Posted on 03/07/2013 10:04:47 PM PST by Nachum
While it is widely assumed that the too-big-to-fail banks in the US (and elsewhere) are beyond the criminal justice system - based on simple empirical fact - when the Attorney General of the United States openly admits to the fact that he is "concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them," since, "it will have a negative impact on the national economy, perhaps even the world economy," one has to stare open-mouthed at the state of our union. It appears, just as the proletariat assumed, that too-big-to-fail banks are indeed too-big-to-jail.
GRASSLEY: On the issue of bank prosecution, I'm concerned that we have a mentality of too-big-to-jail in the financial sector of spreading from fraud cases to terrorist financing and money laundering cases -- and I cite HSBC. So I think we're on a slippery slope.
HOLDER: The concern that you have raised is one that I, frankly, share. And I'm not talking about HSBC now. That (inaudible) be appropriate.
But 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. And I think that is a function of the fact that some of these institutions have become too large.
(Excerpt) Read more at zerohedge.com ...
‘Too big to prosecute.’
Yeah, like John Corzine.
On the issue of bank prosecution, I’m concerned that we have a mentality of too-big-to-jail in the financial sector of spreading from fraud cases to terrorist financing and money laundering cases — and I cite HSBC. So I think we’re on a slippery slope.
Fine, bust them up or revoke their incorporation. Our country can’t afford to have anyone who is above the law.
My first thought when I saw the headline!
We have not had ‘equal’ protection in decades. Or how do you explain rangel income tax evasion $1 M still in the House of Rep, and poor Wesley Snipes sits in fed prison. Rep weiner sent nudie photos to under age girls, we give him $35k + Platinum healthcare for life, you would be in jail if you did the same thing...
NO EQUALITY, we are back to where we where when we fought the Revolution against the Brits. Lords and Masters and peon/serfs/slaves that is us.
They do. The IRS hires more and more agents to go after waitresses. SEC to go after banks, not so much.
The banks have the power to destroy the administration.
Putting politics aside, a contract can be let to eliminate them as in poof....... you are gone.
Somebody tell this dipstick, that you don’t prosecute the bank you prosecute the persons who run it.
Oh I forgot, they send money to Obama’s campaign.
You’re right...all the pretending stopped after the last election.
Obama has had four years to break up these “to big to fail” banks so that what happened in 2008 wouldn’t happen again. Today these banks are even bigger than they were four years ago. Another epic fail.
Obama has prosecuted exactly zero wall steeet criminals.
Equal protection under the law has become an oxymoron these days...so yes you are right. This was an idea that was right but has now been debunked by our own lawmakers.
It has become much more racist which of course is by definition means that it is against others that are not of that race. Our Constitution states equality for everyone (not outcome) but when government makes special laws for race, or other special group, they are indeed going against the Constitution and those laws are wrong!
There were reasons for racial preferences 40-50 years ago but they have long expired. The problem is that when laws are passed, they rarely ever go away - just like their other programs. It is actually much harder to get rid of preference laws than others because of the thought of injustice if they were to revoke them. As such, we are blessed with an ever increasing number of laws that favor groups and races which will never be revoked. Actually that seems to be the case for many other subjects. Laws once passed rarely get changed!
It will eventually fall on itself but not until things get so out of hand that it causes major problems in society. That is just the way our Government seems to work these days. When you continue to elect the same politicians without regard to what is going on in Washington...well, you will reap the results - almost always not good.
Now that I’ve gone full circle here - Term Limits are the only solution to our problem at this time. If you want folks that have to money in the re-election game, and want them to do what is actually right for both their State and the Country, quit re-electing the same old politicians.
Heh, not sure how I made the circle here but am glad I did!
BINGO, and cut the senate down to 4 year terms, 2 terms and done, same for the house two 2 year terms and done. And pay for your own health care the way the rest of Americans do BC/BS or health care of your choice. BUT make premium payments and co-pays like the rest of us.
And put in the Constitution that we don’t pay for more than one two week vacation for the Prez and family along with staff and SS, NO DONORS, and we don’t buy their clothing!
Michelle’s clothes binges...$2.7 BILLION and rising
http://nymag.com/daily/fashion/2010/10/analyst_places_27_billion_valu.html
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.