All Commentary
Friday, February 3, 2012

Big Banks Escape Fraud Punishment


“Even as the Securities and Exchange Commission has stepped up its investigations of Wall Street in the last decade, the agency has repeatedly allowed the biggest firms to avoid punishments specifically meant to apply to fraud cases.” (New York Times)

It’s called “regulatory capture.”

FEE Timely Classic
“Business–Government Collusion” by Eric-Charles Banfield