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Attention Shifts To Rip Van Eric Holder, Who Contrary To Conventional Wisdom, Is Not Frozen In Carbonite

Tyler Durden's picture





 

Finally, with about a two year delay, popular opinion has finally caught up with the fact that America has an Attorney General, and that Attorney General is not getting paid $186,600 a year merely to conduct medical research on the dangers of carbonite freezing. In its headline article "Prosecutors Faulted for Not Catching Credit-Crunch ‘Bandits’" Bloomberg has done what every other media was supposed to do years ago, namely ask the well-rested Eric Holder what the hell is the reason that not a single criminal investigation being launched against an entire generation of criminal and corrupt bankers (granted, not all of them....just the multi-millionaires). "In November 2009, Attorney General Eric Holder vowed before television cameras to prosecute those responsible for the market collapse a year earlier, saying the U.S. would be “relentless” in pursuing corporate criminals. In the 18 months since, no senior Wall Street executive has been criminally charged, and some lawmakers are questioning whether the U.S. Justice Department has been aggressive enough after declining to bring cases against officials at American International Group Inc. (AIG) and Countrywide Financial Corp." It is stunning that this is only the first time someone in the mainstream media has had the temerity to actually wonder why nobody had previously thawed Holder from his resting place deep in the nether regions of Jaba's barge where his carbonite statue is publicly presented for all to enjoy.

Some observations on why America can just do away with its ranks of public prosecutorial muppets:

Prosecutions of three categories of crime that could be linked to the causes of the crisis -- corporate, securities and bank fraud -- declined last fiscal year by 39 percent from 2003, the period after the accounting scandals at Enron Corp. and WorldCom Inc., Justice Department records show.

“You need a massive prosecutorial effort,” said Solomon Wisenberg, a white-collar defense attorney at Barnes & Thornburg LLP in Washington and a former federal prosecutor. “I don’t see evidence that it’s happening. If we were talking baseball, it would be at the AAA level.”

The Justice Department and Federal Bureau of Investigation dispute that, saying they are continuing to investigate potential wrongdoing connected to the emergency, and some probes didn’t find criminal behavior. They say they stepped up mortgage-fraud prosecutions, which more than doubled in fiscal 2010 from 2009, the first full year for which there is data.

And some more:

To prosecute fraud, the government generally must show
executives knowingly made false statements or omitted the truth
about a company’s financial health. Bankers have argued that
they broke no laws and can’t be blamed for an industry-wide
breakdown in risk controls.

Well, for those who have read Levin's paperweight, so aptly summarized by Matt Taibbi, this is not the case, so if only Holder would be so kind to stop accepting indulgences from his Wall Street amigos, he may be better served (and serve the public) to actually do his damn job. For once in his life.

Luckily, the anger is building:

“Can that many companies have collapsed -- large financial firms -- and not one criminal case comes out of it?” said Peter Henning, a law professor at Wayne State University in Detroit who previously was a federal prosecutor and attorney for the SEC. “That seems to go against the norm of the savings-and-loan crisis, and the accounting frauds 10 years ago.”

Lawmakers such as Representatives John Conyers of Michigan, the House Judiciary Committee’s top Democrat, and Zoe Lofgren of California have criticized the Justice Department. At a May 3 hearing, Lofgren said prosecutors were more focused on immigration offenses than the financial crisis.

“The department is spending its resources prosecuting nannies and busboys who are trying to get back to their families,” she said. “And yet we have not brought any prosecutions on the bandits on Wall Street who brought the nation and the world to the brink of financial disaster.”

Which is short hand for nothing will change. After all, Wall Street didn't spend a few hundred million in lobbying for nothing.

Holder, 60, told reporters on April 26 his department is reviewing the conduct of Wall Street firms to determine whether crimes were committed. “There is certainly a basis for us to look, as we are, at some actions that were taken by some institutions and by some individuals,” he said. “Whether those will result in prosecutable cases, I don’t know.”

In at least two major cases linked to the financial crisis -- those of former AIG executive Joseph Cassano and Angelo Mozilo, former chief executive officer of mortgage lender Countrywide -- prosecutors concluded there wasn’t enough evidence to bring charges, people familiar with the matter have said. They spoke on condition of anonymity because the investigations weren’t made public.

Gratned, there have been some truly brutal wristslaps. Brutal.

The SEC brought a civil case in which Mozilo agreed to pay
$67.5 million over claims he misled investors about the firm’s
exposure to risky loans.

So instead of Agent Orange, here is what the DOJ is focusing on:

Using government data compiled by Syracuse University’s Transactional Records Access Clearinghouse, a nonprofit research center, Bloomberg News identified cases coded as corporate fraud by the Justice Department last year. Most involve people accused of stealing from companies, not wrongdoing by firms themselves.

They included the president of a roller derby team in Ohio, who skates under the name “Sadistic Sadie” and was accused of manipulating the ticketing system of her employer, United Airlines, to slash the cost of travel for her friends, family and teammates. A Maryland case involved a man who embezzled from his company. In New Jersey, a spa owner was prosecuted for a scheme to avoid paying taxes.

These are truly the villains haunting America's society. All those other guys in Manhattan, London and Brussels, well, they just do god's work. And in imitating the Outcast of Omaha, if questioned about this, or any other matter in the future, the elite Wall Street-based clergy will simply refer the questioner back to a release... form signed by Holder and granting Wall Street's criminal syndicate a perpetual get out of jail card for free.

