Relevant:
- Why CEOs Avoided Getting Busted in Meltdown: William Black
- William K. Black: 'Pervasive' Fraud by Our 'Most Reputable' Banks
- Thinking Further About Wall Street Looting
- Bank Rescue Programs: Setting the Stage for More Looting?
- David Wilcox: LIBOR Scandal and Concentrated Corporate Control Are Connected
2013-08-19 — neweconomicperspectives.org
``Because banks will not make criminal referrals against their own CEOs, this means that criminal referrals have virtually vanished against the "accounting control frauds" that drive our recurrent, intensifying financial crises. As George Akerlof and Paul Romer explained in their famous 1993 article ("Looting: The Economic Underworld of Bankruptcy for Profit") the death of prosecutions of the controlling officers of banks will lead to accounting control fraud becoming a "sure thing."''
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