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Criminal Prosecutions of Financial Institution Fraud Continues to Fall

Submitted by Roanman on Sun, 02/12/2012 - 15:00


From Syracuse University's Trac Report program via Chris Martinson (sort of) and The Economic Populist (moreso).

All three pieces are very good and worth the time.


Criminal Prosecutions for Financial Institution Fraud Continue to Fall


Federal prosecutions for financial institution fraud have continued their downward slide despite the financial troubles reported in this sector. The latest available data from the Justice Department show that during the first eleven months of FY 2011 the government reported 1,251 new prosecutions were filed. If this activity continues at the same pace, the annual total of prosecutions will be 1,365 for this fiscal year, down 28.6 percent from their numbers of just five years ago and less than half the level prevalent a decade ago.


Number Year-to-date 1,251
Percent Change from previous year -2.4
Percent Change from 5 years ago -28.6
Percent Change from 10 years ago -57.7
Percent Change from 20 years ago -56.5

Table 1: Criminal Financial Institution Fraud Prosecutions



I'm thinking that the Obama/Democrat excuse here should be that the failed policies of the Bush Administration and it's mismanagement of the Justice Department among other agencies has forced him to continue this deficit of prosecutions.