John Cochrane, the U. Chicago apologist-in-chief for elite corporate criminals, might want to read what the industry says about fraud. Cochrane claims that the reason we have a modest economic recovery has nothing to do with inadequate demand, but is instead caused by government civil suits (not even prosecutions) against the financial industry’s massive frauds.
Cochrane apparently knows that corporate fraud does not exist, which is why he describes the government’s civil fraud suits as a “witch hunt.” As I’ve described several times, Cochrane refuses to read the relevant criminology literature, but perhaps he’s willing to listen to the industry.