Comment by readthenotes1
6 months ago
If I recall correctly, the attorney general at the time (Eric Holder) told his peeps not to bring a case unless it was absolutely 110% rock solid. It was too much bother for them.
6 months ago
If I recall correctly, the attorney general at the time (Eric Holder) told his peeps not to bring a case unless it was absolutely 110% rock solid. It was too much bother for them.
What seemingly happened is they used it to leverage a settlement out of the banks[0] as part of the negotiated settlement that landed in 2013 was the explicit removal of a brief that was to be filed to carry out a lawsuit of this nature.
I wish I knew why they decided not to pursue such a rock solid case, but by 2013 it seems they reversed course on being 'hardline' in dealing with the banks.
This still doesn't excuse the fact the executives and board weren't held criminally liable, or at the very least all fired and banned from ever working in any part of the financial sector ever again, and stripped of their golden parachutes and money clawed back that they made during the time period.
[0]: https://www.vanityfair.com/news/2017/09/jamie-dimon-billion-...