Too-big-to-fail banks in the U.S. are a “national security threat to the country”, says Mike Harris, a financial editor at Veterans Today.
Newly released documents have shown that the Department of Justice has helped biggest U.S. banks escape indictment.
According to the Huffington Post, DOJ appears to have neither conducted nor received any analyses that would show whether criminal charges against large financial institutions would harm the economy.
“If the DOJ is intervening on behalf of the banks that helps them avoid criminal prosecution, then it’s an indicator that the banks are too large, have too much power, and they have corrupted the process of justice in the United States,” said Harris in a phone interview with the U.S. Desk on Thursday.
“The big banks should be broken up and dismantled and made into many, many smaller pieces,” added Harris.