Holder: Banks too big to prosecute
Attorney General Eric Holder admitted to the Senate Judiciary Committee on Wednesday that banks are simply too big to prosecute.
The Justice Department has not brought a single criminal conviction against a Wall Street executive four years after a financial crisis proven to have been precipitated by fraudulent behavior. On Wednesday, Holder admitted that the vast size of major banks and the structural integration in the economy makes criminal prosecutions basically impossible.
"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," Holder said, according to The Hill. "And I think that is a function of the fact that some of these institutions have become too large."