 


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Mon, 05/23/2011 - 10:33 | Link to Comment tellsometruth
tellsometruth's picture

ahaha great title! needed the laugh. thanks ZH

Mon, 05/23/2011 - 10:38 | Link to Comment tellsometruth
tellsometruth's picture

I did this about the injustice I see. Yeah I posted it before but who among you all has confronted a Central Banker on the Record? Was exhilirating and written about here

http://forensicstatistician.wordpress.com/2011/04/13/hi-ho-silver/

 

Mon, 05/23/2011 - 11:47 | Link to Comment tellsometruth
tellsometruth's picture

I was the only person to do something on a 4 am night bus on friday night near Finnsbury Park when a blonde was being beaten by her large black boyfriend for trying to push his passed out ass up because they were going to miss their stop. He slammed her head up against the bus window with his hand on her throat two seats away from me. I was in shock but it only got worse from their she fought back but he landed blows, I shouted to stop. Nothing happened. After it was apparent none of the men on the full double decker were going to do anything I acted. I ran down stairs banging on the bus drivers window telling him a girl was being beat up.

His first response was "we have close circuit cameras". Neat so when she is dead maybe you will get a conviction? I ran halfway up the stairs to make sure it was going on and oh yess now he had trown her in the eisle and kicking her. I pleaded with the bus driver to stop the bus so we could stop the fight and get the guy off the bus. after another stop he complied. he headed up the stairs with his hand on the knife holder on his belt, but by that time the extreme violence had calmed somewhat as she was not able to get up really. The black bus driver was immediatly able to break through to the asshole and surprisingly he left with out any incident and started walking up the hill towards Manor House Station.

I went back upstairs to see how she was doing. She had a large visible lump on her forehead and a split lip along with some swelling on hear cheeks, I was surprised she was still concious to be honest after all the head trauma she took. Two rather large Irish ladies who were visiting and I got her off the bus, but not before some Asian (when I say asian I mean from India or Pakistan as that is how they are refered to here) jerk was yelling at ME FOR STOPPING THE BUS CAUSE HE "HAS TO WORK IN THE MORNING"  and wanted to get home.  I could not believe it. Dessensitsed to the MAX. Sorry you were incovinced so you did not have to watch a girl beaten to death on ride home and had to wait 5-10 minutes for me to convince the bus driver to stop the bus so we could get the monster off. I shouted at him "Are you HUMAN!????" He got offended and stood up and yelled shit back, but that is all I wanted to say.

She apparently lived with her abbusive boyfriend and would have gone home with them, but  we insisted she have an ambulence check her out and go somewhere else as she was going into shock.

It took about 20-30 minutes for the police to show up which surprised me since I see them constanly with here and another 10 minutes longer for the ambulance.

While waiting she broke down saying it was not the first time and that her good friend had told her parents recently that this guy was abussive. She very much wanted to call her parents but they were on Holiday as they say here. She sobbed "why does he do this to me, I love him!"  The Irish women rightly repeated many times she needed to move on and make this the last time. As I sat there with my arm around her as she cried wearing my jacket split lip I think she came to a realisation that it was wrong what had happened. Where in the begining she did not want "to cause drama"

When the ambulance got there she got in and did not come out. One of the Irish ladies got in with her and when she came out before it left she said they thought she had a serious concusion. I was busy describing the situation to one of the officers along with the perp and my disgust for the willingess of the herd to keep in line during something so obviously wrong.

 

Now this won't sour me on London but just confirms what I already know: big cities desensitize.

I refuse to not act when I see something that wrong.

 

please whether in your professional life or personal life do the same

 

Mon, 05/23/2011 - 21:36 | Link to Comment Captain Benny
Captain Benny's picture

I always carry some form of weapon with me, usually a small knife.  Never had to use it and hope I never do, because if I draw it then things will get bloody.  Always try to calm the situation first with force being the last resort.

Its hard overcome the fear of stepping into a fight, but you'll be amazed at what you can do when you overcome that fear and become fearless.  Most humans subcounsciously detect fear and/or lack there of and even a heavily drunk person can... 

Always remember: If you step into a fight, there are no limits to far far it goes.  Don't dish out petty punches to the face, give the asshole a shot to their throat.  Take them out quick and get it done with.

Mon, 05/23/2011 - 10:54 | Link to Comment IBelieveInMagic
IBelieveInMagic's picture

Agreed. This is the kind of writing that keeps me coming back to ZH!

Mon, 05/23/2011 - 12:13 | Link to Comment bankonzhongguo
bankonzhongguo's picture

Holder was a disgrace to justice under Reno and triple the disgrace under Obama.  Any attorney with a shred of professional ethics and moral character would vacate their position under this (mis) Administration.

Whenever I run into some hapless AUSA, I always poke my finger in their chest and tell them I wouldn't hire them to hose out a KOA shithouse. I double dog dare them to arrest me for assault.

Brave agents in the field building cases for nothing.

Justice is not blind. 

She's now a turned-out whore left bleeding in a ditch on the side of the road after Bush and Obama.

Mon, 05/23/2011 - 10:31 | Link to Comment Abiotic Oil
Abiotic Oil's picture

He's too busy running guns into Mexico for the drug cartels to shoot Border Patrol agents with.

Mon, 05/23/2011 - 10:39 | Link to Comment TheTmfreak
TheTmfreak's picture

The more he can help out the drug cartels the more they can do work with the War on Drugs.

