Does BNP's $9B Fine Bail Out Individual Wrongdoing?

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July 1 (Bloomberg) -- Graham Fisher's Joshua Rosner and former federal prosecutor Douglas Burns discuss the $8.97 billion penalty BNP Paribas agreed to pay for violating U.S. sanctions and the consequences for the banking industry. They speak with Trish Regan on "Street Smart." (Source: Bloomberg)

Leveled against these banks.

It's a big number.

But it's much smaller than almost any of the others we have seen.

To some degree this is telegraphed.

It's one of the least well cap secrets -- well-kept secret in history.

Even in terms of what the company's businesses do going forward, they will still be able to do it through third parties.

If i'm the fed right now, i don't know.

They came to $9 billion and the stock is up.

It was pretty straightforward.

There were transactions being hit involving sudan and it ran.

I think the point is valid that they could have gotten it but at the same time, a $9 billion fund is a lot.

The other troubling aspect is everyone scratching their head saying are they really paying their way out of bigger problems?

Say that again?

To avoid individual -- that is what is in the room.

The thing we've talked about in the past is at the end of the day, fewer senior executive is negotiating the deal, you have to wonder whether they are protecting themselves or shareholders issues.

You have to wonder whether the money is effective a deterrent against behavior as replacing senior executives would be.

That's an interesting question.

A lot of executives are required to leave.

At the end of the day, what happened to the buck stops here?

This is a game that lately has been play a lot -- hsbc -- they are all foreign.

Do you think the feds are going after the foreign banks?

The president of france trying to interact with president obama.

Which is really problematic.

We have not solved too big to fail.

These companies have clinical muscle and we've got a head of state trying to reach out to another head of state to interfere with something that has nothing to do with politics to change an outcome.

That was shocking.

It's france.

It was a tour de france -- toward a -- tour de fraud.

If you look at the fine relative to the infractions and way that to how compelling it was, remember jpmorgan had to settle for violations and the dollar figure relative to what their fine was for the violations were much smaller.

This text has been automatically generated. It may not be 100% accurate.


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