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White-collar crime prosecutions are at a 20-year low, data analyzed by TRAC, the Transactional Records Access Clearinghouse, at Syracuse University shows. This year less than 1 in 20 cases brought by the Justice Department fits a broad definition of white-collar crime, which includes frauds against banks as opposed to frauds by banks, data analyzed by TRAC shows.
Congress deserves much of the blame for the willfully blind eye to theft on a massive scale by men and women in corner offices. The problem is not, as President Obama claimed, a lack of statutes so much as a lack of money. Budget sequesters and the notions that society prospers when law enforcement is required to operate on shoestring budgets are deadly Congressional policies.
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