Yesterday Attorney General Holder stated openly what was already apparent. The Justice Department believes that Too Big to Fail Banks are Too Big to Jail. Criminal indictments against banks or leading bankers might endanger the economy and thus were too big a risk.
Here’s what Holder 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 you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy,” he said. “And I think that is a function of the fact that some of these institutions have become too large.”