Exactly five years after Phil Angelides’ Financial Crisis Inquiry Commission filed their report on financial sector wrongdoing in the global financial crisis, he continues to ask the Justice Department why none of the executives who oversaw that wrongdoing have been charged.
[B]ecause of the 10-year statute of limitations for financial fraud affecting banks and other types of financial institutions, there is still time to investigate and prosecute crimes committed in 2006 and 2007 -- the final period of wild excess before the mortgage market collapsed. But time is quickly running out.
Accordingly, I have sent a letter to Attorney General Lynch urging DOJ to immediately re-open the investigation into individual misconduct related to the packaging and sale of mortgage securities -- and do so before the statute of limitations on such misconduct expires. How DOJ proceeds over the next 18 months will speak volumes about its commitment to its new policies and to seeing that justice is served.
DOJ already has in its hands the roadmap to systematic impropriety on Wall Street. In 2010, the FCIC made public documents obtained from Clayton Holdings that clearly show, in black and white and in charts, how Wall Street bankers misled investors around the globe about the mortgage securities they were peddling.
HIGH IMPACT STORIES TOP COMMENTS
TWEET OF THE DAY
BLAST FROM THE PAST
At Daily Kos on this date in 2010—Medical Error, Liability, and Murtha:
An element of healthcare reform, one in which Democrats have acquiesced to Republican demands, is brought into sharper focus this week. The death of Rep. John Murtha, from complication from gallbladder surgery highlights a complex issue that Republicans have framed in terms of "junk lawsuits," but reformers think of it in terms of preventable medical errors. […]
What the tort reformers won't tell you is the extent to which medical liability has improved patient safety, including the establishment of organizations like Leapfrog Group. You'll hear all about the complaints of doctors complaining of having to perform "defensive medicine," and often justifiably so. There are additional costs to the system when doctors end up ordering unnecessary tests and procedures. But there are other means of addressing those issues, including a greater reliance on evidence-based care. Removing medical liability--already a minor contributor to out-of-control system costs--would likely come at a high cost for patient safety.
|
On today’s Kagro in the Morning show, Bernie fans came to hear Greg Dworkin say he won big. And it didn’t even hurt! Who turned out and why Who’s freaking out? Dropping out? Joan McCarter warns of yet another web freedom fight and more GOP obstructionism. Your “smart” toys are spying on you.
Find us on iTunes | Find us on Stitcher | RSS | Donate to support the show!