I wrote last week that our nation really needed to step up to the plate with regards to prosecuting those responsible for the Great Recession. People willingly broke laws to engage in speculative behavior that sent our economy into a mire from which we are just now recovering, and they’ve gotten away with it….until recently. Last Thursday the Department of Justice released a memo indicating its willingness to prosecute those individuals responsible for the greatest economic crisis of our generation. The article I link to includes this important quote:
“One of the most effective ways to combat corporate misconduct is by seeking accountability from the individuals who perpetuated the wrongdoing,” deputy attorney general Sally Q. Yates wrote in the memo. “Such accountability is important for several reasons: it deters future illegal activity, it incentivizes changes in corporate behavior, it ensures that the proper parties are held responsible for their actions, and it promotes the public’s confidence in our justice system.”
Someone gets it. Let’s hope they actually follow through with their promise.
In the meantime, I highly encourage you to set yourself a movie date in December for the Brad Pitt flick “The Big Short”. It’s based upon the book by the same name and written by Michael Lewis of “Moneyball” and “The Blind Side” fame. The story follows a few individuals and their decisions leading up to the Crash of 2008, but more importantly it underscores the blatant, outright greed, demonstrated at the expense of an entire middle class.
Maybe, we finally have the passion to bring to justice those responsible for the ruination of our economy. #vote2016