Banks Don’t Commit Fraud; Banksters Commit Fraud: Response to Yglesias

From Great Leap Forward
January 30, 2013 - 9:45pm

The often interesting Matthew Yglesias wonders “Are Banks Too Big To Prosecute?”. See here: http://www.slate.com/blogs/moneybox/2013/01/30/too_big_to_prosecute_can_the_government_bring_serious_criminal_charges_against.html. Here’s his thesis. Sure, Megabanks committed tons of fraud. But we cannot prosecute banks for the fraud because that would bring them down. And the bigger they are, the more fraud they perpetrated, but the bigger the insolvency hole if [...]


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