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Eric Holder: Some Banks Are So Large That It Is Difficult For Us To Prosecute Them

Tyler Durden's picture




 

While it is widely assumed that the too-big-to-fail banks in the US (and elsewhere) are beyond the criminal justice system - based on simple empirical fact - when the Attorney General of the United States openly admits to the fact that he is "concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them," since, "it will have a negative impact on the national economy, perhaps even the world economy," one has to stare open-mouthed at the state of our union. It appears, just as the proletariat assumed, that too-big-to-fail banks are indeed too-big-to-jail.

GRASSLEY: On the issue of bank prosecution, I'm concerned that we have a mentality of too-big-to-jail in the financial sector of spreading from fraud cases to terrorist financing and money laundering cases -- and I cite HSBC. So I think we're on a slippery slope.

 

HOLDER: The concern that you have raised is one that I, frankly, share. And I'm not talking about HSBC now. That (inaudible) be appropriate.

 

But I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy. And I think that is a function of the fact that some of these institutions have become too large.

 

Again, I'm not talking about HSBC. This is just a -- a more general comment. I think it has an inhibiting influence -- impact on our ability to bring resolutions that I think would be more appropriate. And I think that is something that we -- you all need to -- need to consider. So the concern that you raised is actually one that I share.

 

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Wed, 03/06/2013 - 15:55 | 3305799 Say What Again
Say What Again's picture

Throw Holder in jail for not doing his job!!!!

Wed, 03/06/2013 - 15:58 | 3305804 ZerOhead
ZerOhead's picture
Eric Holder: Some Banks Are So Large That It Is Difficult For Us To Prosecute Them

Eric needs to change his name to Dick.  Now.
Wed, 03/06/2013 - 16:04 | 3305845 Dr. Richard Head
Dr. Richard Head's picture

Bernanke needs to change his last name to Dover.

Wed, 03/06/2013 - 16:07 | 3305867 tbone654
tbone654's picture

TBTP   great........

Wed, 03/06/2013 - 16:11 | 3305880 redpill
redpill's picture

How would it have negatively impacted global economies to put Jon Corzine in jail where he belongs?

Wed, 03/06/2013 - 16:20 | 3305925 tradewithdave
tradewithdave's picture

Since when are "The Hamptons" and their home prices NOT part of the global economy. Like duh....

Wed, 03/06/2013 - 16:28 | 3305947 NoDebt
NoDebt's picture

How would he know how hard it is?  He's never tried.

Wed, 03/06/2013 - 18:07 | 3306341 gmrpeabody
gmrpeabody's picture

Eric Holder..., that worthless piece of ...

Wed, 03/06/2013 - 20:02 | 3306788 old naughty
old naughty's picture

TBTProsecute...that's exactly why they get so big...and why they put him in there...and what they want you to believe...and...and...

let's focus on that eat-stuff...(oh that too), damned?

Wed, 03/06/2013 - 23:50 | 3307597 Town Crier
Town Crier's picture

Obama administration has said that taking bankers to trial would be "too disruptive" to the nation. Really? The truth is that nothing would generate more confidence than for citizens to see the criminal prosecution of the criminal bankers.

Thu, 03/07/2013 - 00:02 | 3307625 A L I E N
A L I E N's picture

Just do your own job independently Richard Holder..

Wed, 03/06/2013 - 16:30 | 3305955 NotApplicable
NotApplicable's picture

Who ya gonna call?

Trust Busters!

Wed, 03/06/2013 - 16:39 | 3305989 dontgoforit
dontgoforit's picture

Yeah.  Teddy would know what to do with them.

Wed, 03/06/2013 - 16:42 | 3306004 DaveyJones
DaveyJones's picture

I know what Eric means. Some deficits are so large that it's hard to reduce them

Once again, it's not a good sign when they no longer try to hide it.

Wed, 03/06/2013 - 18:06 | 3306334 gmrpeabody
gmrpeabody's picture

Eric Holder..., that worthless piece of ...

Wed, 03/06/2013 - 18:47 | 3306494 Big Corked Boots
Big Corked Boots's picture

Shit? Did you mean to say SHIT? SHIT!

(I'll go to confession later.)

Wed, 03/06/2013 - 19:42 | 3306707 Town Crier
Town Crier's picture

Eric Holder is a feckless drip. He has no business being anywhere near the halls of power.

Wed, 03/06/2013 - 19:05 | 3306568 ChanceIs
ChanceIs's picture

I wrote my Congresspuke a while back - via email - when the Lanny Breuer/HSBC drug money laundering non-prosecution went down.  I said......let me get this straight.....prosecuting a company which has been proven to have been criminally laundering drug money might cause a loss of confidence in that institution.  OK.  Let's do a little Einsteinian thought experiment.  I have $10.  I don't want to put it under a mattress.  There are two banks within a block.  Do I put it in the bank with the known criminals, or in the bank with the nice track record.  If the criminal bank tells the government to piss up a rope, what is the likelihood that they will tell me to do same when I want to withdraw my funds?  You know - can you come back next week after the poppy harvest in Afghanistan.  OTOH, if you know that the criminals have been purged then you might want to put your dough there.  How hard is that.

