Too Big To Fail Really Means Too Big To Jail--Financial Predators Have Bought Off Washington
Is ‘too big to fail’ actually ‘too big to jail’?
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Two US senators have recently rediscovered something that has been known for ages: that American banks are immune to prosecution. Even if banks break the law, falsify mortgage claims, organize unlawful evictions, launder money for Mexican drug cartels and rig the LIBOR rate, they only pay some microscopic fines that are treated as a cost of doing business. None of the real decision makers and not a single board member has been prosecuted and jailed for the crimes committed by the banking institutions. Somehow this blatantly unlawful situation has eluded the scrutiny of the US Congress. Maybe it has something to do with the huge money the banks spend on lobbyists?
In a letter send to the US Attorney General Eric Holder, senators Brown and Grassley express their concern regarding the big banks’ immunity from real prosecution:
“The large number of private and government lawsuits since the global financial crisis continues to undermine public confidence in our financial markets. This confidence can only be restored by demonstrating that there are consistent rules in place that provide accountability for wrongdoing and deter financial predators. MOREHERE
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