Because financial fraud prosecutions have fallen even further under Obama than under Bush:

During the first 11 months of the 2011 fiscal year, the federal government filed 1,251 new prosecutions for financial institution fraud. If that pace continues, TRAC projects a total of 1,365 prosecutions for the fiscal year. That’s less than half the total a decade ago.

The decline in these new cases stands in contrast to the government’s broader approach to federal criminal prosecutions. Federal prosecutions for other crimes have grown tremendously, with the number of total new prosecutions filed for all federal crimes nearly doubling over the last decade:

(emphasis original)

As you can see, federal prosecutions have skyrocketed:

But prosecutions for financial fraud have fallen.

If you were wondering whether or not Obama was a willing captive of Wall Street, this should disabuse you of this.

The only hope here is to play on his weakness and cowardice to force him to do the right thing, because it’s clear that his better angels lie with the Vampire Squid.^*

^*Alas, I cannot claim credit for the bon mot describing Goldman Sachs as a, “great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” This was coined by the great Matt Taibbi, in his article on the massive criminal conspiracy investment firm, The Great American Bubble Machine.