Why Only One Top Banker Went to Jail for the Financial Crisis. Many reasons. Read the whole thing if you want to understand.
One interesting note: "Too big to fail" is used inside the US government as a reason not to go after really big financial firms. The government does not want to seriously damage a huge bank due to fears of financial panic if one of them goes down as a result.
"Too big to fail" banks should be broken up. But they so have the power to prevent hat from happening. So that is just one of many things about American governance and American society that will stay broken.
|Share |||By Randall Parker at 2014 May 03 08:33 PM|