Essay --

No Jail Time for Big Bankers In the article â€Å"Why DOJ Deemed Bank Execs Too Big to Jail,† author Ted Kaufman reports how banking executives never serve jail time for their part in financial fraud. There are three main reasons that executives are not prosecuted: the American government is showing little effort in bringing the big corporation executives to justice, if the banks and executives are prosecuted, thousands of innocent people could be out of jobs, and the health of the financial industry may crumble. Mr. Kaufman wants his readers to understand that although the citizen’s deserve for these financial executives deserve to go to jail, over that past few years, it has been shown that not only that it hasn’t happened; it probably will not happen in the future either. Is it right that they can dodge going to prison for their greed and illegal activities, but a man who steals food from the grocery store to feed his hungry family serves years in prison? The answer is no, because some o f these banking executives have robbed the American people of their life savings and have put America’s banking system’s in a downward spiral with no real help by the government to help stop this and help bring the executives to justice. The American government has done very little to help in the efforts to bring these executive’s to justice. Congress didn’t oppose strengthening criminal enforcement of federal fraud laws regarding financial institutions after the 2009 financial crisis. They passed the House’s bill by a very large margin. The bill is called the Fraud Enforcement and Recovery Act. Even the Obama administration established a task force to oversee the investigations. Attorney General Eric Holder even said, â€Å"We will be relentless in our... ...ir jobs, their homes, and their financial stability. If the financial industry crumbles, it will be felt worldwide. When people lose their jobs, they are no longer to take out loans and make payments on the loans they already have. There is no money going into the banks. If the American financial institutions fail and the industry crumbles, stocks will plummet and businesses will close. So what’s the solution to the problem? Mr. Kaufman definitely is on to something. â€Å"Justice for All† should mean something. Why shouldn’t CEO’s be held accountable for their actions? If we continue to let them get away with it, they will continue to take their bonuses, cut corners, and not care that they are doing anything illegal, or at the very least, unethical. If we want to prevent the failing economy from happening again, we must stop these executives and hold them accountable.