Whether Bush or Obama, the end result is very much the same. Billions upon billions were wiped out yet somehow nobody is in jail. One year after the Lehman failure and three after the subprime bubble burst, no executives have been charged. Talking with schoolchildren about responsibility is great but actions would be much better. Asking those involved in the crisis to work through the crisis sounds like wishful thinking. CNBC on the "one year since Lehman" questions:
One year after the collapse of Lehman, the bailout of AIG, and the near-implosion of the U.S. financial system, not a single Wall Street CEO has been called to account by criminal authorities. Some are starting to ask why.And from CNNMoney, what has happened since the real estate bubble popped.
"Investors expect to see the feds prosecuting top executives who committed securities fraud and misled investors," said New York attorney Jacob Zamansky, who represents investors in various claims against Wall Street firms.
Three years after the housing bubble popped, federal prosecutors have yet to bring a case against the executives whose firms took part in some of the worst excesses of the subprime mortgage market.
It's not like there's a shortage of abuses to investigate. The landscape is littered with the wreckage of financial institutions that crashed under the weight of bad loans, costing shareholders and taxpayers billions of dollars.
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