{"id":20056,"date":"2015-03-24T20:21:27","date_gmt":"2015-03-25T00:21:27","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=20056"},"modified":"2015-03-24T20:21:27","modified_gmt":"2015-03-25T00:21:27","slug":"the-doj-and-the-sec-spurn-their-ace-in-the-hole-richard-bowen","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2015\/03\/24\/the-doj-and-the-sec-spurn-their-ace-in-the-hole-richard-bowen\/","title":{"rendered":"The DOJ and the SEC Spurn their Ace in the Hole: Richard Bowen"},"content":{"rendered":"<p>New Economic perspectives has the article <a title=\"New economic Perspectives article\" href=\"http:\/\/neweconomicperspectives.org\/2015\/03\/the-doj-and-the-sec-spurn-their-ace-in-the-hole-richard-bowen.html\" target=\"_blank\">The DOJ and the SEC Spurn their Ace in the Hole: Richard Bowen<\/a>. This is the second part of a three part series by William K. Black. I posted about the first part in <a title=\"Previous post\" href=\"http:\/\/ssgreenberg.name\/PoliticsBlog\/2015\/03\/23\/the-lessons-richard-bowens-fcic-testimony-should-have-taught-the-nation\/\" target=\"_blank\">The Lessons Richard Bowen\u2019s FCIC Testimony Should Have Taught the Nation<\/a>.<\/p>\n<p>To give you a sense of the dereliction of duty of Obama&#8217;s Department of Justice, I give you the following excerpt from the latest Black article:<\/p>\n<blockquote><p>Competent and vigorous government financial regulators are typically superior witnesses compared to whistleblowers.\u00a0 They are rarely subject to similar damaging psychological pressures.\u00a0 They have nice titles and expertise in their fields.\u00a0 They have no personal axe to grind.<\/p>\n<p>In the savings and loan debacle (less than one-hundredth the size of the current crisis) our agency, the Office of Thrift Supervision (OTS) made over 30,000 criminal referrals.\u00a0 The referrals produced over 1,000 felony convictions in cases designated as \u201cmajor\u201d by DOJ.\u00a0 The cases that were prosecuted were hyper-prioritized through the \u201cTop 100\u201d process.\u00a0 We worked closely with the FBI to prioritize the worst 100 fraud schemes.\u00a0 That represented slightly over 300 S&amp;Ls and 600 individuals.\u00a0 They were nearly all prosecuted and despite having the best criminal defense lawyers in the world we achieved a 90% conviction rate.\u00a0 The ability of the regulators to take the lead in successfully prioritizing cases for prosecution is one of the collateral advantages of superb regulatory criminal referrals.<\/p><\/blockquote>\n<p>Compare this record to the zero, yes I said zero, criminal referrals in the aftermath of the latest crisis.<\/p>\n<p>See also the another post on my blog <a title=\"Previous post\" href=\"http:\/\/ssgreenberg.name\/PoliticsBlog\/2015\/03\/24\/whistleblower-from-citi-bank-asking-why-doj-is-not-acting-on-his-evidence\/\" target=\"_blank\">Whistleblower from Citi Bank asking WHY DOJ is not acting on his evidence!<\/a><\/p>\n<p>If you are as incensed as I am about the failure to prosecute, then I don&#8217;t know how you could possibly vote for Hillary Clinton for dog catcher, let alone President.\u00a0 These crooks are Hillary&#8217;s pals.\u00a0 She has never called for their prosecution.\u00a0 If a similar crisis occurred during her Presidency, you can bet she would act with as much <a title=\"Definition of venality\" href=\"http:\/\/en.wikipedia.org\/wiki\/Venality\" target=\"_blank\">venality<\/a> as the Obama administration has acted.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Economic perspectives has the article The DOJ and the SEC Spurn their Ace in the Hole: Richard Bowen. This is the second part of a three part series by William K. Black. I posted about the first part in The Lessons Richard Bowen\u2019s FCIC Testimony Should Have Taught the Nation. To give you a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-20056","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/20056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=20056"}],"version-history":[{"count":1,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/20056\/revisions"}],"predecessor-version":[{"id":20057,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/20056\/revisions\/20057"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=20056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=20056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=20056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}