Thousands Urge Obama To Break Up The Banks

4798 More than 95,000 people are calling on Attorney General Eric Holder to change his position on policing big banks.

WASHINGTON, DC – MARCH 06: U.S. Attorney General Eric Holder testifies before the Senate Judiciary Committee on Capitol Hill March 6, 2013 in Washington, DC. Holder was asked about a variety of topics, including the federal budget sequester, the Fast and Furious program, the use of drone strikes on domestic targets and voter rights. (Photo by Chip Somodevilla/Getty Images)

An online petition asking the Obama Administration to take “immediate steps to break up the big banks and prosecute the criminals who used them to destroy our economy,” has garnered more than 97,000 signatures as of Monday afternoon. The petition on comes shortly after Holder admitted that some banks are just too big to prosecute for their crimes.
“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy,” he said during Senate testimony last week. “And I think that is a function of the fact that some of these institutions have become too large.”
Holder and his team have been criticized in the past for failing to hold Wall Street banks accountable for their actions during the financial crisis and other scandals. No financial executives have gone to jail for their role in the financial crisis and many of the enforcement actions resulting from the meltdown were settlements that allowed banks to not admit or deny wrongdoing.
After Holder decided not to prosecute Goldman Sachs for allegations related to the financial crisis, Rolling Stone writer Matt Taibbi accused our nation’s top law enforcement official of having “no balls.” Holder also faced intense — albeit less colorful — criticism after Justice Department officials decided not to pursue criminal charges against HSBC, which admitted to laundering money for countries like Iran, Libya and others, according to CNN. Instead, the bank agreed to pay $1.92 billion to settle the claims.
Source: Huffington Post