RE:HoneybadgerWell Noble House, to be clear, I don't condone this type of criminal activity whatsoever and would love nothing more than to see these crooks in jail. My point is that TD is a big organization and not unlike JP Morgan can handle a $623 million plus fine and probably a little more if it comes down to that. In organizations of TDs size, there's bound to be some bad apples and as they say, $hit happens! This is not the first fiasco by a big bank and it won't be the last. If TD was some little regional bank in the US, then this kind of share price beat down would be justified but it's not.
Here's a link to the JP Morgan fiasco where they were whacked for $920 million for manipulating the price of gold in 2006-2008.
JPMorgan to pay $920 million for manipulating precious metals, treasury market | Reuters Is JP Morgan bankrupt today? How much profit did JP Morgan make compared to the measly $920 million they paid in fines, restituion, etc?
And the JP Morgan crooks got a whopping 2 years jail time...
JPMorgan’s ‘most prolific spoofer’ gets two years in prison - MINING.COM The real crime here is how the Hedge Funds have no limits when it comes to shorting stocks making millions if not billions on the way down by taking advantage of and capitilizing on retail investor's fear, and then making millions if not billions by later changing the narrative back to positive and going long capitalizing on retail investors FOMO.
I get it NobleHouse, $683 million in fines is a lot of money to an individual but is just a cost of doing business for the likes of TD and JP Morgan who will both still be around and thriving long after you and I have left this planet. Those who panick and sell their TD shares at a loss today will very likely, if history is any guide, regret that once the dust settles. And you can be sure the dust will settle....
HB77