Friday, March 14, 2014

The Holder DOJ Has Been A Joke

The Cowardly Failure to Prosecute Bank Felons
The two lowlights of the Obama administration for this ardent supporter have been the economic team and DOJ.  Eric Holder has been an atrocious AG. Sure, anyone compares favorably to Alberto Gonzalez. By any other measure though … ugh.
One of the great "mysteries" of the post financial crisis era is why obvious criminality has not been prosecuted. We have been told it is more complex than it appears; that the securitization process has made determining exactly who was harmed complicated; that this complexity makes convincing a jury a crapshoot. All of these arguments fail to withstand even cursory scrutiny when it comes to foreclosure fraud. The Robo-signing, document fabrication and mass perjury were fish in a barrel for even a newbie prosecutor. Why did the government fail to go after the perpetrators of mass fraud?
More than 5 years on the job, and what has he accomplished?  No prosecutions for torture, no prosecutions for massive financial crimes . . . but plenty of whistleblower prosecutions.

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