#59: Chicken**** Prosecutors: Why No One Went to Jail for the Housing Crash
James Comey wasn’t the nation’s embattled former FBI Director in 2002; he was the top federal prosecutor in Manhattan. It was around then that he gave a speech to a group of fellow attorneys -- men and women with impeccable courtroom records. He had a few... harsh words.
Some of the biggest banks and financial institutions had a big part in the 2008 crash. Millions lost homes, jobs and savings – yet no one at the top went to jail.
Our guest says it’s because federal prosecutors have lost the will, the skill and the need to prosecute the executives who did the damage.
Jesse Eisinger, senior reporter at ProPublica, is the author of “The Chickenshit Club: Why the Department of Justice Fails to Prosecute Executives” just published by Simon & Schuster.
Can't get enough? Check out Eisinger's radio-friendly conversation with NPR's Terry Gross on Fresh Air here.