From seekingAlpha, “We still have not seen any of the real villains of this crisis be brought to justice.”
If a person murders another they can get the death penalty. But if a banker is responsible for fraud causing trillions of dollars of losses, affecting millions of people, the bankers claim ignorance.
And they not only get to keep their bonuses that were collected illegally, but they aren’t charged with any criminal activity.
Only in America will you see this. This isn’t allowed in Japan, Canada, or Europe. And it certainly isn’t allowed in China.
Perhaps many of you have forgotten the dotcom charade. I certainly haven’t. Thousands of people should be in prison, from Wall Street analysts and bankers involved in irresponsible IPOs, to executives and others involved in insider trading. But only a few were indicted.
Most likely, this current crisis will share a similar fate because the media will continue to distract attention away from the real criminals and focus on Madoff and Stanford. But remember, neither had anything to do with the banking crisis.