Matt Taibbi: If an Individual on Wall Street was Punished, Banks Would Take Note (VIDEO)
In this “Viewpoint” Web exclusive, Matt Taibbi, contributing editor for Rolling Stone, talks about how the lack of any individual prosecutions relating to the 2008 financial crisis has emboldened Wall Street. Taibbi recently took to task Attorney General Eric Holder and the Department of Justice for failing to bring any cases against Goldman Sachs in a Rolling Stone piece.
“I’ve heard this over and over again from people who work on Wall Street: that the reason that these guys do what they do so brazenly is because they have absolutely no fear of punishment anymore,” Taibbi says. “Even if they do fine the companies, which they have done often enough — well, not often enough — but they have done often in the last few years, there’s been almost not a single instance of an individual suffering in any way for any of this stuff.”
Taibbi goes on to suggest that people who want to see Wall Street held accountable should try to vote for attorneys general who “have real guts” and are willing to take on the banks’ high-priced lawyers.