Eric Holder, Creator of “Too Big To Jail,” Recants

The man credited with creating the “too big to jail” designation, US Attorney General Eric Holder, now says “there is no such thing as ‘too big to jail.’”

Eric Holder letter starting point that eliminated deterrence among Wall Street elite

In the late 1990s, just after the financial lobby was credited with successfully removing then Commodity Futures Trading Commission Chairwoman Brooksley Born from office, the star of a young attorney began to shine brightly to those in the Wall Street lobby.  This was when then Department of Justice attorney Eric Holder wrote a letter that provided cover for prosecutors to ignore criminal behavior of organizations if prosecuting them would lead to negative economic consequence.