It is the 5th anniversary of the collapse of Lehman, AIG, and the GSEs. At this time 5 years ago, my assumption was that by today, legions of people would have already been prosecuted for their financial crimes.
That never happened.
I want to open the floor to discuss 3 very specific things:
1. What actual crimes were committed by banking executives, and who should have been prosecuted ? I want very specific examples of criminality, fraud, (include statutes if you know them) etc.
2. How successful would a decent prosecutor have been in obtaining convictions?
3. Why wasn’t anyone prosecuted? Aside from cowardice, what were the true reasons?
I have m own ideas and theories; if we get enough details, I will flesh it out into a WaPo column.
What say ye?