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Who decides U.S. megabanks are too big to jail?

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Thomas Jefferson often voiced his concern over the power financiers might hold over the country, if their influence went unchecked. He might not be too keen, then, on the degree to which megabanks are not prosecuted in the U.S. for their misdoings. In a recent interview, Assistant Attorney General Lanny Breuer, head of the Justice Department’s criminal division and the man responsible for determining whether anybody should be prosecuted for the financial crisis of 2008 (short answer: no, not really), said that the lack of prosecutions stem form an interest of being fair. How does the Justice Department hold one large, unique firm to a certain standard it cannot hold to other firms? A fair point, except it begs the question: what standards are being used at all, and who is helping the Justice Department set them?

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