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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums"The Big Banks Had A Secret Agent In The Government"
Twitter Lee Camp
Twitter Redacted Tonight
"The Big Banks Had A Secret Agent In The Government"
"Then when Holder was done giving handies to Wall Street. .."
Just love Lee Camp!
Electric Monk
(13,869 posts)Here's a man who just spent six years handing out soft-touch settlements to practically every Too Big to Fail bank in the world. Now he returns to a firm that represents many of those same companies: Morgan Stanley, Wells Fargo, Chase, Bank of America and Citigroup, to name a few.
Collectively, the decisions he made while in office saved those firms a sum that is impossible to calculate with exactitude. But even going by the massive rises in share price observed after he handed out these deals, his service was certainly worth many billions of dollars to Wall Street.
Now he will presumably collect assloads of money from those very same bankers. It's one of the biggest quid pro quo deals in the history of government service. Congressman Billy Tauzin once took a $2 million-a-year job lobbying for the pharmaceutical industry just a few weeks after helping to pass the revolting Prescription Drug Benefit Bill, but what Holder just did makes Tauzin look like a guy who once took a couple of Redskins tickets.
In this light, telling reporters that you're going back to Covington & Burling to be "engaged in the civic life of this country" seems like a joke for us all to suck on, like announcing that he's going back to get a doctorate at the University of Blow Me.
more
http://www.rollingstone.com/politics/news/eric-holder-wall-street-double-agent-comes-in-from-the-cold-20150708
marym625
(17,997 posts)I read the National Law Review article the other day but missed this. Thanks!
Love Lee Camp! He's dead on and hilarious!
orpupilofnature57
(15,472 posts)marym625
(17,997 posts)And more than Geithner.
No matter what happens with the banks, I'm sure Larry Summers is somewhere in the picture too
hifiguy
(33,688 posts)Walking, gangrenous pusbag Larry Summers, an embarrassment to slime mold, hyenas and vultures everywhere, was very much a part of the picture.
marym625
(17,997 posts)And authored the End Game Memo. He basically orchestrated the world economy collapsing
Should be doing time instead of being submitted for cabinet posts and advising Presidential candidate
hifiguy
(33,688 posts)to be spared the fate of Mussolini or Ceaucescu, which is what he more than deserves.
marym625
(17,997 posts)orpupilofnature57
(15,472 posts)reasoning when we vote for the person who will hire the people who will RUN our lives .
marym625
(17,997 posts)We just don't always receive an answer. And if we do, it's not always the truth.
But yes, extremely important question
SusanCalvin
(6,592 posts)nationalize the fed
(2,169 posts)Yet could also double for the Joker. 2 clowns for the price of a bailout.
...Geithner's position included a large role in directing the Federal Government's spending on the crisis, including allocation of $350 billion of funds from the Troubled Asset Relief Program enacted during the previous administration...
Early career
...Geithner worked for Kissinger Associates in Washington for three years and then joined the International Affairs division of the U.S. Treasury Department in 1988...
...He was Under Secretary of the Treasury for International Affairs (19982001) under Treasury Secretaries Robert Rubin and Lawrence Summers. Summers was his mentor,(18,19) but other sources call him a Rubin protégé...
https://en.wikipedia.org/wiki/Timothy_Geithner
"My policies are republican from the 1980's" - President Obama
Kurovski
(34,655 posts)K&R
think
(11,641 posts)marym625
(17,997 posts)The half hour long one.
He's going to be in Los Angeles on the 25th
think
(11,641 posts)marym625
(17,997 posts)So if you twitter, I put the links in the OP.
hobbit709
(41,694 posts)But it's still a funny piece. Funny piece about some really fucked up, scary stuff
hifiguy
(33,688 posts)10,000 Irishmen marching down Main Street with the mayor and a pipe band at their head on St Patrick's day.
mmonk
(52,589 posts)marym625
(17,997 posts)Since I tweeted this and he favorited it
Hotler
(11,425 posts)"Now is not the time to point fingers"?
marym625
(17,997 posts)I remember how he "supported" the Occupy movement, before he was elected too.
