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AG Eric Holder Launches Criminal Probe On Wall Street
The inquiry into various hedge funds is no longer merely civil. The AG (yes, people, America does have an attorney general although you may be forgiven to think otherwise) is now officially involved. From Dow Jones: "Holder Confirms Criminal Probe On Wall Street"
Attorney General Eric Holder has confirmed that the U.S. attorney's office in the southern district of New York is conducting a criminal investigation of Wall Street.
At a news conference, Holder declined to say whether the investigation involves hedge funds and allegations of insider trading - as news reports have suggested. Holder would say only the probe by the U.S. attorney's office is very serious and is ongoing.
A week ago, the FBI searched the offices of three hedge funds in New York, Connecticut and Massachusetts as part of what outside experts say could turn out to be one of the largest probes in Wall Street history. Last Tuesday, mutual fund company Janus Capital Group said it was cooperating with an inquiry on insider trading.
h/t London Dude Trader
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What is this sweet music? =)
are the silverbugs comin' for Jamie? I didn't think they had enough evidence......
Doubtful. And until I see the fuckers getting frog marched into a small cell this is all smoke and mirrors. Think Gitmo - a bunch of privates, maybe a sergeant or two, but the officers and generals keep right on truckin'. GS and JPM will not be indicted. No way - they have paid the appropriate payoff/bribery fee already such that their will be at MOST a fine that is less than the profit made from the illegality in question.
And its taken this long to even be able to say they are investigating? Really? Really??? That is, if they have been looking into it all this time...
I would prefer cattle prod over probe to be used on Wall St.
Maybe they are going after hedgies who dare to short or sell stocks.
Maybe they are going after hedgies who dare to compete with the TBTF's
Maybe the whole thing is an Obamadrama version of Kabuki.
A good comedy ends with a wedding. (Would a TBTF marry one of the hedgies for the dowry?)
Effing A, Gold....Bitches, effing A, big guy!
I have not seen the black Alberto Gonsales, Eric Holder, do a single trustworthy thing since he's been AG.
He has continued on the unlawful, amoral and unethical litigation begun in the Bush-Cheney Criminal administration (sending whistleblower Bradley Birkenfeld to a federal penitentiary, continuing on with warrantless wiretapping, etc., etc., at least four items, probably more); but could anyone have expected differently from Holder, who earned his blood money successfully defending Chiquita and those oil corporations from their murdering of protesters and labor union organizers in South America and West Africa?
Holder is scum, pure and simple....
don't forget the water he carried for clinton on the marc rich (indicted for evading about $50 million in taxes, charged with about 50 counts of tax fraud, fled the country to avoid prosecution) pardon.
I didn't know we had an Attorney General. Haven't heard from him/her in quite some time. Huh.
Hence the Moniker: Eric "Empty Suit" Holder...
Eric "Place" Holder
Holder: "I am shocked, shocked to find gambling is going on in this establishment!"
Waiter: "Here's your winnings, inspector."
Markets up on news?
Huh?
Yea, what is with the bounce? POMO2, criminals in wikileaks and hedgefund probes, or just more medication?
Take a look at Nov 16, 22, 23 action in the EUR-USD. We are seeing the same pattern today. Most closely resembling the 22nd right now, which means this rally into the close could gain serious steam and end the market green. Don't forget though that the very next day, Nov 23rd, opened 15 points lower in the S&P, so if you're going long for this potential moonshot into the close, i wouldn't hold onto it for tomorrow.
With Spain's debt blowing out today, you cannot trust that this minimal move in EUR-USD will translate into tomorrow.
Good call so far!
Nah, that is just the syndicate popping the SPY to effectively exhaust RSI so they can create more units and then short them at the increased price level just prior to selling everything into the oblivion of the coming closing bell.
Not to worry...just a day in the life of the criminal syndicate known as Wall Street.
I read the news today, oh boy....
Had any member of the new black panther party managed any of these funds this would be a non-issue.
lol
Or anyone from the SEIU, or ACORN, or any Soros organization, or ......
Look at me, I'm someone now, I've finally been junked!
Junked Bitchezs!
Spot on.
Pure Evil? more like Pure Glenn Beck Zombie.
I will pity you when reality bites - not.
Who funds the most criminal 503-Cs? Soros, lamer.
you got that right.
This move is unexpected, it is too aggressive. Lord Maul, be mindful, let them make the first move.
This is a re-run of Nov 22nd. Take a look at EUR-USD on that day and SPY.
More window dressing from an incompetent administration.
Yet the almighty markets rise? Wow!!! amazing. POMO!! POMO!!POMO!!
In other news, banks rally on news that Holder is investigating them
AG Holder investigating? That's like Chester the Molester being given a badge and sent to investigate the local daycare. The market rallies because they know it's a whitewash.
What!
I thought Chester got the job as Head of Training in the TSA's Children's Inspection Directorate.
Disturbing he got transferred.
OH NO ! Eric Holder ! They must be really scared now ! What a FUCKING TOOL HOLDER IS
"it was gore's urine but hillary's handwriting."
