Why aren't Democrats prosecuting corporate crime on Wall Street?

Anyway, lots else got prosecuted under Bush. The accounting fraud at Enron, a Houston-based energy company with ties to the Republican Party, brought immediate indictments against individuals like Bush friend Ken Lay. One major firm, accounting giant Arthur Andersen, was forced out of business.

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The same thing with Worldcom, another accounting fraud prosecuted in the Bush era that landed its CEO in jail.

As it happens, the last major financial firm to be run out of business after being hit with criminal charges (prior to Arthur Andersen) was Drexel Burnham Lambert — and that was accomplished by President Ronald Reagan’s US attorney for Manhattan, a guy named Rudy Giuliani.

Of course, Bush’s record of corporate crime fighting was far from perfect. Much of the risk-taking that led to the 2008 collapse occurred under the nose of his regulators — but these practices started to explode during the Clinton years.

The bigger point here is that, if you’re really keeping a score card on who’s going after corporate America’s bad guys, the Democrats may talk a good game but have very little to show for it.

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