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09.04.13 | Articles

Why So Few Prosecutions Connected to the Financial Crisis?

New York Law Journal

Many observers have asked why so few criminal cases have been brought to hold individuals accountable for financial transactions that contributed to the financial crisis of 2007 and 2008. This article suggests possible reasons for the Department of Justice's charging decisions to date, including its decided preference for civil rather than criminal charges. The article contrasts the cases arising from the recent financial crisis with the wave of accounting fraud prosecutions brought about 10 years ago.

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