What is Bad About Obama

[Sheepshank]

103. Issues still remain

that bankers legally exploited loopholes. Tough to prosecute anyone based on personal ethics or a lack thereof.

And while there are some mega million $ prosecutions on financial fraud...and in the case of a bankster/hedge fund criminal, those investigation tend to lead to other participants, those investigations take a very long time and require much more expertise by the investigators vs. welfare fraud, where those investigations can be conducted and case files put together by rank and file staff. So to me it makes sense that there are fewer bankers prosecuted vs wefare fraud.

http://www.propublica.org/article/why-no-financial-crisis-prosecutions-official-says-its-just-too-hard/single

Why’s that? Well, according to a now-departed Justice Department official who used to be in charge of investigating such matters, the Justice Department has decided that holding top Wall Street executives criminally accountable is too difficult a task [5].

David Cardona, who recently left the FBI for a job at the Securities and Exchange Commission, told the Wall Street Journal that bringing financial wrongdoing to account is “better left to regulators,” who can bring civil cases. Civil cases, of course, can produce penalties from the banks -- as well as promises to be on better behavior [6] -- but don’t put any executives behind bars. Here’s the Journal:

And while there are some mega million $ prosecutions on financial fraud...and in the case of a bankster/hedge fund criminal, those investigation tend to lead to other participants, those investigations takes a very long time and require much more expertise by the investigators vs. welfare fraud, where those investigations can be conducted and case files put together by rank and file staff.

Comparing apples to oranges imho...and it just isn't comparable.

http://www.justice.gov/usao/ct/Press2011/20111220-1.html

http://abcnews.go.com/Business/hedge-fund-manager-rajaratnam-guilty-insider-trading-trial/story?id=13579823

http://www.shipmangoodwin.com/insider_trading_12012

I personally do wish that there were more prosecutions, but to attempt to compare those numbers as a one to one correlation of inequity is just plain silly.