Ohio’s attorney general said on Tuesday he won’t hesitate to file civil racketeering charges against Wall Street investment banks if his investigation finds they had a hand in fraudulent subprime lending.
While this seems a bit tentative, no doubt there are some uneasy investment bankers on Wall Street today. As well there should be. More than a few mortgage brokers have been going to prison for their roles in the frauds, it’s time investment bankers did too.
