It’s Just Too Hard to Prosecute the Banks

Go to ProPublica for the full article Why No Financial Crisis Prosecutions? Ex-Justice Official Says it’s Just Too Hard

It’s an issue we and others have noted againand again: Years after the financial crisis, there have still been no prosecutions of top executives at the major players in the financial crisis.

Why’s that? Well, according to a now-departed Justice Department official who used to be in charge of investigating such matters, the Justice Department has decided that holding top Wall Street executives criminally accountable is too difficult a task.

 David Cardona, who recently left the FBI for a job at the Securities and Exchange Commission, told the Wall Street Journal that bringing financial wrongdoing to account is “better left to regulators,” who can bring civil cases.
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One thought on “It’s Just Too Hard to Prosecute the Banks

  1. I don’t suppose the massive political influence of the banking and finance industry has anything to do with it, or that government pension plans are so heavily exposed to MBS and derivatives.

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