Finance Criminals

[David Morris]

http://www.nybooks.com/articles/archives/2014/jan/09/financial-crisis-why-no-executive-prosecutions/

If the Great Recession was in material part the product of intentional
fraud, the failure to prosecute those responsible must be judged one of the
more egregious failures of the criminal justice system in many years.
Indeed, it would stand in striking contrast to the increased success that
federal prosecutors have had over the past fifty years or so in bringing to
justice even the highest-level figures who orchestrated mammoth frauds.
Thus, in the 1970s, in the aftermath of the “junk bond” bubble that, in
many ways, was a precursor of the more recent bubble in mortgage-backed
securities, the progenitors of the fraud were all successfully prosecuted,
right up to Michael Milken.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://waste.org/pipermail/pynchon-l/attachments/20131217/d6c3f39e/attachment.html>