Assistant Attorney General Admits On TV That In The US Justice Does Not Apply To The Banks

Tyler Durden's picture

Those who watched Frontline's special on why nobody has been prosecuted on Wall Street titled appropriately "The Untouchables" didn't learn much new. The rehash of ideas presented is what has been well known for years - namely that when it comes to prosecuting Wall Street criminals nothing will ever happen, because as Bill Gross tweeted " Its not Republican in politics. Its not Dem in politics. Its money in politics" and all the money in politics comes from Wall Street, which happens to be the ultimate ruler of the United States of America, pushing levers here and pulling stringer there to give the impression the constitutional republic is still alive. It isn't - this country has become an unchecked despotism of those in charge of money creation and who control capital - just the thing Andrew Jackson warned against. One thing we did learn, was courtesy of Assistant Attorney General Lenny Breuer who made it very clear that when it comes to the concept of justice the banks are and always have been "more equal" than others. He does so in such shocking clarity and enthusiasm that it is a miracle that this person is still employed by the US Department of Justice.

To wit from the transcript:

MARTIN SMITH: You gave a speech before the New York Bar Association. And in that speech, you made a reference to losing sleep at night, worrying about what a lawsuit might result in at a large financial institution.




MARTIN SMITH: Is that really the job of a prosecutor, to worry about anything other than simply pursuing justice?


LANNY BREUER: Well, I think I am pursuing justice. And I think the entire responsibility of the department is to pursue justice. But in any given case, I think I and prosecutors around the country, being responsible, should speak to regulators, should speak to experts, because if I bring a case against institution A, and as a result of bringing that case, there’s some huge economic effect — if it creates a ripple effect so that suddenly, counterparties and other financial institutions or other companies that had nothing to do with this are affected badly — it’s a factor we need to know and understand.

In other words, no criminal charges can be levied against anyone who engaged in the crimes leading to the great financial crisis of 2008 because, get this, the implications of pursuing justice may have destabilizing implications!

In other words, the banker threat of Mutual Assured Destruction has metastasized from the legislative, where in 2008 Hank Paulson demanded a blank check from Congress to spend it on whatever he wishes, "or else...", and has fully taken over the Judicial, where there is Justice for all... and no "Justice" for those who are systemically important.

Ted Kaufman summarizes:

TED KAUFMAN: That was very disturbing to me, very disturbing. That was never raised at any time during any of our discussions. That is not the job of a prosecutor, to worry about the health of the banks, in my opinion. Job of the prosecutors is to prosecute criminal behavior. It’s not to lie awake at night and kind of decide the future of the banks.

Alas Ted, it appears it is.

Frontline's conclusion was perfectly expected: "to date, not one senior Wall Street executive has been held
criminally liable by the Department of Justice for activities related to
the financial crisis

We now know why: it is because of people like this:

Lanny A. Breuer was unanimously confirmed as Assistant Attorney General for the Criminal Division on April 20, 2009.
As head of the Criminal Division, Mr. Breuer oversees nearly 600 attorneys who prosecute federal criminal cases across the country and help develop the criminal law. He also works closely with the nation’s 94 U.S. Attorneys’ Offices in connection with the investigation and prosecution of criminal matters in their districts. Mr. Breuer is a national leader on a range of federal law enforcement priorities, including financial fraud, health care fraud, public corruption, and violence along the Southwest Border. He has also been a leading voice on policy issues related to criminal law enforcement, including the scope of prosecutors’ discovery obligations in federal criminal cases and sentencing disparities between crack and powder cocaine offenses. Mr. Breuer regularly testifies before Congress on the Administration’s policy initiatives and advises the Attorney General and the White House on matters of criminal law.  Mr. Breuer also serves as the Department's representative on the Atrocities Prevention Board, which President Obama announced in April 2012.  For his work as Assistant Attorney General, the National Law Journal named Mr. Breuer a "Visionary" in the Washington, D.C. legal community, and he was recently ranked sixth on Ethisphere’s list of The 100 Most Influential People in Business Ethics.


