The government’s failure to convict two minor Bear Stearns executives, whose hedge fund collapsed in 2007, may have caused it to shy away from prosecuting high-profile executives whose actions contributed to the financial crisis, according to Joe Nocera’s recent New York Times article, “Biggest Fish Face Little Risk of Being Caught.” In addition, proving criminal wrongdoing in financial matters is hard, and, as Mr. Nocera put it: “Delusion is an iron-clad defense” to fraud.