FBI Warns Sequestration Will Hamper All Their Hard-Hitting Wall Street Investigations

FBI

FBI Warns Sequestration Will Hamper All Their Hard-Hitting Wall Street Investigations

WASHINGTON — More than four years after the financial crisis, not a single Wall Street executive has been jailed for playing a role in the creation of the toxic financial products that fueled the real-estate bubble, which were in some cases designed simply to fail.

That track record may make it difficult for the Department of Justice to earn the sympathy of the public as it warns that spending cuts will hamper its ability to investigate Wall Street fraud. The Federal Bureau of Investigations told lawmakers in a recent letter that across-the-board cuts resulting from sequestration “will cause current financial crimes investigations to slow as workload is spread among a reduced workforce. In some instances, such delays could affect the timely interviews of witnesses and collection of evidence.”

Investigations yet unseen may also be harmed. “In some instances, such delays could affect the timely interviews of witnesses and collection of evidence. The capacity to undertake new major investigations will be constrained,” FBI Director Robert Mueller III wrote in the letter, addressed to Sen. Barbara Mikulski (D-Md.), the chair of the Senate Appropriations Committee.

The warning closed with the type of reasoning that critics of the lack of investigations would readily support. “Left unchecked, fraud and malfeasance in the financial, securities, and related industries could hurt the integrity of U.S. markets,” Mueller offered. “In addition, the public will perceive the FBI as less capable of aggressively and actively investigating financial fraud and public corruption, which would undercut the deterrence that comes from strong enforcement.”

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4closureFraud.org

Comments
9 Responses to “FBI Warns Sequestration Will Hamper All Their Hard-Hitting Wall Street Investigations”
  1. joe parisi says:

    If you know anything about the Feds, they have been using that bs excuse for a number of years. Lack of funds. lack of manpower. How about their chosen wealthy investment advisors and friends etc who whisper in their ears to close down an investigation before it even begins.
    Wake up America. this is the land of the wealthy and privileged. Justice for them is not justice for the working man and woman who by the way pay the bulk of income taxes in this country.

  2. See says:

    LOL you mean they were actually investigating? Very hard to believe. More lies. Why can’t I stop laughing?

  3. Fed Up says:

    Hey Obama what investigations!!!!!!

  4. Alabama John says:

    Tip for the FBI:

    Its against the Federal law to file a false report against a Federally insured bank.
    Has the financial folks under your investigation broken this law ? Yes, we all know it and no one would think otherwise or disagree.

    This is not complicated, enforce the law that has been broken right before your eyes. Give them time and shut them down, payback those taken advantage of. Get your respect back.

    We are waiting!!!

  5. Please Mr. FBI cry me a river,build me a bridge and get the hell over it.Too worried about your expense accounts and overtime being cut.Where was the FBI when all of us reported this crime and were told we couldn’t even get a name of a field agent to call back.You made your bed now lie in it and remember we’ve got your #.

  6. keepon says:

    the public will perceive the FBI as less capable of aggressively and actively investigating financial fraud and public corruption.”

    I’m not seeing how the Public could possibly think of the FBI as any LESS capable.

    The Nation is GONE, and on YOUR watch boys! Semper fi!

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