Part of the problem in the past is that we've expected the justice department to go after the heads of the bank. This has been wholly ineffective when we do try

Part of the problem in the past is that we've expected the justice department to go after the heads of the bank. This has been wholly ineffective when we do try because the people at the top do a great job as shielding themselves from hard evidence that implicates them. What I like about this new approach is that the focus is on the rank and file traders and other employees. The great thing about this new strategy is that it gives all these lower level employees caught in a criminal investigation net and incentive to produce the hard evidence necessary against their bosses as part of a plea bargain. Once we go through at least one round of these types of criminal investigations, any future lower level employees would be stupid if they didn't intentionally keep hard evidence against their bosses in their possession as a get out of jail free card next time the shit hits the fan. All in all, splendid news.