Filed Under:Your Practice, Regulatory

Why No Financial Crisis Prosecutions? Ex-Justice Official Says It’s Just Too Hard (ProPublica)

In the wake of the 2008 financial crisis, the SEC has filed civil cases against 81 firms and individuals, and it has negotiated almost $2 billion in settlements. And yet, there have been no actual prosecutions of Wall Street executives. Why? Assistant Attorney General Lanny Breuer told CBS that the Justice Department was persuing every case that they think they can realistically defend. “I get it. I find the excessive risk taking to be offensive,” said Breuer. “I may personally share the same frustration that American people all over the country are feeling, that in and of itself doesn’t mean we bring a criminal case.”

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