UBS Deal Shows Some Banks Still Too Big To Indict

Law360, New York (December 19, 2012, 7:02 PM EST) -- Wednesday's guilty plea from a UBS AG unit for rigging the London interbank offer rate shows how prosecutors can bring a charge while sidestepping the threat a criminal indictment can pose to a bank's existence, but attorneys say it also reinforces that global banks remain too big to indict.

Since the financial crisis, the public has clamored for criminal charges against large banks and their executives. But prosecutors have been reluctant to bring such cases, knowing an indictment could cost a bank its charter to operate in the U.S. — a likely death sentence.

“In the world today of large institutions,...

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