January 24, 2013

Now Obama's Wall Street prosecutor can represent the folks he didn't prosecute

Masaccio, Firedog Lake - Lanny Breuer is out as head of the Criminal Division of the Department of Justice, according to the Washington Post. After his ratlike performance on Frontline it won’t be long before we find him at some creepy New York or DC law firm defending his best friends, the banks and their sleazy employees. His legacy is simple: too big to fail banks can’t possibly commit crimes, so minor civil fines and false promises of reform are punishment enough. Jamie Dimon couldn’t have put it better.

[Interviewer Martin] Smith says “You do have plaintiffs who will come forward and say that they relied on the reps and warranties, and they relied on the due diligence claims that were made by the bank.”

Breuer keeps talking, but he can’t worm out of this one. Smith then says:
    “We’ve spoken to people inside the Residential Mortgage-Backed Securities Working Group who said that when they began their work in January, February, March of 2012 that they found nothing at the Justice Department in the pipeline, no ongoing cases looking at securitization.”

1 comment:

Anonymous said...

Obama was shocked at the suggestion that the "Justice" department might not have vigorously prosecuted Wall Street criminals. Shocked, shocked, shocked! Then he appointed another Wall Streetb insider to head Treasury.