Thursday, May 29, 2014

Climateer Line of the Day: What Will Happen If Banks Are Prosecuted Edition

“Companies, especially financial institutions, will do almost anything to avoid a tough enforcement action and therefore have a natural and powerful incentive to make prosecutors believe that death or dire consequences await,” he said. “I have heard assertions made with great force and passion that if we take any criminal action, the skies will darken; the oceans will rise; nuclear winter will be upon us; and the world as we know it will end.”  
-Preet Bharara, 
U.S. Attorney for the Southern District of New York
Via Bloomberg
HT: WashingtonsBlog