Crooks

Remember the SEC/Citigroup case a judge threw out because, on the whole, he found it too lenient and wanted an admission of guilt? Instead of going to trial and convicting, the SEC is appealing the ruling. Why? Because:

The S.E.C. has long contended that it must settle most cases rather than take them to trial because its limited resources cannot afford much litigation. In addition, the commission says it frequently achieves in its settlements much the same result that it could hope to obtain in court, without enduring the expense of a trial.

It's the first half of the equation, not enough money to pursue crooks, rather than the I don't think we could have got more money half, that explains why prosecution for financial fraud is at a 20 year low.

This situation is, if you are wondering, by design.