The Financial Crisis

December 1, 2008
The National Law Journal
George J. Terwilliger III

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The unstable financial environment is fueling public and political demand for justice that, as in times past, will increase the number of investigations of institutions and individuals who may be suspected of wrongdoing in the financial crisis. As the credit meltdown causes pain on Main Street, the political world will demand villains to blame on Wall Street, provoking both very public congressional investigations and somewhat more private but also more perilous criminal grand jury investigations. At the same time, the 'new financial order,' whereby the government becomes far more involved in the largest financial institutions, brings with it a host of new potential liabilities for those companies and firms.