FDIC Conducting About 50 Criminal Investigations Involving Failed Banks
November 17th, 2010Mmm hmm.
Via: Wall Street Journal:
The Federal Deposit Insurance Corp. is conducting about 50 criminal investigations of former executives, directors and employees at U.S. banks that have failed since the start of the financial crisis.
The agency responsible for dealing with bank failures is stepping up its effort to punish alleged recklessness, fraud and other criminal behavior, as U.S. officials did in the wake of the savings-and-loan crisis a generation ago. More than 300 banks and savings institutions have failed since the start of 2008, but just a few have led to criminal charges being filed against bank officials.
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doesn’t just 50 criminal investigations seem low? 500 would seem more reasonable yet still low, unless multiple 100’s of banksters are included in each investigation…however, I imagine only the sad sap robo-signers with GED’s and a year of community college will do any time for doc fraud…
@ rondonjoe,
yup. They might throw in a couple peices of meat just to make it look like stew.
@ kevin.
“Mmm hmm.” That always cracks me up. Especially when it is really all the summary necessary.