Breaking Securities Laws? You Don’t Really Need To Apologize

Just two months into her tenure as head of the Securities and Exchange Commission, Mary Jo White is making waves by questioning the agency’s long-standing policy of not requiring admissions of guilt when settling with financial wrongdoers. For many Americans, the 2008 financial crisis is the defining tragedy of their lives, as it’s resulted in millions of foreclosures, mass unemployment, and trillions of dollars in lost wealth. Yet despite all this suffering, only one senior banker – Kareem Serageldin — has been criminally convicted of mortgage-security related fraud, and the same multinational banks that dominated the landscape before the crisis still reign supreme, except now they’re bigger and more powerful than ever.
More in Time Magazine here.

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