Corporate Crimes

Fines 13 giants have paid out in US since 2000

corporate-crimes-13-fines
Source: Violation Tracker Database, 2018
  • KEY FACT
  • Since 2000, the 13 global financial giants have paid out $46,071,450,274 in fines which is just over 10% of penalties of 327,000 recorded civil and criminal cases.

Crime pays

JP Morgan Chase found guilty in 2013 of selling toxic mortgages that fueled financial crisis

corporate-crimes-fine-reward
Source: Good Jobs First Subsidy Tracker, 2018

“Without a doubt, the conduct uncovered in this investigation helped sow the seeds of the mortgage meltdown.”

– US Attorney General Eric Holder

We paid the cost

The Financial Crisis cost the US economy as much as $22 trillion. As of 2017, US authorities had levied over $150 billion in fines for activities related to the financial crisis.

Financial crisis fines vs cost

UNEMPLOYMENT: the hidden cost of financial crisis

Number of people unemployed

corporate-crimes-unemployment
  • Key Fact
  • From 2008 to 2015, 61 million people across the globe lost their jobs due to the consequences of the financial crisis.
Sources: Cost of FC: Government Accountability Office, 2013 Unemployment: ILO Stat Key Fact: ILO, 2015

“I can assure you if you think Her Majesty’s Government is ever going to prosecute people of my class, you are utterly mistaken. We are a protected species.”

– Unnamed head of UK High Street bank