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unless there is a plan in place for the aftermath Ooh! I know a good plan! How about we investigate and prosecute fraud? The idea is that this would create an
by gruseom 14y ago
unless there is a plan in place for the aftermath
Ooh! I know a good plan! How about we investigate and prosecute fraud? The idea is that this would create an incentive not to commit fraud in the future.
Former bank regulator William K. Black says that the agency he worked for during the 1980s S&L crisis made over 10000 criminal referrals to the Justice Department, producing over 1000 felony convictions. That crisis was 1/70th the size of this one. How many criminal referrals have been made in this one? Zero. How is that possible? The answer Black gives is: total gutting of the investigatory system. What you don't look for, you don't find.
That's a long runway for due process before anyone needs to dust off words like "crucify".
(I'm not giving a citation because although the above is easy to google, I don't know which of the websites are any good. I got it from watching interviews. Is Black credible? His experience in the field seems exemplary.)
- anigbrowl 14y agoIf you change the law such that many behaviors which were once illegal are now legal (which some would argue was the upshot of repealing Glass-Steagall), then the negative consequences which may ensue aren't necessarily criminal.
- gruseom 14y agoAccording to Black and others, plenty of behaviors remain illegal that are simply not being investigated.