It’s Hard to Summon Sympathy for Big Banks

“It may not be easy to be sympathetic to the big banks, but it is easy to understand their surprise and frustration. They have gone from being viewed as national champions — proof of a country’s standing in the world — to being seen as a potential source of national disaster. Iceland and Ireland went broke because they had to, or chose to, bail out their irresponsible banks.  Eric H. Holder Jr., the attorney general, did not help when he said last spring that the Justice Department had to keep in mind that filing criminal charges against a large bank could ‘have a negative impact on the national economy, perhaps even the world economy.’ He quickly backtracked, but the perception was reinforced.”

http://www.nytimes.com/2013/12/13/business/little-sympathy-for-big-banks.html?pagewanted=all

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