2011 Will Bring More De Facto Decriminalization of Elite Financial Fraud

2011 Will Bring More De Facto Decriminalization of Elite Financial Fraud
Bill Black, new deal 2.0: "The role of the criminal justice system with regard to financial fraud by elite bankers in 2011 is likely to reprise its role last decade - de facto decriminalization The Galleon investigation of insider trading at hedge funds will take much of the FBI's and the Department of Justice's (DOJ) focus. The state attorneys general investigations of foreclosure fraud do focus on the major players such as the Bank of America (BoA), but they are unlikely to lead to criminal liability for any senior bank officials. It is most likely that they will lead to financial settlements that include new funding for loan modifications."
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