You are hereBlogs / CL's blog / Why No One Is Investigating Wall Street

Why No One Is Investigating Wall Street


By CL - Posted on 07 December 2011

When it comes to our government’s collective refusal to aggressively investigate — much less prosecute — Wall Street crime, one prevailing line of apologism implies that it’s all about resources. As the general fable goes, Wall Street is so sprawling and so lawyered up that public law enforcement agencies simply don’t have the resources to make sure justice is served, especially at a time of budget deficits. In this story, Wall Street is not simply too big to fail; it’s too big to even police.

The motivation for such myth-making is obvious: It wholly absolves elected officials for their decisions to let their financial-industry campaign contributors off the hook. Yet thanks to recent events, the whole “Too Big to Police” rationale is being exposed for the farce that it is.