I didn't hear back.  I will call tomorrow.

 

 

Wed, 03/06/2013 - 16:12 | 3305887 nope-1004
nope-1004's picture

Eric Holder is part of the criminal syndicate.  Once the large bank execs go down, he goes with them.  What he is saying is:  "Pursuing bank execs will lead directly back to many like me.  We're not going there."

 

Wed, 03/06/2013 - 16:39 | 3305990 AlaricBalth
AlaricBalth's picture

Eric Holder and Asst. AG Lanny Breuer have now stated, on different occasions, that the SIFI banks are untouchable. What more evidence does one need to see who is pulling the strings and running this country. Dimon, Blankfien, etc. are the puppet masters and everything else is just bread and circuses.

Wed, 03/06/2013 - 16:58 | 3306055 NoDebt
NoDebt's picture

You didn't think Lanny Breuer was the only roach, did you?  His opinion on the subject was issued to him by his boss, Eric Holder.  Now, let me see here...... who is Eric Holder's boss?

Wed, 03/06/2013 - 17:07 | 3306078 AllThatGlitters
AllThatGlitters's picture

You don't need to prosecute the banks Mr. Holder.

You can just sic your drones on them. Ya said so yoself.

Wed, 03/06/2013 - 18:05 | 3306328 Omen IV
Omen IV's picture

none of it makes any sense

you can put in jail a 1,000 bankers and NOT indict the corporation - bank - i dont care about the bank i want BLOOD not dollars - put them in jail for twenty years each

you then dont have the system in danger but bankers in jail - no one cares about the bank - kill the banksters is enough !

Wed, 03/06/2013 - 18:11 | 3306354 AlaricBalth
AlaricBalth's picture

Omen IV you are right. Prosecution of bank executives will not trigger any derivative payouts and therefore there is no risk of systemic failure.

Wed, 03/06/2013 - 16:44 | 3306016 DaveyJones
DaveyJones's picture

What's this "we're" crap Eric. Every one of us, as a citizen, has a duty to uphold the laws.

Wed, 03/06/2013 - 16:14 | 3305890 Kaiser Sousa
Kaiser Sousa's picture

so can we put to rest forever the notion that anyone other than the bankers r the real US Fucking government...and all that play in their debt based currency slave forever to b casino r complicit...

IVE BEEN TELLING YOU MOTHER FUCKERS AINT NOTHING GONNA CHANGE TIL THE BLOOD OF THE SOCIOPATHIC BANKERS FLOWS....WHEN THE REST OF YA'LL R READY FOR ACTION LET ME KNOW...UNTIL THEN I'LL JUST KEEP STACKING MY SHINY....

 

FUCK THE BERNANKE, THE BANKERS AND THEIR BITCH OWNED POLITICIANS!!!!! 

Wed, 03/06/2013 - 16:19 | 3305918 TruthInSunshine
TruthInSunshine's picture

Eric Placeholder didn't get nominated & approved for his current post because he had any desire or intent of actually enforcing laws applicable to the banking complex that owns the legislative puppet assembly.

Wed, 03/06/2013 - 16:36 | 3305971 Kaiser Sousa
Kaiser Sousa's picture

and niether was Barack O'Sellout installed by a clueless electorate that thought "he gon'e pay my mortgage", and those hopey, changie' dumb ass dreamers................. 

Wed, 03/06/2013 - 16:10 | 3305876 AllThatGlitters
AllThatGlitters's picture

Hmmm...

So the AG says that big banks can steal your money, because he won't prosecute them.

The logical thing for the big banks to do then is to steal your money!

 

The logical thing for you to do?  

Remove your money from the bank and put it in something safer.  

Silver is catching a nice bid today.  Look at spot prices run:  http://www.pmbull.com/silver-price/

 

Wed, 03/06/2013 - 16:39 | 3305987 sodbuster
sodbuster's picture

Has anyone seen Mike Hunt???

Wed, 03/06/2013 - 18:01 | 3306314 eatthebanksters
eatthebanksters's picture

Please show us...

Wed, 03/06/2013 - 16:10 | 3305848 ParkAveFlasher
ParkAveFlasher's picture

Hey Eric, why not just admit you are an ineffective, whining bitch.  oh wait, you just did.

[edit] "I'd prosecute, but massa beat me, beat me real bad.  Ain' gon' make massa mad now, no sir."

Wed, 03/06/2013 - 16:17 | 3305906 MiltonFriedmans...
MiltonFriedmansNightmare's picture

The phrase house nigga do come to mind....

Wed, 03/06/2013 - 16:56 | 3306054 formadesika3
formadesika3's picture

Mr. Holder is not available to take your call.

Wed, 03/06/2013 - 16:05 | 3305849 El Hosel
El Hosel's picture

....Some Dicks are so little.

Wed, 03/06/2013 - 16:06 | 3305855 James_Cole
James_Cole's picture

"But I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy."

And no one seems to care, that's the thing I don't understand, he's basically saying, guess what rule of law doesn't exist - where's the outrage? 

The implications on the broader economy / society are pretty ugly, maybe that's why it's not a mainstream discussion. 

