Here's Why Only One Top Banker is in Jail for the Financial Crisis

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US former Credit Suisse executive Kareem Serageldin, January 14, 2013. He is the only major banker in jail for crimes related to the financial crisis.
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On May 25, 2006, a Houston jury convicted former Enron CEO Jeffrey Skilling and founder Kenneth Lay of fraud, conspiracy, and other crimes related to the energy company's collapse in November 2001.

As Sean Berkowitz, former U.S. Attorney for the Department of Justice, told reporters, "The jury has spoken, and they have sent an unmistakable message to board rooms across the country: You can’t lie to shareholders; you can’t put yourself in front of your employees’ interests."

Many Department of Justice officials hoped the Enron case would strike fear in the hearts of corporate America, but just two years later, the economy was in free fall. Today, more than five years after the biggest financial collapse since the Great Depression, only one major banker has gone to prison for crimes contributing to the Great Recession. 

Jesse Eisinger, senior reporter for ProPublica, decided to find out why. The result is his story in this week’s New York Times Magazine, a piece called "Why Only One Top Banker Went to Jail for the Financial Crisis." As Eisinger explains, the lack of prosecutions relating to the crisis have deep roots in the Department of Justice.