“Three years after a horrific financial crisis caused by massive fraud, not a single senior financial executive has been prosecuted and that’s wrong.”
Two years later, still no prosecution....
Why exactly have there been no prosecutions of high level Wall Street investment bank executives?
“Not exactly,” Ferguson says [Ferguson is the director of the Academy Award Winning Documentary, "Inside Job"]
“It’s important to bear in mind the direct personal incentive structures of many of the people involved,” Ferguson told Corporate Crime Reporter last week. “The revolving door phenomenon now effects the Justice Department and federal prosecutors to a very substantial extent.”
“The previous federal prosecutor for the southern district of New York, Mary Jo White, now does white collar criminal defense and makes a great deal more money than she did as a federal prosecutor. I think that phenomenon is very well entrenched, very thoroughly entrenched.”
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