Wed, 03/06/2013 - 16:09 | 3305873 Joe Davola
Joe Davola's picture

Deep thought.

Head hurt.

Who wants that.

Wed, 03/06/2013 - 16:21 | 3305921 ZerOhead
ZerOhead's picture

There are actually now 3 distinct rules of law...

1) Anyone who commits criminal acivity that can bring the house of cards down or incriminate those in power walks.

2) Anyone with special connections to those in power or with substantial financial resources at their disposal walks.

3) The small fish who commit petty crimes get battered first... then fried.

Wed, 03/06/2013 - 16:40 | 3305996 Stuck on Zero
Stuck on Zero's picture

The banks are too large to handle but we can go after whole nations and countries and take them over.

 

Wed, 03/06/2013 - 16:49 | 3306029 DaveyJones
DaveyJones's picture

I see that every day zero. I am having a harder and harder time watching these young kids go to prison for possessing cocaine and reading this shit. Funny since they're also crime victims of the most heinous felonies in history

Wed, 03/06/2013 - 17:10 | 3306089 Dan Conway
Dan Conway's picture

Fried by a drone! 

Wed, 03/06/2013 - 16:35 | 3305963 razorthin
razorthin's picture

it will have a negative impact on the national economy, perhaps even the world economy."

Translation:  Our owners refuse to take a haircut on bad bets.

Hey asswipe, the national and world economies ARE its citizenry.  And the vast majority are hurt by your fiat, fractional reserve scheme.  The faster it implodes the better.  And there would be no more satisfying trigger than to see heads roll - including yours.


Wed, 03/06/2013 - 16:51 | 3306038 DaveyJones
DaveyJones's picture

It is an owner admission isn't it

Think it's also a self justification that as things get worse (due to them) more rules MUST be broken not only to kick the can to try and hide the truth 

Wed, 03/06/2013 - 18:04 | 3306320 rum_runner
rum_runner's picture

Who cares about that confusing stuff.  Snooki lost 40lbs!!

Wed, 03/06/2013 - 16:06 | 3305858 Say What Again
Say What Again's picture

Hey holder,

I have an idea.  Why don't you fly some of them drones over the banks and fire a few missiles at them.  You could break them up like a bad kidney stone.

Wed, 03/06/2013 - 17:12 | 3306100 Dan Conway
Dan Conway's picture

As much as I wish this would happen but Holder isn't going to shoot at his overlords.  May they all rot in hell with chavez. 

Wed, 03/06/2013 - 16:11 | 3305883 Ruffcut
Ruffcut's picture

He is a useless fuktard.

He is a supersized asshole so he can be the big dick holder. I wonder when does obama get his time to stick his head up there.

the Just US department

Wed, 03/06/2013 - 16:17 | 3305908 waterhorse
waterhorse's picture

I thought his first name was Place?

Wed, 03/06/2013 - 16:28 | 3305946 McMolotov
McMolotov's picture

Eric Holder: "Some banks are so large that they own the government."

Wed, 03/06/2013 - 16:44 | 3306014 Kayman
Kayman's picture

If they are too big to prosecute then they are too big to exist.  Bust them up.

Wed, 03/06/2013 - 17:24 | 3306134 sgt_doom
sgt_doom's picture

This morning on CNN (first time I've seen the talking twats in ages) they quote JPMorgan Chase as their financial "expert" --- which is strange, considering that JPMorgan has had to pay well over 200 criminal penalties for financial fraud over the past 10 years --- sort of like quoting Al Capone on those FBI-compiled stats, huh?

Any sane person now fully realizes that EVERYONE from the Bush-Obama administrations should be in jail --- or better yet, publicly executed.

There are no honest FBI agents, Secret Service agents, PMC (private military company) agents, etc., etc., etc.

Wed, 03/06/2013 - 16:04 | 3305842 THECOMINGDEPRESSION
THECOMINGDEPRESSION's picture

Criminals stick together. How can a criminal put another criminal in jail? Is that possible?

Wed, 03/06/2013 - 16:20 | 3305924 Bangin7GramRocks
Bangin7GramRocks's picture

It's a sad reality. Buffet's line that derivatives were weapons of financial destruction was correct. If the gubmint were to prosecute any of these guys, they would unleash hell on the world economy. It's not a by-product, I'm quite sure it has been an explicit threat! Mutual assured destruction 21st century style.

Wed, 03/06/2013 - 16:42 | 3306009 ArkansasAngie
ArkansasAngie's picture

Go ahead a let'em fly.  Im not worried in the least.  It will wipe out the 1% but ... then ... it's about time for that to happen.

If you ain't going to put criminals in jail then you are obstructing justice.  Let's start with Eric and see if we can find somebody who'll go after those arseholes.

BTW -- the global economy is so full of Bernanke's shat that a purge is about the only thing left

Wed, 03/06/2013 - 16:35 | 3305967 dr.charlemagne
dr.charlemagne's picture

When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.--That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, --That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.--Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.

Wed, 03/06/2013 - 16:53 | 3306042 Political_Savage
Political_Savage's picture

For some reason I give him credit for actually admitting it.

If he said the opposite, that it wasn't a concern and it doesn't influence their decisions, then I would really know he was lying.

