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Enron was hardly a trivial example. And even a failed prosecution of a high ranked official, especially after having 'turned' an obviously guilty lower ranked official, would go a long way towards changing the climate of 'fraud is the business model'.

And I think you significantly minimize the scope for prosecution that has been ignored under 'regulatory forbearance'. A high profile investigation of the NY Fed with a covert agent or another insider who came forward, were it made clear that whistle-blowers will NOW be protected, not outed, with the skills of Carmine Segarra, could be quite devastating. Hell, a Democratic Senate could convene a special committee to investigate the New York Fed and have public hearings with Carmine as the star witness. It would be electrifying: regulatory capture illustrated - with a beautiful, passionate and articulate figure who was there.


"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Mar 18th, 2016 at 11:30:21 AM EST
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