Why no jail time for Wall Street CEOs?
It’s probably the most asked question to come out of the financial crisis: why aren’t any Wall Street CEOs in jail? It’s asked on the message boards, over dinner, in the media, in Washington and in schools. Most people shrug and agree, someone important — Lloyd Blankfein at Goldman Sachs Group Inc., Stan O’Neill, formerly of Merrill Lynch & Co., or Dick Fuld, the former CEO of Lehman Brothers — should go to jail, right? A lot of us have tried to answer this question.