Quite frankly, acknowledging it at least shows he's not an idiot or incompetent (thus the existing punishments were the best they could do)

Holder has shown what he is - a simple apparatik controlled by an ignorant and fearful "leader"

Wed, 03/06/2013 - 16:59 | 3306060 orez65
orez65's picture

Fucking unbelievable!

So might makes it right.

Our whole Western civilization, our philosophy, is that there is higher truth to which all must not violate.

And this shithead decides, on his fucking own, that banks are above the law.

And Obama doesn't fire him?!

And he is supposed to be a Constitutional scholar?!

God help us!

Wed, 03/06/2013 - 22:35 | 3307353 e_goldstein
e_goldstein's picture

Throw Holder in jail for being an accessory to murder.

 

Wed, 03/06/2013 - 15:55 | 3305801 Big Corked Boots
Big Corked Boots's picture

TRUTH LEAK!

Maybe this will get Holder out of office.... or not. He's probably in too deep.

Wed, 03/06/2013 - 17:16 | 3306112 Dan Conway
Dan Conway's picture

Holder probably wants out but his overlord wont let him leave.  He wants to enjoy spending all of the ill-gotten goodies that are due him.  Remember that most of these leftists/commies/govt workers want the fruits of power without doing the work. 

Wed, 03/06/2013 - 19:14 | 3306613 ChanceIs
ChanceIs's picture

Ed Meese (Ronald Reagan AG) got kicked out of office for screwing around with a defense contractor - Wedtech.  He propabaly ashould have been kicked out.  They wanted his head here in Washington.  Posters all over the place...."Meese is a pig."

Clinton's first two AG nominees, Zoe Baird and Kimba Wood, didn't see in the inside of the AG's office over NannyGate.  First and last time Bubba showed any integrity.

Wedtech and NannyGate pale by comparison to this s*&t that is going down with Holder.

Bobby Kennedy had some stones.  He was tearing the mob - you know, the Cosa Nostra - to shreds.  Maybe the best AG in the last 50 years.  Probably the reason brother Jack was whacked.

Query for the board:  What would do more harm to the global economy, shutting down the mafia, or throwing a couple of nbankers in jail?  Be honest now.

(What???  Are you asking me the difference between the mob and the mafia?  That is no fair.  You can't ask me that.)

Wed, 03/06/2013 - 15:55 | 3305802 azzhatter
azzhatter's picture

Holder- Too corrupt to hold office. Fuck You Holder

Wed, 03/06/2013 - 16:08 | 3305869 resurger
resurger's picture

This is an "extraordinary circumstance"

I vote to drone the fucker?!

Wed, 03/06/2013 - 15:57 | 3305807 Dr. Engali
Dr. Engali's picture

I have an idea.... Break the fuckers up you inept criminal.

Wed, 03/06/2013 - 16:04 | 3305841 Raymond Reason
Raymond Reason's picture

Or instead of levying fines, just imprison all senior execs.  And the next infraction, same thing, imprison all senior execs...until they realize the people rule.  Okay, back to my pipe. 

Wed, 03/06/2013 - 16:04 | 3305843 Mrmojorisin515
Mrmojorisin515's picture

doesn't go far enough, you have to get rid of the source.  A central bank is called a central bank for a reason, it creates a vortex of power and wealth that flows into the center

Wed, 03/06/2013 - 16:11 | 3305884 Dr. Engali
Dr. Engali's picture

The private central bank is an abomination that must go, but the break up of the large banks would be a good start.

Wed, 03/06/2013 - 16:39 | 3305991 pods
pods's picture

I think this brings into question the entity that allowed these corporate charters to do business to begin with.

pods

Wed, 03/06/2013 - 16:53 | 3306046 DaveyJones
DaveyJones's picture

dead on pods

banks almost admit, they're there to take as much from us as possible.

The government however, is assigned  little different job

They are the bigger criminals 

Wed, 03/06/2013 - 17:34 | 3306209 ceilidh_trail
ceilidh_trail's picture

I believe that the current iteration of the fed is our third or fourth go round with central banksters. The history is not positive. eric holder is a complete waste of time and would make for a good beginning on a budget cut- why spend money for nothing and not get chicks for free? (makes as much sense as holder's comment)

 

Break up the trusts just like they did a century ago!!!!

Wed, 03/06/2013 - 17:55 | 3306289 Panafrican Funk...
Panafrican Funktron Robot's picture

I would suggest shutting down even just JP Morgan would do 95% of the job.  Goldman is a bit player compared to JP Morgan.  So is Citi, B of A, etc.

Step 2 would be shutting down any banking entity with its global headquarters outside the US.  That's how you hit the other 5 global legs of the 6 legged cockroach.

  • Barclays Bank
  • Deutsche Bank
  • HSBC
  • JP Morgan Chase
  • Lloyds Banking Group
  • The Royal Bank of Scotland Group

 

Wed, 03/06/2013 - 20:00 | 3306783 Optimusprime
Optimusprime's picture

So you work for Goldman?

Wed, 03/06/2013 - 15:58 | 3305811 Dre4dwolf
Dre4dwolf's picture

Threaten them with drone fired hellfire missiles, that what Obama did to all the protestors.

