. . . to one of the most corrupt public officials in American history. He invented the “too big to fail” concept that kept Wall Street firms intact in the wake of extreme and disastrous criminal behavior and kept their executives out of jail. His relentless war on the press kept it tame in the face of his boss’s equally relentless war on the Constitution.
He leaves behind a legacy of momentous villainy in the service of the plutocracy and state tyranny.
Click on the image to enlarge.
The “Too Big To Fail” concept goes all the way back to the 1980’s.
Let’s not forget that fun duo of Ashcroft/Gonzales from the previous eight year of misery.
This may be the first time in my life I have ever quoted Alan Greenspan = “If they’re too big to fail, they’re too big!”
The concept of “too big to fail” may go back a ways but Holder first set it down as a policy guideline for the Justice Depratment in 1999 when he was working for the Clinton administration. The general idea of deregulating the financial industry, which led directly to 2008, was put into detailed practice by Clinton. Greenspan is right, of course, but the financial institutions that were “too big to fail” in 2008 are even bigger today. People who think the Fed MUST be watching them more closely now should find the Segarra revelations terrifying.