As such, prosecuting Wall Street fraud is arguably an issue of national security.
The government is collecting everything … and spying on just about everything we do. So why can’t it gather info on the crimes of the big banks … so we can prosecute them?
You might assume that spying is only used to stop terrorism.
But the government has – in fact – often invoked national security powers in regards to the financial system. For example, Business Week reported on May 23, 2006:
President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations.
U.S. securities regulators originally treated the New York Federal Reserve’s bid to keep secret many of the details of the American International Group bailout like a request to protect matters of national security, according to emails obtained by Reuters.
This is especially true given that some of the biggest banks have been caught actively assisting terrorists.
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