Or Better yet

NATIONALIZE THE BANKS and Discharge all public and private debts, God knows the "public" has purchased their own debt 2000000 times over already.

Wed, 03/06/2013 - 15:57 | 3305812 astoriajoe
astoriajoe's picture

Isn't this exactly what Lanny Breuer said the other day?

Why does Holder still have a job? he should fire himself.

Wed, 03/06/2013 - 17:36 | 3306218 Unprepared
Unprepared's picture

In the head, preferably.

Wed, 03/06/2013 - 16:28 | 3305814 Sudden Debt
Sudden Debt's picture

BULLSHIT!!!!

IT'S LIKE THAT THAI HOOKER THAT SAID:
NO FUCKYFUCK, YOUL DICK TO BIG FOL PUSSY!
YOU TBTF, TO BIG TO FUCK!!

BULLSHIT I SAY!!

JUST STICK IT! SUCK IT UP AND SWALLOW!

Wed, 03/06/2013 - 16:35 | 3305965 pods
pods's picture

Too beaucoup.

pods

Wed, 03/06/2013 - 16:38 | 3305983 Sudden Debt
Sudden Debt's picture

APOCALYPSE NOW BITCHEZ!!!

Wed, 03/06/2013 - 15:58 | 3305815 Gamma735
Gamma735's picture

Holder is a liar.  Let him rot in hell.

Wed, 03/06/2013 - 16:02 | 3305816 Mercury
Mercury's picture

But I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them...

Ummm...not on anti-trust grounds it isn't.

Wed, 03/06/2013 - 15:58 | 3305817 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Source of said comments?

Wed, 03/06/2013 - 16:27 | 3305941 chunga
chunga's picture

Holder was lip-flapping at Senate Judiciary Committee.

Bloomberg has a write-up on it now but fuck them too.

Wed, 03/06/2013 - 16:31 | 3305959 PaJoad
PaJoad's picture

You ask for a link or a source of said comments and get down voted...wow.

Wed, 03/06/2013 - 16:35 | 3305966 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

I know it most certainly is a fair an ideologically neutral question to ask but it is a tough crowd here.

Wed, 03/06/2013 - 16:48 | 3306027 Kayman
Kayman's picture

Good question.

Wed, 03/06/2013 - 16:53 | 3306041 chunga
chunga's picture

Bloomberg - By Phil Mattingly - Mar 6, 2013 2:19 PM ET

Too-Big-to-Fail Banks Limit Prosecutor Options, Holder Says

Wed, 03/06/2013 - 17:55 | 3306293 mumcard
mumcard's picture

I think it's more of a "do your own fucking digging" down vote and not a question everything downvote.

Wed, 03/06/2013 - 18:28 | 3306414 Panafrican Funk...
Panafrican Funktron Robot's picture

There's a general distaste for incredibly fucking lazy humans that can't spend 2 seconds completing a web search.  Mental laziness is what got us to this point.

Wed, 03/06/2013 - 17:04 | 3305819 Northeaster
Northeaster's picture

Big deal. The "new normal" and Americans will continue with the status quo, which is nothing.

Wed, 03/06/2013 - 15:59 | 3305821 Trucker Glock
Trucker Glock's picture

 

GRASSLEY: I'm concerned that we have a mentality of too-big-to-jail in the financial sector

 

HOLDER: That's why Jamie Dimon is richer than you.

Wed, 03/06/2013 - 15:59 | 3305822 Yen Cross
Yen Cross's picture

    Just drone> em Holder.(along with yourself)!

Everytime you open your mouth it reminds me of a giant flagelating asshole.

Wed, 03/06/2013 - 15:59 | 3305824 Longtermnotreally
Longtermnotreally's picture

"Wer'e all equal, but some are more equal than others" call it communism, fascism, whatever you like, but a few are having good laugh at the expense of all the rest

Wed, 03/06/2013 - 16:00 | 3305825 Joebloinvestor
Joebloinvestor's picture

He applies that same logic to cartels.

Wed, 03/06/2013 - 16:00 | 3305826 Xibalba
Xibalba's picture

Joos win again!

Wed, 03/06/2013 - 16:00 | 3305828 ziggy59
ziggy59's picture

Monopoly 2013 Bankster Edition: New Community Chest Card, "Stay Out Of Jail Forever"

Wed, 03/06/2013 - 16:00 | 3305829 Shizzmoney
Shizzmoney's picture

"Wahhhhh.  Wahhhhhhh"

I mean, the WHOLE fucking point of being a prosecutor is to show some balls and get the bad guys. 

At some point, when do the Ivy League morons in the DOJ understand that if they can't do the work of jailing and punishing these thieves in these high rises, that the next time a crash happens and people lose everything, someone else WILL DO IT FOR THEM?

I see Frank Castle's (The Punisher) point now:

During Don Daley's run on The Punisher title, his version of justice was described by the editor as "an eye for an eye."[18]

Wed, 03/06/2013 - 16:19 | 3305919 Winston Churchill
Winston Churchill's picture

Just which partner at Covington do you think wrote that learned

Opinion on the MERS construct ?