 

Mon, 05/23/2011 - 11:04 | Link to Comment redpill
redpill's picture

Heckuva job!

Mon, 05/23/2011 - 12:10 | Link to Comment Rainman
Rainman's picture

...yup...promises die hard when there is a billion in campaign money to be raised from the marks. Where else will Barry get his money.......the little people 25 bucks at a time ???

Mon, 05/23/2011 - 13:35 | Link to Comment 11b40
11b40's picture

The enthusiasm for Obama seems to be dropping like a rock in these parts...at least when it comes to reaching in your pocket and pulling out cash.  Donations from the little individual donors in this neck of the woods is about as low as I have seen it....not a good sign for the Dems next cycle.

 

On the other hand, it may be because of how screwed up his opposition is.  Time will tell.  Perhaps the Republicans will nominate Cain....he may be the one most able to actually give Obama a run for his money.

Mon, 05/23/2011 - 15:09 | Link to Comment A.W.E.S.O.M.-O 4000
A.W.E.S.O.M.-O 4000's picture

And as a fat rich pathetic white Republican I want Obama out of the White House because?

Mon, 05/23/2011 - 17:12 | Link to Comment downwiththebanks
downwiththebanks's picture

Guns in, drugs out:  capitalism, baby.

Mon, 05/23/2011 - 10:32 | Link to Comment aint no fortuna...
aint no fortunate son's picture

Holder's a gutless moral coward... still taking duck boat tours down the potomac.

Mon, 05/23/2011 - 17:15 | Link to Comment downwiththebanks
downwiththebanks's picture

Bullshit:  Holder is holding the line.  He's doing his job.

He's doing PRECISELY what you'd expect from the fascist AUC's lawyer!

All hail Chiquita bananas!

Mon, 05/23/2011 - 10:36 | Link to Comment RobotTrader
RobotTrader's picture

The mortgage crisis is so 2008.....

I noticed that Goldman Sachs is now green.  Investors must be celebrating the huge, world record profits which GS must have made on Dan Norcini's infamous "Ratio Trade".  Now they have switched to the long side and will probably make even more money this quarter than anyone has imagined.

Gold is green, XRT is green.

Lows are probably in for the rest of the year.

Mon, 05/23/2011 - 10:50 | Link to Comment Arius
Arius's picture

thats right 2008 is history - why should Eric Holder stick his neck out and make an enemy out of Goldman?? he is not stupid afterall...if senator levin wants to go after goldman well he can it do once Eric holder leaves office...give the man a break to enjoy the perks of the job and make some favors to Goldman...Blankfein has a long memory...

Mon, 05/23/2011 - 11:11 | Link to Comment oogs66
oogs66's picture

And like Dinallo who left government to work for MS, Holder can join countless others who cash in on their years of doing nothing against the big banks by getting a cushy high paying job in reward.

Mon, 05/23/2011 - 10:47 | Link to Comment mayhem_korner
mayhem_korner's picture

We'll be longing for the good ol' days of the '08 mortgage crisis pretty soon...

That green on GS is gangrene...

Mon, 05/23/2011 - 10:37 | Link to Comment Long-John-Silver
Long-John-Silver's picture

You can't prosecute the people operating the country. Where would you get your election funds if they are in jail?

Mon, 05/23/2011 - 10:52 | Link to Comment Urban Redneck
Urban Redneck's picture

Eric the Bag Holder's other business - selling pardons to convicted billionaires.

Mon, 05/23/2011 - 10:33 | Link to Comment williambanzai7
williambanzai7's picture

The man does not have the legal intellect for it and he is a better lawyer than Debtbama.

Mon, 05/23/2011 - 10:36 | Link to Comment aerial view
aerial view's picture

Attorney General Eric Holder-"Bag Holder for the criminal elite". His law professors who actually believe in the law must be so proud of him.

Mon, 05/23/2011 - 10:45 | Link to Comment Careless Whisper
Careless Whisper's picture

he's irrelevant. keep your eye on ny attorney general schneiderman. he's been dropping subpoenas from a helicopter. and he has a weapon that no one else has. it's called "the martin act" which includes civil and/or criminal penalties for financial securities fraud.

Mon, 05/23/2011 - 11:10 | Link to Comment aerial view
aerial view's picture

let's hope he stays away from Ashley Dupre's circle of friends.

Mon, 05/23/2011 - 10:38 | Link to Comment Monedas
Monedas's picture

Seal Team 6 report to Washington DC immediately ! Monedas 2011 Will Obama´s trashy Irish connection save his sorry black ass ? These liberals have not shame ! They define "Political Pornography" ! http://trololololololololololo.com/

Mon, 05/23/2011 - 10:39 | Link to Comment bobola
bobola's picture

Maybe he should change his last name to Holdon.

Mon, 05/23/2011 - 10:41 | Link to Comment Rick64
Rick64's picture

Replace him with William Black.

Mon, 05/23/2011 - 11:05 | Link to Comment Josh Randall
Mon, 05/23/2011 - 10:42 | Link to Comment Tom Terrific
Tom Terrific's picture

He's just one of the many pathetic puppets of TPTB.  Disgusting piece of shit.  The only thing he's allowed to prosecute are peer to peer downloaders, persons speaking their mind on the internet, or people in foriegn countries that publish whistleblower material.  Did I say it already?  He's a disgusting piece of fetid shit.