SusanCalvin
(6,592 posts)Disclaimer: Yes, he beats an R. Yes, he's done some good stuff. Corporate nonetheless, as are the majority.
Octafish
(55,745 posts)Former financial regulator Bill Black says Holder's legacy on "too big to fail" is "too big to jail"
The Real News - October 3, 14, 2014
EXCERPT...
PERIES: So what raced through your mind as you heard the news this morning about Eric Holder's resignation?
BLACK: Well, I'll focus on the areas I know about. And in your introduction, the war on whistleblowers will be the most relevant part, along, of course, with the complete strategic failure, the greatest strategic failure in the history of the Department of Justice, which I once worked at, against elite white-collar crime epidemics.
And so Eric Holder has surprised me. I always predicted that he would at least find one token case to prosecute some bank senior executive for crimes that led to the creation of the financial crisis and the global Great Recession.
PERIES: Why did it surprise you, Bill?
BLACK: Well, he's actually going to leave without even a token conviction, or even a token effort at convicting. So, in baseball terms, he struck out every time, batting 0.000, but he actually never took a swing. So he was called out on strikes looking, as we would say in baseball. And I couldn't believe that he would leave without at least having one attempted prosecution against these folks. So he hasn't done the most--he never did the most elementary things required to succeed. He never reestablished the criminal referral process, which is from the banking regulatory agencies, who are the only ones who are going to do widescale criminal referrals against bank CEOs, because, of course, banks won't make criminal referrals against their own CEOs. Holder could have reestablished that criminal referral process in a single email on the first day in office to his counterparts in the banking regulatory agencies, and he's going to leave never having attempted to do so.
On top of that, if you're not going to have criminal referrals from the agencies, the only other conceivable way that you're going to learn about elite criminal misconduct of this kind is through whistleblowers. And as you mentioned, this administration, and Eric Holder in particular, are known for the viciousness of their war against whistleblowers. What the public doesn't know--and it doesn't know because of Eric Holder--is that in the three biggest cases involving banks--again, none of them, not a single prosecution of the elite bankers that drove this crisis--all three of those cases, against Citicorp, against JPMorgan, and against Bank of America, were made possible by whistleblowers. Eric Holder was the czar at the Department of Justice press conferences in each of these three cases, and he and the Justice Department officials, the senior Justice Department officials, at those press conferences, never mentioned the role of the whistleblowers--never praised the whistleblowers and never used those press conferences as a forum for asking whistleblowers to come forward. And so your viewers should take a look at the Frontline special on this, where the Frontline producers made clear that as soon as word got out that they were investigating the area, dozens of whistleblowers came forward, and each of them had the same story: the Department of Justice had never contacted them.
So, instead of going after the big guys--by the way, they didn't go after the small CEOs either. I keep talking about elite CEOs, for obvious reasons: they cause far greater damage. But there are all these CEOs of the not very big mortgage banks who are not prestigious, who are not politically powerful, and Eric Holder refused to prosecute them as well. What did he do instead? Well, he prosecuted several hundred mice. And so the saying in the savings and loan industry is true again: Holder was chasing mice while lions roam the campsite.
And most disgraceful of all, the official position of the Justice Department and the FBI, as I've written and quoted from their annual reports on mortgage fraud, is that mortgage fraud is largely supposedly an ethnic crime, with particular disfavored ethnic groups, like Russian Americans. This is (A) not true and (B) an obscenity, for the Department of Justice in particular, which is, after all, charged with preventing this kind of discrimination. Not only is the Justice Department and the FBI spreading this absolute lie about ethnic guilt, but they're following through, and they are disproportionately prosecuting folks of disfavored minorities. And that is a particular evil and disgusting thing that will be on the tombstone of Eric Holder when historians write about him.
