Send Article via Email

WASHINGTON (MarketWatch) - Two senators - a Democrat and a Republican - on Tuesday questioned the Department of Justice about whether the powerful status of large Wall Street financial institutions makes it difficult to prosecute wrongdoing and impose appropriate penalties. "Wall Street megabanks aren't just too big to fail, they're increasingly too big to jail," said Sen. Sherrod Brown, democrat of Ohio, in a statement. Brown and Sen. Chuck Grassley, republican of Iowa, sent a letter to U.S. Attorney General Eric Holder arguing that many settlements between large banks and the federal government involve penalties that are "disproportionately low." They also said that the nature of the settlements has raised concerns that big banks "enjoy a favored status in

More from MND:

• MBS Commentary: MBS RECAP: Big Bounce Higher Ahead of Fed
• Mortgage Rate Watch: Mortgage Rates Slightly Lower Ahead of Fed Minutes, Bernanke
• MND NewsWire: Most Real Estate Investors in CA Plan on Selling Inside 6 Years
• MBS Commentary: MBS MID-DAY: Bond Markets Rallying. Wait... What?
• Pipeline Press: Freddie's Non-Usage Fees; LO Comp, Land Sales, and Reg. E Tidbits - It's a Compliance World

If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.