This week, we begin with an observation that prompted a question. The observation was this: “Biggest fish face little risk of being caught.” It was the title of a column by New York Times business writer Joe Nocera, after it was reported that the Justice Department decided not to prosecute the former CEO of Countrywide Financial, at one time the nation’s biggest mortgage lender. Nocera noted that few of the people most responsible for the subprime mortgage disaster and the financial crisis it triggered have been held accountable. The question is, Why not?
Need to Know’s Shoshana Guy sat down with Nocera to hear his take on the story of big fish and little fish.