The TBTJ banks have the goods on bagHolder,they go to jail

so does he..

Wed, 03/06/2013 - 16:00 | 3305830 fonzannoon
fonzannoon's picture

Holder etc. are finally starting to just say the truth now that they realize no one is going to do anything about it anyway.

Wed, 03/06/2013 - 16:22 | 3305928 resurger
resurger's picture

+1

the noose is getting tighter

Wed, 03/06/2013 - 17:58 | 3306301 mumcard
mumcard's picture

I got 2700 light tanks bitchez, the fuck you gonna do?

Wed, 03/06/2013 - 16:00 | 3305831 yogibear
yogibear's picture

Eric Place Holder has personal business to take care of which is more important.  Too much work.

He's just hold his office to collect a check.

Too big to jail so do anything you want.

 

Wed, 03/06/2013 - 16:00 | 3305833 css1971
css1971's picture

Don't prosecute institutions. Prosecute individuals.

 

...

 

 

WTF? Can you prosecute a chair or table?

Wed, 03/06/2013 - 16:37 | 3305980 adr
adr's picture

Wait, that's a good idea.

I'm innocent your honor.

But 100 people saw you tie a noose around the bankers neck and kick the table out from under him.

I DIDN'T kill him, the NOOSE did. Because I am not the thing that directly caused his death, I can not be held responsible for it. By the way, I fired a gun at a few other CEOs as well. You can't prosecute me for those crimes either. It is not my fault they walked in front of the bullets. I'm sure the bullets are still in them. You can dig them out and put them on the stand. Considering the evidence, I'd say those bullets are guilty.

Wed, 03/06/2013 - 16:01 | 3305834 DoctorSahn
DoctorSahn's picture

Can we get a copy of his job description?  Maybe they left out the standard '5% other duties as assigned' (like prosecuting criminal behavior)

 

Maybe his job description had it removed or else he would have had to prosecute himself for his crimes?

Wed, 03/06/2013 - 16:02 | 3305836 Fix-ItSilly
Fix-ItSilly's picture

If Holder believes what he stated, then he is obligated to bring anti-trust cases forth.  Nobody is bigger than a healthy democratic Govt.  His inaction indicates his involvement in a conspiracy to defraud the American people of their rights and his avoidance of responsibility.

Wed, 03/06/2013 - 16:02 | 3305837 flacorps
flacorps's picture

The oath of office should determine whether you prosecute or not.

Failure to prosecute the criminals only means that the negative effect the criminals are already having on the economy will continue.

The argument that the economy will be harmed by prosecuting is like saying the neighborhood won't get Thanksgiving turkeys from the drug dealer if he's put in jail.

Wed, 03/06/2013 - 16:03 | 3305839 madcows
madcows's picture

Some Blank Panthers are beyond prosecution, b/c they're my peeps.

Some government gun runners are beyond prosecution b/c they serve the cause.

Some tyrants are beyond prosecution, b/c they are the fascist messiah.

Maybe we'll get lucky and a illegal alien mexican drug runner will shoot him with one of those illegally provided guns.

Wed, 03/06/2013 - 16:03 | 3305840 Ban KKiller
Ban KKiller's picture

Blue Oyster Cult. "Career of Evil". Theme song of our "government". Helpless stooges protecting us? No, aiding and abetting criminals. Plain as day...

Wed, 03/06/2013 - 16:04 | 3305847 ziggy59
ziggy59's picture

Holders Banker Motto: " Never Prosecute Those You Prostitute"

Wed, 03/06/2013 - 16:05 | 3305850 resurger
resurger's picture

Too Big To D E L E V E R A G E

 

Wed, 03/06/2013 - 16:05 | 3305852 DblAjent
DblAjent's picture

TBTF

Too Big to Fuhggedaboutit

Wed, 03/06/2013 - 16:05 | 3305853 toms
toms's picture

FUCK YOU HOLDER...if you can't or won't do your job GET THE FUCK OUT!!! I am sick to death of all this bullshit going on (Corzine bs etc) WE desperatly need to clean house of all these clowns...time for real CHANGE...we are running out of time...WE NEED TO TAKE OUR COUNTRY BACK from these corrupt sociopaths!!

Wed, 03/06/2013 - 16:35 | 3305970 optimator
optimator's picture

Dr. Ron Paul could do the job, and he's available...

Wed, 03/06/2013 - 16:08 | 3305856 Uber Vandal
Uber Vandal's picture

My grandmother lost her entire life's savings of $1,000 when the bank she had her money at failed during the prior Depression.

She went there to pull her money out, and they told her to come back tomorrow, and they would have her money ready for her.

The next day, the bank was closed, her money was gone.

She told me NEVER. TRUST. THE. BANKS.

I am thankful I listened to her stories.

It is unfortunate that too many people are lulled to sleep by that nifty FDIC logo, and they may end up just like her and many others of that time.

 

Wed, 03/06/2013 - 16:06 | 3305857 Meat Hammer
Meat Hammer's picture

He knows he'll be wearing cement shoes and be sent on a precious-metals expedition at the bottom of the Potomac if he tries to prosecute the puppet masters.

