An indictment would come by way of an empaneled Grand Jury.
So now you know why there was no Grand Jury empaneled with the eMail case. The "Powers" that be + she wanted to run.
It' all just the process of Criminal Procedure and the short circuiting thereof -- at least on the eMails thing.
The Foundation activity might be something else. Could nearly as much damage be sustained by Hillary in a political sense, if Bill and Chelsea get indicted? Think of the speculation about what did she know and when did she know it? Her trustworthiness is already a matter of widely expressed public disdain. Even (D) pollster Doug Schoen doesn't try to make excuses for her on this point.
Politically speaking, the public speculation is all that is needed. Imagine if Obama is now in the position of having to consider pardoning Bill. Does he? Dare he do so politically - for his own legacy's sake? Either way Hillary is screwed politically.
What if the plan is to do the necessary political damage - an October surprise maybe, if Comey has secretly empaneled a Grand Jury already on the Clinton Foundation, indict Bill, but avoid Hillary's actual indictment until such a time as Obama is powerless to pardon her? Whatever anyone says here, one must admit that Comey has already done major political damage to HRC.
Sure. It's complete speculation on my part but I've had an an awful lot of fun doing it!
FReegards!
