Bernanke: Wall Street execs should have gone to jail for crisis

[deminks]

http://www.chicagotribune.com/business/ct-bernanke-wall-street-jail-20151005-story.html

Former Federal Reserve Chairman Ben Bernanke says some Wall Street executives should have gone to jail for their roles in the financial crisis that gripped the country in 2008 and triggered the Great Recession.

Billions of dollars in fines have been levied against major banks and brokerage firms in the wake of the economic meltdown that was in large part triggered by reckless lending and shady securities dealings that blew up a housing bubble.

But in an interview with USA Today published Sunday, Bernanke said he thinks that in addition to the corporations, individuals should have been held more accountable.

"It would have been my preference to have more investigations of individual actions because obviously everything that went wrong or was illegal was done by some individual, not by an abstract firm," Bernanke said.

Asked if someone should have gone to jail, the former Fed chairman replied, "Yeah, I think so." He did not, however, name any individual he thought should have been prosecuted and noted that the Federal Reserve is not a law enforcement agency.

(end snip)

Bernanke out peddling his new book today. This is one for the 'no shit, Sherlock' file.

[PoliticAverse]

1. "the Federal Reserve is not a law enforcement agency."

They do have their own police force though: https://en.wikipedia.org/wiki/Federal_Reserve_Police

[CountAllVotes]

2. Speak for yourself Ben

Who is first? YOU many hope!

[KamaAina]

3. Bernanke making sense?!

[HooptieWagon]

4. Wall Street execs bought insurance...

...a POTUS and AG to shield them from prosecution.