Mon, 05/23/2011 - 10:45 | Link to Comment Kina
Kina's picture

I think it is not at all surprising and I thought they should have understood it all by now that the purpose of regulatory, judicial and all politically chosen positions of authority are there for the express purpose of aiding corruption and protecting the corrupt.

 

Holder has been doing his job perfectly, surely.

 

I think much more important to the American people is that Julian Assange be threatened and persecuted if possible, regardless of there being any law that applies to him. Holder was doing his job beating his chest of Assange so needed the Carbonite rest. Now it is up to the military to waterboard some incriminating information out there little prisoner. Get assange at all costs.

 

The corrupt destruction of the US and Global economy by a bunch of corrupt banksters is not important to TPTB.

Mon, 05/23/2011 - 10:46 | Link to Comment apberusdisvet
apberusdisvet's picture

The fact that Holder was the prime driver (with Clinton) of the Marc Rich pardon, what could have anyone expected?  Hmmm.  I wonder how many shares/warrants of Glencore are in Holder's name in an offshore account?

Mon, 05/23/2011 - 10:51 | Link to Comment mayhem_korner
mayhem_korner's picture

Holder has been busy channeling Johnnie Cochrane, and now he's got a few pairs of "don't fit" gloves in his briefcase.

Mon, 05/23/2011 - 10:53 | Link to Comment Dr. Impossible
Dr. Impossible's picture

“You need a massive prosecutorial effort,” said Solomon Wisenberg, a white-collar defense attorney at Barnes & Thornburg LLP in Washington and a former federal prosecutor. “I don’t see evidence that it’s happening. If we were talking baseball, it would be at the AAA level.

barnes & Thronburg just happens to be the same law firm that protected Madison Center in South Bend, IN for YEARS...maybe some time should be spent researching just how effective they are in defending the public against "white-collar" issues... funny how locals in South Bend can't even find legal help against Madison Center/B&T, due to....conflicts of intrest.

Mon, 05/23/2011 - 10:51 | Link to Comment So Close
So Close's picture

It is becuase he looks like an old Lando Clarissian...  Han Solo was frozen in carbonite.

 

Mon, 05/23/2011 - 10:54 | Link to Comment zaknick
zaknick's picture

You get the gov you deserve, AmeriKKKlansmen!

Mon, 05/23/2011 - 11:00 | Link to Comment lieutenantjohnchard
lieutenantjohnchard's picture

so for those of us who strongly opposed the administration, and voted otherwise, what kind of government do we deserve?

btw: what kind of government do you deserve?

Mon, 05/23/2011 - 12:13 | Link to Comment Vic Vinegar
Vic Vinegar's picture

It doesn’t matter what we deserve.  That kind of talk is irrelevant.  All that matters is what we have.  And all we have is a giant shitstorm of lies.

Mon, 05/23/2011 - 12:30 | Link to Comment lieutenantjohnchard
lieutenantjohnchard's picture

thanks for the tip. i'll keep your pearls of wisdom in mind.

Mon, 05/23/2011 - 17:23 | Link to Comment MisterMousePotato
MisterMousePotato's picture

Au contraire ... I get the kind of government that THEY deserve.

Mon, 05/23/2011 - 11:00 | Link to Comment Clint Liquor
Clint Liquor's picture

"Replace him with William Black" Rick64

Excellent choice, Rick.

William Black for Attorney General.

Harry Markopolos for SEC Chairman.

Mon, 05/23/2011 - 11:00 | Link to Comment FreeNewEnergy
FreeNewEnergy's picture

Eric Holder is the Invisible Man.

Mon, 05/23/2011 - 11:01 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Deep Capture = "your" politicians and the 'regulators' they appoint are bought off and paid for by those they're supposed to watch and punish, when appropriate.

Only a fundamental revolution disrupting deep capture could reverse the warp speed decline of the Republic, at this point.

Mon, 05/23/2011 - 10:58 | Link to Comment WallStreetClass...
WallStreetClassAction.com's picture

Obama is a black mascott of Wall Street. Then Giethner was appointed it was clear as day.

Mon, 05/23/2011 - 12:12 | Link to Comment Alex Kintner
Alex Kintner's picture

Yup, the Obama appointments were the early tell (with in 30 days of taking office) that the only "Change" coming would be the name tag on the Oval office door. The looting has continued unabated under Obama.

Mon, 05/23/2011 - 10:59 | Link to Comment Henry Chinaski
Henry Chinaski's picture

The administration needs the Wall St money to get reelected.  Or maybe Obama and Holder a lazy and incompetent.  Or both.

Mon, 05/23/2011 - 17:26 | Link to Comment downwiththebanks
downwiththebanks's picture

The former.  Where there are banker-gangsters, there is the drug trade.  And for that, Holder is your bagman.

Mon, 05/23/2011 - 11:05 | Link to Comment Amish Hacker
Amish Hacker's picture

Holder can't find a single banker who broke the law? Perhaps he could ask for help from the CFTC, who can't find any evidence of wrongdoing at the Comex.

Mon, 05/23/2011 - 11:18 | Link to Comment Franken_Stein
Franken_Stein's picture

 

What about Preet Bharara ?

U.S. attorney for the Southern District of New York (NYSD) at the Southern District Court of New York at Foley square, Manhattan.

Chief judge there is Loretta A. Preska.

