Obama Administration Essentially Admits That Some Banks Are Too Big To Jail

We are going to find out what we should have learned in Obama's first term, he is an tool of big business. The failure to criminally prosecute any banker for the massive fraud of that bank is...criminal. More and more we are learning that Occupy Wall Street was right. The government rescued the banks for their criminality rather than prosecute them. The truth can no longer be covered-up:

One of the great things about being too big to fail is that you're also too big to jail, apparently.

So saith the Obama administration, via the New York Times, in its front-page story on Tuesday about HSBC's settlement with the government over money-laundering charges. Though the British banking giant had to pay a wrist-stinging $1.9 billion, the settlement helped it avoid formal criminal charges. The NYT quotes anonymous government officials who say they were skittish about indicting HSBC because formal charges would amount to a "death penalty" for the bank, potentially roiling the financial system.

This is at least three very specific flavors of bullshit.