New boss, same as the old boss

We’re finally crackin’ down on those Wall Street miscreants! Yippeeee! The AG had a press conference yesterday and he said they at the Justice Department were all kinds of proud of ‘Operation Broken Promise’ and have “brought cases against 343 criminal defendants and 189 civil defendants”

Way to go Justice Department, right?

Today, New York Times’ Andrew Ross Sorkin says “I actually called some chief executives after Mr. Holder’s news conference, and not one had heard of Operation Broken Trust.

“That’s because in the two years since the peak” of the financial crisis, the government has not brought one criminal case against a big-time corporate official of any sort.

“Instead, inexplicably, prosecutors are busy chasing small-timers: penny-stock frauds, a husband-and-wife team charged in an insider trading case and mini-Ponzi schemes.”

Yeah, that’ll do it.

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