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When the Financial Crimes of the Elite Go Unpublished

Steve Kroft has been reporting on the financial crisis since it became public.


Kroft: Why have no banking executives been prosecuted?

This video summarizes 60 minutes' efforts at reporting the systemic fraud and meltdown as it was happening.

The video is extraordinary in that Kroft laments that nothing has been done by the Federal government to hold individuals accountable and that he would no longer pursue stories along these lines.

Quotes from the video

[0:15] I don't think there's been any accountability. So many people who were totally irresponsible walked away with so much money. And some people were taken totally "to the cleaners". It was a disgrace.
[4:55] The mantra has been that a lot of unethical behavior may have taken place - irresponsible and wreckless behavior, greed on Wall Street - that led to this, but "that doesn't necessarily mean crimes were committed or laws were broken". And I think, based on a lot of the reporting that we've done, I think that's a rather lazy interpretation of things.
[5:18] I think this is the last story I'll do about nobody being held accountable, because I've really sort of given up. I don't think that the Federal government - either the SEC or the Justice Department - are going to bring in any cases against individuals. I just don't think that they're going to.
Officer, it is no longer about the economy. It is about honor, justice and human dignity.