Thursday, March 7, 2013

US Attorney General Holder: Financial Institutions "So Large" as to Make it "Difficult For Us To Prosecute Them"

[Excerpted] Holder’s admission bolsters criticisms that federal prosecutors are deeming some banks “too big to jail,” a charge that lawmakers and consumer advocates have routinely made in the wake of recent bank settlements. Although the government has issued record multimillion-dollar fines in these cases, critics say without criminal charges, the agreements amount to a slap on the wrist...

...“It does become difficult for us to prosecute when we are hit with indications that if we do . . . bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy,” he said. “It has an inhibiting influence, impact on our ability to bring resolutions that I think would be more appropriate.... [end]

 Majia here: The solution is to use anti-trust laws to break up the too-big-to-fails!

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