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And again, we settle for a fine and of course admit no guilt.

That's major problem. Makes it a small cost of doing business. What happened to treble penalties?

Let's assume the regulators did commence applying negative financial penalties. Would that make it "too high" a cost of doing business?

Consider that the penalty only applies to instances that are found, but no other stones are turned over.. and thus no additional penalties. I speculate it is likely they repeated the same offense at least 100 additional times. Considering only one instance results in a penalty, even if trebled, it would not be a deterrent to JPM (GS, Merrill, BAC, C etc) as the practice would still be lucrative, and require no admission of wrong doing, and no indictments, but only hefty profits. Any indictments in this specific case would likely be of politiciancs but not ANY members of the investment bank that initiated the bribery and excessive commissions.

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