Phil Angelides urges tougher criminal probe into
WASHINGTON — Phil Angelides, who chaired the government commission that investigated the financial crisis, said the Justice Department should pursue more criminal cases against Wall Street executives to restore the faith of average Americans in U.S. markets.
“Restoring that faith will require bringing a renewed sense of urgency to the mortgage securities fraud investigation, and a willingness to follow the evidence wherever it leads — even to criminal prosecutions of bank executives and mortgage lenders of any size,” Angelides, the former California state treasurer, wrote in an opinion article Tuesday in Politico.
“Americans need to know that law breaking at the highest levels will not be countenanced or allowed to jeopardize our financial system and economy,” he said.
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