Neil Barofsky: Without another financial crisis, President Obama is unlikely to prosecute ‘too big to jail’ banksters

Cenk Uygur and Neil Barofsky, former Troubled Asset Relief Program special inspector general, discuss how HSBC managed to escape charges of helping drug trafficking organizations launder money without any criminal prosecution. “It is another form of bailout,” Barofsky says, “but this one is even more pernicious than what we saw in 2008 because it either creates or at least recognizes that we have two tiers of systems for criminal justice.” This idea that banks are “too big to jail” will only lead to more risk, Barofsky says, especially because President Obama is unlikely to push for change. “There’s no chance … absent another financial crisis,” Barofsky says.