A few years ago I wrote a piece entitled Why Too Big To Fail = Too Big To Exist with respect to the Wall Street banking oligopoly and its “friends” in other bankster-dominated Western regimes. This week U.S. Attorney General Eric Holder demonstrated the truth of that proposition by asserting that these criminal-banks were now “too big to prosecute.”
Translation: he, and the rest of the Justice Department, are refusing to perform their sworn duties and uphold the Rule of Law in the United States because it’s inconvenient. Outrageous.
Apart from the pathetically servile attitude, which the ‘Justice’ Department is taking with respect to crimes committed by the Wall Street oligopoly, its argument is totally without merit. Obviously sending criminals to prison would not cause people to lose confidence in the U.S. financial system. What has already caused much/most of the world to “lose confidence” in the U.S. financial system (as evidenced by all of the banksters’ “markets” which have withered-and-died since 2008) is refusing to send the criminals to prison.
It is highly instructive (on several levels) to note that a U.S. Senator described the position/attitude of Holder and the rest of the ‘Justice’ Department posers as equivalent to giving the banksters a “get-out-of-jail-free card”. What is the origin of this metaphor? The game of Monopoly.
A “get-out-of-jail-free card”, or (alternately) the Justice Department openly refusing to prosecute banksters means simply one thing: being above the law. And the only possible context where white-collar criminals could/can be above the law is if they are part of a monopoly (or oligopoly).
In my original piece from 2009; I explained why the instant that the Wall Street oligopoly (and its European brethren) portrayed themselves as “too big to fail” that this meant beyond any possible shadow of a doubt that they were now “too large too exist”.
TBTF is nothing less than an official mantra of blackmail, based on a perpetual/implicit threat: “keep us alive…or else”. There are no possible circumstances under which a society could/should allow itself to be perpetually blackmailed by what is literally a corporate crime syndicate. In claiming that they were “too big to fail”; the Big Banks immediately confessed they were now too large too exist.
Put another way, there is no possible (supposed) “harm” which could result from smashing this banking oligopoly into little pieces which could ever equal the harm of living in an economic system which was subjected to the perpetual coercion, blackmail, and endless acts of financial malfeasance of this white-collar crime syndicate.
Indeed, this same financial cabal tried to economically obliterate Iceland (as punishment) when it threw the Financial Oligarchs out of its own nation. Instead, by purging itself of this crime syndicate it became the first-and-only (formerly) banker-dominated economy to actually recover/escape from the financial carnage – created by this same syndicate – in the Crash of ’08.
Similarly, when the sycophant/apologist Eric Holder insists that the banksters themselves are now “too big to jail”, he has instantly-and-conclusively proven that these criminals must be brought to justice…immediately. Just as there is no possible scenario in which the TBTF crime syndicate could be allowed to engage in perpetual blackmail; there is no possible scenario where these individual banksters could be allowed to be above the law.
Read more: Too-Big-To-Fail (Now) = Too Big To Jail