Ten years after the global financial meltdown, not a single senior executive has been indicted on any criminal charges, although ample evidence was provided to the Department of Justice and other agencies with the power to penalize wrong doing.

We discuss the failure to prosecute the perpetrators with Professor Steven A. Ramirez who writes: “The government’s explanation for the lack of prosecutions is incoherent and unprincipled. From an historic point of view, the lack of prosecutions is also inexplicable… this failure to pursue any of the manifest criminal misconduct amounts to an historic breakdown in the rule of law without any colorable justification.”