Make us your home page
Instagram

No bank too big to indict, U.S. attorney general says

WASHINGTON — Attorney General Eric Holder said Friday that no bank is "too big to indict" and that the Justice Department has more cases coming involving "significant financial institutions" as it continues to investigate Wall Street misconduct.

The Justice Department has been criticized for not filing more cases against Wall Street firms and executives for activities leading up to the subprime housing market crash and the financial crisis.

Holder has taken heat for telling a Senate hearing last year that some financial institutions were "so large that it becomes difficult to prosecute them" because criminal charges could hurt the United States and even world economies.

Since then Holder has tried to emphasize that the Justice Department is not intimidated by the size of a financial institution and would bring any charges it thought it could prove.

"There are no individuals who are in such high-level positions that they cannot be indicted, criminally investigated," Holder said in an interview with Ari Melber, co-host of MSNBC's The Cycle. "And we have brought charges against thousands of people" in the nearly five years he has been in office.

Some of those cases have involved large financial institutions, such as JPMorgan Chase & Co., he said.

The Justice Department is aggressive and looking for cases it could bring to trial rather than settle, he said. But prosecutors will file charges only in cases they think they can prove.

"To the extent that we have the ability to bring cases against individuals or institutions, criminal charges, we will bring them," Holder said.

"But we have certain responsibilities to only bring cases that we think we have an ability to prove beyond a reasonable doubt."

No bank too big to indict, U.S. attorney general says 01/24/14 [Last modified: Friday, January 24, 2014 8:11pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. 'Road to Nowhere' is back: Next phase of Suncoast Parkway coming

    Roads

    Despite intense public opposition and dubious traffic projections, the Florida Department of Transportation has announced that construction of the toll road known as "Suncoast 2" is expected to start in early 2018.

    The Suncoast Parkway ends at U.S. 98 just south of Citrus County. For years residents have opposed extending the toll road, a project dubbed the "Suncoast 2" into Citrus County. But state officials recently announced that the Suncoast 2 should start construction in early 2018. [Stephen J. Coddington  |  TIMES]
  2. A sports rout on Wall Street

    Retail

    NEW YORK — Sporting goods retailers can't shake their losing streak.

  3. Grocery chain Aldi hosting hiring event in Brandon Aug. 24

    Retail

    BRANDON — German grocery chain Aldi is holding a hiring event for its Brandon store Aug. 24. It is looking to fill store associate, shift manager and manager trainee positions.

  4. Lightning owner Jeff Vinik backs film company pursuing global blockbusters

    Corporate

    TAMPA — Jeff Vinik's latest investment might be coming to a theater near you.

    Jeff Vinik, Tampa Bay Lightning owner, invested in a new movie company looking to appeal to a global audience. | [Times file photo]
  5. Trigaux: Look to new Inc. 5000 rankings for Tampa Bay's future heavyweights

    Business

    There's a whole lotta fast-growing private companies here in Tampa Bay. Odds are good you have not heard of most of them.

    Yet.

    Kyle Taylor, CEO and founder of The Penny Hoarder, fills a glass for his employees this past Wednesday as the young St. Petersburg personal advice business celebrates its landing at No. 25 on the 2017 Inc. 5000 list of the fastest growing private companies in the country. Taylor, still in his 20s, wins kudos from executive editor Alexis Grant for keeping the firm's culture innovative. The business ranked No. 32 last year. [DIRK SHADD   |   Times]