Re: Their biggest problem
I'm not sure that litigating the financial crisis is going to help with this discussion. The core point, that you have to prove what someone did wrong in order to imprison them, applies here as well as anyone else. I didn't say, nor do I believe, that the financial crisis just showed up out of nowhere one day and nobody could have known it was coming. I did say and believe that there were people working in finance who weren't to blame at all because they did unrelated things and there were people who worked in the area but were still not to blame. If we lived in a society where we don't need to prove fault, many of those people would have been punished just to take out our displeasure at the situation on someone the ill-informed incorrectly believe was responsible.
And when there were people who did something actively wrong, I still believe that we need to make what they did illegal. If it was already illegal, then we should charge them for it. That way, people know not to do it next time. The original suggestion was essentially to discard the rule of law and replace it with the rule of whether some random people like you. The attempts to do this of which I'm aware are universally nasty.