Why nobody goes to jail over the 2008 collapse

http://www.torontosun.com/2011/10/26/obama-sees-no-evil

Quote:

U.S. President Barack Obama was recently asked why no Wall Street executives have been prosecuted or imprisoned for their role in the 2008 global economic crash.

He replied:

Quote:

“On the issue of prosecutions on Wall Street, one of the biggest problems about the collapse of Lehman’s and the subsequent financial crisis and the whole subprime lending fiasco, is that a lot of stuff wasn’t necessarily illegal, it was just immoral or inappropriate or reckless.”

That’s absurd.

William Black was a senior government regulator at the time of the Savings & Loan (S&L) crisis in the U.S. in the late 1980s — a significant but smaller financial scandal in which 1,800 banking officials were convicted of felonies, with more than 1,000 jailed......