Föhrenbergkreis Finanzwirtschaft

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Posts Tagged ‘Jail’

Why No One on Wall Street Goes to Jail

Posted by hkarner - 20. Februar 2011

 Yves Smith, Feb 17, 2011 6:58PM

There’s a fine new piece by Matt Taibbi on the utter lack of criminal prosecutions on Wall Street, particularly of the big perps. He goes through a series of well known instances of actual (to everyone save the prosecutors) cases of chicanery, ranging from Freddie Mac accounting fraud, the protection of Morgan Stanley CEO from insider trading charges, Lehman’s misleading reporting of restricted stock payments, and gives the sordid details of how whistleblowers were ignored and aggressive SEC staff like Gary Aguirre were fired.

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