Globalization: Social & Geographic Perspectives

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‘In Financial Crisis, No Prosecutions of Top Figures’ – NYT 4/14

April 16th, 2011 · 2 Comments
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“It is a question asked repeatedly across America: why, in the aftermath of a financial mess that generated hundreds of billions in losses, have no high-profile participants in the disaster been prosecuted?” Gretchen Morgenson and Louise Story investigate the reasons why and provide a list of specific crimes that could form the basis of charges against top executives.

Here’s a link to a radio interview with Story on WNYC’s Brian Lehrer Show: “No Arrests for Financial Crisis” (4/15/11)

The New York Times
April 14, 2011
Brendan McDermid/Reuters

In late 2010, then-Attorney General Andrew Cuomo sued the accounting firm Ernst & Young,accusing it of helping Lehman Brothers “engage in massive accounting fraud.”


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2 responses so far ↓

  • 1    andrewganga // Apr 24, 2011 at 10:21 pm

    No criminal charges have been filed against any of the individuals who took part in the crisis and yet I rarely hear this mentioned enough by anyone. Mass media has swept this issue away and as time goes by the “criminals” will eventually be forgotten. As a nation, media and politics have come together to keep the people at the top, at the top, by distracting the vast majority at the bottom.

  • 2    anthonymunozjr // Apr 27, 2011 at 5:08 pm

    The crisis is a relic of the past.

    The new focus is on taxing the rich. Yes, they should pay their fair share. But does giving the government greater revenue help the people?

    The government spends outlandish amounts of money on failed programs, D.A.R.E for example. Expenditures on public school students are almost 100% greater in comparison to private school students, and the expense does nothing to improve education; various countries spend less and continue to surpass American in math and science.

    It seems like more turns out to the less.

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