August 11, 2012
The DOJ: In Action or Inaction?
Here is an interesting piece from the Washington Examiner's Mark Tapscott, commenting on the Government Accountability Institute's new report, Justice Inaction: The Department of Justice's Unprecedented Failure to Prosecute Big Finance. According to Tapscott, the GAI "has concluded that conflicts of interest among President Obama's top Department of Justice appointees may explain why nobody on Wall Street has been prosecuted by the government following the economic meltdown of 2008." Notice those weasel words--may explain. I haven't read the report yet, but I'm not buying GAI's theory. DOJ's stunning failure to prosecute elite financial control fraud is coming from a pay grade much higher than Holder's.
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The uninformed and cynical cries for more DOJ prosecutions of "financial fraud" fail to recognize that the DOJ prosecutes too many non-criminal actions under vague federal criminal statutes, not too few. These critics are much like the folks described in "Tale of Two Cities" who sit by the gallows, knitting and cheering on the executioner. Only the foolish or the cynical would think that more ill-considered prosecutions, for conduct not clearly deemed criminal by federal statutes, will correct the underlying problems -- namely, the ability of lobbyists to influence federal tax and other policies so as to enhance, rather than diminish, the already too-stark economic and class divisions plaguing our society today. The nation needs economic reform, not more show trials. HARVEY SILVERGLATE, author of "Three Felonies a Day: How the Feds Target the Innocent."
Posted by: Harvey A. Silverglate | Aug 12, 2012 10:18:43 AM
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Posted by: Cute Blogger | Aug 27, 2012 7:21:59 AM