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As far as I can make out from that article all the executives were jailed for tarp-related crimes. Since tarp post dates the crisis, it's not really accurate to
by camelite 9y ago
As far as I can make out from that article all the executives were jailed for tarp-related crimes. Since tarp post dates the crisis, it's not really accurate to cure it in response to a claim about bankers responsible for the crisis. They admit most of those jailed were low level. Certainly the one top executive using cited was tarp related. Which makes sense, since there were quite good anti fraud controls in tarp.
> It's not illegal, generally speaking, to make dumb investment decisions, and or to take a lot of risk, and lose money
You're not going to find criminals if you don't look for them. Bill black:
> All right so you have massive fraud driving this crisis, hyperinflating the bubble, an FBI warning and how many criminal referrals did the same agency do, in this crisis. Remember it did well over 10,000 in the prior crisis. Well the answer is zero. They completely shut down making criminal referrals
http://neweconomicperspectives.org/2011/09/william-black-why-nobody-went-to-jail.html http://neweconomicperspectives.org/2011/09/william-black-why...