Public anger over the $700 billion "bailout" of US banks will likely lead to a "wave" of criminal prosecutions for white-collar crime, experts have said.
Analysts told news channel CNBC that outcry over the "vast" amount of taxpayers' funds being pumped into the financial system will generate demands that bankers involved in the crisis be held accountable for their actions, OpRisk & Compliance reported.
Jacob Zamansky, a securities lawyer who is representing investors in a Bear Stearns hedge fund case, told the broadcaster that calls for "culprits and scapegoats" would see indictments handed down.
"I think it's coming," he said.
However, despite rumours that the FBI is already examining the roles played by a number of multinational institutions in the crisis, the need to stabilize the system and the upcoming presidential election means no prosecutions are likely until next year, the site said.
Nevertheless, the government recently subpoenaed 12 executives of Lehman Brothers in connection to three grand jury criminal investigations into whether the firm's leaders deliberately misled analysts and investors.
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