, Columnist
The Biggest Lie of the New Century
The list of wrongdoing by banks is too long for senior executives to credibly claim that they were unaware of what was going on within their companies.
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Yesterday, we looked at why bankers weren't busted for crimes committed during the financial crisis. Political corruption, prosecutorial malfeasance, rewritten legislation and cowardice on the part of government officials were among the many reasons.
But I saved the biggest reason so many financial felons escaped justice for today: They dumped the cost of their criminal activities on you, the shareholder (never mind the taxpayer).