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Comment by dmix | Hacker News Reader

Federal investigations always take forever.

It's a real problem at this point. People still say "nobody went to jail for the GFC" even though over 200 people did in the US; it's just it took a decade and nobody actually paid attention a decade later when they went to jail.

Fall guys.

Highest Profile Individuals Convicted Kareem Serageldin (Credit Suisse): Widely recognized as the only high-level Wall Street executive to serve prison time directly related to the GFC.

No that's still about a decade out of date. TARP jailed IIRC 30 bank CEOs, it's just the cases took until 2017 or so and the meme had already implanted itself in people's brains. DoJ got so tired of people saying this that they put a database of all their convictions up but unfortunately it got DOGEd last year.

Many of the TARP convictions (the ones that involved the SEC) can still be found here, though:

https://www.sec.gov/enforcement-litigation/litigation-releas...

Very cool website. Looking through a few of those examples, holy Jesus there is a lot of fraud out there.

Fun read.

I'm sad DOGE killed the TARP litigation database because there was some wild stuff on it

What about the fraud that led up to the GFC -- pre-TARP? I think that's what people meme about.

The TARP investigations jailed people for that; that was it's main purpose. Taking the funding window required an audit, and people either lied on the audit (and got busted for that) or admitted to illegal lending or valuation on it (and got busted for that)

For a multi-trillion dollar fuckup involving an entire industry... that seems low.

TARP still has active IGs; if you know of criminal activity they missed you can report it to them.

The pain was multi-trillion, but the original fraud that caused the collapse wasn't.

> It's a real problem at this point. People still say "nobody went to jail for the GFC" even though over 200 people did in the US; it's just it took a decade and nobody actually paid attention a decade later when they went to jail.

Did over 200 people in the US go to jail for the GFC? I just tried looking and I only see 1 person in the US. Iceland had about 25.

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