Abacus was not exonerated. Not exonerated. Exoneration is when a person is proven innocent. I don’t think there’s anything here that says that Abacus was proven innocent.
— Polly Greenberg, formerly of the Manhattan DA’s Office, in the fantastic documentary film Abacus: Small Enough to Jail, about the only bank prosecuted as part of the housing crisis — a small, family-owned bank that had one of the lowest default rates in the country. Abacus was acquitted on every single count. It’s not so much that Greenberg’s definition is inaccurate, as much as it’s petty and intended as an undeserved swipe at the sanctity of the justice system.
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In one of the film’s most amusing moments, Abacus’s attorney, Kevin Puvalowski, responds to Greenberg’s quote: “poor loser comes to mind.”