Wondering
Frontline wonders why we didn't see more fraud charges in the aftermath of the financial crisis. Me too.
(link)
posted by The Other Front at 7:39 PM
January 22, 2013
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4 Comments:
I'd been hoping for "dragged through street and pilloried by angry mobs."
Tough to get an angry mob going around misuse of equilibrium models assuming perfect liquidity, but I'll give it a shot.
Rob McKenna, former GOP AG of Washington State, was on public radio today claiming that no crimes were committed by bankers, and there were no prosecutions for this clusterfuck "just because that's the way the laws are written."
Among many, many others, what about racketeering laws?
Well, Sarbanes-Oxley did make officers of the corporation personally responsible for willful mis-statement of the firm's financial position. Is anyone seriously trying to claim that did not occur?
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