Wed, 03/06/2013 - 16:10 | 3305859 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Color me ignorant but maybe just maybe

"...the size of some of these institutions becomes so large..."

is the problem asshole. At least when you decide to use drones on US citizens they are too big of targets to be missed...........

 

There are things called anti-trust laws Ball Holder, maybe you should be enforcing them.

 

Wed, 03/06/2013 - 16:17 | 3305909 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

There are ways to do your fucking job and enforce anti-trust laws where the dismantling of TBTF can be done in an ORDERLY and CONTROLLED fashion to limit "negative impact" that you are so concerned about Ball Holder.

Wed, 03/06/2013 - 16:12 | 3305863 SillySalesmanQu...
SillySalesmanQuestion's picture

Dear Eric, last time I looked, I thought DOJ stood for Department Of Justice,not the Department of Obama and Jamie...Please get their dicks out of your mouth long enough so you won't stutter and stammer so much when talking about TBTF and justice.

P.S. WABOB (What a bunch of bullshit) for the brain impaired Eric...ESAD.

Wed, 03/06/2013 - 16:07 | 3305865 Killer the Buzzard
Killer the Buzzard's picture

MAKING ERIC HOLDER LOOK BAD IS RAYCISSSSS!

Wed, 03/06/2013 - 16:44 | 3306010 Kaiser Sousa
Kaiser Sousa's picture

Fuck Eric Holder... black uncle tom ass, dick and harry ball licking banker ownded bitch ass mother fucker....

 

 

disclaimer: im black, proud, and i said it.......... 

Wed, 03/06/2013 - 16:07 | 3305866 youngman
youngman's picture

He pretty much opened up the jails doors with that statement....go do whatever you want now....we are not going to do anything to you...pretty much an open book....great for a democracy....lol..what a joke we have become....

Wed, 03/06/2013 - 16:08 | 3305868 vegas
vegas's picture

Jon Corzine was unavailable for comment

Wed, 03/06/2013 - 16:08 | 3305871 Tinky
Tinky's picture

Ummm...didn't someone just lose their job for saying the same thing on 60 minutes?

 

Wed, 03/06/2013 - 16:16 | 3305900 waterhorse
waterhorse's picture

I was surprised that one Covington & Burling alumni would turn on another - what happened to the fraternity buddy system?

Wed, 03/06/2013 - 16:20 | 3305875 Floodmaster
Floodmaster's picture

In 1999, Democrats led by President Bill Clinton and Republicans led by Sen. Phil Gramm joined forces to repeal Glass-Steagall,-> You gave them what they want and you take the benefit of the deal.

Wed, 03/06/2013 - 16:11 | 3305882 tradewithdave
tradewithdave's picture

It's called the "Ripple effect", (burp)... Pass the bottle.

www.tradewithdave.com

Wed, 03/06/2013 - 16:17 | 3305886 Taint Boil
Taint Boil's picture

 

 

 

....just as the proletariat assumed.... 

Didn't know what that meant so I had to Google it (I must be one) what a perfect sentence, bout sums it up. 

 

Wed, 03/06/2013 - 18:06 | 3306335 mumcard
mumcard's picture

If there is hope, it lies in the proles...

Wed, 03/06/2013 - 16:13 | 3305889 caimen garou
caimen garou's picture

and some in the justice department think they are above the law, oh wait a minute they are above the law like john corzine! I guess if you steal from and kill  the american people it's ok right eric von ziffle! 

Wed, 03/06/2013 - 16:13 | 3305891 Lord Of Finance
Lord Of Finance's picture

So basically Eric Houlder just gave the big banks a get out of jail free card for being large.

He thus signalled to other smaller banks what it is they need to do to avoid his injustice center.

 

He has thus given an green light for more M&A activity to monopolize certain markets so they can become too big to jail. 

 

And you useful idiot liberals can not see what is that you are and you can not see that it is your own fellow liberals that continually create the majority of moral hazard in the capitalist markets, which is what causes the markets to fail, then like the blind mice you are, you then blame the car for being driven over the cliff.

Wed, 03/06/2013 - 16:15 | 3305895 waterhorse
waterhorse's picture

Right on, until the last paragraph when you got stupid.

Wed, 03/06/2013 - 17:23 | 3305939 Lord Of Finance
Lord Of Finance's picture

The last paragraph contains more factual truth then the first two. There has been more written about the moral hazard of the liberal creation, then of the big bank phenomenon. I believe ignorant comments are what is truely stupid. 

 

Read Nial Ferguson.Read 'Lords of Finance'. Read 'Secrets of the Temple' .Read Milton Friedman.  Read Friederick Hayec. Read peter schiffs books which take objective stabs at both sides, (Republican and Democrat),but the verdict of how the left creates moral hazard is clear. There is a whole lot more to read about the subject. And I sighted only 7 decades worth of Authors and literature. 

 

Dont get me wrong here. The republicans have indeed created their own moral hazard, but those came at the hands of neo-conservatives, who adopt the liberal neo-keynesian belief that, according to Dick Cheney,"DEFICITS DONT MATTER".

