Newly appointed Democratic Senator Elizabeth Warren asks federal bank regulators why no banks were taken to trial in the aftermath of the financial crisis.
The failure of government to proceed on legitimate legal grounds against “Big Banks” on Wall Street has in effect given legitimacy to Senator Warren’s quotation at the end of this 4m:23s clip: “Too Big to Fail has become Too Big to go to Trial”.
It is a desirable function of the market that courts of law be constituted by government to act as forums in which corporations can be made to pay hefty fines if and when they do break the law. However, with crony capitalism (“corporatism”) in practice and special interest lobby groups operating as the de facto 4th branch of the US government (a termed used by Dr. Ben Carson last week), there is in effect, inaction by government against such law breakers. This is as example of the failure in the desirable action of government.