“Too Big To Jail” [VIDEO]
You've heard the phrase "too big to fail" about the bailout of the banks. How about "too big to jail?"
U.S. Senator Bernie Sanders (I-Vermont) is proposing legislation that would break up large United States banks in light of a statement by U.S. Attorney General Eric Holder that it could be difficult to prosecute Wall Street CEO's who commit crimes because of the effect it would have on the world economy.
Speaking on the Senate floor, Sanders added, “If an institution is too big to fail, it is too big to exist."
The Senator later wrote on the Huffington Post, "I was stunned when our country's top law enforcement official recently suggested it might be difficult to prosecute financial institutions that commit crimes because it may destabilize the financial system of our country and the world," Sanders wrote. "The attorney general's troubling acknowledgement has revived interest in an idea that is drawing more and more support. It is time to break up too big to fail financial institutions."