Obscure government agency has a plan to put Wall Street CEOs in prison

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Obscure government agency has a plan to put Wall Street CEOs in prison

Obscure government agency has a plan to put Wall Street CEOs in prison

The Charlotte Observer-

Since the 2008 financial crisis, one obscure federal agency has succeeded in doing what many thought was impossible: sending bankers to prison.

The agency has charged 85 bankers from across the country with a crime over the last few years and already sent 36 to prison. The former chief executive of Virginia’s Bank of the Commonwealth, who was accused of contributing to the 2008 financial crisis through the bank’s “brazen greed and dishonesty,” was sentenced to more than 20 years.

But eight years after it was established, the Office of the Special Inspector General for the Troubled Asset Relief Program or SIGTARP, has grown frustrated. While it has succeeded in prosecuting senior executives of mid- to small-sized banks for various misdeeds, it has failed to do the same to the CEOs of large Wall Street firms.

[THE CHARLOTTE OBSERVER]

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