By by Eric Toussaint We all know the saying, “too big to fail.” The way governments have managed the crisis caused by the banks has given rise to, “too big to jail,”1 which is equally poetic!2 Although the US government let Lehman Bros. go to the wall in September 2008, no other bank has been closed or broken-up, no directors have been condemned to prison.3 The only exception in the western world is Iceland, where the courts have put three bank directors in prison. Larus Welding, the CEO of Glitnir,…

Source: Banks and the New “Too Big to Jail” Doctrine