Mr. Breuer began his legal career in 1985 as an Assistant District Attorney in Manhattan, where he prosecuted violent crime, such as armed robbery and gang violence, white collar crime, and other offenses. In 1989, he joined the law firm of Covington & Burling LLP, where he worked until 1997, when he joined the White House Counsel’s Office as Special Counsel to President William Jefferson Clinton. As Special Counsel, Mr. Breuer assisted in defending President Clinton in the Senate impeachment trial.


Mr. Breuer returned to Covington in 1999 as co-chair of the White Collar Defense and Investigations practice group, where he specialized in white collar criminal defense and complex civil litigation and represented individuals and corporations in matters involving high-stakes legal risks. He also vice-chaired the firm’s Public Service Committee. At Covington, Mr. Breuer developed a reputation as one of the top defense lawyers in the country.

Full Frontline episode for those who missed it:

Watch The Untouchables on PBS. See more from FRONTLINE.

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Xibalba's picture

And you thought the 'Get out of Jail Free Card' was just a game card.  Well, I guess 'justice' in regards to 'Wall St.' is in fact just a board game.   

Manthong's picture

The rule of law is not being applied equally in the US.

Think about it.. “promote the general welfare” isn’t about EBT cards..

It's about assuring justice.

Pladizow's picture

"The real menace of our republic is the invisible government which, like a giant octopus, sprawls over our city, state and nation. At the head a small group of banking houses generally referred to as “international bankers.” This little faction of powerful international bankers virtually run our government for their own selfish ends.” – John Hylan. N.Y.C Mayor 1922

"The few who understand the system, will either be so interested in its profits, or so dependent on its favours that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests." – John Sherman - Protégée of the Rothschild Family

"When a government is dependent upon the bankers for money, they and not the leaders of the government control the situation, since the hand that gives is the hand that takes. Money has no motherland; financiers are without patriotism and without decency; their sole object is gain."- Napolean Bonaparte

"Banking was conceived in inequity and was born in sin. The bankers own the earth. Take it away from them, but leave them the ability to create money and with the flick of the pen they will create enough deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will disappear and they ought to disappear, for this would be a happier and better world to live in. But if, you wish to remain the slaves of bankers and pay the cost of your own slavery, let them continue to create money." - Sir Josiah Stamp, Director of the bank of England in 1928, reputed to be the 2nd wealthiest man in England at the time.

Say What Again's picture


There is NOTHING - absolutely NOTHING - that can cause this "market" to sell off

GetZeeGold's picture



They should just print that off and show it on CNBC. Then everyone could just go home.

AlaricBalth's picture

I would argue that a return to the concept of Frontier Justice is warranted. Wall Street has devolved into nothing more than a modern version of the Wild West, where the most corrupt individuals preyed on the shopkeeper, the rancher, the farmer and those who couldn't afford to pay off the local sheriff.

DoChenRollingBearing's picture

What is Lanny Breuer's address?

"There is no justice." -- Dave Hokanson

HoofHearted's picture

When someone kills Bernanke, will they be able to say that they had to do it because of the destruction it was causing? Will it be considered justifiable homicide with no jail time for the "perpetrator"? And why not hang Bernanke and Greenspan already because of the terror they have waged on the U.S.?

Thomas's picture

Breuer could not have looked worse--more corrupt--than he did last night.

Troll Magnet's picture

Awwwww...Isn't that sweet? A Jew prosecutor protecting his fellow Jew criminals on Wall Street. Let's give more aid to Israel!

BaBaBouy's picture

Hoo Hummm ...

Is He Just ANOTHER SachsOf Gold Stoogie???

AlaricBalth's picture

Here is Breuer's full quote in his address to the New York Bar on 9/13/2012. And a link to text of the full speech.

