Comment: Gotta love this, crony

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Gotta love this, crony

Gotta love this, crony capitalists! (From the article)

The government has been reluctant to bring criminal charges against large corporations, fearing that such an action could imperil a company and throw innocent employees out of work. Those fears trace to the indictment of Enron’s accounting firm, Arthur Andersen, which went out of businesses after its 2002 conviction, taking 28,000 jobs with it. Ever since, prosecutors have increasingly relied on deferred-prosecution agreements, which rebuke companies without threatening their health. Although a Wall Street bank has never faced a deferred-prosecution agreement, according to a University of Virginia Law School database, Wachovia and the banking arm of American Express have entered into such deals.

The agreements, however, have fueled concern that some banks, having grown so large and interconnected, are too big to indict.

Yep, TBTF now officially includes TBTI. (Gee, and I thought Dodd-Franks fixed all this?)

I must be willing to give up what I am in order to become what I will be. Albert Einstein