Should Wall Street Bankers Go to Jail?

Should Wall Street Bankers Go to Jail?


My bet is that if you ask any ordinary guy on the street, you'd get a loud "sure" out of that question. Apparently I'm not the only one to think so, either. BNET agrees. Apparently other professionals do too.


A UC criminologist agrees that the fear of prison can keep white collar crime rates down. Others point out that rich wall street bankers don't have any fear of civil fines and penalties. For example Goldman chief Lloyd Blankfein is a billionaire several times over, so getting hit with even a million dollar fine is peanuts.

An even better example is Maurice Greenberg, the former AIG chief, who paid a $15 million fine to settle federal charges that he had misrepresented the insurance giant's financial performance. In the process he admitted that if there had been jail time, he'd not have settled.


As far as most people are concerned, these rich wall street bankers drove our economy into the dumpster, cost thousands of people their homes, put several million people out of work, and they deserve some jail time.

Reports are that the mess at Goldman Sachs is being investigated for criminal charges. 'bout time.

Ron Burdge
Helping consumers protect themselves since 1978.

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ABOUT THE AUTHOR

Known nationwide as a leading Lemon Law attorney, Ronald L. Burdge has represented literally thousands of consumers in "lemon" lawsuits and actively co-counsels and coaches other Consumer Law attorneys. From 2005 through 2018, attorney Ronald L. Burdge has been named as the only Lemon Law Ohio Super Lawyer by Law and Politics magazine and Thomson Reuters Corp., Professional Division. Burdge restricts his practice to Lemon Law and Consumer Law cases. The Ohio Super Lawyer results are published annually in the January issue of Cincinnati Magazine. Ronald L. Burdge was named Consumer Law Trial Lawyer of the Year 2004 by the National Association of Consumer Advocates, the nation's largest organization of consumer law private and government attorneys. "Your impact on the auto industry has been magnified many times over because of the trail you blazed for others," stated NACA's Executive Director, Will Ogburn. Burdge has represented thousands of consumers in Ohio, Kentucky and elsewhere since 1978 and is a frequent lecturer to national, state and local Bar Associations and Judicial organizations. Burdge is admitted to Ohio's state and federal courts, Kentucky's state courts, and Indiana's federal courts. Other court admissions are on a "pro hac" temporary, case by cases basis.