Millions of Americans lost their jobs, houses, savings, and more when the housing market collapsed under the weight of mortgages that should never have been approved, let alone bundled and converted into worthless, toxic securities. And yet, no senior Wall Street bank executives were ever charged with a crime. Now one U.S. congressman is asking to look at the FBI files to find out why. [More]
Too Big To Jail
In every common-sense, everyday way, a corporation is not a person. Corporations don’t date, don’t have families, don’t go catch a movie on Friday night. They also don’t go to jail when they do something criminal. But in the eyes of the law, corporations enjoy many of the same rights — including free speech and religious expression — and protections afforded to individuals.
Is Attorney General Eric Holder all talk and no action? For the second time this year Holder has made it clear that the Justice Department does not believe that any corporation or executive is too big to jail. But an abundance of fines and a lack of actual prosecutions is enough to make one wonder if the declarations are just for show. [More]