The inquiry produced few indictments because the cases were beyond the statute of limitations, had insufficient evidence, amounted to double jeopardy or the accused had died.
Policing the program has become a cottage industry for federal investigators, who have found money squandered over the years on foolish projects and on things like company picnics, gifts and bonuses, and who have won quite a few indictments related to the grants.
Many New York City prosecutors reacted slowly and brought few indictments as foreclosure swindles and mortgage fraud swept the city during the past decade, allowing problematic operators to flourish even as the nation's housing market rose and crashed, according to housing lawyers, prosecutors and federal reports.
In the aftermath of the embarrassing corporate spying scandal that wracked Hewlett-Packard Co. with a wave of investigations, resignations, a lawsuit and a few indictments, Chief Executive Mark Hurd has managed to turn humiliation into vindication.
With those other national examples [of brutality], I would say those are only a few indictments.
So far, there have been few indictments, and the fear is that the small fish will face the media firing squads not the big names like former Treasury Secretary Robert Rubin or his successor Hank Paulson, or regulators including former Fed Chairman Alan Greenspan who enabled and encouraged the housing bubble.
"You're all going to need my hookup, right?" Another defendant, a local businessman, Robert Moy, advertised ticket fixing in a local newspaper, saying that he "tackles the traffic ticket and guarantees no points or fewer points," the indictment said.
He called for "shorter trials, more focused indictments and fewer accused".
The unity government had been widely expected to collapse after the tribunal announces the indictments, but few expected it to fall so soon.
Foreign governments fear the instability that might ensue if Mr. Bellemare issues indictments, so few will regret it if he doesn't.
