Are banks too big to jail?
If there was any doubt about the answer to that question, Eric H. Holder Jr., the nation’s attorney general, last week blurted out what we’ve all known to be true but few inside the Obama administration have said aloud: Yes, they are.
”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.”
Mr. Holder continued, acknowledging that the size of banks ”has an inhibiting influence.” He said that it affects ”our ability to bring resolutions that I think would be more appropriate.”
Read More at Western Journalism. By Andrew Ross Sorkin.
Photo Credit: The Aspen Institute Creative Commons