Banks are too big to prosecute

[ctc]

Great to see that CTC is now concerned with corporate accountability. Well at least if it allows him to take shots at the Obama Administration, he cares about corporate malfeasance. Of course if they DID prosecute people and never got a conviction but did harm the economy, he would be the first to blame Obama for reckless prosecutions.

A couple of observations.
1) You seem to take any criticism of the administration very personally. Why is that? I would think most psychologists would regard that as unhealthy.
2) Your constant defence of all things obama and the administration makes you look like a sock puppet, or worse.
3) Tell us how the a prosecution of the robo-signings would harm the economy?
4) Trying to make this about me is immature. I would have thought it unbecoming but I've been wrong before.

[ctc]

I'm sure it's because of Obama that this trend continues.

Who has accused obama? Simon Johnston merely wanted to know who was making the decision not to prosecute. That seems to be a question people are uncomfortable with.

[flyerhawk]

A couple of observations.
1) You seem to take any criticism of the administration very personally. Why is that? I would think most psychologists would regard that as unhealthy.
2) Your constant defence of all things obama and the administration makes you look like a sock puppet, or worse.
3) Tell us how the a prosecution of the robo-signings would harm the economy?
4) Trying to make this about me is immature. I would have thought it unbecoming but I've been wrong before.

So #1 and #2 are attempts to make this about me which is what makes #4 so amusing.

[byron2112]

I watched this program, "Frontline:The Untouchables". I would urge you guys to view it.

A lot of this is systemic too. They were saying that after the 1987 S&L scandal there where 300+ ,what the program termed "bankers"(executives I guess), prosecuted by justice... and after this latest go-round there have only been a couple.

Also, after '87' there were around 2000 FBI agents assigned to financial fraud, then when 9/11 happened most were transferred to homeland security, leaving only 200+ agents left investigating financials, and those guys had to cover... I can't even recall the massive number of financial institutions they are responsible for... it was huge... no agents were replaced!

The last part of the program was dedicated to interviewing this prosecutor and trying to understand, or get an explanation, as to why it was his job to worry about consequences outside that of prosecuting the immediate crime he was investigating...

Our government comes off as pretty incompetent and limperdick.

[CalgaryHawkFan]

I watched this program, "Frontline:The Untouchables". I would urge you guys to view it.

A lot of this is systemic too. They were saying that after the 1987 S&L scandal there where 300+ ,what the program termed "bankers"(executives I guess), prosecuted by justice... and after this latest go-round there have only been a couple.

Also, after '87' there were around 2000 FBI agents assigned to financial fraud, then when 9/11 happened most were transferred to homeland security, leaving only 200+ agents left investigating financials, and those guys had to cover... I can't even recall the massive number of financial institutions they are responsible for... it was huge... no agents were replaced!

The last part of the program was dedicated to interviewing this prosecutor and trying to understand, or get an explanation, as to why it was his job to worry about consequences outside that of prosecuting the immediate crime he was investigating...

Our government comes off as pretty incompetent and limperdick.

It's exactly the same as the EPA inspectors who are individually repsonsible for hundreds if not thousands of sites. The regulations are there, but if there's no-one to enforce them, they might as well not be.

[Grimjack]

It's exactly the same as the EPA inspectors who are individually repsonsible for hundreds if not thousands of sites. The regulations are there, but if there's no-one to enforce them, they might as well not be.

It makes me feel to better to know our goverment is willing to allow multiple industries to screw the country.

[CalgaryHawkFan]

It makes me feel to better to know our goverment is willing to allow multiple industries to screw the country.

They've drunk the job creator kool-aid.

[flyerhawk]

It makes me feel to better to know our goverment is willing to allow multiple industries to screw the country.

15 years of being told that regulations are the problem probably helped a little.

[Grimjack]

At least were not handing out bomuses to the EPA workers. They get their perks from lobbiests

RICO laws ought to be in full place when it come to Wall St

[flyerhawk]

The way to fix Wall Street is to deleverage it from our economy. The problem is that for the past 40 years our country has been increasing that leverage because finance has been a major growth industry.

[ctc]

15 years of being told that regulations are the problem probably helped a little.

Should we consult Yglesias on the problems with regulations?

[PatsFan2003]

I watched this program, "Frontline:The Untouchables". I would urge you guys to view it.

A lot of this is systemic too. They were saying that after the 1987 S&L scandal there where 300+ ,what the program termed "bankers"(executives I guess), prosecuted by justice... and after this latest go-round there have only been a couple.

Also, after '87' there were around 2000 FBI agents assigned to financial fraud, then when 9/11 happened most were transferred to homeland security, leaving only 200+ agents left investigating financials, and those guys had to cover... I can't even recall the massive number of financial institutions they are responsible for... it was huge... no agents were replaced!

The last part of the program was dedicated to interviewing this prosecutor and trying to understand, or get an explanation, as to why it was his job to worry about consequences outside that of prosecuting the immediate crime he was investigating...

Our government comes off as pretty incompetent and limperdick.

I wouldn't be surprised if the financial institutions have also gotten better at hiding their tracks as well. With the crimes around the S&L scandals being so blatant in so many ways.

[flyerhawk]

Should we consult Yglesias on the problems with regulations?

Yglesias has an issue with professional licenses. I don't recall ever reading him say that regulations are inherently bad.

[ctc]

Yglesias has an issue with professional licenses. I don't recall ever reading him say that regulations are inherently bad.

And its unlikely you'd find any CEO saying he believes regulations being inherently bad.

[flyerhawk]

And its unlikely you'd find any CEO saying he believes regulations being inherently bad.

LOL. Do you know what lobbying organizations do?

CEOs sometimes LOVE regulations, provided they get to write them. For instance the credit ratings agencies absolutely LOVED the regulation that required the sell side to purchase credit ratings for bonds, at least if you were one of the original 3 agencies that were granted legal recognition as being acceptable ratings agencies.

What they DON'T love is regulations they can't capture. And what they absolutely despise if regulatory agencies that are largely independent of their influence which the CPBB would be if the Republicans ever funded it.