The WSJ published an article based on an interview with an official from the FBI who explained the reasons for the lack of criminal prosecutions arising out of the fnancial crisis. The article contained this paragraph:
- While at the FBI, Mr. Cardona oversaw dozens of criminal probes of large financial firms. The FBI's probes haven't led to any successful prosecutions of high-profile executives in relation to the financial crisis, despite demands from some lawmakers and angry Americans. In contrast, the SEC has filed crisis-related civil-fraud cases against 81 firms and individuals, and it has negotiated almost $2 billion in penalties in cases that have been settled.
In short, the SEC is the one organization that has been bringing actions as a result of the financial crisis, with considerable success.