Ben Protess and Susanne Craig, writing for the New York Times:
The Securities and Exchange Commission’s eight-member Lehman Brothers team, having hit one dead end after another over the previous two years, concluded that suing the bank’s executives would be legally unjustified. The group, noting that prosecutors and F.B.I. agents had already walked away from a parallel criminal case, reached unanimous agreement to close its most prominent investigation stemming from the financial crisis, according to officials who attended the meeting, which has not been reported previously.
Here’s what’s frustrating about the whole thing: if what these guys did to (nearly) bring down the world financial system was legal, then isn’t that the problem? Why haven’t we created laws to make what they did illegal?
Isn’t that the point of laws?