Senator Warren Asks….Why Have No Bankers Gone To Jail…in the foreclosure crisis?

WASHINGTON — Sen. Elizabeth Warren (D-Mass.) raised the stakes of her quest to find out why a single Wall Street bank has not been prosecuted in the aftermath of the financial crisis Tuesday, sending a letter to the heads of three federal agencies.
Warren, a member of the Senate Committee on Banking, Housing & Urban Affairs asked Attorney General Eric Holder, current Securities and Exchange Commission Chairwoman Mary Jo White and Federal Reserve Chairman Ben Bernanke whether they had done any cost-benefit research into prosecuting a bank versus settling with one, which is equivalent to a slap on the wrist for a profitable financial institution.
“Have you conducted any internal research or analysis on trade-offs to the public between settling an enforcement action without admission of guilt and going forward with litigation as necessary to obtain such admission and, if so, can you provide that analysis to my office?” Warren said in the letter.
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