JPMorgan Chase & Co. (JPM): If Jamie Dimon Lived in Iceland, He Might Be Facing Jail Time

Foolish bottom line
I hate to say it, but Holder is probably right, at least as far as the system stands right now. There is too much risk to the economy to put current or former top management on trial for crisis-related behavior, though its arguable that jail time is the only way to seriously curb bad-banking culture.

Sure, we’ve seen lots of fines levied, but none big enough to seriously injure any banks. And again, you really can’t levy fines like that for the same reason you can’t criminally prosecute CEOs: You might tip the bank, and the economy, over into failure.

I’m not saying Dimon or Blankfein or anyone should be criminally prosecuted, but U.S. banks are still too big to fail, and — now we know — too big to jail. So how is any financial institution ever to be held truly accountable for anything moving forward? Jamie, count your blessings, at least for now.

The article If Jamie Dimon Lived in Iceland, He Might Be Facing Jail Time originally appeared on Fool.com and is written by John Grgurich.

Fool contributor John Grgurich owns shares of Goldman Sachs and JPMorgan Chase & Co (NYSE:JPM). Follow John’s dispatches from the bleeding heart of capitalism on Twitter @TMFGrgurich. The Motley Fool recommends Goldman Sachs. The Motley Fool owns shares of Bank of America and JPMorgan Chase & Co.

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