This man should be removed from his post, he clearly does not comprehend his stated job description.

"To be clear, the decision of whether to indict a corporation, defer prosecution, or decline altogether is not one that I, or anyone in the Criminal Division, take lightly. We are frequently on the receiving end of presentations from defense counsel, CEOs, and economists who argue that the collateral consequences of an indictment would be devastating for their client. In my conference room, over the years, I have heard sober predictions that a company or bank might fail if we indict, that innocent employees could lose their jobs, that entire industries may be affected, and even that global markets will feel the effects. Sometimes - though, let me stress, not always - these presentations are compelling. In reaching every charging decision, we must take into account the effect of an indictment on innocent employees and shareholders, just as we must take into account the nature of the crimes committed and the pervasiveness of the misconduct. I personally feel that it's my duty to consider whether individual employees with no responsibility for, or knowledge of, misconduct committed by others in the same company are going to lose their livelihood if we indict the corporation. In large multi-national companies, the jobs of tens of thousands of employees can be at stake. And, in some cases, the health of an industry or the markets are a real factor. Those are the kinds of considerations in white collar crime cases that literally keep me up at night, and which must play a role in responsible enforcement. "

TruthInSunshine's picture

 The historically "revised" Gettysburg Address, now in full motion:


"... this nation, under God, shall have a new birth of freedom -- and that government OF the BANKS, BY the BANKS, FOR the BANKS, shall not perish from the earth."

Divided States of America's picture

Big fuckin surprise....Another integral part of the Jew Crew that is here to rape the non Jews.

Troll Magnet's picture

I wonder if this corrupt Jew's reasoning can be adopted by all other criminals.

"Your honor/ladies and gentlemen of the jury, if you find me guilty and send me to prison, my family members will cry and may have to find work to survive.  I simply cannot go to jail."


johnQpublic's picture

I wonder if himmler was systemically important to the nazi cause


Or if the banks could just declare a few to be like franchise players

Like a really good qb gets a pass on rape charges

But a non traditional qb does time for dogfighting



eatthebanksters's picture

'Huge economic ripple effect'....would that be campaign donatons drying up?  Or maybe financial favors for crony friends?  These fuckers need to be dealt with harshly.

marathonman's picture

Dealt with harshly?  I saw all I needed to see in the RNC nomination process with Ron Paul getting the silent treatment from Fox News (and the rest of the MSM) and then watching his delegates get back-stabbed, robbed, and shit on in the nomination.  These people command the military and will lie about anything and everything.  They'll kill and destroy to protect their racket.  It's hard to go gangsta' on these guys when they have better weapons, more thugs, and no morals.  The best way to deal with them is to prepare to bail out and let it turn to shit in their hands.

Bandit und Buster's picture


Got that RIGHT! 

Don't suppose he also has DUEL citizenism w/ a small 'alllied' nation do ya? Hmmm


a growing concern's picture

It's high time to hang some of these cocksuckers from the nearest lamp post and leave them for the vultures.

kliguy38's picture

That's going a little too IMO........there is no reason to poison the vultures for anything

Badabing's picture

Thats ok the banks are subject to lynch mob justice

BurningFuld's picture

Let's not forget the drug companys that knowingly KILL People.

No criminal charges...EVER!

lostintheflood's picture

those who couldn't afford to pay off the local sheriff.


where's matt dillon when ya need him?

yogibear's picture

"There is NOTHING - absolutely NOTHING - that can cause this "market" to sell"

Until Wall Street sucks in the retail investors.

The retail donors buy at the top and sell at the bottom.

Works out well for the professionals!


Popo's picture

This is actually a jailable admission.  He swore an oath and openly admits to violating it.  

The French had a wonderfully eficient contraption for taking care of those who betrayed their people in favor of the elite.  

