No longer too big to jail?

As the New York Times reports today,

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades.

The two banks highlighted are foreign banks, BNP Parabas and Credit Suisse, but the article suggests that U.S. banks are under investigations that aren't yet as far along.

The story cautions that despite the new aggressive approach by Attorney General Holder and U.S. Attorney for the Southern District of New York Preet Bharara, "[d]epending on the regulator — American and European banks are divided among a patchwork of agencies in New York and Washington — the path to filing charges could still be difficult."

Read the whole story here.