The official, David Cardona, told the Wall Street Journal that bringing financial wrongdoing to account is "better left to regulators," who he says are doing a "fine job" bringing civil cases.
It’s an issue we and others [1] have noted again [2] and again [3]: Years after the financial crisis, there have still been no prosecutions of top executives at the major players in the financial crisis [4].
Why’s that? Well, according to a now-departed Justice Department official who used to be in charge of investigating such matters, the Justice Department has decided that holding top Wall Street executives criminally accountable is too difficult a task [5].
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The driver in a bank robbery goes to prison, too, even if he didn't set foot in the bank. If I give you a weapon to kill someone, I, too, go to jail. So, why is it so "hard" or "complicated" holding the CEO's, CFO's, and other players ACCOUNTABLE for what their company did? Or does THAT only occur at bonus/stock option payout time? Maybe if there weren't so many prior employees of Wall Street now holding positions of power and authority in the regulatory/prosecutorial part of the government that oversees these things, there would be MORE focus.
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