Why Aren't More Dishonest Bankers In Jail?
The Inquiry
BBC
4.6 • 1.7K Ratings
🗓️ 2 December 2014
⏱️ 24 minutes
🧾️ Download transcript
Summary
Perhaps the most striking feature of the global financial crisis has been that no top banking executive has been successfully prosecuted for their role in bringing it about in the first place. The period covered by the statute of limitations is running out so it is conceivable none ever will. Yet the word 'fraud' appears 157 times in the final report of the US Financial Crisis Inquiry Commission. So why are we not seeing prosecutions and prison terms, as in previous financial scandals? Guests include a former prosecutor, a law professor, an economist and a recently-retired US Senator.
(Image: Shutterstock - Val Lawless)
Transcript
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| 0:28.9 | Hi thanks for downloading the inquiry here on the BBC World Service. |
| 0:34.0 | It's a new weekly program. |
| 0:35.9 | Our job is to add in-depth analysis to one big question from the news. |
| 0:41.6 | We hope you like it. |
| 0:43.0 | BBC World Service, this is Helena Merriman with the inquiry. |
| 0:47.0 | This week in the wake of another financial scandal we're asking why aren't more |
| 0:58.8 | dishonest bankers going to jail. On the 12th of November, after a year-long global investigation, |
| 1:09.0 | six banks were fined over four billion dollars for rigging the foreign exchange market. |
| 1:15.0 | Regulators promised that individuals would be held accountable. |
| 1:20.0 | Yet again, there are groups within banks who are exploiting lax controls. |
| 1:24.8 | Politicians rush to condemn the banks. |
| 1:27.4 | Yet again, a massive scandal and the worst thing... |
| 1:30.1 | Yet again, because this scandal came hot on the heels of a previous one, libel. |
| 1:35.9 | It's reprehensible behavior and if you're asking me should those actions be dealt with, |
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