The United States Justice Department had made a pledge to focus on white collar crime on Wall Street after a series of reports on misconduct and the current financial crisis. Deputy Attorney General, Sally Yates stated:
“Crime is crime. And it is our obligation at the Justice Department to ensure that we are holding lawbreakers accountable regardless of whether they commit their crimes on the street corner or in the board room.”
The department sent out notice on Wednesday with updates to its restrictions on corporations who withhold reports on misconduct moving forward. The hope is to begin dilute the corruption that has become Wall Street today and hopefully course correct in the wake of the current financial crisis.
Yates continued in her statement:
“Our mission here is not to recover the largest amount of money from the greatest number of corporations; our job is to seek accountability from those who break our laws and victimize our citizens. There is real value, however, in bringing civil cases against individuals who engage in corporate misconduct, even if that value cannot always be measured in dollars and cents.”