Can we expect justice?, or will this just turn into another slap on the wrist like another well know Wall Street firm received?
When we start seeing perp walks and top executives being thrown in front of trains or found dead in their cars for no apparent reason, then we'll know it's serious.
"when we start seeing ... top executives being thrown in front of trains". so not just the mangled corpses but the actual toss? cool.
Yeah , holder and o are just putting a little pre-campaign xmas card in the mail to some of their dear friends.
Just a little reminder that coal in the stockings is not the appropriate reply this year................
Nothing more than weeding out any who might pose a threat to the TBTFs and a sleight of hand misdirection so that the sheeple are mollified. "obama dick" Holder has no clue as to what he's investigating; then again none of the Regulators do either.
Make those checks out to the Less Hope/Less Change 2012 PAC.
Probe the FED!!! That is who should be prosecuted
Wish in one hand.....
Ummm, correct me if I am wrong, but wasn't there supposedly an announced criminal investigation of Goldman before the hand-slap settlement with the captive and corrupt SEC?
Where exactly is that now?
Holder seems to be an attorney general in name only ... unless something threatens the sanctity of American rights, such as enforcing immigration laws ... he's right on top of it suing the enforcering state in the UN.
Obummer Administration is Like a Peter Sellers Movie...
Instead of Muffley, Strangelove and Mandrake...
It's just the same bumbling actor that will get ZERO results... as intended...
When Jamie & Lloyd Are In Cuffs
Trying to make Madoff bail... then I might take notice...
More like "The Revenge of the Pink Panther" Kato, where are you my little, yellow friend?
LOL 3D! In the Stores for X-mas?
And here I thought Holder was just a 2 dimensional card board cut out of an AG...
You're on the "Associates of Wikileaks" list now WillB7...
cool, where's his Chiquita banana peel?
William: Is Holder's fly open?
total lol
He's a jerk off isn't he?
Definitely not master of his domain.
+1,000,000
Eric Holder, along with Cheney, Bush and Rumsfeld, should be on trial at The Hague.
'Nuff said....
WB7, come on! Everyone knows Holder was selected for the job because he can't even jerk off, except the boss that is.
Doesn't he remind ya of Secretary Ron Brown from Commerce under Clinton, before the plane crash that is ... All the way to the Ron Jeremy mustache. Kinda like the Meg Whitman & Mary Schapiro hair styles (part excepted) & cheeks action. I bet you could place a flat map on those faces! :)
All those hedge funds, broker-dealers and ASSet manager MoFos who gave campaign $$ the the wrong party - all you MoFos will be sorry! And for the so far "undecided" - consider this to be a warning from the DoJ "expert network"
Payback!
Maybe so, but the "right" party was NOT the Republicons either! Check your premises.
"Holder Confirms Criminal Probe On Wall Street"
Holder doesn't have a criminal probe or any other kind. Ohhh, he lost his probe on Wall Street. I get it.
I'll decipher this for you:
The laundering of large scale narcotic and illegal-arms money will go on unabated.
The fact that he felt the need to emphasize that it is very serious likely means that it is a complete joke.
Is this the smae AG who was pursuing the legal case against BP?!?!
It's his MO. It's what he did in his prior career. Multinationals still run the show.
http://www.guardian.co.uk/commentisfree/cifamerica/2008/nov/25/attornery-general-eric-holder-chiquita
tanks for the link!
Last time I looked, Dog Holder was all bark and no bite. Why will this time be different?
Here comes the President seeking populism points as he becomes desperate to get elected in 2012. It should only increase from here.
This might have been news 2 years ago. Unfortunately for the spineless one, pretty speeches aren't gonna cut it anymore. First Shrub, and now this idiot. The American people deserve better.
this won't even rate a show press conference, much less a show trial.
Call me when the indictments come down. Otherwise, ho hum.
You might want to launch the same criminal probe or the Treasury Dept, the Federal Reserve, and will while your at it the NY Fed. Do you think for a second the insiders in those walls aren't affecting stock market outcomes.
Does Holder ever change his gloves before probing Wall Street?
Too bad Eric Holder is a douchebag, who's more interested in telling everyone that they're apparently still racist, rather than actually protecting the Constitution.
Many of you cynics see this just the way I do - it is extortion for campaign financing. Everyone knows that the banks bankrolled Obama's 2008 campaign, but they gave more to Reps than Dems in 2010. He's let Holder off the leash just long enough to get the message out - fill the bill, or go to jail. You gotta hand it to Barry, he knows how to play to win.
he certainly kicked those republicans around last election. clearly a man to be reckoned with.
+10
What the world needs now is a "Financial" Wikileaks.
hell yes. i don't know of anywhere secure enough to send juicy stuff.
anyone have any ideas?
Cyberspace is very large, my friend, and full of dark places.
The AG will go after all the little guys to the great benefit of the big cheaters.
