Forgetting The Great Recession

Oct 23 2012 @ 4:00pm

William Cohan wonders whether financial crimes will go unpunished:

Should we just chalk [the recession] up to such simplified explanations as “animal spirits ran amok” and “these things happen occasionally”? Or should we continue to expend scarce political and law-enforcement resources trying to get to the bottom of what happened, and why, with a goal of holding the right people legally and financially accountable?

It’s a conundrum, especially since many Americans have lost enthusiasm for the fight. But the path we ultimately take will reveal to us and the world much about who we are as a people and what ethics, values and morality we stand for. It will also have serious lasting implications if we hope to avoid a rerun of what happened over the last five years. At the moment, the message we are broadcasting far and wide is: There will be no justice; there will be no accountability; let’s return to the status quo as quickly as possible.