Immaculate Conception Quotes
Actually a few minor characters were prosecuted for financial crimes committed during that period but none were prosecuted whose behavior caused or accelerated the meltdown, and no bank officers were prosecuted despite the FBI reporting that hundreds of thousands of Mortgage Foreclosure involved perjury by bank officers in a pattern that was used by most of the large major banks. The Obama administration was in the dilemma of either choosing one or two bank officers of whom to make an example or if all those who had committed serious crimes were prosecutors, it would involve thousands of the officers of almost every major bank and tens of thousands of officials and mortgage related firms. These were among the wealthiest and most influential people in the country, and there would be few left to build the American Banking System back up when that was one of our most important national priorities. They were also amongst the largest political contributors to both political parties. So the government bailed the bankers out financially, allowed them to maintain million dollar of more salaries and bonuses, and gave the entire batch of people who broke the law a de facto immunity from criminal prosecution. A further complicating factor was that many of the most egregious, greedy, and publicly harmful were not illegal as a result of much change in the law as a part of financial deregulation or were new schemes that the financial industry had successfully lobbied to prevent regulation as with Derivatives.
