Assistant Attorney General Admits On TV That In The US Justice Does Not Apply To The Banks

[Lucille]

These on-going banksta bailouts will go down in history as the greatest theft of the people's money, and the biggest scandal in the history of the republic. I don't know what it's going to take for the American people to finally run all these banksta-owned criminals out of town on a rail.

"Let justice be done though the heavens fall."

Assistant Attorney General Admits On TV That In The US Justice Does Not Apply To The Banks
http://www.zerohedge.com/news/2013-0...ot-apply-banks

Those who watched Frontline's special on why nobody has been prosecuted on Wall Street titled appropriately "The Untouchables" didn't learn much new. The rehash of ideas presented is what has been well known for years - namely that when it comes to prosecuting Wall Street criminals nothing will ever happen, because as Bill Gross tweeted " Its not Republican in politics. Its not Dem in politics. Its money in politics" and all the money in politics comes from Wall Street, which happens to be the ultimate ruler of the United States of America, pushing levers here and pulling stringer there to give the impression the constitutional republic is still alive. It isn't - this country has become an unchecked despotism of those in charge of money creation and who control capital - just the thing Andrew Jackson warned against. One thing we did learn, was courtesy of Assistant Attorney General Lenny Breuer who made it very clear that when it comes to the concept of justice the banks are and always have been "more equal" than others. He does so in such shocking clarity and enthusiasm that it is a miracle that this person is still employed by the US Department of Justice.

MARTIN SMITH: You gave a speech before the New York Bar Association. And in that speech, you made a reference to losing sleep at night, worrying about what a lawsuit might result in at a large financial institution.

LANNY BREUER: Right.

MARTIN SMITH: Is that really the job of a prosecutor, to worry about anything other than simply pursuing justice?

LANNY BREUER: Well, I think I am pursuing justice. And I think the entire responsibility of the department is to pursue justice. But in any given case, I think I and prosecutors around the country, being responsible, should speak to regulators, should speak to experts, because if I bring a case against institution A, and as a result of bringing that case, there’s some huge economic effect — if it creates a ripple effect so that suddenly, counterparties and other financial institutions or other companies that had nothing to do with this are affected badly — it’s a factor we need to know and understand.

In other words, no criminal charges can be levied against anyone who engaged in the crimes leading to the great financial crisis of 2008 because, get this, the implications of pursuing justice may have destabilizing implications!

In other words, the banker threat of Mutual Assured Destruction has metastasized from the legislative, where in 2008 Hank Paulson demanded a blank check from Congress to spend it on whatever he wishes, "or else...", and has fully taken over the Judicial, where there is Justice for all... and no "Justice" for those who are systemically important.

Ted Kaufman summarizes:

TED KAUFMAN: That was very disturbing to me, very disturbing. That was never raised at any time during any of our discussions. That is not the job of a prosecutor, to worry about the health of the banks, in my opinion. Job of the prosecutors is to prosecute criminal behavior. It’s not to lie awake at night and kind of decide the future of the banks.

Frontline episode and more at the link.

[Lucille]

It's broken up into parts in this thread:

http://www.zerohedge.com/contributed...een-prosecuted

Part 1: The Untouchables - “Fund ‘Em”
During the bubble, small mortgage industry players were prosecuted but why not Wall Street

Part 2: The Untouchables - Due Diligence?
Whistleblowers detail mortgage fraud witnessed before the housing meltdown.

Part 3: The Untouchables – Frustration in Washington
Lawmakers question executives and grow impatient with the pace of criminal investigations.

Part 4: The Untouchables – Why No Criminal Indictments
The Justice Department is doubtful it can prove that banksters acted with criminal intent.

Please! Only b/c the Just Us Department is being run by a coven of banksta-owned vampires like Lanny A. Breuer.

[Lucille]

LaNNY BReuER: CRoNY ToP GuN
http://www.zerohedge.com/contributed...-crony-top-gun

The Crony Top Gun is named Breuer
The DOJ's fraud case pursuer
The Kleptocrat's guy
Just turned a blind eye
And Justice is now in the sewer

The Limerick King

More of WB's awesome photoshop satire at the link.

[Lucille]

That didn't take long, not that it matters since another banksta-owned vampire will just take his place.

Assistant Attorney General Breuer Out Of DOJ In "Untouchables" Aftermath
http://www.zerohedge.com/news/2013-0...bles-aftermath

Earlier today, we reported that "Assistant Attorney General Admits On TV That In The US Justice Does Not Apply To The Banks" when we commented on last night's PBS special "The Untouchables." Explicitly, we said that it was "Lenny Breuer who made it very clear that when it comes to the concept of justice the banks are and always have been "more equal" than others. He does so in such shocking clarity and enthusiasm that it is a miracle that this person is still employed by the US Department of Justice." As of minutes ago that is no longer the case as his employment contract has been torn up. The WaPo reports, that Lanny A. Breuer is leaving the Justice Department "after leading the agency’s efforts to clamp down on public corruption and financial fraud at the nation’s largest banks, according to several people familiar with the matter....It is not clear when Breuer intends to leave, nor what he plans to do once he departs, but it is certain that the prosecutor’s days in office are winding down, according to people who were not authorized to speak publicly about the matter."
[...]
Brauer is not only known for being the bankers' lackey: his fingerprints are also all over Fast and Furious:
[...]
Either way, Brauer is gone.

And ironically it is his departure which confirms that everything that could be wrong at the US department of INjustice, is wrong.

Because, with all due respect to this banker muppet, he is merely the tiniest cog in a broken down judicial system, which works (and we obviously use the term loosely) in conjunction with the legislative and executive branches, as well as that implied fourth branch - the Federal Reserve - to further just one thing: the interests of the bankster overclass, who ever since the financial crisis have benefited to the tune of some $5 trillion, or the full amount of incurred debt that future generations of Americans will be responsible for, and yet which benefit primarily the financial oligarch right here and right now.

