An interesting chain of events:
" The federal government until recently shielded big banks from criminal prosecution out of concern that convictions may damage the financial
system, a top Federal Reserve official said Friday, explicitly acknowledging a policy long denied by the Obama administration. The admission came
during a tense exchange between William Dudley, president of the Federal Reserve Bank of New York, and Sen. Sherrod Brown (D-Ohio) at a Senate Banking
Committee hearing meant to explore the cozy relations between federal regulators and the banks they supervise.
Until May, large financial institutions investigated for wrongdoing had dodged criminal prosecution under...