"His debt to society finally paid in full, William Lerach,
the fiery shareholder litigator who exposed the excesses of Enronhttp://www.pbs.org/wgbh/pages/frontline/shows/regulation/ before running afoul of the law himself, warned of
another wave of financial fraud emerging on an unregulated Wall Street.
Lerach, whose name for years sent shudders through many a corporate boardroom before his too aggressive tactics landed him a two-year jail sentence,
became a free man this week, eager to again take America Inc to task.
He blasted Wall Street for everything from inflated salaries leading to risky behavior to a lack of responsibility to society, shareholders and even their own companies.
"There will be another financial fraud wave if serious changes aren't made," the 63-year-old disbarred lawyer said.
"We keep repeating the same mistakes. There is no real legal or economic accountability of the people on Wall Street."
"We got caught up in a certain dynamic and we couldn't stop," Lerach told Reuters from his La Jolla home on Monday, the day he was officially released from custody."