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March 31, 2010

Today's Must-Read

-- by Dave Johnson

Prosecuting Financial Crimes: Will Anyone Bunk with Bernie?

Apparently no one at the Department of Justice (DOJ) or the FBI really cares about the greatest white-collar crime wave in the history of the world -- even if it did rob average American of some $14 trillion dollars in lost wages, savings, and housing wealth. After eighteen months, it is difficult to point to one CEO from a major Wall Street bank, hedge fund, or fraudulent mortgage company who is behind bars.

How does this compare to the S&L Crisis?

. . . According to government statistics, no less than 1,852 S&L officials were prosecuted and 1,072 were jailed. Over 500 of these were top officers

Go read..

Posted by Dave Johnson at March 31, 2010 3:13 PM


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