Banks Plead Guilty to Criminal Charges but Business Goes on as Usual

Five banks pleaded guilty to criminal charges related interest rate manipulation on Wednesday.  This is literally admitting guilt of a felony.  But no one is going to jail.  In fact, the banks are simply paying a combined fine of roughly $5 billion that is funded from funds that would otherwise go to shareholders.  And unlike most felons, the banks are allowed to carry on business as usual thanks to a special waiver from the SEC.  And the Market reaction? – This seems to just be the price of doing business.

Read more here from Business Insider.