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ARTICLE · 18 NOVEMBER 2014

Round Two: Prosecutors Reopen Bank Settlements

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With our political system suffering from a growing chasm down party lines, our public servants seem to be increasingly vulnerable to public pressure.

United StatesInternational Law
Thaddeus McBride
Thaddeus McBride
Cheryl Palmeri
Cheryl Palmeri
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With our political system suffering from a growing chasm down party lines, our public servants seem to be increasingly vulnerable to public pressure.  Politicians scramble to fight for whatever cause du jour will garner them the most support.  And lately, no political act is guaranteed to please Main Street quite so much as blaming the U.S. banking system for the country's woes.  (It is not just the government attacking the banks; as we reported here, Arab Bank of Jordan is currently facing penalties after a jury of its peers decided the bank was liable for seemingly attenuated violations of the Anti-Terrorism Act.)

In the face of mounting political pressure, it is perhaps not surprising that prosecutors are reopening and re-prosecuting previously settled cases against banks.  When it comes to the U.S. financial system, it seems that prosecutors just can't get enough.

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