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Jamie Dimon

How to punish bank felons

How to punish bank felons

What exactly does it mean for a big Wall Street bank to plead guilty to a serious crime? Right now, practically nothing. But it will if California's Santa Cruz County has any say. First, some background. Five giant banks -- including Wall Street behemoths JPMorgan Chase and Citicorp -- recently pleaded guilty to criminal felony charges that they rigged the world's foreign-currency market for their own profit. This wasn't a small heist. We're talking hundreds of billions of dollars worth of transactions every day. The banks altered currency prices long enough for the banks to make winning bets before the prices snapped back to what they should have been. ...