Are We Going to Let the Biggest Financial Fraudsters Keep Their Money and Avoid Jail Time?Quicklink submitted by Margaret Bassett Permalink
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|Bill Black who was involved with the S&L crisis: The FBI and the DOJ remain unlikely to prosecute the elite bank officers that ran the enormous 'accounting control frauds' that drove the financial crisis. While over 1000 elites were convicted of felonies arising from the savings and loan (S&L) debacle, there are no convictions of controlling officers of the large nonprime lenders. The only indictment of controlling officers of a far smaller nonprime lender arose not from an investigation of the nonprime loans but rather from the lender's alleged efforts to defraud the federal government's TARP bailout program.|
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