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Since 2007 it has also had prosecution powers.
The 342-page law is a compendium of increased police and prosecution powers.
6.52pm: McDermott says the FSA has used its criminal prosecution powers in insider dealing cases, but doesn't have such powers in the Libor rigging case.
The law, passed overwhelmingly in Congress just 45 days after the terrorist attacks, is a grab bag of enhanced police and prosecution powers.
The public must have confidence that justice was done, and the attorney general cannot treat an investigation of the president the way he can treat any other investigation, precisely because of the sweeping prosecution powers the president wields.
As a result, a large swath of responsible center-right observers are demanding a full review of the investigation and prosecution powers wielded by the Obama-era Justice Department and FBI.
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Our Constitution gives the president the full prosecution power in Article II; accordingly, any federal prosecutor works ultimately for the president.
Formally, such immunity is confined to her congressional testimony and doesn't prevent criminal charges altogether, again because the Constitution gives the president the prosecution power.
"Given the scanty resources that have been committed to corporate crime enforcement, I think the government's leveraging of its prosecution power from corporations and their lawyers has been critically important," said Daniel C. Richman, professor of law at Columbia and a former assistant United States attorney in New York.
Now -- ironically, just as Buffett's letter was being published, the man it'll take to make it happen -- Christopher Dodd -- is agreeing to defang the agency, strip it of independence and most prosecution power -- its a victory for all those Republicans and business groups who've poured billions --inclulding bailouts of bailout dollars - into lobbying against any agency with teeth.
Savanaramuttu, the analyst, believes that war crimes allegations make it impossible for the Rajapaksas to contemplate surrendering the impunity from prosecution that power and office brought.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com