Bankers may yet face federal prosecution for their roles in the 2008 financial crisis, U.S. Attorney General Eric Holder said today. “We have ongoing investigations that may perhaps produce individual prosecutions,” Holder said, defending the Justice Department’s handling of probes that have resulted in large financial settlements but few criminal prosecutions. [Bloomberg] Continue reading »
Gretchen Morgenson and Louise Story have a great piece in The New York Times about the curious fact that the greatest financial collapse in many decades has produced no prosecutions of any leading figures anywhere.
WASHINGTON – President Barack Obama will nominate former federal prosecutor Mary Jo White to head the Securities and Exchange Commission, the White House said on Thursday, showing a desire to have a tough cop policing Wall Street.
White, the former U.S. attorney for the Southern District of New York who was known for prosecuting terrorists and mob figures, would become the third consecutive woman to hold the powerful post.
She would succeed current SEC Chairman Elisse Walter, who took over in December after predecessor Mary Schapiro stepped down.
By VFC: At the conclusion of each week, VFC's Stock House examines some news items, stocks and stories that made headlines during the previous trading week, but may also make headlines or influence trends during the upcoming week as well.
Watch Collar Watch examines the limitations that the Supreme Court's ruling in the Skilling case puts on the prosecution of corporate executives for misconduct that does not involve lining their own pockets.