Summary: Abacus Federal Saving Bank

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Recommended: Case studies of corporate crime

In the Matt Taibi book, discussed how a family owned bank called Abacus Federal Saving Bank got prosecuted for the collapse of the world economy in 2008. However, big companies like Citi Bank, Wells Fargo, Chase never get prosecuted even though they all have been involved in countless scandals in crisis of ‘08. A disester caused by an epidemic of criminal fraud that crashed out 40 percent of the world’s wealth. These banks had been caught selling defective loans that had actualy cost victims huge amounts of money, and nobody from these giant companies was being arrested. These banks had already paid hundreds of millions of dollars in civil settlements for virtually every kind of fraud and manupulation. If the monopoly banks like Citi banks,

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