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How the Government Failed to Fix Wall Street
In new accounts, insiders reveal why Wall Street big shots weren’t prosecuted and reforms faltered.
The Daily Beast
Alex Klein
10/1/2012
Excerpt:
"Four years have passed since Lehman Brothers’ collapse; two since Obama signed financial reform into law; one since the occupation of Zuccotti Park. But the Justice Department has yet to convict a single high-profile banker. And despite the Dodd-Frank reform package, critics suggest that the system is hardly safer than it was in 2008—from JPMorgan’s beached “whale” to MF Global’s missing billions. In a recent report (PDF), the International Monetary Fund called the capital markets just as “vulnerable” to crash and fraud as they were four years ago." - (bold and color emphasis added)
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View the complete article at:
http://www.thedailybeast.com/article...ll-street.html
In new accounts, insiders reveal why Wall Street big shots weren’t prosecuted and reforms faltered.
The Daily Beast
Alex Klein
10/1/2012
Excerpt:
"Four years have passed since Lehman Brothers’ collapse; two since Obama signed financial reform into law; one since the occupation of Zuccotti Park. But the Justice Department has yet to convict a single high-profile banker. And despite the Dodd-Frank reform package, critics suggest that the system is hardly safer than it was in 2008—from JPMorgan’s beached “whale” to MF Global’s missing billions. In a recent report (PDF), the International Monetary Fund called the capital markets just as “vulnerable” to crash and fraud as they were four years ago." - (bold and color emphasis added)
.........................................
View the complete article at:
http://www.thedailybeast.com/article...ll-street.html