Federal prosecutors have come in for considerable criticism over their failure to press criminal charges against executives of financial institutions whose stumbles led to the global financial crisis. As Southern District of New York Judge Jed Rakoff pointed out in his blistering January 9, 2014 opinion column in The New York Review of Books (
Banking-related litigation
Commercial Banks: Closures, Lawsuits Continue to Mount
By Kevin LaCroix on
Posted in Failed Banks
As has now become a familiar routine, this past Friday night the FDIC took control of several more commercial banks. The seven additional banks seized on Friday bring the year to date total number of failed banks to 139, and the total since January 1, 2008 to 304. At the same time, lawsuits involving…