Jonathan Weil, Columnist

So What If a Bank Cops a Guilty Plea?

Foreign banks can be charged criminally. So can tiny U.S. lenders. And so can companies big and small in just about every other industry from every country -- but not huge U.S. banks.

April 30, 2014 at 5:53 PM UTC

By Jonathan Weil

Preet Bharara and Eric Holder keep saying, and saying, too-big-to-jail doesn't exist. Photographer: Andrew Harrer/Bloomberg — Preet Bharara and Eric Holder keep saying, and saying, too-big-to-jail doesn't exist. Photographer: Andrew Harrer/Bloomberg

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A funny thing happened to Credit Suisse Group AG's stock price this morning after the New York Times reported that federal prosecutors are thinking about charging the company criminally: practically nothing.

At one point the shares were up or down a few pennies. So investors are taking the government's saber-rattling in stride. The article also said that prosecutors are considering criminal charges against BNP Paribas SA. Its stock was down about 4 percent, which is significant, but the market isn't panicking.