 

I wonder if the courts in your failing and crumbling U.S. democracy are just clown shows.

 

It's time to fuck the Blankfeins and Dimons of this world into their rotten Wallstreet asses.

The ball is in your corner, America.

 

It's also time to heckle these clowns and shout them down at the respective annual shareholder meetings.

Why was it possible in 2009 to shout down politicians in townhall meetings protesting agains the Obama health care law, but it's not possible to do the same in shareholder meetings with the very people who caused all the financial mess ?

 

What the fuck ?

 

Why do you constantly export these TV series and franchises like "Law & Order" here to Germany, in order to show us how great and admirable your judicial system is, and then in reality when you dig deeper and take a closer look behind the grand illusion it's all just a joke and nothing more than hot air.

 

The symbol of America is the burger.

On the outside it looks tasty, but neither does it contain any nutritional value, nor does it give you longterm saturation. It's all just inflated nothingness that comes at a hefty price nonetheless.

 

America is no role model and certainly not the beacon of hope.

There's nothing the world could learn from you.

 

Mon, 05/23/2011 - 13:11 | Link to Comment tired1
tired1's picture

"There's nothing the world could learn from you."

You can learn how things go terribly wrong.

Mon, 05/23/2011 - 15:07 | Link to Comment Bob
Bob's picture

A GERMAN?  Really, I think they already learned that from themselves.  I would hope so, at least.  Of course, there's a lot to be said for multiple perspectives, for sure.  Perhaps the lesson for a German should be that societies must mature just as people do . . . and the shit they might do during their teenage years can go beyond crazy. 

Yeah, we're hypocrites.  But our German buddy, Herr Schmirk, should not find it so hard to put into perspective.  After all, we were the winners of WWII.  Seems the prize was license to do evil, one way or the other.

And we sure done done it. 

Hell, perhaps the Germans can return the favor we did for them by beating their asses.  Now they should go to war against "our" banksters. 

Help! Help! my German brother, I'm not a "good American," but the banksters don't even care . . .

+100 on the contempt, though.  That much is fair.  We've earned ours as well as the Germans have.

Mon, 05/23/2011 - 11:06 | Link to Comment ThisIsBob
ThisIsBob's picture

Dude couldn't make a living hustling cases in night court.  Every job he has had is because of who he was, not what he could do. 

Mon, 05/23/2011 - 11:07 | Link to Comment jimijon
jimijon's picture

Too funny... and it kept it up throughout. Bravo writing skills shown there.

Mon, 05/23/2011 - 11:11 | Link to Comment TorchFire
TorchFire's picture

No different than the Crimex investigations on silver manipulations. Reminds me of the last scene in "Raiders of the Lost Ark" when Jones (who, as the world's foremost expert in antiquities) asks exactly who the government would have working on the study of the ark of the covenant which they confiscated from him.  The reply he received? "Top people"

 

Mon, 05/23/2011 - 11:14 | Link to Comment ReallySparky
ReallySparky's picture

LMAO, "well-rested".  This why I read ZH, just casually scanning a story and then bam!

Mon, 05/23/2011 - 11:19 | Link to Comment janchup
janchup's picture

Ask the well-rested Eric Holder what the hell is the reason that not a single criminal investigation being launched against an entire generation of criminal and corrupt bankers?

Oh come on, it is utterly transparent. On orders from the White House, duh.

Mon, 05/23/2011 - 11:19 | Link to Comment janchup
janchup's picture

Oh, and another thing. The statute of limitations on these crimes runs out next year. Holder is running out the clock on orders from above, which would be Geithner and Obama.

Mon, 05/23/2011 - 11:22 | Link to Comment lizzy36
lizzy36's picture

People, Eric Holder is NOT the story. He is merely the messenger.

The story is that the administration had an agenda on prosecution, that did not INCLUDE actual prosecution of anything. The man mostly behind this agenda, and its execution with the support of the President was Rahm Emanuel.

We all remember that disaster that was Tim Geithner early in this Administrations life, and the Rahm basically took over Treasury for a time in February 2009.

Initially Holder wanted to investigate the torture that was American Policy under the Bush Administration.This quote applies equally to the administrations view on prosecutions related to the Financial Crisis:

But as Holder considered launching an investigation, he immediately began to feel pushback from the White House. Behind the scenes, as Jane Mayer has reported in The New Yorker, Emanuel barked to an intermediary, "Didn't he get the memo that we're not relitigating the past?" And appearing on the Sunday-morning talk shows in April, Emanuel pressed the issue publicly, insisting that the authors of the torture memos "should not be prosecuted. This is not a time for retribution." At the White House podium, press secretary Robert Gibbs chimed in, "Those that followed the legal advice and acted in good faith on that legal advice shouldn't be prosecuted."

.....yet the Obama administration had gone a step further, allowing operatives to apply political pressure on the attorney general himself. What's more, the pressure would continue for months. As late as August of last year, while Holder was still evaluating the evidence, Gibbs continued to rail against the investigation from the White House podium. "The administration has been very clear," he declared on August 20. "A hefty litigation looking backward is not what we believe is in the country's best interest."

Prosecution for malfeasance of any kind was simply never part of this administrations plan. One wonders if that is because, as respects the financial crisis, the regulators that got promotions, from the current administration are as guilty of malfeasance as any player on Wall Street?

Mon, 05/23/2011 - 12:03 | Link to Comment Tyler Durden
Tyler Durden's picture

Of course, but then at least get rid of the DOJ entirely. US is already bankrupt - save a little money at least.

