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The Pitfalls and Prospects of Bank Prosecutions
The past two years have seen the largest number of bank failures in recent U.S. history, with 157 in 2010 alone, as a result of the collapse of the housing and subprime mortgage markets (as of Dec. 22, 2010, FDIC Failed Bank List, http://www.fdic.gov/bank/individual/failed/banklist.html). These failures led to the Federal Deposit Insurance Corporation's (FDIC) November 2010 announcement of 50 criminal investigations into the activities of former executives, directors and employees of failed banks. Jean Eaglesham, U.S. Sets Fifty Bank Probes, Wall St. J., Nov. 17, 2010. The DOJ Criminal Division also has announced the creation of its Money Laundering and Bank Integrity Unit, which reiterated that financial crimes, and financial institution matters, remain top priorities.
Notwithstanding these announcements, other considerations suggest that a dramatic increase in criminal prosecutions of financial institution directors and officers is not likely.
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Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
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