On Sunday, The New York Post posted an article that illustrates why the ‘no bail’ policy currently in effect in New York City does not work.

The article reports:

He’s the Grinch who stole your wallet.

A serial pickpocket with more than 30 busts under his belt was pinched again last week while targeting unsuspecting tourists at the Rockefeller Center Christmas tree, only to be dumped back on the street the next day, law enforcement sources and authorities told The Post.

Gary Teasley, 65 — who has been known to wear snazzy outfits, including a long dark fur coat and fashionable hat, during his alleged crimes — is so familiar to cops that they’re on a first-name basis, a source said.

Teasley is such an illicit pro that he also used to keep a storage locker with stolen wallets and other goods — and a detailed record of the heists, broken down by location and category, sources said.

The article notes:

Teasley was arrested Friday after police said they spotted him unzipping the woman’s purse and reaching inside, according to a criminal complaint filed in the case.

“We caught him red-handed,’’ a source said. “We called him by his first name. We said, ‘Hey, Gary, don’t give us a hard time.’ We’ve arrested this guy so many times, we’re on a first-name basis.

“He knows the deal, he was saying, ‘DAT, [desk appearance ticket],’ the whole bail-reform thing.

He’s “a very sharp guy, $1,000 suits, skilled at his craft,” the source said. “A wolf in sheep’s clothing.”

Teasley was hauled into court Saturday on charges of fourth-degree attempted grand larceny and “jostling.” He was released without bail.

Prosecutors had asked that he be released but with supervised restrictions, a rep for the Manhattan District Attorney’s Office said Sunday. The judge denied the request.

“I’ve personally been arresting him for 20 years,’’ a police source said. “These guys are all coming out of the woodwork around the tree.’’

I think it’s time to re-examine the consequences of the ‘no bail’ law.