Report: Cronyism, Political Donations Behind Holder's Failure To Charge Bankers...

Discussion in 'Politics' started by paulitician, Aug 7, 2012.

  1. paulitician
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    paulitician Platinum Member Supporting Member

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    A new report from the Government Accountability Institute (GAI) finds that President Barack Obama’s and Attorney General Eric Holder’s failure to criminally charge any top Wall Street bankers is likely a result of cronyism inside the Department of Justice and political donations made to Obama’s campaign.

    Despite Obama’s and Holder’s “heated rhetoric” against Wall Street (in 2009, Obama blamed the 2008 financial collapse on “reckless speculation of bankers” while Holder charged that “unscrupulous executives, Ponzi scheme operators and common criminals alike have targeted the pocketbooks and retirement accounts of middle class Americans”), they haven’t “filed a single criminal charge against any top executive of an elite financial institution,” GAI wrote in its report...

    GAI argues that the Obama administration’s decision to not go after Big Finance is due to senior DOJ leadership — Holder, Associate Attorney General Tom Perrelli, Associate Attorney General Tony West, Assistant Attorney General Lanny Breuer, Deputy Attorney General James Cole and Deputy Associate Attorney General Karol Mason — who “all came to the DOJ from prestigious white-collar defense firms where they represented the very financial institutions the DOJ is supposed to investigate.”

    The report details how Holder and Breuer both came to the DOJ from Covington & Burling, a “top-tier Washington law firm” with a client list that includes financial firms like Wells Fargo, J.P. Morgan Chase, Bank of America, CitiBank, Deutsche Bank, Goldman Sachs, ING, Morgan Stanley, UBS and Wilmington Trust.

    GAI said that President Obama’s decision to choose Holder, “a white-collar defense attorney from Covington,” as his attorney general, over a “more fiery prosecutor,” appears to have sent “a subtle signal to the financial community” that this administration isn’t going to actually do anything, despite the harsh words.

    Cole, the report outlines, was with Bryan Cave LLP — “a white-shoe firm with A-list clients” — before becoming Holder’s right-hand man at the DOJ. One of Cole’s clients while at Bryan Cave LLP, the GAI report shows, was insurance and financial giant AIG.

    Cole had done $20 million worth of work for AIG between 2004 and 2008, but his close ties with the company — which was “at the heart of the financial crisis largely because of its noncompliance in regulatory and compliance issues” — didn’t stop Obama or Holder from welcoming him aboard their administration...

    Read more: Report: Cronyism behind Holder's failure to charge bankers | The Daily Caller
     
  2. Truthmatters
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    Truthmatters BANNED

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    that is a right wing hack site
     
  3. paulitician
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    paulitician Platinum Member Supporting Member

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    Still, no prosecutions. And Cronyism is the reason.
     
  4. waltky
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    waltky Wise ol' monkey Supporting Member

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    Yea, he's the same numbnuts who was in the back pocket of Wall Street on PBS Frontline who didn't bring any prosecutions for the financial meltdown - what a putz...
    :eusa_eh:
    'Fast and Furious' Figure Accused of Misleading Congress Is Departing Justice Dept.
    January 30, 2013 - The Justice Department announced Wednesday that Assistant Attorney General Lanny A. Breuer, head of the criminal division, "will leave the department on March 1, 2013." The decision may not have been his choice.
     
  5. Seawytch
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    Seawytch Information isnt Advocacy

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    Can't bite the hand that feeds you.

    Public financing of elections...
     

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