Ham-bone's picture

You sir, have an outdated view of "justice" in America.  The term is flexible and under redefinition as we speak...think "situational", "maleable", and certainly "well sighted" rather than "blind"...est

Plain and simple, the "greatest among us" should not be burdened by the same norms as per the commons...for it is only through these giants that "progress" of the commons may occur...don't hate them for their superior intellect and societal importance

Fish Gone Bad's picture

Life as we know it, appears to be as crabs fighting over garbage in the trashcan of life.  Meanwhile, Fukushima has not been fixed and just keeps spewing radioactive waste into the atmosphere, soon to either mutate all our children, or just outright kill us all.

Fukushima Sam's picture

Relax, I'm sure everything is fine over in Japan.

AgAu_man's picture

"The French had a wonderfully eficient contraption for taking care of those who betrayed their people in favor of the elite"

So do Americans, so do Americans. ;-)

HoofHearted's picture that someone can find his ass and hang him?

ParkAveFlasher's picture


e_goldstein's picture

I want a t-shirt that says:

"Jon Corzine rehypothicated my MF Global Account

and all I got was this AR-15."

Buckaroo Banzai's picture

You forgot one:

"Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it.

They know that America is not a place of which it can be said, as it used to be, that a man may choose his own calling and pursue it just as far as his abilities enable him to pursue it; because to-day, if he enters certain fields, there are organizations which will use means against him that will prevent his building up a business which they do not want to have built up; organizations that will see to it that the ground is cut from under him and the markets shut against him. For if he begins to sell to certain retail dealers, to any retail dealers, the monopoly will refuse to sell to those dealers, and those dealers, afraid, will not buy the new man's wares."

--Woodrow Wilson

Watauga's picture

That is an absolutely amazing quote.  Essentially, Wilson admitting the reality about his masters.  Yet, by his admission, he suggests he is not part of the cabal.  Wow.  Wilson was as evil (Federal Reserve, World War I, relentless, progressive government toward One World Global Govt) as any President in history, and in this quote he even admits of the evil, and somehow pretends to condemn it.  As twisted and perverted and corrupt and evil as the actions, lies, deceits, and frauds of the current occupant of 1600 PA AVE.

Pladizow's picture

"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." –Frederic Bastiat

"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. Corporations have been enthroned, an era of corruption in high places will follow, and the money-power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in a few hands and the republic is destroyed." - Abraham Lincoln

"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks." - Lord Acton 1834-1902

Ignatius's picture

Lanny went on to say "My butt doesn't stink. Here, get closer."

Ignatius's picture

"As a result of the war, corporations have been enthroned by the war, and an era of corruption in high places will follow.  And the money power of the country will endeavor to prolong its reign until all wealth is aggregated in a few hands and the Republic is destroyed."  -- Abe Lincoln in a letter to a colonel 5 months before his death, as quoted by philosopher John McMurtry, University of Quealth, Ontario Canada

Fukushima Sam's picture

And of course, Abe caused it, what with not allowing the South their right of self-determination and all.

Chupacabra-322's picture

@ Pladizow,

"When plunder becomes a way of life for a group of men,
living together in society,
they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it."
Frederic Bastiat, (1801-1850)



"The illusion of freedom [in America] will continue as long as it’s profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theater." --Frank Zappa

Bandit und Buster's picture

And This:

"And judgment is turned away backward, and justice stands afar off: for truth is fallen in the street, and equity cannot enter. Yea, truth fails, and he that departs from evil makes himself a prey: and the LORD saw it and it displeased him that there was no judgment."

Isaiah 59:14-15

Bandit und Buster's picture

"They (the Jews) work more effectively against us, than the enemy's armies. They are a hundred times more dangerous to our liberties and the great cause we are engaged in...It is much to be lamented that each state, long ago, has not hunted them dodwn as pests to society and the greatest enemies we have to the happiness of America."  George Washington (from "Maxims of George Washington" by A.A. Appleton & Co.)

JohnF's picture

False, false, false, false. Not accurate, not real, not even Memorex.