Corporate Prosecution: Double Standard or Government Weakness

In an interesting article in The New York Times, dated today, writer Jesse Eisinger discusses the Justice Department’s recent efforts to prosecute wrongdoing by large banks.  Specifically, Credit Suisse and BNP Paribas have been charged criminally with violations of federal criminal statutes.  While no large American banks or bankers have been charged since the financial […]

Justice Department Moving Cautiously to Charge Large Banks Criminally

Recent reports state that the U.S. Department of Justice is primed to charge two of the world’s largest banks with violations of U.S. criminal law.  News sources have reported that Credit Suisse and BNP Paribas are targets of Justice Department criminal investigations.  Please see the article in The New York Times about the investigations into […]

Decision of SEC Set Stage for Financial Crisis

In a meeting on April 28, 2004, the SEC made decisions that may have led to this fall’s financial crisis. On that date the SEC considered a request from large investment banks seeking an exemption for their brokerage arms from an existing rule, known as the net capital rule, which limited their amount of debt. […]