crimes and misdemeanors

Lehman Brothers Probably Won’t Ever Be Charged With Anything

Lehman Brothers former Chairman and CEO Richard Fuld is sworn in before testifying to the Financial Crisis Inquiry Commission about the roots and causes of the 2008 financial and banking meltdown in U.S. and worldwide markets on Capitol Hill September 1, 2010 in Washington, DC.
Photo: Chip Somodevilla/Getty Images

Late last month SEC Chairman Mary Schapiro said Lehman Brothers was still “under investigation and analysis” more than three years after its catastrophic bankruptcy, but an agency memo obtained by Bloomberg, titled “Activity in the Last Four Weeks,” provides a not-unexpected update. “The staff has concluded its investigation and determined that charges will likely not be recommended,” the document states, quite anti-climatically. Last year, the Journal reported that the government had hit “daunting hurdles” and “snags,” just “the latest sign of trouble for the SEC and other U.S. regulators trying to punish companies and executives at the center of the financial crisis.” That was forever ago anyway. We’re basically over it, right?

SEC Won’t Recommend Charges for Lehman Brothers