Finance Criminals

[Fiona Shnapple]

A great read, thanks.

On Tue, Dec 17, 2013 at 6:08 PM,  <malignd at aol.com> wrote:
> That's "read" past tense.  Not a call to arms.
>
>
>
> -----Original Message-----
> From: malignd <malignd at aol.com>
> To: pynchon-l <pynchon-l at waste.org>
> Sent: Tue, Dec 17, 2013 5:57 pm
> Subject: Re: Finance Criminals
>
> Just read this article.  Sobering and infuriating (the content, not the
> article).
>
>
> -----Original Message-----
> From: David Morris <fqmorris at gmail.com>
> To: P-list <pynchon-l at waste.org>
> Sent: Tue, Dec 17, 2013 8:54 am
> Subject: Finance Criminals
>
> 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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Pynchon-l / http://www.waste.org/mail/?list=pynchon-l