HSBC saga Part 2 Too Big to Jail

I received a reply from Jeff Merkley about my email on HSBC. I had sent him an Email on the subject on Dec 13, 2012 about HSBC getting a pass from the DOJ.  He was already working on the DOJ since he sent a letter to Eric Holder at the DOJ that same day wanting to know why they were not prosecuting the banksters.

He said, "I am deeply concerned that four years after the financial crisis, the Department appears to have firmly set the precedent that no bank, bank employee, or bank executive can be prosecuted even for serious criminal actions if that bank is a large, systemically important financial institution,” wrote Merkley.  “This ‘too big to jail’ approach to law enforcement, which deeply offends the public’s sense of justice, effectively vitiates the law as written by Congress.  Had Congress wished to declare that violations of money laundering, terrorist financing, fraud, and a number of other illicit financial actions would only constitute civil violations, it could have done so.  It did not.”

I am gratified that he was on top of the issue, I wish that Earl Blumenauer and Ron Wyden were joining in the chorus.