An argument from 2008 was that as the CEOs and bankers were careful, no one had actually broken any laws and so no one (important) went to jail. I agreed with

An argument from 2008 was that as the CEOs and bankers were careful, no one had actually broken any laws and so no one (important) went to jail. I agreed with the Bank Of England governer that this presented a huge moral hazard. A similar moral hazard is seen here. Maybe no laws were broken. But the moral hazard argument suggests laws similar to those that targeted Robber barons (ie tax on those with incomes over 5 billion dollars)