From a favorite investigative journalist of mine, the superb David Dayen: It’s as if the Justice Department constructed a dartboard with all the sundry financial crimes and decided to throw their resources at the one they happened to hit. (It’s not for nothing that the forex crimes mainly involve foreign banks, too.)… The Justice Department is finally getting around to the most obvious (method to indict senior level criminals Banksters): flipping guilty lower-level employees to go after the big fish. Why this wasn’t done in previous cases boggles the mind, but in the forex probe, prosecutors have begun to outfit informants with body wires, among other generic crime-fighting tools… The Justice Department never shies away from putting big dollar figures in press releases touting its “tough” enforcement actions (BUT) doesn’t really collect debts so much as hope that the money comes in… — Federal prosecutors have failed to collect *$97 BILLION* in civil and criminal fines, a figure that has tripled since 2004. DOJ’s average annual collections of fines over the past decade total less than 25 percent of the penalties imposed… The Justice Department will continue to be relentless in our pursuit of anyone, anywhere, who violates the law, Holder concluded this week. — If his record constitutes relentlessness, I’d hate to see nonchalance.
Posted on: Thu, 25 Sep 2014 19:45:43 +0000
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