From Pulitzer Prize–winning journalist Jesse Eisinger, a blistering account of corporate greed and impunity, and the reckless, often anemic response from the Department of Justice.Why were no bankers put in prison after the financial crisis of 2008? Why do CEOs seem to commit wrongdoing with impunity? The problem goes beyond banks deemed “Too Big to Fail” to almost every large corporation in America—to pharmaceutical companies and auto manufacturers and beyond.The Chickenshit Club—an inside reference to prosecutors too scared of failure and too daunted by legal impediments to do their jobs—explains why. A character-driven narrative, the book tells the story from inside the Department of Justice. The complex and richly reported story spans the last decade and a half of prosecutorial fiascos, corporate lobbying, trial losses, and culture shifts that have stripped the government of the will and ability to prosecute top corporate executives.The book begins in the 1970s, when the government pioneered the notion that top corporate executives, not just seedy crooks, could commit heinous crimes and go to prison. The book travels to trading desks on Wall Street, to corporate boardrooms and the offices of prosecutors and F.B.I agents. These revealing looks provide context for the evolution of the Justice Department’s approach to pursuing corporate criminals through the early aughts and into the Justice Department of today.Exposing one of the most important scandals of our time, The Chickenshit Club provides a clear, detailed explanation as to how our Justice Department has come to avoid, bungle, and mismanage the fight to bring these alleged criminals to justice.
The Chickenshit Club Review
- June 21, 2017Nick SlaterIf you hate what Wall Street has done to America and you want to understand how it happened (even if your eyes glaze over at the first mention of "securities" or "derivatives"), you will love this book. Eisinger cuts through the financial jargon and bureaucrat-speak to tell a story with rich characters and a narrative that screenwriters for "The Big Short" would envy. Highly, highly recommended for anyone who loves a story that's as informative as it is entertaining.more
- July 22, 2017The Pfaeffle Journalvery disheartening read.
- May 31, 2017David DayenA fascinating narrative that begins with how US law enforcement used to get white collar crime right - not even two decades ago - and how it all fell apart. Unfavorable rulings and extreme timidity have created a special class of citizenship for corporations and their executives, a class that need not fear accountability for criminal misconduct. This is a must read for understanding that transformation, and the deep rot in our system of prosecuting white collar crime.more
- July 5, 2017KatieMcI'm not sure i want to read this, but the title sure is catchy.
- July 19, 2017Stuart ShiffmanWhile the book is interesting and well-written, I think the author misses the mark. The problem he identifies is a problem of the entire criminal justice system and not just the DOJ.
- July 24, 2017Milo GeyelinMeanders but makes its point.
- July 30, 2017Mary FosterA bit repetetive, but interesting take on the federal government's recent failures or decisions not to prosecute corporate executives.
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