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Posted by on Jan 10, 2014 in Banks, Business, Economy, Finance | 6 comments

Why Bankers Have Gotten a Pass

111221_bofa_hmed_1241p_grid-6x3 (1)Today’s New York Times has an interesting article on why no bankers have yet been indicted on criminal charges, nor banks accused of fraud ( According to Judge Jed Rakoff, who has been unhappy with the way the financial debacle has been handled, the problem has been prosecutorial weaknesses. Judge Rakoff would like to see prosecutors taking more aggressive stances with the banks and their top executives.
It seems that though the vast majority of American citizens are outraged by Wall Street and the investment bankers getting off the hook when they were responsible for the financial meltdown and came away smelling like roses, our legal system is impotent in bringing the bad guys to justice.

Resurrecting Democracy