Holder: Some Banks Too Big to Prosecute
March 7th, 2013Via: New York Magazine:
GRASSLEY: OK. 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.
So then that’s background for this question. I don’t — I don’t have recollection of DOJ prosecuting any high-profile financial criminal convictions in either companies or individuals. Assistant General — Attorney General Breuer said that one reason why DOJ has not brought these prosecutions is that it reaches out to, quote/unquote, “experts” to see what effect the prosecutions would have on the financial markets.
So then on January 29th, Senator Brown and I requested details on who these so-called experts are. So far, we’ve not received any information. Maybe you’re going to, but why have we not yet have been provided the names of the experts that DOJ consults with as we requested on January 29th? Because we need to the find out why we aren’t having these high profile cases.
And then I got one follow-up. But maybe you can answer that quickly.
HOLDER: Well, we’ll endeavor to answer your letter, Senator. We did not, as I understand it, retain experts outside of the government in making — in making determinations with regard to HSBC. Now, if we could just put that aside for a minute, though. The concern that you have raised is one that I, frankly, share. And I’m not talking about HSBC now. That would not 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.
Again, I’m not talking about HSBC. This is just a – a more general comment. I think it has an inhibiting influence — impact on our ability to bring resolutions that I think would be more appropriate. And I think that is something that we — you all need to — need to consider. So the concern that you raised is actually one that I share.
This is not a correct answer Mr. Holder. If you are the lead attorney for the US of A, you should not be worrying about the impact on the economy when you know that crimes have been committed! Concern? Something that we “need to consider?”
I think, Mr. Holder, if you have knowledge of crimes committed of ANY KINd, and you are not istigating a prosecution – well I don’t think you are doing your job and should just resign. Quit.
Not sure who has your privates in a vice grip, but do your job! Else resign.
Too big to fail is such bullshit. I live from paycheck to paycheck. I don’t incur debts, nor do I gamble, but da’ya think someone’s not going to prosecute me if I run the red light?
Comon Holder, get a grip on your inner balls and do the job the President asked you to do and my tax payer dollars pay you for, or just up effing quit!!!!!