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blocks cedar approve of this because we talk a lot about
too big to fail banks uh... bank monopolies banks not being prosecuted
for joint things that wondering drug money
and it just so happens that in testimony
uh... i think it was yesterday
infront of the
senate
uh...
banking
committee excuse me
the senate uh... senate judiciary committee and oversight
uh... attorney general
uh... eric holder
eight knowledge that some banks may in fact be
two big to fail ought to be to prosecute
which is very interesting this sort of a direct knowledge of it so this is that
uh... in response to a question from senator
uh... truck
chuck grassley
had good old rustling picking up we're grass is actually got on the stuff
oddly i mean not legislatively but he's good at asking the case no good question
his amazing at where
why is he still made it clear because he is so terrible at it
or was he the guy who has like he misspelled everything his our kids reach
any talks about constantly hitting gear on the road and
spring is in
that's really aka related to the whole
kidding do your thing on the road
that's amazing
so this is attorney general holder in response to a question from chuck
grassley
grassley is asking is there a slippery slope with banks where some on
banks are too big a there's a slippery slope or some banks are too big to jail
two big the prosecuting attorney general holder said
i'm concerned that the size of some of these institutions become so large
but it does become difficult for us the prosecute them
wilmerhale with indications that if you prosecute
if you do you bring a criminal charge it will have a negative impact on the
national economy perhaps even the world economy holder said according to the
hill
and i think that's a function of the fact that some of these institutions
have become two large so there's nothing new here folks i think what it was was
that first these institutions became too large
uh... and as they were becoming too large they were deregulated so we took
what should be fundamentally an incredibly boring unnecessary business
which is banking
getting liquidity in the market helping people uh... you know that facilitate
investment loans and things like that and it became this creative in dangerous
deregulated enterprise were still living with the consequences of that
uh... senator elizabeth warren
uh... still us showing that she's at least report cli uh... uh... so far
doing exactly what she campaigned on which is great
i said in response the holders testimony
it's been almost five years since the financial crisis
but the big took the but the big banks are still too big to fail
that means they're subsidized by about eighty three billion dollars uh...
eighty three billion a year
by american taxpayers
and or still being held
uh... they're still not being held fully accountable for breaking the law
returning at general holders testimony the biggest banks too big to fail
today to jail shows once again at his past time to at and
too big to fail and actually i was that the other debts are not some polyp who's
kind of uh...
controversial financial writer he said the other day
i'm not looking to camp ice by apologize here i am
he said the other day that uh... that baker's uh... who were working in
subsidize banks should all receive the same salary as as government workers and
civil servants answer subsidized by our tax dollars
that seem pretty logical sensible to me