   So these false fiscal conservatives were liberal in their fiscal policy, but make no mistake about it. It was the socialist left that aggresively pushed for "everyone's right to own a home", and they slandered fiscal conservatives who objected by calling them racist, claiming,"whoever objects to our homeownership policy is discriminating against poor people". Then you have the 'Rubinites' in the Clinton administration getting Bill to sign away Glass- Steagal, and damm. Look what you started. 

 

 

I always make sure I know what I am talking about before I respond to a post, I suggest others do the same, most especially when they respond to someone who makes their living in the subject of history!

 

 

And if you disagree, then lets have it out. It is fight club. We use our minds instead of our fists here. But I know whata comin'. I will get junked with no intelligent and factual response, if a response at all.

Wed, 03/06/2013 - 18:19 | 3306381 RallyRoundTheFamily
RallyRoundTheFamily's picture

Your just another dumbass falling for the same divide and conquer tactics.

Wed, 03/06/2013 - 18:30 | 3306400 Lord Of Finance
Lord Of Finance's picture

As I said at my conclusion. I will not get an intelligent factual response. Your the dimwit who has proven my point!

 

Why don't you recite some 'rage against the machine' lyrics and occupy wall street and let the thinkers and truth seekers actually do something to identify the problem and really do something about it, besides a sit in.

Wed, 03/06/2013 - 16:14 | 3305892 waterhorse
waterhorse's picture

Just a SHITTY excuse not to prosecute Too-Kleptocratic-To-Indict.  But then again, what does one expect from an Attorney General whose prior firm specializes in white collar criminal defense?

Wed, 03/06/2013 - 16:14 | 3305893 Critical Path
Critical Path's picture

Corrupt and rotten to the core.  Just need a decent storm to come through and blow this tree over.  Maybe out of the dead remains and rot something better may arise, we can only hope.

Wed, 03/06/2013 - 16:17 | 3305903 Bunga Bunga
Bunga Bunga's picture

The tunnel has a reason.

Wed, 03/06/2013 - 16:18 | 3305912 tuttisaluti
tuttisaluti's picture

You don't have to prosecute the banks, just put the responsible CEO's and Managers in Jail for a couple of decades.

Wed, 03/06/2013 - 16:18 | 3305914 Hannibal
Hannibal's picture

Fuck you Holder.

Wed, 03/06/2013 - 16:41 | 3305922 earleflorida
earleflorida's picture

bush #43 had gon[zoe]zales, and #44 has hold[urchin]er... two polarizing figurines in the anal's`tarpit of freedom's... asap fait`accompli annihilation!

an abstract byzantin'e thingy? passing from east to west every millenium or`e sewn upon a lip`stich?

Wed, 03/06/2013 - 16:22 | 3305927 buzzsaw99
buzzsaw99's picture

In the heat of a summer night

In the land of the dollar bill

When the town of Chicago died

And they talk about it still

When a man named Al Capone

Tried to make that town his own

And he called his gang to war

Against the forces of the law

I heard my momma cry

I heard her pray the night Chicago died

Brother, what a night it really was

Brother, what a fight it really was...

Wed, 03/06/2013 - 16:23 | 3305931 TrustWho
TrustWho's picture

Lady Justice...."Holy Shit, cowards have hijaked my justice system"

Justice is for the poor as the rich have a "Get out of Jail Free" card.

Wed, 03/06/2013 - 19:00 | 3306549 flacorps
flacorps's picture

Justice for the rich is whatever happens to them when the poor get their hands on them.

Wed, 03/06/2013 - 16:24 | 3305933 Catullus
Catullus's picture

For as much as these people have been spying on people, reading their emails, warrentlessly wiretapping, going through our web cookies and bank accounts , they couldn't bring a single case against anyone?

The regulatory state is a COMPLETE failure. For those of you liberals who keep putting your faith in government, you have no leg to stand on. It's not about getting rid of a few bad apples or "fighting corruption". The entire thing has been and always will be rotten to the core. And in the end, because the laws are apparently unenfarseable, you just create the two tier system of social justice a lot of you claim exists under free market capitalism. The same free market capitalism that was very willing and able to put these banks out of business swiftly.

But thank god the President is black. He'll be the first billionaire former black president within a year of getting out of office. And you get to enjoy him for another 20 years lecture you about how great he was.

Wed, 03/06/2013 - 16:24 | 3305935 snakeboat
snakeboat's picture

Fuck you Holder!

Wed, 03/06/2013 - 16:24 | 3305936 falak pema
falak pema's picture

Hold me back before I do something violent to these TBTF shills...Holderrrrr.... lol, more like Hopeless!

Wed, 03/06/2013 - 16:27 | 3305942 yogibear
yogibear's picture

Just confirms the US is a Banana Republic.

 

Wed, 03/06/2013 - 16:28 | 3305945 FubarNation
FubarNation's picture

When the CEO's  and their cohorts start going to jail or start having mysterous accidents watch the bankers clean up their shit pronto.

 

That is the only solution to this.  Otherwise they won't give a fuck and be laughing all the way to Easy Street.

 

F Holder.

Wed, 03/06/2013 - 16:28 | 3305948 Decimus Lunius ...
Decimus Lunius Luvenalis's picture

Hard to prosecute a bank, but it's easier than hell to assassinate a citizen that bitches about the bank....

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