US judge Rakoff: Companies don't commit crimes, their agents do

Tuesday, 17 Dec 2013 | 4:44 PM ET

Federal judge Jed Rakoff has cited the legal system's failure to prosecute Wall Street executives who had a hand in the financial meltdown. He says if any executives were guilty of fraud, the lack of prosecutions is an "egregious failure." CNBC's Scott Cohn reports.