No More Refuge for Scoundrels

While the leaders of the world’s largest economies debate stimulus and regulation in London, let us hope they do not forget the compelling questions of crime and punishment. Rooted in the most massive swindles in financial history, the global crisis offers an unprecedented opportunity to prosecute the criminals whose machinations steered us toward disaster—and to deter them in the future.
Unfolding on the very doorstep of the G-20 meeting in London and in Washington is the instructive story of Joseph Cassano, former head of American International Group’s Financial Products Group, whose role in his company’s crash—which triggered the ruin of world money markets—may soon lead to criminal charges against him.

No More Refuge for Scoundrels