Monday, May 03, 2010

Deja Vu? Drexel Burnham and Goldman Sachs

In my column in today I describe the eerie parallels between the Goldman Sachs scandal and the demise of Drexel Burnham a few years ago.

There are several major difference, including the one that I think is biggest: the apparent indifference of the U.S. attorney in Manhattan, Preet Bharara. Remember that this case was dropped on his lap, referred to him, and not initiated by his office. The Justice Department generally has shown little interest in prosecuting securities fraud since the beginning of the Bush administration.

© 2010 Gary Weiss. All rights reserved.

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