Finance Criminals

[rich]

I'm afraid you'd have half of wall street in the can. I'd be happy with no
bonuses for 5 years for these putzes.


On Tue, Dec 17, 2013 at 8:54 AM, David Morris <fqmorris at gmail.com> wrote:

>
> 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.
>
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