“The Chickenshit Club” by Jesse Eisinger

  • DOJ lost credibility after Enron, with a run of failed cases
  • Prosecution needs to happen quickly, before the trail goes cold
  • Task forces can run fast but lack context and roots
  • Arthur Anderson literally resulted in the notion of “Too Big To Fail”
  • Non-criminal cases have to prove intent
  • Sporken used consent decrees to force companies to do their own auditing and oversight
  • Accountants can be duped, like anyone else
  • “The company could not go to jail.”
  • Grand juries stopped being used as an evidence gathering tool
  • Gresham’s law: Copper coins drive out good gold ones

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