Don't hold your breath
Late November brought final word: JPMorgan Chase has “settled” civil charges with federal regulators to the tune of $13 billion. Amazingly, the company actually admitted wrongdoing. While the Obama Department of Justice “holds open the door” to possible criminal action, nothing of the kind is yet seen respecting the antics at the highest levels of bank management and/or at any of those Wall Street financial houses.
Regarding this situation, comment spoke of the difficulties involved in bringing criminal prosecution in such cases. Are there problems with the law? If so, how come, when it seems easy enough for Congress to create myriad criminal statutes? Why is it so difficult to prosecute the “anointed ones,” those who seem to float grandly beyond the reach of the laws — laws that govern the actions of us mere mortals? Think our vaunted “lawmakers” might have appropriate answers? Think the media might lend a hand posing such questions?