Thursday, February 11, 2016
This is why a communist can run for office
Anyone singing the "Happy Birthday Song" over the past 66 years was forced to pay royalties to the Warner/Chappell music company, who was making an average of about $2 million each year from the royalties for the song.
The company finally admitted in court that they never owned the song and agreed to pay the artists suing them $14 million in a settlement. That's right, they committed fraud that got them over $100 million in profits, and in the end had to only pay out around $14 million to settle the claims.
The banks, who made well over $1 trillion in profits by engaging in illegal mortgage securities fraud and thereby collapsed the US economy, which was followed up by the government bailing them out with ANOTHER trillion dollars, were forced to pay back a mere $13 billion in settlements. Goldman Sachs, who made the whole scheme work by selling the worthless loans as mortgage backed securities, had to pay back a mere $5 billion.
It seems as though companies are committing wholesale fraud and paying pennies on the dollar when they get caught. This is one of the reasons why so many people are so unhappy with our government, and I am betting it is a big reason why Sanders has such a large following.