The feds say they're finally going to go after bad guys on Wall Street

Twenty-five years ago, lawyers for the George H.W. Bush administration were rounding up more bankers than you could fit in a whole fleet of stretch Hummers. The feds threw no fewer than 1,706 defendants in the slammer amid the savings-and-loan debacle between 1988 and 1992, and charged many more. The Justice Department was prosecuting "the major corporate insiders -- CEOs, presidents, shareholders, directors and officers,"  wrote Lee Rawls, an assistant attorney general under President Bush, in response to a Government Accountability Office questioning whether even that was enough.Read full......(read more)

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