Too Big to Jail: DOJ Charge Two Banks with Criminal Acts, But Not Hold Them Criminally Accountable
In a recent breathlessly written "we have the inside scoop" article, The New York Times would have you believe that the Department of Justice (DOJ) is finally getting serious about filing criminal charges against a couple of banks.
Technically, the Times may prove to be right, but on a practical level, the actions it is predicting would be more of the same kid-glove treatment of too-big-to-fail banks we’ve seen in the past. As BuzzFlash at Truthout noted in commentaries last year, Attorney General Holder has officially stated his concern that prosecuting the largest banks would have adverse affects on our economy. As The New York Times reports about the possibility of looming criminal charges against two foreign banks (emphasis on foreign - Credit Suisse and BNP Paribas, not US):
Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades.
In doing so, prosecutors are confronting the popular belief that Wall Street institutions have grown so important to the economy that they cannot be charged. A lack of criminal prosecutions of banks and their leaders fueled a public outcry over the perception that Wall Street giants are “too big to jail.”
http://www.truth-out.org/buzzflash/commentary/too-big-to-jail-continues-doj-may-charge-two-banks-with-criminal-acts-but-not-hold-them-criminally-accountable
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Yeah right, I call BS ...
