Monday, July 11, 2011

Why No One on Wall Street Is Going to Jail

Gretchen Morgenson and Louise Story, The New York Times
The report begins: "As the financial storm brewed in the summer of 2008 and institutions feared for their survival, a bit of good news bubbled through large banks and the law firms that defend them. Federal prosecutors officially adopted new guidelines about charging corporations with crimes - a softer approach that, longtime white-collar lawyers and former federal prosecutors say, helps explain the dearth of criminal cases despite a raft of inquiries into the financial crisis."
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