https://financialservices.house.gov/uploadedfiles/07072016_oi_tbtj_sr.pdfTOO BIG TO JAIL:
INSIDE THE OBAMA JUSTICE DEPARTMENT’S DECISION
NOT TO HOLD WALL STREET ACCOUNTABLE
"But before DOJ could announce at the September 11th interagency call
whether its senior leaders had approved AFMLS’s recommendation to prosecute
HSBC, George Osborne, Chancellor of the Exchequer, the UK’s chief financial
minister, intervened in the HSBC matter by sending a letter to Federal Reserve
Chairman Ben Bernanke (with a copy transmitted to then-Treasury Secretary
Timothy Geithner) on September 10, 2012, to express the UK’s concerns regarding
U.S. enforcement actions against British banks.21 Chancellor Osborne insinuated
in his letter of September 10th that the U.S. was unfairly targeting UK banks by
seeking settlements that were significantly higher than “comparable” settlements
with U.S. banks.22 Moreover, the Chancellor’s letter warned Chairman Bernanke
and Secretary Geithner that prosecuting a “systemically important financial
institution” such as HSBC “could lead to [financial] contagion” and pose “very
serious implications for financial and economic stability, particularly in Europe and
Asia.”23 "
Too big to fail, too big to jail. Ridiculous.