Eric Holder mulling criminal prosecutions for big banks

Attorney General Eric Holder emphasized that no bank is “too big to jail” in a video message that suggests that officials at the “too big to fail” banks involved in the 2008 financial crisis might yet face criminal charges.

“[I]t is fully possible to criminally sanction companies that have broken the law, no matter their size,” Holder said, citing the need for coordination between criminal investigators and federal regulators. “While I will not specify any particular targets, I will say this: I am personally monitoring the status of these ongoing investigations, I am resolved to seeing them through, and in doing so, I intend to reaffirm the principle that no individual or entity that does harm to our economy is ever above the law.”