Why the OSC so rarely gets its man

[Dennis]

what kind of a man doesn't stick by his friends?

Perhaps one who values integrity over cronyism?

[worthy]

It wasn't a lapse in judgement. It was a perfect congruence of personalities. Kerik's history was long and sordid.

I was but once at OSC headquarters interviewing a lawyer there. Very impressive high-tech locks. Hushed halls and bustling young thngs. I can't remember the story, just lots of mumbledy-gook. I preferred the company of entrepreneurs and real estate hustlers.

[Chuck]

I often think, if the OSC seems like a waste of space, what about the pipsqueak provincial regulators like the Manitoba Securities Commission.

I don't know how many bureaucrats are employed there (google reveals 37) but I bet the only thing in the office without cobwebs on it are the expense accounts.

[lystgl]

what kind of a man doesn't stick by his friends?

Perhaps one who values integrity over cronyism?

Know any politicians like that?

[Dennis]

As a matter of fact.....yes

[lystgl]

As a matter of fact.....yes

?

[InvestingQueen]

Macleans recently had a cover article on this subject

Broadly though, the OSC is reflective of the permissive, head in the sand, politically correct collective mentality of Canadians - we are soft on all crime period.

The Macleans article noted the extreme difficulty in prosecuting white collar crime - because - it is usually a conspiracy in configuration.

Meaning, more than one person, alot of time spent covering tracks VS random crime which usually leaves a larger footprint for law enforcement.

The article also said that finding qualified staff trained in Conspiracy analysis etc is very, very difficult.

Most important, the article noted the decline in interest in investing in Canada because of the lax laws - this will of course have a long term impact on business.
__________________

It is laughable that the USA is busy charging many Canadian individuals and companies for white collar crime and Canada does nothing.

They don't call Canada "A Great White Waste Of Time" for nothing!

InvestingQueen

[WishingWealth]

InvestingQueen
'They don't call Canada "A Great White Waste Of Time" for nothing!'

or the Mexicans of the North depending on the mood.

'the OSC is reflective of the permissive...mentality of Canadians '
I partly agree; IMO, I still think this is a lame/lazy excuse used by a fat cat who just loves doing well, not very much and tries to blame it on 'The Canadians'

WW

[Bylo Selhi]

Solutions to market regulation faults sought

Problem: Legal talent
Solution: Create a team of expert prosecutors focused on market crimes, to work in a special court...

Problem: Accountability
Solution: The Ontario Legislature should take on a more proactive role...

Problem: Deterrence
Solution: "Shift the mindset"...

Problem: Revolving doors
Solution: Pay incentives [and no David, they don't mean you] and better training...

Problem: Legislative handcuffs
Solution: Change the law to allow investigative subpoenas...

Problem: Leadership
Solution: Someone [and no David, they don't mean you] must take the lead...

[Bylo Selhi]

Joe Groia feels heat from Law Society

If the regulator succeeds in its accusations, Mr. Groia would be the only person to be in any way sanctioned in the fallout of the Bre-X gold salting scandal that wiped out billions of dollars in stock value and left Canada with a black eye for poor stock market policing...

Mr. Groia faces potential sanctions over caustic trial remarks that questioned the integrity of the OSC, which brought the charges against Mr. Felderhof.

[worthy]

"First, we kill the lawyers."

But it is is odd that it is the fraternity itself offering to do the job. Interesting tactic: Currying public favour through fratricide.

Since we're following up, I note that the speedy US justice system has jailed Rudy (talk about yesterday's news!) pal Bernie Kerik for attempting to taint the jury pool in his upcoming corruption trial.

And Rudy is more than mulling a run for the governorship of the Empire State. The bloody flag of 9/11 still waves! Two countries occupied, another (Pakistan) teetering on dissolution, a million dead furriners and Rudy figures the blood lust can still carry him into higher office.