Hold Wall Street accountable [Letter]

November 26, 2013

The Sun's editorial ("JPMorgan's money is not enough,http://www.baltimoresun.com/news/opinion/editorial/bs-ed-jpmorgan-20131119%2C0%2C276037.story Nov. 19) is on target by saying the "Justice Department should push ahead with its criminal probe of JPMorgan to determine whether certain individuals should be prosecuted for wrongdoing.

Recognizing that the $13 billion fine is significant, it's only two-thirds of JPMorgan's yearly profit of $21 billion and minuscule next to its $2.5 trillion worth. In the financial world, it's become increasingly clear that these fines have become the "cost of doing business." Management is saying basically that it can do what it wants and, if exposed, pay its way out of illegal or unethical practices.

This nefarious activity needs to stop, and it requires holding these executives accountable through criminal action and prison. This is essential to protect our financial system and its integrity, as well as investors and the general public.

Stanley C. Gabor

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