With our political system suffering from a growing chasm down party lines, our public servants seem to be increasingly vulnerable to public pressure. Politicians scramble to fight for whatever cause du jour will garner them the most support. And lately, no political act is guaranteed to please Main Street quite so much as blaming the U.S. banking system for the country’s woes. (It is not just the government attacking the banks; as we reported here, Arab Bank of Jordan is currently facing penalties after a jury of its peers decided the bank was liable for seemingly attenuated violations of the Anti-Terrorism Act.)
Continue Reading Round Two: Prosecutors Reopen Bank Settlements