2015 Spurred Billions in Bank Fines, But Not Enough for Warren
- Senator's staff issues report highlighting `rigged justice'
- Prosecutors and SEC called out for not punishing individuals
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Wall Street’s most famous critic has offered her assessment of how good a job authorities did last year punishing corporate wrongdoers. The verdict, not surprisingly, is that Elizabeth Warren is not impressed.
In a 10-page report titled “Rigged Justice: 2016,” the U.S. Senator’s staff cited 20 cases in which they say prosecutors showed “timidity” by not pursuing individuals for civil or criminal misdeeds. No executives at Citigroup Inc., JPMorgan Chase & Co., or Deutsche Bank AG were accused of wrongdoing in cases alleging rigged currency markets and the misleading of investors, her office wrote in the document released Friday. The investigations led to their companies paying billions of dollars in penalties.