News As 2015 draws to an end lets take a look at Corporate crime this year

Discussion in 'The Howard Stern Show' started by dawg, Dec 25, 2015.

  1. dawg

    dawg In The Dog House Staff Member

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    The ongoing corporate crime wave showed no signs of abating in 2015. BP paid a record $20 billion to settle the remaining civil charges relating to the Deepwater Horizon disaster (on top of the $4 billion in previous criminal penalties), and Volkswagen is facing perhaps even greater liability in connection with its scheme to evade emission standards.

    Other automakers and suppliers were hit with large penalties for safety violations, including a $900 million fine (and deferred criminal prosecution) for General Motors, a record civil penalty of $200 million for Japanese airbag maker Takata, penalties of $105 million and $70 million for Fiat Chrysler, and $70 million for Honda.

    Major banks continued to pay large penalties to resolve a variety of legal entanglements. Five banks (Citigroup, JPMorgan Chase, Barclays, Royal Bank of Scotland and UBS) had to pay a total of $2.5 billion to the Justice Department and $1.8 billion to the Federal Reserve in connection with charges that they conspired to manipulate foreign exchange markets. The DOJ case was unusual in that the banks had to enter guilty pleas, but it is unclear that this hampered their ability to conduct business as usual.

    Anadarko Petroleum agreed to pay more than $5 billion to resolve charges relating to toxic dumping by Kerr-McGee, which was acquired by Anadarko in 2006. In another major environmental case, fertilizer company Mosaic agreed to resolve hazardous waste allegations at eight facilities by creating a $630 million trust fund and spending $170 million on mitigation projects.

    These examples and the additional ones below were assembled with the help of Violation Tracker, the new database of corporate misconduct my colleagues and I at the Corporate Research Project of Good Jobs First introduced this year. The database currently covers environmental, health and safety cases from 13 federal agencies, but we will be adding other violation categories in 2016.

    1. Deceptive financial practices. The Consumer Financial Protection Bureau fined Citibank $700 million for the deceptive marketing of credit card add-on products.

    2. Cheating depositors. Citizens Bank was fined $18.5 million by the CFPB for pocketing the difference when customers mistakenly filled out deposit slips for amounts lower than the sums actually transferred.

    3. Overcharging customers. An investigation by officials in New York City found that pre-packaged products at Whole Foods had mislabeled weights, resulting in grossly inflated unit prices.

    4. Food contamination. In a rare financial penalty in a food safety case, a subsidiary of ConAgra was fined $11.2 million for distributing salmonella-tainted peanut butter.

    5. Adulterated medication. Johnson & Johnson subsidiary McNeill-PPC entered a guilty plea and paid $25 million in fines and forfeiture in connection with charges that it sold adulterated children’s over-the-counter medications.

    6. Illegal marketing. Sanofi subsidiary Genzyme Corporation entered into a deferred prosecution agreement and paid a penalty of $32.6 million in connection with charges that it promoted its Seprafilm devices for uses not approved as safe by the Food and Drug Administration.

    7. Failure to report safety defects. Among the companies hit this year with civil penalties by the Consumer Product Safety Commission for failing to promptly report safety hazards were: General Electric ($3.5 million fine), Office Depot ($3.4 million) and LG Electronics ($1.8 million).

    8. Workplace hazards. Tuna producer Bumble Bee agreed to pay $6 million to settle state charges that it willfully violated worker safety rules in connection with the death of an employee who was trapped in an industrial oven at the company’s plant in Southern California.

    9. Sanctions violations. Deutsche Bank was fined $258 million for violations in connection with transactions on behalf of countries (such as Iran and Syria) and entities subject to U.S. economic sanctions.

    10. Air pollution. Glass manufacturer Guardian Industries settled Clean Air Act violations brought by the EPA by agreeing to spend $70 millionon new emission controls.

    11. Ocean dumping. An Italian company called Carbofin was hit with a $2.75 million criminal fine for falsifying its records to hide the fact that it was using a device known as a “magic hose” to dispose of sludge, waste oil and oil-contaminated bilge water directly into the sea rather than using required pollution prevention equipment.

    12. Climate denial. The New York Attorney General is investigatingwhether Exxon Mobil deliberately deceived shareholders and the public about the risks of climate change.

