Holder said he is personally monitoring the ongoing investigations into financial institutions and is “resolved to seeing them through.”
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In very welcome news to liberals and progressives, The U.S. Justice Department’s criminal investigations of financial institutions and executives is likely to result in criminal charges the coming weeks and months, U.S. Attorney General Eric Holder said in a video, emphasizing that no institution is “too big to jail.”
The comments came as federal prosecutors are pushing two banks, BNP Paribas SA and Credit Suisse AG , to plead guilty to criminal charges regarding sanctions and tax violations, respectively, according inside sources.
In the video, Holder said he is personally monitoring the ongoing investigations into financial institutions and is “resolved to seeing them through.”
“I intend to reaffirm the principle that no individual or entity that does harm to our economy is ever above the law. There is no such thing as ‘too big to jail.’”
“Rather than wall off banks from prosecution, the potential for such severe consequences simply means that federal prosecutors conducting these investigations must go the extra mile to coordinate closely with the regulators that oversee these institutions’ day-to-day operations,” he said.
“This cooperation will prove key in the coming weeks and months as the Justice Department continues to pursue several important investigations,” he said.
This post originally appeared at OccupyDemocrats. Reprinted with permission.
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Photo: AP