Bank criminal charges could be near

"It is fully possible to criminally sanction companies that have broken the law, no matter their size," says Attorney General Eric Holder in a video on the DOJ website, suggesting criminal charges for at least a couple of lenders are getting near (CS and BNPZY are the leading candidates).

After 5-plus years of shying away from criminal action against banks on the apparent worry of ruffling the economy's feathers, Holder's feeling his oats now, and says the DOJ is working closely with regulators to assure criminal prosecutions don't affect banks' day-to-day operations.

The change of heart was leaked to the NYT last week.

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Comments (18)
  • Bouchart
    , contributor
    Comments (1162) | Send Message
    Will more stories of bankster "suicides" be far behind?
    5 May 2014, 12:29 PM Reply Like
  • The Rebel
    , contributor
    Comments (2845) | Send Message
    Notice that the 2 leading candidates are both foreign-owned banks. He won't prosecute those crooked American banksters who have contributed to and favored the dear leader.
    5 May 2014, 12:54 PM Reply Like
  • John Motyka
    , contributor
    Comments (69) | Send Message
    Rebel Boy: The Mormon Vulture had many, many more crooked banksters backing his campaigns. Myth meets Math...jdm
    6 May 2014, 02:28 AM Reply Like
  • John Motyka
    , contributor
    Comments (69) | Send Message
    Reb: What about the Mormon Vulture? Myth meets Math...jdm
    6 May 2014, 02:31 AM Reply Like
  • DrGarnicus
    , contributor
    Comments (118) | Send Message
    Too little, much, much too late, BO! Your "change to believe in" came far too long after the fact. But, hey, you had to get campaign money from somewhere!
    5 May 2014, 01:56 PM Reply Like
  • patmann03
    , contributor
    Comments (45) | Send Message
    Charge PEOPLE not companies.
    5 May 2014, 02:15 PM Reply Like
    , contributor
    Comments (410) | Send Message
    Wait, I thought corporations are people too, according to the SCOTUS?
    5 May 2014, 07:00 PM Reply Like
  • Exbuggywhipmaker
    , contributor
    Comments (116) | Send Message
    Eric Holder is not too big to jail.
    5 May 2014, 02:33 PM Reply Like
  • Exbuggywhipmaker
    , contributor
    Comments (116) | Send Message
    What about Barney Frank (Bank) and all the politicians who encouraged banks to lend. Barney would enjoy being behind bars.
    5 May 2014, 02:35 PM Reply Like
  • aeroguy48
    , contributor
    Comments (905) | Send Message
    Serves them right for funding and voting Democrat.
    5 May 2014, 05:53 PM Reply Like
  • markcc
    , contributor
    Comments (3244) | Send Message
    It seems like all Holder's actions are political, to choose the internationals and protect the US bankers, who were mostly doing the same things, defines injustice. I could not be fair on a jury to convict such a targeted group of people. Get them all, or get none.
    5 May 2014, 06:56 PM Reply Like
  • daro
    , contributor
    Comments (1712) | Send Message
    no, actually if they prosecuted one or two, poeple would then say, why let the others go free and maybe they would go after some more. But to me, the worst offenders were the ratings agencies. the government should put them all in jail.
    5 May 2014, 07:23 PM Reply Like
  • minecanary
    , contributor
    Comments (1367) | Send Message
    If they decide they can slam the individuals w/some hefty fines like the banks have been getting, things could really get on a roll. Of course, they would probably need to convert Hawaii to a penal colony to provide enough cushy digs for all the crooked bankers. Hmmm, then maybe the bankers would roll up on the dirty Congressmen and regulators. Ok, I'm dreaming.
    5 May 2014, 09:17 PM Reply Like
  • BudH
    , contributor
    Comments (718) | Send Message
    They should go after the guys who created the mess and made off with hundreds of millions in personal wealth, Chuck Prince, Kerry Killinger and the like. Going after today's shareholders is completely wrong. The US should not be trying to weaken our national banks because of the mistakes made a decade ago.
    5 May 2014, 09:29 PM Reply Like
  • Frank Stone
    , contributor
    Comment (1) | Send Message
    How about going after the IRS?
    6 May 2014, 12:23 AM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (13557) | Send Message
    This is big because TBTF isn't TBTF if it gets convicted of criminal activities which most have already dodged and paid out to avoid such findings. Criminal conviction means they can't operate as banks which serves them right. It's only a pity that the executives can't get convicted of crimes they knew about and participated or were complicit in because of the financial burden taxpayers would have to shoulder in such cases.


    Of course, if the banks go bust the equation for convicting them changes dramatically and is why they will fight tooth and nail to keep their perky paychecks and shield against their prior behavior.


    Sadly, no one is talking yet about fraud and criminal convictions against TBTF banks aside from foreign ones, but they should. Likewise, foreign countries should consider the same against US banks since the US doesn't want to stand up for justice for their own citizens thanks to lobbying money.
    6 May 2014, 01:15 AM Reply Like
  • IgnisFatuus
    , contributor
    Comments (2836) | Send Message
    <Likewise, foreign countries should consider the same against US banks since the US doesn't want to stand up for justice for their own citizens thanks to lobbying money. >
    Can you imagine the howls coming from the administration and Congress if this actually occurred?
    6 May 2014, 01:06 PM Reply Like
  • John Motyka
    , contributor
    Comments (69) | Send Message
    Fatu: Music to my ears. Perp Walks for the faceless Criminals in the White Collar world...jdm
    7 May 2014, 12:00 PM Reply Like
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