Why didn’t any Wall Street CEOs go to jail after the financial crisis? (2019)

Re:Why didn’t any Wall Street CEOs go to jail after the fina... by kasey_junk on Tuesday August 24, 2021 @04:28PM (#28294562)

You’d need to prove that a “Wall Street CEO” told someone to commit mortgage fraud. That almost certainly didn’t happen.

Quite the opposite you’ll find all manner of examples of the CEO’s enabling things like anti-fraud and risk management teams.

The issue was the implicit organizational pressures between those parts of the companies and the lending/revenue arms.

Making a new class of law that makes those implicit conflicts a criminal responsibility of company CEOs seems extremely fraught, but more importantly those laws didn’t exist at the time.

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Re:Why didn’t any Wall Street CEOs go to jail after the fina... by jcranmer on Tuesday August 24, 2021 @04:35PM (#28294653)

> You’d need to prove that a “Wall Street CEO” told someone to commit mortgage fraud.

For it to be RICO, no you do not need to prove that. You need to prove more. You'd need to prove that the "Wall Street CEO" told someone to commit mortgage fraud, and then used the proceeds of that mortgage fraud to take control of an enterprise (which would presumably have to exclude the company of which he is CEO).

(https://www.law.cornell.edu/uscode/text/18/1962, for reference)

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