Lehman Brothers' bankruptcy -which remains the largest bankruptcy in U.S history- precipitated the Great Recession that lingers on today and cost the U.S. economy more than $22 trillion, according to a study by the Government Accountability Office released last year. (sources: billmoyers.com, huffington post)
To date, no executives have faced prosecution for the widespread mortgage fraud that fueled the bubble. The failure to prosecute means that the next crisis is more likely and can be far larger, because for bank executives the financial benefits of committing fraud are huge, and the risks are practically zero. (source: interview with William Black, former bank regulator, at billmoyers.com)
Don't keep hitting the snooze button, Wake Up!
Read the Huffington Post article about the cost of the recession
Read William Black's interview at billmoyers.com