The Department of Justice has sent a letter to the NCAA asking why it does not hold a playoff to determine a college football national champion.
"Mr. Geithner expressed concern about the fragility of the financial system. His worry, according to these people, sprang from a desire to calm markets, a goal that could be complicated by a hard-charging attorney general."
"But several years after the financial crisis, which was caused in large part by reckless lending and excessive risk taking by major financial institutions, no senior executives have been charged or imprisoned, and a collective government effort has not emerged. This stands in stark contrast to the failure of many savings and loan institutions in the late 1980s. In the wake of that debacle, special government task forces referred 1,100 cases to prosecutors, resulting in more than 800 bank officials going to jail. Among the best-known: Charles H. Keating Jr., of Lincoln Savings and Loan in Arizona, and David Paul, of Centrust Bank in Florida.
Former prosecutors, lawyers, bankers and mortgage employees say that investigators and regulators ignored past lessons about how to crack financial fraud."