Mon, 05/23/2011 - 12:30 | Link to Comment lizzy36
lizzy36's picture

With an annual budget of less than 10 business days of POMO (annual budget of $28B) one wonders what impact it would make. Of course, DHS has an annual budget double that of the DOJ. The DHS is the most redundant Department that currently enjoys full funding and the one that yanks should abolish tomorrow.

Alas with Congress quietly extending the Patriot Act last week (with no debate and little MSM coverage) to June 1, 2015, one realizes that the DHS is here to stay....BOOYAH.

Mon, 05/23/2011 - 15:09 | Link to Comment Alasdair
Mon, 05/23/2011 - 17:21 | Link to Comment downwiththebanks
downwiththebanks's picture

You've got to keep the flow of drugs and guns going.  It's Holder's expertise.

It's all about the money - it always is.

Mon, 05/23/2011 - 12:46 | Link to Comment Urban Redneck
Urban Redneck's picture

Attorney General of the United States of America.

Big fancy job titles often carry at least some responsibilities.

If he wanted to demonstrate that he was anything more than a good little porch monkey- Eric Holder has the option of following in the footsteps Elliot Richardson & William Ruckelshaus- if at any time he does not fully support the current Administration's lack of criminal prosecution for actions occurring on Wall Street.

Mon, 05/23/2011 - 12:49 | Link to Comment Urban Redneck
Urban Redneck's picture

dup

Mon, 05/23/2011 - 14:02 | Link to Comment eatthebanksters
eatthebanksters's picture

I don't buy your argument as any prosecutions for crimes are always after the fact, after the crime has been committed.  Opening wounds within our intelligence service is an entirely different thing to going after criminals in the private sector.  Obama has a fat hog who hands his campaign big dollars...that hog will be spared from the slaughter as long as the goods are delivered.  Obama is as big a fucking crook as the rest of them.

Mon, 05/23/2011 - 11:20 | Link to Comment laosuwan
laosuwan's picture

oh, yeah, I forgot the eric holder george soros connections

 

http://www.search.com/search?q=eric+holder+george+soros

 

Mon, 05/23/2011 - 11:26 | Link to Comment Monedas
Monedas's picture

Eric Holder's socialist dream is a cancer on the human soul ! We could tolerate a little of it if would just sit there begnignly fester in it's own pus ! Oh no ! They want to share their disease ! Monedas 2011 $3,000 suite complete with a chocolate on the pillow and a West African AIDS terrorist slut in the bathroom ! It couldn't have happened to a nicer Socialist than DSK ! Me happy ! http://trololololololololololo.com/

Mon, 05/23/2011 - 11:24 | Link to Comment Monedas
Monedas's picture

Hoarder's have more fun !

Mon, 05/23/2011 - 11:42 | Link to Comment MrBoompi
MrBoompi's picture

Maybe we're just naive when we think the DoJ hasn't been busy. It's hard work PROTECTING the billionaires.

Mon, 05/23/2011 - 15:13 | Link to Comment Alasdair
Alasdair's picture

Bingo

Mon, 05/23/2011 - 11:42 | Link to Comment Alex Kintner
Alex Kintner's picture

Holder has two sets of law books. There are 1,000 volumes of laws for us commoners. There's one Law for the Rich  -- "Look the other way."
 
 Besides, Obama just handed out all his pardons to Methamphetamine Dealers (seriously, Meth dealers!? Must be in the family tree.). There would be no pardons left for his Wall St BFFs.

Mon, 05/23/2011 - 11:48 | Link to Comment orangedrinkandchips
orangedrinkandchips's picture

"Money for nothing and your chics for free!"

 

cocksmoker watches porn for 5 hours a day and then goes home. $186k.....he's getting ripped off really.

Mon, 05/23/2011 - 13:20 | Link to Comment gwar5
gwar5's picture

DOJ has been very active, but doing all the wrong things, of course.....

Remember the NBPP billy-clubbers at the voting booth chasing away whites, charges were dismissed by Holder? Now this same form of 'racial justice' is coming to the nation's school systems.

5 FBI cars full of agents conducted simultaneous surprise raids on 5 Winston-Salem, NC public schools last month and confiscated records and computers. No arrests, yet. Their crime? They weren't punishing enough white kids according to Holder and the DOJ. 

Under perverse new school rules from the DOJ, black kids get to beat up white kids and the schools must literally seek out and punish white kids. Get that? That's right, seek out and punish white kids in our schools under this DOJ.

DOJ justification and how it works: If black kids make up 13% of a schools demographic but are statistically responsible for 25% of a schools disciplinary actions, then the school is committing serial felonies. Any suspensions/disciplinary actions of blacks over the 13% limit are all now illegal. Any gap in the black/white statistics is now willful illegal discrimination and racism -- by definition, period. Regardless of the individuals and/or the circumstances or facts on the ground. One statistical percentage point over the limit is henceforth proof of racism and a violation of civil rights.

Consequences: If two black kids get suspended for beating up a white kid the school might then, depending on it's demographics, be obligated to find as many as 10 white kids to similarly punish just to make the other two suspensions legal. Or, the school will have to altogethor stop punishing black kids who like to beat up white kids. If the schools don't do this then a school official could lose their job or go to jail. Louis Farrakahn couldn't have drawn up a better black supremacist policy. 

