Why No Bankers Go to Jail

[n2doc]

snip:
Theory 1: U.S. attorneys and the Federal Bureau of Investigation have other priorities, whether it's antiterror cases after the Sept. 11 attacks, accounting frauds after Enron's bankruptcy, or Ponzi rip-offs after Bernard Madoff's huge scam. Financial frauds are particularly tough to crack, and many of the prosecutors with the requisite knowledge have been moved to other areas.

Theory 2: Law enforcement agencies have had to compete for a shrinking pot of money from Congress, and the best way to do that is by beefing up their statistics with smaller, easier cases and avoiding the years-long financial fraud probes that may turn up nothing. The Manhattan U.S. attorney, moreover, has been preoccupied with the sprawling insider-trading case against hedge-fund owner Raj Rajaratnam. Tapes of his conversations have been a gold mine -- resulting in slam-dunk cases that have led to numerous convictions -- for Manhattan prosecutors who previously would have focused on bank fraud.

Theory 3: The federal government's involvement in the mid-2000s bubble -- encouraging more people to buy homes, deregulating the financial industry, keeping interest rates low and giving Fannie Mae and Freddie Mac way too much leeway -- may also have given prosecutors pause.

Theory 4: The U.S. has shifted over the last 30 years from prosecuting high-level individuals to using delayed-prosecution agreements to settle cases against entire companies. That shift “has led to some lax and dubious behavior on the part of prosecutors," Rakoff said, including allowing managers to sweep crimes under the rug.

more

http://www.bloomberg.com/news/2013-11-17/why-no-bankers-go-to-jail.html

[PowerToThePeople]

1. Theory PTTP: Payola n/t

[KurtNYC]

2. Theory 6: the banks ARE (a branch of) the government

They pay fines when any charges can stick to them. That's it. Fines.

"Too big to fail, and too rich to jail."

[clydefrand]

3. Ever since the 'Federal Reserve' was established,

it has been nearly impossible to prosecute an individual in any of the banking companies.
Please note that the 'Federal Reserve' IS NOT, NOR EVER HAS BEEN a governmental agency. They also keep everything they do extremely secret. This organization can make or break just about anyone they want to, including members of the Senate and House. You want to fix the problems? Get rid of the Federal Reserve, that is if you don't mind have a deadly 'accident' somewhere along the way. Having the head of and the board members of this group was set up to require the president to nominate them. This is just to make it look like the government is a fault if anything goes wrong.

[colsohlibgal]

4. It's Because Both Main Parties Are Beholden To Them - Legal Bribery

Elizabeth Warren getting flack, from the White House, for having the nerve to actually ask hard question of them, tells us all we need to know. Democracy of the people - not so much in 2013.

[WillyT]

5. K & R !!!

[onethatcares]

6. I thouht it was

because organized crime decided to spruce up their image, run for office and do a bust out of the country.

but what do I know?