Eric Holder’s Legacy To Be Failing To Hold Wall Street Accountable

By: Tuesday July 1, 2014 2:25 pm

Attorney General Eric Holder, appointed in the beginning of Barack Obama’s presidency, is beginning to have his legacy evaluated and it is not looking good. A creature of Wall Street who helped represent some of the culprits of the mortgage crisis in private practice, Holder never made an honest or substantive efforts to go after his former clients who helped crash the economy in 2008.


Rating Agencies Exposed for Helping to Create 2008 Financial Crisis

By: Monday June 24, 2013 9:00 am

As Wall Street alumni Attorney General Eric Holder and Criminal Division head Lanny Breuer slept, private law firms took Wall Street to court. Through the lawsuits filed we have learned that the rating agencies, Moody’s and S&P, were well aware that what they were rating as extremely safe investments were in reality financial ticking time bombs. From Matt Taibbi:

The Fraudclosure Settlement Is Even Worse Than You Think It Is

By: Thursday April 11, 2013 9:25 am

Life, liberty, and property. These were in theory the founding principles of the republic. But as President Obama meets today with the the Big Banksters to plot his latest attacks on Social Security and Medicare, it seems property rights still only exist for roughly the same percentage they did in days of America under the British Empire, 1%. Or so one could reasonably deduce from the fraudclosure settlement.

After Sabotaging Wall Street Prosecutions Lanny Breuer Will Return From Whence He Came, Wall Street

By: Thursday March 28, 2013 11:10 am

What can you say about former Assistant Attorney General for the Criminal Division Lanny Breuer that has not been said about any mob lawyer?

Breuer is without a doubt a ruthless self-dealer who would do anything for money. But unlike Bruce Cutler, Breuer prostituted himself at the expense of the public interest. Mob lawyers may be sleazy but there is nothing nefarious about their institutional role – even gangsters are entitled to a defense. Breuer on the other hand worked within the system to undermine its ability to meet its most basic stated commitments – equal justice under the law. Under Breuer and Attorney General Eric Holder that fundamental commitment substantively became justice for some.

CFTC Chairman: LIBOR Still “Not Clean” Was Often “Completely Made Up”

By: Friday February 22, 2013 11:47 am

Gary Gensler, the head of the Commodities Future Trading Commission (CFTC), has made a pretty depressing admission to the BBC. During an interview on one of the greater financial scandals in modern times, the rigging of the London Interbank Offered Rate (LIBOR), Chairman Gensler submitted that the global benchmark for interest rates is still “not clean” and was often “completely made up.”

CIA Whistleblower John Kiriakou, Sentenced to 30 Months in Jail, Wears Conviction as ‘Badge of Honor’

By: Friday January 25, 2013 8:20 am

John Kiriakou, the former CIA agent who was the first to publicly acknowledge that torture was official US policy under the administration of President George W. Bush, has been sentenced to thirty months in jail. He was convicted in October of last year of violating the Intelligence Identities Protection Act (IIPA) when he provided the name of an officer involved in the CIA’s Rendition, Detention and Interrogation (RDI) program to a reporter.

Timothy Geithner Says Justice Is Nice but Banks Are Just the Best

By: Thursday January 24, 2013 11:31 am

Geithner is a perfect counterpart for the execrable Lanny Breuer: he provides the cover Breuer needed not to prosecute any Wall Street executives or their employers.

When Goldman Sachs Does It, It’s Not Illegal

By: Thursday January 24, 2013 7:42 am

Fun legal fact I learned yesterday: Apparently it’s perfectly okay to outright lie to your customers, as long as there’s some possibility that they’re so “sophisticated” that they know you’re lying.

Department of Justice Attacks Frontline As Lanny Breuer Resigns

By: Thursday January 24, 2013 5:52 am

Well that didn’t take long. Less than 24 hours after PBS aired Frontline’s The Untouchables, a program focused on the failures of the Department of Justice to make cases against Wall Street bankers despite ample evidence of fraud, the head of DOJ’s criminal division resigns. It’s hard to dismiss as a coincidence given that Lanny Breuer was rather clearly identified in the program – which he participated in – as the person unwilling to go forward with Wall Street prosecutions out of both a fear of losing the cases and some strange fixation on the possibility the firms engaging in criminal fraud might go out of business.

Lanny Breuer Identifies Real Clients on Frontline Then Quits

By: Wednesday January 23, 2013 5:08 pm

Good riddance. Now if only Eric Holder would follow his example. Mr. President? Any thoughts?

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