Extrapolating this concept to serious crime on the streets such as rape and murder is not far behind under Holder's DOJ. 58% of US inmates are black and only make up 13% of the general population, but it's most certainly because they were found guilty, not because they were victims of discrimination. Holder's DOJ doesn't care and is going to fix that, too, even though the DOJ's own racial stats on perps of all crimes reported backs up the inmate data perfectly. 

There is a radical female attorney within the DOJ who is aggressively pushing this lunatic racial agenda with Holder's approval. Lord help us all.

 

 

 

 

 

 

Mon, 05/23/2011 - 14:37 | Link to Comment rufus13
rufus13's picture

The NBPP is an easy fix. Here ya go: find out where they will be doing their "panther prowl" during the next election and send out a team consisting of four 220 pound 3-piece suit ninjas (white guys) and a small woman. The woman confronts the NBPP's within A/V range of well-placed video in the waiting-to-vote line and won't back down. She tells them to leave or else: "or else I'M takin' yoo out!" Shrill and loud, 105 pounds of Boston College terrier. If they lay a hand on her they get beaten to a coma by the team, and if they back down from a screaming little white woman with a bacon sandwich, they get on U-toob as lame leather-clad soldiers of Mo.  A set-up that would hardly be 90 seconds from start to finish. 

The Chicago Way is to just shoot them in the street, like the dogs they are, but this gives them a sporting chance at self-reform (if one believes in miracles). 

Cheers. 

 

 

Mon, 05/23/2011 - 17:18 | Link to Comment downwiththebanks
downwiththebanks's picture

What's your source, Benito?

Mon, 05/23/2011 - 11:53 | Link to Comment onlooker
onlooker's picture

Remember what happened when Bobby Kennedy went after the mob? What city is Obama from and connected to?

Tin foil hat stuff aside, Holder is up against the best lawyers in the World and will be in this through another 4 years of so. The Democrats loose funding and are made to look bad.

Too big to Jail. Enron was the first act under Bush. Act 2 under Obama. YERY unlikely the fat lady will sing.

Mon, 05/23/2011 - 11:58 | Link to Comment tao400
tao400's picture

You know why there is going to be prosecutions of companies and individuals. The government needs the money. Count on it happening.

Mon, 05/23/2011 - 12:06 | Link to Comment Alex Kintner
Alex Kintner's picture

Well, Corporations ARE the US Govt -- owned and controlled. Is there any doubt why it's been raining shit on the working class for the past 30 years? I'm not holding my breath waiting for the Corps to order their  Govt to investigate themselves.

Mon, 05/23/2011 - 15:37 | Link to Comment Alasdair
Alasdair's picture

I linked earlier to a post on Rolling Stone about this very subject, specifically the SEC.  Dems and Repubs are both incentivized to protect the status quo.  Corps have gotten great returns on their investments.

Mon, 05/23/2011 - 12:08 | Link to Comment indio007
Mon, 05/23/2011 - 12:25 | Link to Comment dcb
dcb's picture

How dare the media ask him to risk his future wall street earnings. WTF.

Mon, 05/23/2011 - 12:44 | Link to Comment buzzsaw99
buzzsaw99's picture

AG Holder-tits-bull

Mon, 05/23/2011 - 12:52 | Link to Comment onlooker
onlooker's picture

indio007

GREAT information. I am involved with a case in Texas and will take a hard look at this way to bring Justice.  

thanks a bunch

 

Mon, 05/23/2011 - 13:32 | Link to Comment rufus13
rufus13's picture

Mr. Holder is very busy covering-up evidence in his own treasonous activities concerning the movement of rifles to the Mexican cartels to bother himself with mere 13-digit white collar alleged crime. Failure to perform as the AG is a firing offense, while making war on another nation is a hanging offense against the USA. Who knows what Mexico would do with him after we hang him. 

 

See "Sipsey Street Irregulars". 

 

Cheers. 

Mon, 05/23/2011 - 13:47 | Link to Comment Rodent Freikorps
Rodent Freikorps's picture

Y'all are brave.

This AG will come after you for dissing him.

Mon, 05/23/2011 - 17:17 | Link to Comment downwiththebanks
downwiththebanks's picture

He won't come after you, NaziRat.  He'll defend you in court.

Mon, 05/23/2011 - 13:50 | Link to Comment eatthebanksters
eatthebanksters's picture

What do you expect from the guy who convinced Bill Clinton to pardon Marc Rich?  Holder is a clasic case of a person with situational ethics, he has no moral compass or character.  Plain and simple, he is not a friend of the common people, just like his boss.  Hope and change, huh? How about a great con job?!

Mon, 05/23/2011 - 13:55 | Link to Comment mayhem_korner
mayhem_korner's picture

Last thing I remember him doing was admit he hadn't read the AZ immigration law that he'd already thrown under the bus...

...maybe he's been taking reading lessons.

Mon, 05/23/2011 - 14:06 | Link to Comment Byronio
Byronio's picture

His testimony before Congress was inspiring:

A-G Holder: No Hate Crime Protection for White Christians
http://www.youtube.com/watch?v=8u6eGRvGinc

Mon, 05/23/2011 - 14:28 | Link to Comment sgt_doom
sgt_doom's picture

Great post on Eric "Chiquita" Holder.

