BREAKING: Wall Street Is a Sinkhole of Corruption and Fraud

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The New York Times reports on the latest in Wall Street malfeasance:

With evidence mounting that a number of foreign and American banks colluded to alter the price of foreign currencies, the largest and least regulated financial market, prosecutors are aiming to file charges against at least one bank by the end of the year, according to interviews with lawyers briefed on the matter. Ultimately, several banks are expected to plead guilty.

….The charges will most likely focus on traders and their bosses rather than chief executives.

Ha ha ha. That goes without saying. Everyone knows that the CEOs of big banks know absolutely nothing about what’s actually going on in their banks.

In any case, I think we might all have an easier time from now on if we wrote stories explaining which areas of banking aren’t under investigation for collusion and gobsmacking levels of fraud and corruption. You know, just to save time.

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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