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Monday, October 05, 2015

Ben Bernanke: Execs Should Have Gone to Jail

From an interview in USA Today:

The decision about whether to prosecute individuals wasn't up to him, [Bernanke] says. "The Fed is not a law-enforcement agency," he says. "The Department of Justice and others are responsible for that, and a lot of their efforts have been to indict or threaten to indict financial firms. Now a financial firm is of course a legal fiction; it's not a person. You can't put a financial firm in jail."

From another report:

Asked if someone should have gone to jail, he replied, "Yeah, I think so."

There's a video of the interview at the first link.

    Posted by on Monday, October 5, 2015 at 12:24 AM in Economics, Financial System | Permalink  Comments (42)


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