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

By: Tuesday July 1, 2014 11:26 am

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 [...]

Rating Agencies Exposed For Helping To Create 2008 Financial Crisis

By: Monday June 24, 2013 8:13 am

Visit for breaking news, world news, and news about the economy 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 [...]

The Fraudclosure Settlement Is Even Worse Than You Think It Is

By: Thursday April 11, 2013 8:43 am

Visit for breaking news, world news, and news about the economy 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 [...]

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

By: Thursday March 28, 2013 10:01 am

(Video satire based on the Frontline Special) 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 [...]

Attorney General Holder Says Banks Are Too Big To Prosecute

By: Friday March 8, 2013 6:20 am

In the same hearing where he publicly endorsed the Aaron Swartz prosecution, Attorney General Eric Holder admitted that the reason he has not done his job the last five or so years is because he can’t. Here’s an unexpected addition to the long list of people who say large banks may be too large to [...]

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

By: Friday February 22, 2013 10:42 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 [...]

Department of Justice Attacks Frontline As Lanny Breuer Resigns

By: Thursday January 24, 2013 5:31 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 [...]

Frontline Exposes DOJ’s Failure To Prosecute Wall Street

By: Wednesday January 23, 2013 5:55 am

Watch Alarm Bells In The Housing Market on PBS. See more from FRONTLINE. Last night Frontline aired a program on the Department of Justice’s failure to prosecute Wall Street executives over fraud in the mortgage market that caused the 2008 financial crisis. The program included compelling testimony from the “due diligence underwriters” those responsible for [...]

Criminal Deterrence: To Lanny Breuer, It Means Pretending to Investigate

By: Friday February 10, 2012 9:20 am

I was just on KPFK in Los Angeles with RJ Eskow, and we have fairly similar ideas about the foreclosure fraud settlement, even though they may sound different. He thinks that we need to use the pressure available to ensure that the settlement is a beginning and not an ending. I’m just trying to be [...]

FCIC Referred Criminal Securities Fraud Violations to Justice Department a Year Ago

By: Monday January 30, 2012 11:39 am

A statement sent my way from Phil Angelides, the chairman of the Financial Crisis Inquiry Commission, plays into this debate over the RMBS working group in some interesting ways. The crux of the matter is that Douglas Holtz-Eakin, a Republican commissioner on the FCIC who did not sign onto the final report, made some statement [...]

Schneiderman’s RMBS Working Group: Resources, Jurisdiction and Will

By: Saturday January 28, 2012 8:50 am

Visit for breaking news, world news, and news about the economy Eric Schneiderman, co-chair of the newly titled “RMBS working group” investigating financial fraud, appeared on the Rachel Maddow Show last night (the interview starts around the 5:00 mark), and there were a few interesting moments. First you have his assessment of the the [...]

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