DOJ: We Don’t Know How Many Execs Convicted of Financial Crimes


The U.S. Justice Department says it doesn’t know how many executives have been convicted of wrongdoing in the financial crisis of 2008-2009, the Wall Street Journal reports. That is because the department doesn’t keep count of the numbers of board-level prosecutions, it told Sen. Charles Grassley (R-IA), top Republican on the Judiciary Committee.

Commentators say it shouldn’t be difficult to gt the numbers. “It’s not a big number to count, that’s for sure,” said Chris Swecker, who ran the FBI’s criminal division from 2004 to 2006. William Black, a former bank regulator, notes that the Government Accountability Office produced such numbers in a 1993 report on the savings-and-loan crisis of a generation ago. “I can tell you why you wouldn’t keep the data” now, he said. “Because it would be really embarrassing.” The full article is available only to paid subscribers.

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