Friday, April 15, 2011

Get Out of Jail Free Cards

I’ve already written too much today. This isn’t hard to understand.

In Financial Crisis, No Prosecutions of Top Figures

”“When regulators don’t believe in regulation and don’t get what is going on at the companies they oversee, there can be no major white-collar crime prosecutions,” said Henry N. Pontell, professor of criminology, law and society in the School of Social Ecology at the University of California, Irvine. “If they don’t understand what we call collective embezzlement, where people are literally looting their own firms, then it’s impossible to bring cases.””

That’s deregulation for you. Enough said.

Don Brown
April 15, 2011

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