Forum Post: Is This Why They Won’t Prosecute? Top Justice Officials Represented Big Banks, Freddie, Fannie and Mers /// Obama’s Department of Justice Isn’t Prosecuting Any Big Fish
Posted 2 years ago on Jan. 21, 2012, 5:33 p.m. EST by MonetizingDiscontent
This content is user submitted and not an official statement
Obama’s Department of Justice Isn’t Prosecuting Any Big Fish.
Indeed, the Obama administration is prosecuting fewer financial crimes... http://www.washingtonsblog.com/2011/11/obama-prosecuting-fewer-financial-crimes-than-under-either-bush-presidency.html ...than Ronald Reagan, George W. Bush, George H.W. Bush or Bill Clinton.
This is true even though the big banks... http://www.washingtonsblog.com/2010/10/at-the-root-of-the-crisis-we-find-the-largest-financial-swindle-in-world-history-where-counterfeit-mortgages-were-laundered-by-the-banks.html – such as Bank of America, Citigroup, JP Morgan and Wells Fargo – committed some fraud, but their entire business model is fraudulent.
The same is true of Fannie, Freddie... http://www.washingtonsblog.com/2010/10/christopher-whalen-freddie-and-fannie-helped-to-create-epidemic-of-mortgage-fraud.html ...And even more so with Mers, where its entire purpose – from day one – was fraudulent.
So why haven’t the fraudsters running these chop shops been prosecuted by Attorney General Eric Holder, and the head of the DOJ’s criminal division Lanny Breuer?
Reuters helps explain why today:
Insight: Top Justice Officials Connected to Mortgage Banks
(((WACTH This Video to get a sense of Breuer))) http://www.cbsnews.com/video/watch/?id=7390540n
U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department’s criminal division were partners for years at a Washington law firm that represented a Who’s Who of big banks and other companies at the center of alleged foreclosure fraud, a Reuters inquiry shows.
The firm, Covington & Burling, is one of Washington’s biggest white shoe law firms. Law professors and other federal ethics experts said that federal conflict of interest rules required Holder and Breuer to recuse themselves from any Justice Department decisions relating to law firm clients they personally had done work for.
Both the Justice Department and Covington declined to say if either official had personally worked on matters for the big mortgage industry clients. Justice Department spokeswoman Tracy Schmaler said Holder and Breuer had complied fully with conflict of interest regulations, but she declined to say if they had recused themselves from any matters related to the former clients.
Reuters reported in December that under Holder and Breuer, the Justice Department hasn’t brought any criminal cases against big banks or other companies involved in mortgage servicing, even though copious evidence has surfaced of apparent criminal violations in foreclosure cases.
The evidence, including records from federal and state courts and local clerks’ offices around the country, shows widespread forgery, perjury, obstruction of justice, and illegal foreclosures on the homes of thousands of active-duty military personnel.
While Holder and Breuer were partners at Covington, the firm’s clients included the four largest U.S. banks – Bank of America, Citigroup, JP Morgan Chase and Wells Fargo & Co – as well as at least one other bank that is among the 10 largest mortgage servicers.
Covington represented Freddie Mac …. [and] MERS Corp …. Court records show that Covington, in the late 1990s, provided legal opinion letters needed to create MERS on behalf of Fannie Mae, Freddie Mac, Bank of America, JP Morgan Chase and several other large banks.blank Is This Why They Won’t Prosecute? Top Justice Officials Represented Big Banks, Freddie, Fannie and Mers
Covington in 2004 also wrote a --Crucial-- opinion letter commissioned by MERS, providing --Legal Justification-- for its electronic registry. MERS spokeswoman Karmela Lejarde declined to comment on Covington legal work done for MERS.
This isn’t as bad as Department of Justice lawyer John Yoo’s letter justifying torture... http://en.wikipedia.org/wiki/John_Yoo ...by the Bush Administration, but it’s arguably somewhat analogous, as it is a legal opinion trying to justify blatant illegality.
No wonder top financial crime expert Bill Black says that we have to fire Eric “Place” Holder... http://owsnews.org/the-virgin-crisis-systematically-ignoring-fraud-as-a-systemic-risk/ ...and all other government officials who are blocking prosecution of the criminals who caused the economic crisis.
Indeed, it makes one wonder whether the Department of Justice still dispenses justice … or has turned into a “protection racket” http://www.washingtonsblog.com/2011/03/the-justice-department-plays-fast-and-loose-with-the-law.html ...for the rich and powerful. http://www.washingtonsblog.com/2011/08/real-reason-sec-has-been-shredding.html
Of course, most of the rest of boys in D.C. are not much better. http://www.washingtonsblog.com/2011/06/well-theres-your-problem-right-there-insider-trading-rules-don%E2%80%99t-apply-to-congress.html
(((View this article Here))) http://www.zerohedge.com/contributed/why-they-won%E2%80%99t-prosecute-top-justice-officials-represented-big-banks-freddie-fannie-and-
William Black Describes Fraud and Liers Loans in the Economic Crisis Before the House Financial Services Committee
William Black Tells It How It Is in 2008... Four years later not one indictment.
BILL MOYERS JOURNAL - William K. Black -PBS-
The financial industry brought the economy to its knees, but how did they get away with it? With the nation wondering how to hold the bankers accountable, Bill Moyers sits down with Bill Black, the former senior regulator who cracked down on banks during the savings and loan crisis of the 1980s. Black offers his analysis of what went wrong and his critique of the bailout.
Bill Black: What if the SEC investigated Banks the way it is investigating Mutual Funds?
-December 28, 2011-
Bill Black @ #occupywallstreet on Arresting Banksters
Oct 28, 2011
William Black: Not With A Bang, But A Whimper: Bank Of America’s Derivatives Death Rattle
Former Financial Regulator William Black: Occupy Wall Street A Counter to White-Collar Fraud
(DemocracyNow!) Amy Goodman interviews William Black, a white-collar criminologist, former financial regulator, and author of "The Best Way to Rob a Bank is to Own One." Black teaches economics and law at the University of Missouri-Kansas City and recently took part in Occupy Kansas City.
William K. Black on MF Global and Jon Corzine Culpability
-'CapitalAccount'- speaks to William Black, a white-collar criminologist and former WallStreet regulator who during the Savings and Loan crisis oversaw more than 10,000 criminal referrals, 1,000 felony convictions, and where hundreds of bankers went to prison.
From Goldman Sachs to governor to grilling, Jon Corzine former CEO of the now bankrupt MF Global testifies on Capitol Hill. He claims he is clueless about how and where the possible $1.2 billion dollars of his client's money is that is missing. How has all of this happened three years after the financial crisis when Wall Street was supposed to be reined in? And the golden boys of Wall Street have their Goldman tentacles spread over the MF Global case. The head of the CFTC - MF Global's regulator - has recused himself from the MF Global probe because he worked with Jon Corzine at Goldman Sachs.