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Under the US Constitution, legislation pursuant to it and precedent as it has evolved the President has great powers of discretion when it comes to the enforcement of laws. Given the basic fact that control fraud has become the business model for the financial sector a POTUS who so desired could bring much of this activity to a halt well within his term through vigorous investigation and prosecution of that fraud.

I am sure that Wm. K. Black would be happy to serve in a suitable capacity in any such effort and he was quite successful in obtaining convictions in the S & L scandal back in the '80s. It was, IMO, that very success that led the financial sector to increase the level of their financial contribution to the political system so as to escalate the costs and make themselves that much more important to politicians. They did this to suborn the power of government to regulate them!

The first wave of prosecutions would have a chilling effect on financial sector behavior and a wave of successful prosecutions could, by itself, downsize our overgrown financial sector, along with the rent it extracts, back at least some way towards what it was in 1970. No new legislation required.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Jun 6th, 2016 at 08:09:18 PM EST
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