5 Years Later, Wall Street Still Sucking Life Out of America Like Vampires at a Blood Drive
Only massive reform and no-holds-barred prosecutorial assault will drive a stake into the heart of this monster.
By Lynn Stuart Parramore
September 11, 2013
On Sept. 15, 2008, the Lehman Brothers collapse became the 9/11 of the financial world, sending the global economy into panic. Stocks plunged, credit dried up and working people were forced out of their homes. Jobs and pensions were wiped out in the ugliest financial episode since the Great Depression—mostly because the financial sector had gotten out of control..
Five years later, the big banks continue the most expansive crime spree in the history of capitalism, getting bigger, richer and bolder every day. Like undead creatures from a horror film, financial predators have spread themselves into every corner of society, preying and feeding and making us weaker. In an epic fail on the part of federal prosecutors and the SEC, no one at Lehman was ever prosecuted for financial shenanigans that included shady accounting practices former CEO Dick Fuld claims he didn’t know about. As the five-year anniversary approaches and the statute of limitations runs out, we can be sure that no one will ever pay for Lehmans’ crimes—except for us.