Harvard Law & Policy Review

Wall Street

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Is This What Accountability Looks Like?

By Edward Nasser* Wells Fargo & Co. Chairman and CEO John Stumpf resigned this week, effective immediately, under intense public pressure for the bank’s sales-tactics scandal and his inelegant handling of the fallout. Mr. Stumpf won’t receive a severance package, relinquished $41 million in unvested equity awards, and agreed to forgo salary during an independent investigation led by the board. He will not receive a bonus either. Timothy Sloan, whose most recent role was as Wells Fargo’s …

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A “Blow” to the Office: How We Think About Failed Prosecutions

By HLPR Online Staff Prosecutors seem to be caught in a bind. Last week, the Manhattan D.A.’s high-profile fraud trial against three former leaders of the now-defunct law firm Dewey & LeBoeuf came to an anticlimactic end with the judge declaring a mistrial.  After more than 22 days of deliberation, the jury agreed to acquit on some charges, but deadlocked on the majority of the more than 150 counts.  The press characterized the result as a “blow” for District Attorney Cyrus …

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