Senate agrees ‘too big to jail’ concept should die

The process entailed a 13-hour voting session, called a vote-a-rama.

from Mother Jones

"In a largely symbolic vote early Saturday morning, the Senate agreed that badly behaving financial institutions should not be "too big to jail," or so large that the government is afraid to prosecute them for fear of damaging the economy.

"After 1,448 days without a budget, the Senate finally passed one Saturday morning. The process entailed a 13-hour voting session, called a vote-a-rama, in which lawmakers filed over 500 amendments, and voted on 70. Amendment 696 was Sen Jeff Merkley's (D-Ore.), which would officially warn the Department of Justice that "too big to jail" is unacceptable and recommend prosecution when a crime is committed. Most of the amendments are more political posturing than anything else, because it's pretty unlikely the Senate's budget will be merged with the radically different House budget. Still, some of the add-ons, like Merkley's, are important because they point toward legislation that might not be far off. …"

© Copyright 2013 the SGNews news blog, All rights Reserved. Written For: StraightGoods.ca