Accountability for the financial crisis: Status

Propublica has a detail article about the status of investigations into who might be held accountable for the financial crisis which started unfolding in 2008.

The reader should read the article for details, while LSW chooses to focus on the fact that apparently no one will go to jail or in any way be held accountable for trashing the country’s and to some extent the global economy:

“Despite revelations coming up and down the financial spectrum, there have been no major criminal charges and almost no civil charges against executives. And while the SEC and some government prosecutors have been active, federal bank regulators have so far been quiet.

This all comes as Congress passed the Dodd-Frank financial reform bill this summer, seeking to overhaul the oversight of everything from mortgage securities to how banks make bets with their own money. As regulators hammer out the rules of the reforms, the devil may lie in the hotly contested details.”

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