The FBI has cut back more than 36 percent of its white collar crime staff since 2001, and shifted even more staff to counter terrorism duties. From 2001 to 2007, the F.B.I. sought an increase of more than 1,100 agents for non national security criminal investigations. Instead, it lost 132 agents.
The FBI has lost most of its ability to investigate financial crimes.
President Obama has said that much of the activity leading to the financial crisis was unethical, but legal. The American people believe his statements to that effect are made in ignorance. Investigations will uncover massive fraud. Order the Justice Department to make investigations of financial crimes its highest priority.