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HomeProsecutions of Financial Frauds at 20 Year Low
Posted by Larry Doyle on November 30th, 2011 5:02 PM |
I am not surprised to learn that financial frauds are being prosecuted at a rate which puts them at a 20-year low.
When the “truth is confined to secretive, fearful whispers” as I highlighted in my commentary the other day, then those who profit from the accompanying lack of transparency and integrity will swing for the fences. In fact, that is exactly what the financial services industry did for a protracted period. They are fighting tooth and nail to maintain that status quo.
The lax regulatory environment and ineffective legal maneuverings are a reflection of efforts — or lack thereof — that originated and grew during both Democratic and Republican regimes. (more…)
