The new, tacit paradigm is that to earn big bucks you have to "do what needs to be done" while preserving executive deniability. This is a big part of the reaso

The new, tacit paradigm is that to earn big bucks you have to "do what needs to be done" while preserving executive deniability. This is a big part of the reason why no big fish were even threatened with prosecution in response to 2008. This style of management is a response to the prosecution of Enron executives, and the jailing of Milken after the 1987 crash, and it resembles the Mafia's omerta. Galling as it may seem, the way to combat this is the same as with the Mafia: you have to go after the mid-level people who facilitate it. In this particular case, the CIO is going to have a particularly hard job denying that he knew something was up, even if he had tried to maintain a veneer of ignorance. The best he (and we) can hope for now is for him to cooperate, and help uncover any evidence there is showing the others did know.