Saturday, 9 March 2013

AG Holder: Too big to fail is too big to jail.

Eric Holder admitied in a senate hearing that the banks are too big jail because of the fear of knock on effects for the US or world economy.

Holder was also asked about the Aron Swartz case in which Swartz didn't actually break the law and was charge with crimes with upto 35years in penalties.

Almost sounds someone is over compensating or "kicking the cat".

This could be the lead-in to breaking up Bank Of America, CitiBank, HSBC,  et al.
Money laundering offences are enough to shut down HSBC, if it wasn't to big to nail. Regulators appear hamstrung until DoJ moves.

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