Yet, it's not the government that's actually doing its job. It's the government free riding off the lawsuits brought by institutional investors against big banks for selling them crappy pooled loans:
“Part of what prosecutors have the advantage of doing right now, here as elsewhere, is watching the civil suits play out as different parties fight over who bears the loss,” said Daniel C. Richman, a professor of law at Columbia. “That’s a very productive source of information.”
For anyone out there complaining that American culture is too litigious -- well, it's not like the cops on the beat are doing their job. Someone has to.
Meanwhile, one can see the power that ordinary folks have because of their pension funds. It is without a doubt that Schneiderman had a fire lit under his butt by these funds -- and not by anyone else.
