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.

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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