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Use Antitrust Policy to Break Up Mammoth Banks


By Patrick   Follow   Sun, 10 Mar 2013, 8:04am PDT   115 views   0 comments   Watch (0)   Share   Quote   Permalink   Like   Dislike  

http://www.cepr.net/index.php/op-eds-&-columns/op-eds-&-columns/use-antitrust-policy-to-break-up-mammoth-banks

This week the nation's chief law enforcement officer told a Senate committee that he was concerned that prosecutions of large banks could endanger the country's financial system. As a result, the Justice Department may not prosecute cases against these banks that it would bring against ordinary citizens or smaller banks. The immediate issue at hand was the decision not to prosecute the bank HSBC because of its involvement in laundering money for Mexican drug gangs. Just to be clear, these drug gangs were not just people that sold drugs to willing buyers, they also engage in kidnapping, murder, torture, and...

Right... we can't prosecute large banks because that could endanger the country's financial system. How convenient.

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