When will the Justice Dept. get involved in financial crisis?
David Dayen at FireDogLake wonders why no major Wall Street figure has been convicted of fraud since the beginning of the financial crisis:
I don’t know how you keep hearing these stories of fraud – accounting fraud, investor fraud, what have you – without the Justice Department getting involved. We want to make banking boring again, and the simplest way to do that is by making absolutely clear that anyone who takes these kinds of risks and plays these kinds of games will go to jail for a long time. If we had a culture of accountability in Washington that would already be happening.
Also, This American Life provides a catchy show tune, “Bet Against the American Dream,” that helps explain how the banksters got rich while America’s economy crashed.