Making the banks pay | The Sunday Edition with Michael Enright | CBC Radio.
In the aftermath of the 2008 financial crisis we all had one question in our minds: How many leading bankers are going to jail and for how long?
The answer of course was a) none and b) not applicable. The matter of why nobody went to jail has never been successfully addressed or answered.
Things went a bit differently in this program’s favourite little corner of the world, Iceland. A year ago, the former CEO and Chair of one of the biggest failed banks in the country both went to jail.
The sentences were five years and five-and-a-half years. Interestingly, the chief prosecutor was a former small town policeman who knew a crook when he saw one.
It was said by some that there are a few banks and businesses which are too big to fail. But two events, one in Canada and one in Europe in the last month or so, carry hope to those who thirst for justice and fairness and honesty in the ranks of high finance and big business.
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