Tahlequah Daily Press

Editorials

November 13, 2013

EDITORIALS: NFL players are people too; Get serious on financial crimes

(Continued)

U.S. Attorney for Manhattan Preet Bharara, in announcing the settlement, said that “No institution should rest easy in the belief that it is too big to jail.” He called the fine “steep but fair,” and “commensurate with the breadth and duration of the charged criminal conduct,” according to a report in The New York Times.

Investor and SAC Capital owner Steven A. Cohen has personally escaped criminal prosecution so far, but officials say the U.S. Attorney’s office continues to look at trading records and seeks help from informants for possible criminal prosecution of Cohen. The plea agreement specifically states that no individual has immunity from further prosecution.

Not since the prosecution of junk bond promoter Michael Milken and Drexel Burnham Lambert more 20 years ago have Wall Street firms been held accountable for their misdeeds. Many have paid fines to the SEC over the years with the caveat of not admitting guilt.

Even that appears to be changing. The SEC filed a separate civil case against SAC that says Cohen looked the other way on misconduct of those who worked with him and is seeking to bar Cohen from ever being allowed to manage money that is not his own, according to the Times report.

Experts told the Times the criminal prosecutions like that of SAC are rare and suggest the Justice Department is no longer worried about economic consequences that occurred when Enron’s accounting firm Arthur Anderson was indicted and eventually shutdown, causing 28,000 jobs to be lost.

The SAC case represented a more serious approach to financial crime fighting when it began nearly a decade ago. Prosecutors and investigators began using techniques like wire-tapping and pressuring others to be informants, according to the Times report. Those tactics were typically used in drug or organized crime cases.

Now, it’s all too clear, financial crimes are organized and carry as much damage as drug, environmental and anti-trust cases.

It’s high time we got serious about these crimes again. Congress should support these efforts and make sure prosecutors have all the tools to make sure no one believes they are too big to jail.

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Editorials
  • Tourism Council and chamber should cut the proverbial cord

    They are defined by two separate purposes and operate under two distinctive sets of bylaws, but years of conflicting opinions have left lingering questions and confusion over the relationship between the decades-old Tahlequah Area Chamber of Commerce and the younger Tahlequah Area Tourism Council.

    July 30, 2014

  • NSU needs to be more candid when its plans go awry

    Many area residents were disappointed to learn this week that the NSU Fitness Center, and its all-important indoor lap pool, won’t open next month, as originally announced.
    This latest delay is no surprise.

    July 28, 2014

  • Higher premiums a just reward for drunken drivers

    Over the past several years, Oklahoma has slipped in many of the polls that count. This week, we learned Tulsa is No. 4 on a list of cities with high rates of fatal DUI accidents. Is anyone really surprised?

    July 25, 2014

  • Maybe it’s time to think about having another BalloonFest

    The 18th annual BalloonFest was the last one held, in 2010. In summer 2011, when the Daily Press staff hadn’t heard anything about the much-anticipated event, we started asking questions.

    July 23, 2014

  • If you see a drunken driver, take the time to call in a report

    If you see something, say something. You’ve heard the warning, and seen it imprinted on placards at airports. In the wake of 9/11, it became a national mantra, mainly aimed at spotting potential terrorist activities. But it’s good advice anytime, and for any reason, even at the local level.

    July 14, 2014

  • City officials should stop squabbling and try to work together

    It’s bad enough that the Chamber of Commerce scandal has given Tahlequah a black eye. But if the bickering among city officials doesn’t stop, the community will have a complete set of shiners for its public face.

    July 11, 2014

  • Only full disclosure will restore trust in the chamber

    Despite pressure from some quarters, neither the Press nor anyone else who values full disclosure will be clamming up until all the facts are known, and those who are responsible meet with justice.

    July 10, 2014

  • Only full disclosure will restore trust in the chamber

    A few board members for the Tahlequah Area Chamber of Commerce are saying they’ve heard nothing but positive things lately – about the chamber itself, and presumably, about themselves.

    July 9, 2014

  • Employer-sponsored insurance may now be a ‘hostage’ situation

    When the fallout settles from the Supreme Court’s Hobby Lobby decision, many Americans might decide they’re better off with health insurance that doesn’t come from their boss.

    July 7, 2014

  • With confidence in Congress at 7 percent, time for a new slate

    Note to Congress: We don’t like you. Not at all.
    A Gallup poll released Monday, June 30 confirmed what most of us already know: the American public is disgusted with the House and Senate. The survey recorded the lowest level of confidence since Gallup began asking the question in 1991: a whopping 7 percent. That’s not a typographical error; it’s a single digit.

    July 2, 2014

Poll

Do you think "blue laws" related to Sunday alcohol sales in Oklahoma should be relaxed? Choose the option that most closely reflects your opinion.

Alcoholic drinks should be sold Sundays in restaurants and bars, and liquor stores should be open.
Alcoholic drinks should be sold Sundays in restaurants and bars only; liquor stores should stay closed.
Liquor stores should be open Sundays, but drinks should not be served anywhere on Sundays.
The law should remain as it is now; liquor stores should be closed, and drinks should be served on Sundays according to county option.
No alcohol should be sold or served publicly on Sundays.
Undecided.
     View Results
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