That is the newest excuse being trotted out by the banksters: The regulators told them that it was OK to be scumbags and thieves.
Like this is any surprise. The Bush and Clinton Administrations eviscerated the regulators. The Republicans, in particular, have been blatant in their opinion that regulators solely exist to make life easier for the regulated industries.
But it's pretty brazen to basically say that one shouldn't be prosecuted for bank robbery because the cops were otherwise engaged in scarfing down crullers and coffee.
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