Approach Controller described a loss of separation event noting his fellow Controller's lack of professionalism and listing the current reporting program as problematic.

Narrative

My aircraft was on downwind and I waited until I had course divergence from the Air Carrier X departure prior to descent clearance. The person working the Departure position was working at the scope directly next to me. The departure was obviously issued a climb clearance because the next thing I hear is the conflict alert and Air Carrier X was climbing through 5;300 FT and headed northeast bound. My downwind Air Carrier Y was descending through 5;600 FT and the aircraft were about a mile apart. I issued traffic; but Air Carrier Y did not see Air Carrier X until appropriate separation was achieved. I then said to the Controller; 'He didn't get him in sight until he was at 6;000 FT.' The Controller's reply; 'It doesn't matter anyway.' I do not agree or like this reporting system. I have witnessed more operational errors since it's inception than ever before. Many of the errors I have seen were similar in nature to the one described above; preventable. Let me be clear; this program is creating and breeding a group of controllers who have no conscience. When there is no accountability; the rules no longer apply. Recommendation; cancel this program immediately.