Wall Street Crimes: President Obama is "effectively encouraging future financial fraud"

[ProSense]

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Wall Street Crimes: President Obama is "effectively encouraging future financial fraud"

...doubt there is any truth to that.

http://www.stopfraud.gov/news.html

In fact, why is it that people can understand that the repeal of Glass-Steagall contributed to the crisis, but have trouble comprehending that repealing a law means that the activities it made illegal are no longer covered?

From the OP piece:

Yes, with financial fraud, criminal intent is difficult to prove, especially when a defendant relied on professional advice from accountants and lawyers (and in some cases may even have been acting with the knowledge of the bank's regulator, who was apparently more concerned about the bank's financial soundness than about full disclosure to investors). But we shouldn't outsource the interpretation of fraud laws to a potential defendant's accountant and lawyers. And why haven't prosecutors used provisions in the Sarbanes-Oxley Act, which put in place tough criminal sanctions in the wake of Enron and other cases of massive corporate frauds? In the absence of an aggressive, targeted effort by the Justice Department, we'll never know whether crimes may have been proved beyond a reasonable doubt.

The Enron loophole and the repeal of Glass-Steagall address different issues.

From 1999 through 2009, there was no Glass-Steagall.

Also, how is it that people manage to ignore the massive re-regulation that constitutes Wall Street reform?