financial amnesty
An abandoned house in Florida , a victim of the subprime crisis . | AP
In an article dated 12 November widely circulated on the Internet entitled " Why Have No High Level Executives Been Prosecuted in Connection With the Financial Crisis ? " U.S. Judge Jed Rakoff raises the question of why no banker has been prosecuted as a result of the subprime crisis , these risky mortgages , started in 2007 , while 800 of them were after the crisis of American savings banks in the 1990s.
Judge Rakoff stressed that there will soon prescription for acts committed and recalls that the report published in January 2011 by the Financial Crisis Inquiry Commission , a bipartisan parliamentary inquiry commission created by President Barack Obama evoked 157 times facts of fraud.
Jed Rakoff makes three assumptions.
The first is that the attention of regulators was mobilized elsewhere. Many agents have been displaced financial services to the fight against terrorism after September 11, 2001 . With limited resources , the agencies have preferred to devote himself to easy to solve or already amply documented issues.
The second assumption is that potential indictees dédouaneraient claiming to have done that follow government policy . That deregulated finance? Who advocated the " ownership society " where everyone is a homeowner , if the administration of George W. Bush , under the influence of libertarian think tank Cato Institute?
ON BEHALF OF THE GENERAL INTEREST
The third hypothes ...
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