When Credit Suisse pleaded guilty to criminal charges last May, many called it the end of "too big to jail" for big banks. But guess what: No bank executives actually went to jail.
Instead, they paid a fine – $2.6 billion – to settle the charges.
That may sound like a lot to you and me, but to a major financial institution, that's a cost of doing business. And it’s just one in a series of settlements by big banks after wrongdoing when none of the executives went to jail.
That isn’t justice. It’s time we demand equal enforcement of the law.
If we want big banks to respect the law, they should be held accountable when they break it.
We’re calling on the Department of Justice to end the "too big to jail" scheme the big banks enjoy today.
After all, just because you're the banker doesn't mean you should get out of jail free.
Add your name and help us stand up to big bank abuses!
That's why I signed a petition to The Department of Justice, which says:
"If big banks can buy their way out of criminal prosecution, there’s little incentive for them to do what’s right. And it’s a double standard that says wealthy institutions are above the law.
We believe no bank is “too big to jail,” and ask that the Department of Justice hold lawbreakers accountable with serious penalties, including jail time, whether they're individuals or big banks."
Will you sign the petition too? Click here to add your name:
http://pac.petitions.moveon.
Thanks!
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