Investment Banker Advocates Bringing Back Wall Street's Glory Days, Get Tough on Crime

As Securities and Exchange Commission (SEC) Chair Mary Jo White comes under pressure for leniency regarding big bank criminal behavior, a well-known former Bear Stearns investment banker is offering a solution. Banker justice: reality is no regulator wants to shut down a systemically significant institution The problem with the current system, says Joeseph Fichera, is that not granting a large bank exemptions for their criminal behavior could lead to a swift death to the firm, leaving a crater inside the world economic system as was the case with Arthur Anderson in the wake of the Enron scandal. Fichera, talking with New York…