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Chapter 10. How Investment Banks Inflate... > Did Wall Street Cross the Line?

Did Wall Street Cross the Line?

There are current regulatory proceedings investigating possible culpability in the financial markets. Did Wall Street cross the line of legality during the bubble?

The issue is primarily one about technical infractions. The regulations that govern financial transactions are detailed and complicated. An investor may get fleeced without any infraction of the rules having occurred. If infractions occurred, there may be no complaints; if complaints are made, there may be no investigations; if investigations are conducted, there may be no charges; if charges are filed, there may be no indictments; if indictments are issued, there may be no trials; if trials are conducted, there may be no convictions. Regulatory enforcement is a long and tortuous process that may result in nothing, even where something is warranted.


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