    13. False claims. Millennium Health agreed to pay $256 million to resolve allegations that it billed Medicare, Medicaid and other federal health programs for unnecessary tests.

    14. Illegal lobbying. Lockheed Martin paid $4.7 million to settle charges that it illegally used government money to lobby federal officials for an extension of its contract to run the Sandia nuclear weapons lab.

    15. Price-fixing. German auto parts maker Robert Bosch was fined $57.8 million after pleading guilty to Justice Department charges of conspiring to fix prices and rig bids for spark plugs, oxygen sensors and starter motors sold to automakers in the United States and elsewhere.

    16. Foreign bribery. Goodyear Tire & Rubber paid $16 million to resolve Securities and Exchange Commission allegations that company subsidiaries paid bribes to obtain sales in Kenya and Angola.

    17. Wage Theft. Oilfield services company Halliburton paid $18 million to resolve Labor Department allegations that it improperly categorized more than 1,000 workers to deny them overtime pay.
     
  2. LawyerLarry

    LawyerLarry Mr. Fuckmoney in the Bank VIP

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  3. Shortwave98

    Shortwave98 A-Number 1 Banned User

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  4. Rabid Dogman

    Rabid Dogman Well-Known Member

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    I agree that there are a lot of egregious violations on that list, but some of them like the Volkswagen, Guardian Industries (#10), and ExxonMobil (#12) sound more like government regulations run amok than corporation irresponsibility.
     
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  5. HowieHasBeen

    HowieHasBeen VIP Extreme Gold

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    Yep. Evil corporations. Lets have the government take over because we all know how honest the gov't will be running the show. :suicide:
     
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  6. stanggirl

    stanggirl There's no replacement for displacement VIP

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    I don't think the OP is saying that
     
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  7. IowaHawks

    IowaHawks Member

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    Don't pay any attention to the Corporate Criminals behind the curtain screwing us for millions/ billions....instead focus your hate and anger on the poor black or brown person and their $20 petty crime!
     
  8. hugh jasol

    hugh jasol white trash on dope Gold

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    Personally, as far as i know, none of those corporation tried to rob me at gun point, tried to make me feel bad for being born white or blocked traffic keeping me from getting home from work at a reasonable time.

    NOT GUILTY
     
  9. AcquiringSignal

    AcquiringSignal Girthy VIP

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    Scary and impacts me personally every day. Or not.
     
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  10. dawg

    dawg In The Dog House Staff Member

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    So you dont have a credit card? A bank account? A car? Buy Gasoline?

    Maybe we should set up a gofundme page to help you out.
     
  11. AcquiringSignal

    AcquiringSignal Girthy VIP

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    Thanks. :beer:
     
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  12. the G-man

    the G-man Well-Known Member

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    You forgot the biggest corporate crime of them all: 112 Inc. raping the fans of the once great Howard Stern show.
     
  13. dawg

    dawg In The Dog House Staff Member

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    That should have been 1 on list, you are correct.
     
  14. mape

    mape Well-Known Member

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    Giving the politicians a run for their money :giggle:
     
  15. bluedevil30

    bluedevil30 Well-Known Member

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    Don't forget the millions of healthy American's who claim they are disabled.
     
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  16. dawg

    dawg In The Dog House Staff Member

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    are you saying that humans are corrupt? Well i'll be damned.
     
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  17. Mike Huntslooce

    Mike Huntslooce Maker of Champions Gold

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    Boo hoo - always the victim.
     
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  18. Willy Pfister

    Willy Pfister VIP Extreme Gold

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    Those free market libertarians and their fancy central bank, federal reserve, fiat currency and cafe standards, bastards!
     
  19. Droog

    Droog Well-Known Member VIP

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    Who's advocating that? :dontknow:

    If you're against corporate criminals, you're for communism? Please. I suppose you want to go back to the good old days of sweat shops and robber barons. When pollution was so bad you couldn't eat the fish caught in Lake Michigan or when it was so bad that the Ohio River fucking burned.
     
  20. Vincenzo69

    Vincenzo69 Well-Known Member

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    Reggie Muzzie plays safety for the New Orleans Saints