Fixing the unprecedented level of corruption that has gripped America will not be done with the voluntary retirement of one person who should have done more, but kept his mouth shut (for whatever selfish reasons). The system, sadly, is so rotten to the core, that only a grand reset of every social and political institution will help.

Luckily, we have the Fed for that, which courtesy of its lunatic actions is bringing this once great country every day closer to the abyss.

The good news: there is no turning back now - the entire financial system is now on crash course at a pace of $85 billion per month and accelerating.

The bad news: it will take a while before the final tide subsides for one final time as the status quo will certainly not go without a fight. A very big, and very lethal fight.

[Lucille]

MATT TAIBBI ON THE OBAMA DOJ
http://www.theburningplatform.com/?p=48542

[Lucille]

Too Big To Jail Is Here To Stay
http://www.zerohedge.com/news/2013-0...jail-here-stay

Lanny Breuer, the Assistant Attorney General who claimed that prosecuting banks for crimes poses a risk to the financial sector and so corrupt bankers are “too big to jail” has lost his job
[...]
But the man who put him there, and who is ultimately responsible for the policy — the Attorney General himself — is here to stay.

Simon Johnson notes:

Attorney General Eric Holder expressed similar views in the context of discussing why more severe charges weren’t brought against Zurich-based UBS AG last year for manipulating the London interbank offered rate. And Neil Barofsky, a onetime senior prosecutor and former inspector general of the Troubled Asset Relief Program that administered the bank bailouts, provided a scathing assessment of Justice Department policy.

The Justice Department likes to quote Thomas Jefferson: “The most sacred of the duties of government [is] to do equal and impartial justice to all its citizens,” a line that appears in its latest budget documents.

This sentiment is hardly consistent with saying that some companies have characteristics that put them above the law. Jefferson himself was very worried about the concentrated power of financiers — he would have seen today’s problems much more clearly than do Holder and Breuer.

Fundamentally, Obama’s continued support for Holder illustrates that Obama is still committed to the policy of holding financiers to a lesser standard of justice than other citizens.
[...]
The big banks continue to ride roughshod over the American people with the complicity of the political class. Too Big to Jail is an affront to the Constitution, an affront to the Bill of Rights, an affront to those like Rosa Parks, Martin Luther King, Lysander Spooner, Frederick Douglas and all those who at various times crusaded to make equality before the law a reality in America.

The only sensible way forward is that lawbreakers on Wall Street must be prosecuted in the same way as other lawbreakers. That means that Eric Holder and all others associated with Too Big To Jail must lose their jobs.

But I doubt that will happen any time soon.

[AFPVet]

No kidding... it's like the little guy telling the big guy what to do. The banks own them.

[Lucille]

And Holder protects the bankstas again.

Eric Holder Holds One Half Of US Rating Agencies Accountable For Financial Crisis
http://www.zerohedge.com/news/2013-0...nancial-crisis

Pure pathetic political posturing, because it was the rating agencies, whose complicity and conflicts of interest everyone knew about, who were responsible for the financial crisis. Not Alan Greenspan, not Ben Bernanke, and certainly not Wall Street which made tens of billions in profits selling CDOs to idiots in Europe and Asia. Of course, the US consumer who had a gun held against their head when they were buying McMansions with no money down and no future cash flow is not even mentioned.

Full release from the US Depratment of Promoting Injustice for kleptocrat bankers

Department of Justice Sues Standard & Poor’s for Fraud in Rating Mortgage-backed Securities in the Years Leading up to the Financial Crisis
Complaint Alleges that S&P Lied About its Objectivity and Independence And Issued Inflated Ratings for Certain Structured Debt Securities.

Attorney General Eric Holder announced today that the Department of Justice has filed a civil lawsuit against the credit rating agency Standard & Poor’s Ratings Services alleging that S&P engaged in a scheme to defraud investors in structured financial products known as Residential Mortgage-Backed Securities (RMBS) and Collateralized Debt Obligations (CDOs). The lawsuit alleges that investors, many of them federally insured financial institutions, lost billions of dollars on CDOs for which S&P issued inflated ratings that misrepresented the securities’ true credit risks. The complaint also alleges that S&P falsely represented that its ratings were objective, independent, and uninfluenced by S&P’s relationships with investment banks when, in actuality, S&P’s desire for increased revenue and market share led it to favor the interests of these banks over investors.

“Put simply, this alleged conduct is egregious – and it goes to the very heart of the recent financial crisis,” said Attorney General Holder. “Today’s action is an important step forward in our ongoing efforts to investigate – and – punish the conduct that is believed to have contributed to the worst economic crisis in recent history. It is just the latest example of the critical work that the President’s Financial Fraud Enforcement Task Force is making possible.”

Attorney General Eric Holder was joined in announcing the filing of the civil complaint by Acting Associate Attorney General Tony West, Principal Deputy Assistant Attorney General for the Civil Division Stuart F. Delery, and U.S. Attorney for the Central District of California André Birotte Jr. Also joining the Department of Justice in making this announcement were the attorneys general from California, Connecticut, Delaware, the District of Columbia, Illinois, Iowa and Mississippi, who have filed or will file civil fraud lawsuits against S&P alleging similar misconduct in the rating of structured financial products. Additional state attorneys general are expected to make similar filings today.

Only after the state attorneys general patted the bankstas on the back for a job well done (fraudclosure settlement).

[thoughtomator]

May a harmed citizen produce justice in lieu of the government doing one of the few jobs it genuinely is authorized to do.