CONTINUED...
http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=12433
marym625
(17,997 posts)This should be an OP! This is good stuff!
Thanks for posting this. Really should make it an OP
Octafish
(55,745 posts)Thank you for the kind suggestion:
http://www.democraticunderground.com/10026976393
I know several families who lost their homes to the Banksters...
mmonk
(52,589 posts)Thanks for that.
SusanCalvin
(6,592 posts)hifiguy
(33,688 posts)corrupt as possible during his time as AG, short of having his banker buddies actually backing up the dump trucks full of cash to his office.
Enthusiast
(50,983 posts)Thespian2
(2,741 posts)Thanks, Lee Camp...
Of course, Holder doesn't give a rat's ass about how any of us "little" people feel...We can eat briars and drink ditch water...As he suckles himself on champagne, Holder wants to make sure that he never has to worry about any damn thing...
840high
(17,196 posts)SusanCalvin
(6,592 posts)I want it to be because there's a reasonable safety net, not because I'm a whore for Wall Street.
Excuse my uncustomary language, but this kind of stuff makes me really angry.
Thespian2
(2,741 posts)We use such language when we are at the end of the rope and have already tied the knot...
marym625
(17,997 posts)Funny how some people see him as the "most effective" in a long time. I see so much stuff that should have been done that wasn't. Not saying he sat in office twiddling his thumbs. But torture, war crimes and the banks a.k.a. world economy collapse, were pretty fucking important and nothing was done. And let's not forget all the racism found in courts and police departments and NOTHING has been done about it. Nada. Sorry, firing a clerk and a couple cops is nothing.
JDPriestly
(57,936 posts)marym625
(17,997 posts)George II
(67,782 posts)SusanCalvin
(6,592 posts)Sad, sad, that the current state of affairs is considered good. It's just better than the *complete* crazies/corporate shills.
Indydem
(2,642 posts)Eric Holder had other, more important things to worry about, and rightfully so.
His work on race issues and equality will be his legacy.
WDIM
(1,662 posts)HooptieWagon
(17,064 posts)Octafish
(55,745 posts)The people who lied America into war walk free while Don Siegelman was returned to an extended stay in prison.
Oilwellian
(12,647 posts)I had always thought our judiciary branch would protect us. We see it sometimes, but overall, it's become a mockery.
Enthusiast
(50,983 posts)marym625
(17,997 posts)whereisjustice
(2,941 posts)we pay dearly for the slightest infraction at work or in the eyes of the law. Meanwhile, those with wealth and power have evaded justice.
The most cynical and government hostile population in US history is the end result.
Holder was the best thing Wall Street could have hoped for after their debauchery at our expense.
Enthusiast
(50,983 posts)marym625
(17,997 posts)Best thing for Cheney and dubya, too.
Enthusiast
(50,983 posts)marym625
(17,997 posts)I do wish everyone would watch it. At least it tries to make something horrible, laughable.
Scuba
(53,475 posts)marym625
(17,997 posts)I will never deny the good things he's done. But I won't deny the bad either. And I don't understand why anyone would. Never did, never will.
raouldukelives
(5,178 posts)marym625
(17,997 posts)like the title of Greg Palast's book, The Best Democracy Money Can Buy
Octafish
(55,745 posts)WDIM
(1,662 posts)It is no wonder the monolithic crime spree has gone ignored.
marym625
(17,997 posts)n/t
marym625
(17,997 posts)J_J_
(1,213 posts)(and... Go Bernie!
I just saw a gigantic homemade sign for Bernie Sanders on my way to town, It must have been 30 feet wide because it was visible 1/2 mile away)
That's great news!
KoKo
(84,711 posts)marym625
(17,997 posts)Can't wait to see redacted tonight Friday!
Betty Karlson
(7,231 posts)marym625
(17,997 posts)Autumn
(45,106 posts)had more than one.
marym625
(17,997 posts)And they're trying to put another in