In a letter to lawmakers, the Federal Bureau of Investigation claims that the across the board cuts in the sequester will damage their ability to pursue financial crimes.
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. The capacity to undertake new major investigations will be constrained. Left unchecked, fraud and malfeasance in the financial, securities, and related industries could hurt the integrity of U.S. markets.
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.
Are you done laughing yet? I know I’m not.
The public already rightly sees the FBI as complete screw-ups regarding the bureau’s handling of financial crime due to the fact that not one major Wall Street criminal that caused the 2008 financial crisis has gone to jail. Not one. A public perception not at all altered by a recent Frontline expose on the incredible failures of the FBI and Justice Department in taking on blatant crime on Wall Street.
The FBI instead spent its time and resources in the wake of the financial crisis investigating Aaron Swartz as well as treating Occupy Wall Street protesters as “terrorists.” With some truly asine agent provocateur activity that even judges considered pretty stupid. The FBI is rightly losing much of its social cache and has damaged its reputation from the incompetence and corruption it demonstrates when the bureau targets innocent people while letting the clearly guilty walk. So the FBI is rapidly losing credibility with the public due to its obvious disinterest in holding Wall Street accountable not for lacking the resources to do so.
There are many good reasons to oppose the sequester, the claim that it will prevent the FBI from doing a job it isn’t doing anyway is not one of them.





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The FBI says that absent regulation, unchecked fraud could hurt the integrity of US markets, as if they actually thought the US markets were just brimming with integrity. How out of touch are these clowns?
They’re pretty out of touch, and addicted to turf battles. One of the reasons Coleen Rowley is no longer an FBI agent is that in the months before 9/11, in a desperate attempt to get someone, ANYONE, to act on the information she found out about the guys entering flight schools who just wanted to learn about takeoffs but not landings, she actually went to the CIA and shared her info with them.
Yes, the VSPs are completely out of touch.
Here’s Mueller being awarded Princeton’s top undergraduate alumni prize.
Anybody looking at the laundry list of mess-ups on his watch
would think Princeton would want to erase him from the alumni directory.
How the hell are we supposed to notice?
I am not aware of any official, local, state or especially federal, who has the least interest in investigating Wall Street crime.
Dear Hat Squad boys from Justice Department, FBI and other Regulators:
You don’t need to worry about this sequester crap because it won’t affect you at all.
For the past several years you all appear to be in the pockets of wall street crooks.
Thank you! We’ll be here all week. Don’t forget to tip your waitresses.
Any sequester cuts that cause even the slightest inconvenience or worry to the PTB will be saved at the last minute by Congress and the Prez.
Any excuse is a good excuse.
Just another reason for lack of investigation and prosecutions.
By they way, if it was determined that there were no crimes, just bad judgements, than what do they need to investigate?
They need to investigate people who steal from rich people like Madoff and Stanford but not Corzine, Dimon, Mozillo et al.
That ? would and does lead to a long punchline list Masaccio.
Obama WH was just getting close to pouncing on some Wall St. bent types too… damn it !
Wall St. must be going “Whew!! Thank God!! The heat was getting hot!!”
Good Gawd, y’all…! Obama Administration Says President Can Use Lethal Force Against Americans On US Soil… Wtf, over…? 8-(
The FBI, going after Wall Street effected by sequestration cuts? Let me go “vomit,” before I go out and cut some “wood,” to stay warm. (fuck the oil whores) Then with each swing of my maul splitting the cut wooden lunkers into quartered burnable pieces, I’ll think of the french revolution and the multiple decapitations of the aloof “bourgeoisie” and “French Aristocrats,” smelling like lilac perfume, covering up their foul stench….
Spilling wood is a good a workout for the body and soul. It is great therapy in response, Wall Street’s and Oil’s rape of America and the trauma inflicted on America by those paying homage to Mammon’s dangling appendage. FBI included!
“Are you done laughing yet? I know I’m not.”
I’m still laughing too! Laughing instead of crying…
DS, OT…..
Mr. Walker censors comments. Please excuse my indulgences but this is what he censored on his “Just say Now,” comment thread. This comment was in response to his most recent post.
I apologize for adopting this tactic. However his censorship is unwarranted and without merit. Thank You.
BTW, FBI treats Americans as if we are “Dumber than dead dirt,” also? The FBI had the 911 scum right under their nose, and blew it and we should by this BS about Wall Street? Right!
THis may be the most unfrieking believable thing I’ve heard since the election was over.
Just one more reason I didn’t vote for Obama and will not vote for him nect time either.
Well…you know what I mean.
DSW……continuing outstanding job!!!
But NEXT time, somethig like this, please post “keyboad warning”.
The FBI focuses its resources where its bosses tell them to focus their resources. They’re not going to go hard after Wall Street if the AG or President isn’t pushing it, and/or if U.S. Attorneys aren’t pushing them to investigate or not bringing cases when the FBI brings them a case. The FBI might or might not be screw-ups, but however they’re screwing up, they’re doing so consistent with the policy preferences and commands of their bosses.
Anticipating a Mayor Bloomberg-like-extension, for another “O” term?
Self interest, its can be an amazingly corruptible thing sometimes, for those who can buy the law?
I can hardly stop laughing. Not one Bankster has gone to jail and we are in year 5 since the ripoff of the century.
We citizens should demand that anyone in prison for stealing money or convicted of fraud should be released immediately. Why do we have 2 sets of laws? The Elite do not get investigated or put in prison, but we will
move heaven and earth to put everyone else in jail unless they are connected.
Our Politicians are Puppets of the Rich!!1
You aren’t the only one to do a spit take on this story!
Another in a continuing load of baloney coming from
WH on sequester.
The next one I expect is ” Due to the Sequester, President Obama does not have the funds to govern. However, he will continue to campaign.”
This FBI message is nothing more than an attempt to manipulate FDL thinkers to raise up in arms because “no banksters can be investigated,” and blame Boehner.
They didn’t count on the fact FDL’ers are pretty smart and know that no banksters were being really investigated anyway.
The people deserve a refund if the FBI is claiming they can’t investigate WS due to cuts…they didn’t do investigations up til now…so give back the money!
And who in Washington will be upset?
Holder has worked against any investigation from the beginning. Something might hurt his cronies at Covington & Burling. We can’t have that!
Next thing from the Justice Dept will be that
judicial process“due process” is no longer affordable. We’ll need to start droning on US soil to “protect the homeland.”Anyone wanna offer an over / under on the # of years before the USG starts offing elected officials “because of the sequester’s budgetary constraints”?!
I wonder if the sequester also means slowing down home foreclosures, development of the drone program, and prosecution of Bradley Manning.
Still Laughing.
The laughter apparently started in 2008 with no end in sight.
Never let it be said that the FBI doesn’t have a sense of humor.
Well, at least the Wall Street Administration is trying to give us a good laugh for a change.
Change and Hope.
This post has been up all day, and it is just as hilarious at night as it was this morning.
You funny, FBI. Can’t stop laughing.
Right on, that was my favorite line from the White House web posting about the sequester.
Clearly, federal agents are now going to make negative arrests.
And for anybody who thinks the problem is the FBI rather than the White House, the FBI has been warning about financial fraud for a decade.
P.S., DSW, are you going to respond to comments about your posts on the sequester?
http://news.firedoglake.com/2013/02/22/austerity-program-set-to-begin-next-week/
It’s been a couple weeks, and I still don’t follow why you think there are good reasons to care about the sequester. It’s all irrelevant gobbledeegook.