Perhaps, finally the hue and cry to prosecute those responsible for the 2008 financial crisis is having an impact. It looks as if the Department of Justice is changing its tune. This last Wednesday, the DOJ announced a new policy to go after the individuals who have committed financial crimes.
Deputy Attorney General Sally Yates outlined the new approach in a speech at NYU law school. The DOJ will now pursue criminals “regardless of whether they commit their crimes on the street corner or in the boardroom,” she said. “A crime’s a crime.”
Maybe I’m just being cynical, but I’ll believe it when I see it. My peers have much the same view. Just the day before the announcement was made, Michael Winston, author of World-Class Performance: The Commitment; The Pursuit; The Achievement, commented in the Huffington Post and recounted the DOJ’s frequent changes in position. He said that they throw up “a smokescreen activated every six months or so to create the illusion of law enforcement.” He nailed it and basically predicted what the DOJ would do the very next day!