Tag Archives: too big to jail

Eric Holder Gives Pass to Banking Criminals at Credit Suisse

He gave a huge one to HSBC which laundered hundreds of millions of dollars for Mexican drug cartels because if he prosecuted he said it could destabilize the financial system. Too big to jail.

Now another one. Holder is retiring soon to defend banks in court (like he did before) so we shouldn’t be surprised. Credit Suisse may very well become a future client. (After a cooling off period of course, to keep things kosher.)

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George Will Says Break Up the Big Banks

The mega-banks are “mega” because the government helped make them that way. Instead of letting the big banks fail in 2008, Hank Paulson swept in and backstopped them, bailed them out, even though the market was trying to correct for years of stupidity both from Wall Street and Washington. The universe wanted to break up the cartel, but the government would not let it.

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