Say Mr. AG. Pick a flag pole rally. Any flag pole rally. Better yet, pull my finger. Investigate Wall Street? Let's see how far you get before someone pulls an Elliot Spitzer on you.
smelliot was percieved as a threat, holder not so much.
Let me know when his criminal probe of Goldman Sachs is complete.
http://abcnews.go.com/Business/wireStory?id=10515739
So I guess the 'very serious' remark was to let everyone know that all donations must exceed $10mil from each organization to get their 'Get Out of Jail Free' cards?
Forget about perp walks - wake me when their heads are on pikes.
To find out more about the Imminent Collapse of American Capitalism, watch this video " WIKILEAKS, QE GAZILLION, OBAMA'S FAT LIP, AMERICA DEAD !! at (http://youtu.be/N0fRlwL2pnQ).
by Anonymous
Most likely this is so they can justify censoring the internet.
Your right about the banks, they should have? failed, now they are taking over everything with our money.
Anyway, America has had at least 3 major depressions.
I thought the Bush 'Dubya' Administration was bad.
But at least they admitted they were in the bag for the fucking financial engineers/shysters/bonafide criminals on Wall Street.
That makes the 'Hopey/Changey' Obama Administration worse by a factor of at least 1.5
Reminds me of the movie Clear and Present Danger:
The President: You'll take the blame. Cutter and Ritter will take some too, but it won't amount to much. They'll get a slap on the wrist and $20,000 an hour on the lecture circuit. The rest, you'll dump on Greer. Yes, you'll take him down with you. You'll destroy his reputation. But it won't go any further than that. It's the ol' Potomac two-step, Jack.
Jack Ryan: I'm sorry, Mr. President, I don't dance.
Hollyood as a Bollywoody
I'd reccomend you look up EH's former clients.
They're going to take Wu Tang Financial down. I can feel it.
Holder?
HOLDER?
This is too funny...
Yes! Welcome to the party, Eric! Criminal Investigations means jailtime, not silly little $$$fines.
Agreed! That whole 'accused of stealing Billions and settled with the SEC for a couple million while admitting no guilt bullshit' is getting a little old.
Just more prime O2 being wasted by another prime group of wasted talent. Lawyers, both government & private sector are in a class all their own for wasting the resources of the nation and its populace. In this I cannot but agree with Mikla in the view that paying these clowns anything more than minimum wage is a waste of fiat. Especially in a nation where the rule of law is being run by Kanga & Roo from Pooh land.
I am sure Eric Holder is simply using this as a bargaining chip for a partnership on the Street since all the folks at treasury, SEC & the CFTC have been braggin' on their packages. Perhaps this is a simple effort at getting educated on the workings of Wall Street since what there was of federal talent in this space was diverted a decade ago to track down what books folks checked out at the library thanks to more lawyers. Lawyers that work at Cal Berkeley & the 9th Circuit of all places. Eric must not like the bay area or the pay that goes with remaining on the public payroll as much as he does the concept of a government backstopped barely legal entertainment corporate expense account. Thanks again to more lawyers of course.
At a moment in history when the nation and indeed the world cry out for the leadership and intellectual prowess of a Justice Louis Brandeis we get stuck with a bunch of Supremes that love nothing more than to administer Boss Hogg justice wearing their Daisy Dukes under their robes, Ruth excepted of course who prefers her GI Joe boots. Unfortunately it goes downhill from there the lower ya go on the totem pole of "justice".
If the government becomes a lawbreaker, it breeds contempt for law; it invites every man to become a law unto himself - Justice Brandeis
well put, with the possible exception of the slap at kanga and roo. a real kangaroo court is more like, say, obama's prosecution of whistleblower thomas drake. the term means the court proceeds by leaps to its conclusion, maybe like accusing someone of espionage without accusing them of spying or requiring the defense to name its expert witnesses months before trial (never required of any defense previously). maybe sort of like that.
obama/toolholder justice for actual miscreants, especially the plugged-in, cash-generating kind, is lyrebird justice. it can sound like chainsaws ripping, trucks plunging, dynamite exploding but it's really just birdsong and, with a flap of its wings, it's gone.
Funny. Prior to the midterm elections, for two years after the most fraud EVER... not so much as an investigation was announced. This hurt the Dems badly with their base, left progressives with no where to go while tea party happily took the mantel of rebellion. After the midterms, when the House is lost and both party's interests in gridlock are secured, the investigation rollout is announced.
I've always assumed crime and punishment would be a necessary predicate for 2012 reelection. But, I didn't think it would be crisply and obviously avoided before the midterms.
Consent decree means no cattle prod either. They'll pay a fine and promise never to screw us again.
All probe, all heads turned the other way.
Wake me when Holder-justice isn't a perverted drinking fountain refill with crotch scan.
I wonder if they are starting at the bottom of the bribe/campaign donor list...
Holder, huh? Poke me when they go to trial (rather than some bullshit settlement for pennies on the dollar). You can actually wake me up if they get a meaningful conviction on fraud or RICO statutes.
Holder