The US has not yet had the guts to insist on an admission of criminal guilt from the big banks, but they are close to just such a plea with Credit Suisse and BNP Paribas.

At the annual meeting of Goldman Sachs in Irving, Texas, the CEO expressed concern about the impact of criminal pleas on the economy.  Of course, the minute Bear Sterns bought a mortgage company, that grew geometrically to feed its bundlers in New York, Goldman followed suit.  In Texas, of course.