An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Pages
▼
Pages
▼
Wednesday, July 17, 2013
Jeff Cox — No one is too big to jail, Wall Street cop says
No company or individual is too big for prosecution and anyone who thinks they are is making a grave mistake, U.S. Attorney Preet Bharara said.
“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if we do prosecute — if we do bring a criminal charge — it will have a negative impact on the national economy, perhaps even the world economy,” Mr. Holder told the Senate Judiciary Committee. “I think that is a function of the fact that some of these institutions have become too large.”
Hollow words.
ReplyDeleteWell, at some point I expect The System to sacrifice a few of its human components - hopefully in vain.
ReplyDeleteLooks like his boss doesn't feel the same way.
ReplyDeletehttp://dealbook.nytimes.com/2013/03/11/big-banks-go-wrong-but-pay-a-little-price/
“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if we do prosecute — if we do bring a criminal charge — it will have a negative impact on the national economy, perhaps even the world economy,” Mr. Holder told the Senate Judiciary Committee. “I think that is a function of the fact that some of these institutions have become too large.”