Holy crap! A
last-ditch effort by federal and state law enforcement authorities to hold Wall
Street accountable for nearly bringing down the U.S. economy is unlikely to
lead to any criminal charges against big bank executives, according to a source
close to the investigation.
Barring a "hail mary pass," said the source, who
spoke on the condition of anonymity because the investigation is still ongoing,
the members of a task force President Barack Obama formed in January to
investigate fraud in the residential mortgage bond industry will instead most
likely bring civil lawsuits against some of the banks involved, though it isn't
clear when these cases might come.
That means any penalties for those accused of fraud or other
misconduct would be measured in dollars, not jail terms.,,,,,
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