Am I taking this too personally?

I work for an engineering company as document control for a big project. We have inspectors that report on the work being done. My boss is a fairly new manager and we are close. I am having huge issues with one of the inspectors. I don't know if they're my issues, but, he has been late close to 20x in less than a year. I don't mean just a little late, like 1 hour late with no phone call and then he calls in with some stupid excuse and obviously he has slept in. He is very irritating to everyone including my boss but she does nothing. He has been reprimanded several times and told that if he's late again, he's fired. This didn't happen. He is a known drug user and it's been evident many times that he was high. My boss doesn't want to accuse him. There are other issues as well. I get so mad about him and find it disgusting that everyone else works hard and has good ethics and he is the opposite and gets away with everything.