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No such thing as 'too big to jail':AG Holder

Attorney General Eric Holder discusses the Department of Justice's belief that no company, no matter how big, is above the law, including the big banks. "No individual or company," he says, "is above the law.

The U.S. Justice Department is pursuing criminal investigations of financial institutions that could result in action in the coming weeks and months, U.S. Attorney General Eric Holder said in a video, adding that no company was "too big to jail.''

The comments, made in a video posted on the Justice Department's website on Monday, came as federal prosecutors push two banks, BNP Paribas and Credit Suisse, to plead guilty to criminal charges to resolve investigations into sanctions and tax violations, respectively, according to people familiar with the probes.

While Holder did not name any banks, he said he is personally monitoring the ongoing investigations into financial institutions and is "resolved to seeing them through.''

"I intend to reaffirm the principle that no individual or entity that does harm to our economy is ever above the law,'' Holder said in the video. "There is no such thing as 'too big to jail.'''

French bank BNP Paribas warned last week it faces fines from U.S. authorities in excess of $1.1 billion over allegations that it violated U.S. sanctions against Iran and other countries.

Continued here:
US closer to charging banks