3 ms·

This is basically what the OP is saying: it's not something specific to SBF or related to his political connections, but a more general issue in prosecuting whi

This is basically what the OP is saying: it's not something specific to SBF or related to his political connections, but a more general issue in prosecuting white-collar crimes.

dmix 4y ago
OP is saying it's a natural side effect of this sort of complicated crime, it's not just an issue with how it's prosecuted. Although rerouting the massive amounts of money + human capital in non-violent crimes (drugs) to white collar would help... and probably pay for itself in recovered money (via tax revenue and reduced government corruption). That probably still wouldn't result in SBF-type criminals being arrested right away though.
- ouid 4y ago
  it was all intentionally routed away after 9/11 under the guise of improving homeland security.
  - dmix 4y ago
    Reminds me of that old Immortal Technique clip: https://www.youtube.com/watch?v=4gGLI9ifEzw https://www.youtube.com/watch?v=4gGLI9ifEzw
- jasonhansel 4y ago
  I also think it's a problem of underinvestment. The NYC police department alone has 5 times the budget of the SEC. That seems disproportionate. If we spent more money on enforcement and hired more investigators, I suspect these investigations would be able to proceed much faster.
  - dsfyu404ed 4y ago
    The SEC isn't tasked with being the nearly sole dispensary of state violence over a slice of territory containing millions of people. NYPD is. Occupying territory is expensive.
    - dmix 4y ago
      They are both extremely important. There’s far more waste in other federal agencies if you need to find one, NYPD is probably not a good one to point fingers at.
  - baandam 4y ago
    The SEC is basically captured at this point. Who is going to vote to give the SEC more funding and power? Our leaders who are insider trading themselves? Raphael Bostic insider trading as president of the Atlanta Fed was practically a non-story. Most people just don't care.
  - enahs-sf 4y ago
    Worth noting the SEC is a civil regulatory agency, not a criminal one.
    - fatneckbeardz 4y ago
      We could send many more Strongly Worded Letters to criminals and they would be on much nicer paper.
    - jasonhansel 4y ago
      The NYC police can't file criminal charges either; they just investigate and then send cases off to the local DA. The SEC does the same thing; the SEC does the investigative work, but they refer criminal cases to the Justice Department for prosecution.

This is basically what the OP is saying: it's not something specific to SBF or related to his political connections, but a more general issue in prosecuting white-collar crimes.

dmix 4y ago

OP is saying it's a natural side effect of this sort of complicated crime, it's not just an issue with how it's prosecuted. Although rerouting the massive amounts of money + human capital in non-violent crimes (drugs) to white collar would help... and probably pay for itself in recovered money (via tax revenue and reduced government corruption). That probably still wouldn't result in SBF-type criminals being arrested right away though.

ouid 4y ago
it was all intentionally routed away after 9/11 under the guise of improving homeland security.
- dmix 4y ago
  Reminds me of that old Immortal Technique clip: https://www.youtube.com/watch?v=4gGLI9ifEzw https://www.youtube.com/watch?v=4gGLI9ifEzw
jasonhansel 4y ago
I also think it's a problem of underinvestment. The NYC police department alone has 5 times the budget of the SEC. That seems disproportionate. If we spent more money on enforcement and hired more investigators, I suspect these investigations would be able to proceed much faster.
- dsfyu404ed 4y ago
  The SEC isn't tasked with being the nearly sole dispensary of state violence over a slice of territory containing millions of people. NYPD is. Occupying territory is expensive.
  - dmix 4y ago
    They are both extremely important. There’s far more waste in other federal agencies if you need to find one, NYPD is probably not a good one to point fingers at.
- baandam 4y ago
  The SEC is basically captured at this point. Who is going to vote to give the SEC more funding and power? Our leaders who are insider trading themselves? Raphael Bostic insider trading as president of the Atlanta Fed was practically a non-story. Most people just don't care.
- enahs-sf 4y ago
  Worth noting the SEC is a civil regulatory agency, not a criminal one.
  - fatneckbeardz 4y ago
    We could send many more Strongly Worded Letters to criminals and they would be on much nicer paper.
  - jasonhansel 4y ago
    The NYC police can't file criminal charges either; they just investigate and then send cases off to the local DA. The SEC does the same thing; the SEC does the investigative work, but they refer criminal cases to the Justice Department for prosecution.