And for anyone who missed this the first time:

FORENSIC ECONOMICS 101

Private equity firms/leveraged buyout firms manage and oversee the bulk of the largest pension funds (superannuation funds) out there, including most union funds.  They leverage these funds to destroy unions and future union employment, while structuring them with credit derivatives which profit themselves but end up destroying those funds.

With the destruction of those funds, which must either be bailed out or allowed to default, comes the further destruction of local governments as they are usually heavily invested (through their bond issues) in those pension funds.  Thus allowing the super-rich to go in and pick up new assets at bargain basement values.

This would be considered the optimal asset stripping.

U.S. foreign aid (US taxpayer assisted) is well known to be directed to countries which will then purchase weapons systems from defense contractors, but what is less known is what the greater slice of that foreign aid goes to.

The bulk of it is managed and manipulated by American-based multinationals to build foreign factories, production facilities, R&D labs, worker training, etc., to which the multinationals then offshore American jobs to, and create new jobs at.  Extreme examples of this were the two “free trade agreements” supported and passed during the Bush administration, lobbied on behalf of by former president, Bill Clinton (in the pay of the jobs offshoring industry), involving Jordan and Oman.

Foreign aid established factories in those two countries, which then imported the cheapest labor they could from Bangladesh and the Philippines, chiefly benefitting the American-based multinationals who exported those jobs to the factories, and the small number of wealthy and connected managers and owners in Jordan and Oman who managed those factories.

The co-opting of the conservation lobby (Nature Conservancy, League of Conservation Voters, Sierra Club, etc.) and the environmental lobby (those entities duped into supporting cap-and-trade) by Wall Street (corporate and individual land monopolists and oil/energy corporations).

For example, when a volunteer group works to set aside a tract of land for conservation purposes, etc., and they don’t continuously track the final result, they are unaware that some, or all, of the tract is eventually sold for pennies on the dollar to foreign corporations, either in a quid pro quo deal, or which is owned through circuitously laddered holding companies by an American-based multinational.

Also, various conservation groups will lobby on behalf of tax cuts and benefits for set aside lands, unaware they are working – for free – on behalf of those super-rich land monopolists.

The controlled, compromised and highly manipulated tax code which chiefly exists to benefit the one percent, the speculator class. 

 A traditionally popular example of this is the “Louis B. Mayer clause” dating back to 1954, where Mayer’s tax attorneys bribed the usual congressmen to insert a special clause in the tax section to allow Mayer to avoid paying taxes on his fortune when he retired.  This clause specified that only the special pre-existing tax situation (i.e., exactly targeting only Mayer’s situation) existing prior to the date of that clause was allowed – the complete antithesis of all legal foundation, i.e., a law is normally passed to be in effect which affects everyone after the passage of said law!

A recent example is the “Blackstone Group clause” – essentially the Blackstone Group bought some congress critters to allow them to continue paying the same capital gains tax rate after they went public, when by law they should have begun paying the higher corporate tax rate.  Some law professors (Davidoff comes readily to mind) would claim this was “deft tax law.” 

No, it is simply absolute corruption.

All money is hierarchically controlled as an asset to private sector institutions and elite capital holders who have the ability to call in their chips, i.e., your bank digits, where as it’s an interest-bearing debt to governments and the people.”   --- Damon Vrabel

A good investment is to own a senator, but a great investment is to own the US Treasury.”  --- Anon

Mon, 05/23/2011 - 14:42 | Link to Comment Problem Is
Problem Is's picture

And you thought Osama Bin Laden was a frozen corpse rolled out after years on ice...

Eric "Empty Suit" Holder is as frozen a zombie as they come...

Mon, 05/23/2011 - 15:06 | Link to Comment anony
anony's picture

Janet Reno, Eric Holder.

 

Brilliant choices for the Corporatocracy.   

 

Mon, 05/23/2011 - 15:40 | Link to Comment VodkaInKrakow
VodkaInKrakow's picture

The statute of limitations in The United States for federal crimes of a financial nature are... five years? Time is about up! This is the main thrust of the criminal investigations against 'suspected' criminals on Wall Street. Run out the clock.

Mon, 05/23/2011 - 16:25 | Link to Comment gkm
gkm's picture

Does he paid any more if he prosecutes?  No.

Does he get paid any less?  Maybe since there is likely a consulting gig in it for him if he doesn`t.

So what would you do?  Honestly.

Mon, 05/23/2011 - 17:18 | Link to Comment downwiththebanks
downwiththebanks's picture

The outrage and indignation of what is self-evident is startling.

We're talking about a bagman for Uncle Sam's drug running operation in Colombia, here.  Did you really expect a moral stalwart?

He's the perfect House Negro for the banker-gangsters.

Mon, 05/23/2011 - 18:33 | Link to Comment Pike Bishop
Pike Bishop's picture

And tonight, the American People will watch "Too Big to Fail" on HBO. Handmaiden Sorkin's stenographic paean to The Men Who Saved the World.

Or as some like to call it  "The 'Truth' as Told by the Phucking Criminals Who Made It Up".

Holder has a cameo in it as the shoeshine boy during the big shoot-out meeting at the Treasury. Watch closely as he gets big tips from the Bankers.

I hope they included a 2 minute break every half-hour, so people can clean the projectile vomit off of their TV screens.

There isn't a big enough tube of Preparation H in the entire world, which could get me through this defecation by the Mainstream.

Maybe the closing scene will be president Chimpy McFlightsuit's famous rendition of  "Can't fool the People..."

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