Here are some facts: The SEC has about 10 Attorneys that work on stock cases. They have DOZENS and DOZENS of cases that flow into their office each year. The process is extreamly lengthy and they have to take only the big cases, i.e. Enron, etc. It is not impossible that they might take a case like this but remember, what's is 70 complainants when you have 10,000 in other cases? The government has to work harder with less resouces..it is been that way for at least 15 years now. They cut personnel constantly from these federeal agencies. How do you think they pay for Iraq? As for the FBI...they have been rededicated to the war on terrorism since 9/11. Their principle focus is no longer white collar crime when they have terrorism as well as the traditional cases such as kidnapping, murder on federal installations, etc.
the sad fact is that there just may be no resouces to go after Frank...or if they do assign someone, it may take years, and he will be dead and gone by then.
How do I know all this? I was a senior executive in part of the Tresury department in the late 90's, wrote part of the law and was than charged with implementing it on a government wide basis that deals with pursuit of judgments obtained by federal agencies, and worked with agencies like the SEC, FTC, FBI, and any other alphabet soup group you would like to name.
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