and NeighborWorks America to rake in even larger amounts of money.
Of the remaining money the banks needed to pay in settlements, the banks were able to contribute additional money to La Raza and NeighborWorks America. For every dollar they contribute, it reduces their debt to the government by 2 dollars. Thats some mighty powerful incentive to give generously.
House Judiciary Committee Chairman Bob Goodlatte (R-Va.) and House Financial Services Chairman Jeb Hensarling have questioned why this money was sent to the ACORN clone and the blood-thirsty LaRaza----rather than to the alleged victims of the banks crime. The administration of course declined to answer.
Here's part of the Congressmen's letter to Holder: It seems that the alleged victims are not the primary beneficiaries of these multi-billion dollar settlements. Instead, the terms in the Justice Departments two latest settlements look less like consumer relief and more like a scheme to funnel money to politically favored special interest groups.
This makes donations to activist groups far more attractive to banks than providing direct relief to injured consumers. As a result, the settlements appear to serve as a vehicle for funding activist groups rather than as a means of securing relief for consumers actually harmed.
So now, with tons of money to fix the presidential election, the largest and most successful voter fraud campaign may alter the course of the elections not to mention the future of the United States.
NO WONDER HILLARY KEEPS SMILING.
According to the Federal Financial Institutions Examination Council---financial schemes by low-income housing groups, Hispanic lawmakers on Capitol Hill, including a congressional Hispanic housing initiative, subprime mortgage lenders and brokers, colluded together in fraudulent schemes to increase homeownership among Latinos using falsified applications, and other tricks of the trade.
The massive mortgage fraud ended in disaster for which no one has been held responsible. Taxpayers got saddled with billions of dollars in bailout bills.
These subprime activities were not simply the mortgage market at work. They were fueled by avarice, greed, stupidity--all enabled by Congressmen and other groups which leave a trail at the door of then-Cong Joe Baca (D-Cali).
Between 2000 and 2009, Hispanic populations increased; but Hispanic home ownership grew even faster, increasing by 47%, to 6.1 million from 4.1 million, according to the US Census Bureau. Over that same period, homeownership nationally grew by an enemic 8%. In 2005 alone, mortgages to Hispanics jumped by 29%; Latinos with multiple fraudulent identities in low- paying jobs obtained costly non-prime mortgages--- soaring to a shocking 169%, (Research provided by Wall Street Journal)
The subprime mortgage bank fraud network was spearheaded by then-Cong Joe Baca (D-Calif 43rd), in his powerful position as chairman of the Congressional Hispanic Caucus. Baca's district ranks No.5 among all US Congressional districts in percentage of home loans tailored to sub-prime borrowers.
Baca used his the legislative power of his office and his leadership position in the Congressional Hispanic Caucus to calculatedly launch a housing initiative called "HOGAR"-- Spanish for home.
CONSPIRACY AND COLLUSION---The Congressuial Hispanic caucuss has been quiet about its role in financing, and, earmarking, the blood-thirsty America- hating La Raza. race-based "La Raza" was given tax dollars and Congressionsl earmarks to finance its so-valled mortgage activities. La Raza's "strategic partnerships with Wachovia and Bank of America forced the fraudulent mortgage-application requirements and documentation standards.......whuch caused taxpayers to be socked w/ billions in bailouts......decimating the US economy. economy.
La Raza aided and abetted risky federal and private-home loans to latinos over the last decade. thanks to the lending industrys version of dont ask, dont tell.
In addition to millions of federal tax dollars, La Raza also collected a $1 million Democratic earmark that funded community-development projects. Analysts report that much of it went to "mortgage counseling." (cue laugh machine)