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Wall Street CEOs still not in jail
Faces of villains who had a hand in the cause of the financial collapse are appearing around the world. They’re being prosecuted in their country’s court systems and some are going to jail.
Propeller But one place this isn’t happening is the United States.
It’s an idea that has been brought up, however, several times, by US Lawmakers.
“There really is a crisis in this country and I don’t think it’s a populist statement,” said Sen. Ted Kaufman, (D-DE). “I just think there’s a crisis in terms of people thinking there are two different sets of rules.”
In France, Jerome Kerviel tried to play by his own rules when he took part in extremely risky betting on the markets, which left the French Bank Societe Generale in the midst of scandal.
The judge at Paris’s Palais de Justice said he broke rules, threatened the stability of his firm and of global financial order. He was given three years in prison, a sentence that drew gasps from those present in the courtroom, and also ordered to pay the equivalent of about $7 Billion.