Looking Back on the Prosecution Failures after the 2008 Wall Street Crash
By James A. Kidney
Posted September 12, 2018
As the nation approaches the 10th anniversary of the demise of Lehman Brothers, which is popularly pegged as the beginning of the Great Recession, one is struck by the current events that tie back to the world-wide financial crisis of a decade ago.
Big Wall Street banks are as up to their necks in risky derivatives, as in 2008.
Once again, the political powers are reveling in a long bull market and listening to wealthy bankers proclaim a pressing need to be relieved of minimal regulation.
In the view of some, current threats to the market economy are reminiscent of 2008, along with pollyannaish predictions from lawmakers and regulators from the White House on down that all is sound. More…