Letter: End era of ‘too big for jail’; hold big banks accountable

May 4, 2013 

The financial meltdown caused many  working Americans to lose their jobs, homes and life savings. Tax dollars from the same Americans bailed out the banks that were “too big to fail.” The CEOs and board members responsible for the mess have kept their jobs. These banks are now bigger, placing greater risk to our economy.

Financial scandals, money laundering and doing business with “the enemy” (e.g., Iran) continue. So does rigging municipal bond markets and international interest rates. Yet no charges have been filed against any CEO or board member. You get more jail time for shoplifting than robbing millions of Americans. 

The time for “too big for jail” must end. Our congressional delegation must act: Introduce a bill — like the “no waiting in airport lines” that Congress adopted in one day — that eliminates sequestration at the Department of Justice and appropriates funds to prosecute those responsible for the financial misdeeds.  Or, at the very least, co-sign a letter to Attorney General Holder and President Obama demanding prosecution.

— John Duffy

Palmer

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