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Merkley “Too Big to Jail” Amendment Passes

March 23, 2013

Washington, DC- Oregon’s Senator Jeff Merkley issued the following statement after the Senate passed his amendment to create a deficit-neutral reserve fund to facilitate the criminal prosecution of U.S. financial institutions that break the law, regardless of size.

“Under our American system of justice – where Lady Justice is blindfolded – there should never be a prosecution-free zone. But that is what our Department of Justice created on Tuesday, December 11. They chose to fine, but not indict or prosecute, HSBC for laundering over $800 million in illicit drug money and $600 million in transactions that violated U.S. sanctions against Iran, Sudan, Cuba and others. Too big to jail is wrong under our Constitution that promises equality under the law and we must end it.”

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