“There is no such thing as too big to jail,” Attorney General Eric Holder announced in a sternly worded video message last May, underscoring that no financial institution “should be considered immune from prosecution.” That was one of many remarkable announcements from the Department of Justice this past year including record fines for the likes of BNP Paribas, Credit Suisse, and JPMorgan and massive civil settlements against Bank of America and Citigroup. Still, Holder’s term as Attorney General did not lead to a single criminal prosecution of a Wall Street executive following the financial crisis that crippled the United States.

Citation
Brandon L. Garrett, The Department of Justice Must Get Serious on “Too Big to Jail”, Conversation (October 22, 2014).