HKS Affiliated Authors
Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business and Government (on leave)
Charles W. Eliot University Professor
Excerpt
Excerpt
Wells Fargo’s board members are getting off too easy. Lawrence Summers, February 6, 2018, Opinion, "A question I am asked as frequently as any other is: “Why didn’t anyone go to jail for the financial crisis?” There was huge suffering, sufficient misbehavior that the largest banks had to pay well over $100 billion in fines, and in the past, people had gone to jail for financial shenanigans during the Depression and the S&L crisis. People are usually indignant as they ask the question." Link