Dayton Daily News: Ohio senator wants tougher penalties for big banks

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Dayton Daily News: Ohio senator wants tougher penalties for big banks

Sen. Sherrod Brown wants to know: Does “too big to fail” mean “too big to jail?”

Brown, D-Ohio, and Sen. Chuck Grassley, R-Iowa, sent a letter to U.S. Attorney General Eric Holder questioning the federal government can effectively prosecute banks that have been deemed “too big to fail.”

Specifically, they want to know if the federal government can prosecute those banks and impose penalties on them. They also want Justice Department to disclose the identities of parties that prosecutors consult with about the appropriate level of penalties for financial institutions.

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