The FBI has recommended only 2,001 white-collar cases for criminal prosecution so far this fiscal year, on pace for a nearly 7 percent drop from last year, according to a report Tuesday by a research group affiliated with Syracuse University.
It would be one of the lowest years on record and would extend a years-long trend, according to government data obtained by the Transactional Records Access Clearinghouse, or TRAC.
Typically, the FBI investigates potential wrongdoing and recommends cases to the Justice Department, where federal prosecutors make final decisions about whether to file cases.
Despite concerns about widespread wrongdoing on Wall Street, the number of white-collar prosecutions recommended by the FBI has plummeted 45.2 percent in the past decade, according to government data obtained by TRAC.
It's not for a lack of resources. The number of criminal investigators has risen, to 13,812 this year from 11,097 in 2001. (emphasis mine)
~ from FBI Pursuing Fewer White-Collar Cases, Group Finds by Walter Hamilton ~
Think about this. We have heard example after example of how Wall Street has run roughshod over the world economy and yet the number of white-collar investigations/prosecutions has fallen by nearly 50 percent! That would be like a community being plagued with armed robberies having the local police department focus their attention instead on litterbugs.
You want to know why white collar criminals act with increased impunity? They KNOW that the government isn't scrutinizing their behavior. If you are aware that there is little chance that you will be held personally liable for playing loose with OTHER PEOPLE'S MONEY, you will not only continue to do it, but you will take even greater risks. What's to stop you?