Why haven't any high-profile execs been prosecuted for their role in the financial crisis?
In Financial Crisis, No Prosecutions of Top Figures
By GRETCHEN MORGENSON and LOUISE STORY
The New York Times, April 14, 2011
It is a question asked repeatedly across America: why, in the aftermath of a financial mess that generated hundreds of billions in losses, have no high-profile participants in the disaster been prosecuted?
See Also:
Neil Weinberg, Corrupt Bank Oversight Is Creating New Immoral Hazard, Forbes, 14 April 2011
To me the moral of this story is that Washington has created a vast immoral hazard. We are all truly in a world of peril when regulators and law enforcers believe our financial institutions are too big to be brought to justice—and when our leadership in Washington is so gutless that its response is to let these same institutions emerge bigger and more beyond challenge than ever.
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Tip of the Hat to Lynn Wheeler at LinkedIn for the clean links.
Phi Beta Iota: It is our view that the President, the Attorney General, the Secretary of the Treasury, and most Senators and Representatives are immediately impeachable for failing to uphold their oaths to the Constitution and failing to represent the public interest in the face of massive legalized fraud on the part of Wall Street.
