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Use Antitrust Policy to Break Up Mammoth Banks

By Patrick   2013 Mar 10, 8:04am   201 views   0 comments   watch (0)   quote      

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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