SAC Capital Advisors’ guilty plea to insider trading is the latest example of financial fraud in which no major executive has been charged with a crime. On Thursday, the chief of the New York Fed spoke of a “lack of respect for law” and “deep-seated cultural and ethical failures” on Wall Street. Since the economic implosion, billions in fines have been assessed, banks have admitted illegality, but no top official has been indicted. Why can’t prosecutors win criminal convictions and prison time for Wall Street wrongdoers?...
Posted on: Mon, 11 Nov 2013 06:06:50 +0000
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