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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsUSAG Holder Appears at NPR: Declares 90 Day Deadline on 2008 Mortgage Crisis
Just yesterday, at the National Press Club in Washington D.C., with a few acquaints of yours truly in attendance, United States Attorney General - Eric Holder (pic below from the NY Post article) - profoundly proclaimed a 90 day deadline for cases to be brought forth concerning the 2008 mortgage crisis.
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[font size=5]As per the New York Post article on Holder's remarks
[center] "Eric Holder launches 90-day crusade against bank leaders";[/font][/center]
After years of pressure from some lawmakers, civic leaders and Occupy Wall Street protesters, the countrys No. 1 law enforcer said Tuesday he has instructed many of his 93 federal prosecutors to review any residential mortgage fraud case they have brought against a financial institution stemming from the 2008 financial crisis to see if any executive could be held accountable for the companys actions.
Both civil and criminal cases will be on the table, Holder said.
The prosecutors have been given three months to report their findings to Washington.
Holder, speaking at the National Press Club in Washington, asked the prosecutors to try to develop cases against individuals and to report back in 90 days with regard to whether they think they can successfully bring criminal or civil cases against those individuals.
The Bronx-born AG, who is stepping down from the post hes held since 2009, said Loretta Lynch, who has been nominated to replace him, will likely get those responses.
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If they couldn't bring cases for the last 6 years, it is highly unlikely that they can do so in the last few weeks. Be that as it may, it would be nice to see some butt kicking of the Wall Street fraudsters.
By the way - I'm volunteering an easy case, for his Lordship Eric Holder - to go out with a big wang whoop of Wall Street Fraudsters.
I'm just sayin......
been sayin.......
and sayin......
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7wo7rees
(5,128 posts)Just saying.....
If he was really serious, charges would have been filed long ago.
This is just CYA. Nothing more, nothing less.
laserhaas
(7,805 posts)I don't like Holder's administration - and failure
including my case.
malaise
(269,157 posts)laserhaas
(7,805 posts)Been trying to lock them up for 14. Years now.
Had some success with 24 or so smaller fishes
Real hard to real {not sic} in the really big stinkers
OnyxCollie
(9,958 posts)Sleepy Holder is on the case!
Since Sleepy couldn't find one torture case to prosecute out of a 6,000 page Senate report, I expect this will play out the same way.
laserhaas
(7,805 posts)Sleeply Holder
Priceless!
7wo7rees
(5,128 posts)laserhaas
(7,805 posts)I agree!
NBachers
(17,136 posts)laserhaas
(7,805 posts)Thriller..
Highky unlikely.
If they do one...don't they have to do many.
DeSwiss
(27,137 posts)Somebody must have missed a payment or something.....
K&R
laserhaas
(7,805 posts)So that the newbie can't be compelled
To do something about it...
Fumesucker
(45,851 posts)People who cannot be held responsible.
It's a culture thing.
laserhaas
(7,805 posts)Aw...forget that.....
Mittmentum doesn't care about legalities
Cha
(297,655 posts)laserhaas
(7,805 posts)And Laser Da Law learner
Keeps on learning and making
F R I E N D S
Cha
(297,655 posts)sniffs their nose at something that's beneficial because it wasn't done sooner or as much as I would like.
laserhaas
(7,805 posts)To some it is a dare to cross it
Others an invitational to go to another side
Meanwhile, we go to sleep, the tide comes in at night
And it all washes away
Fumesucker
(45,851 posts)War on Drugs= Fifty years and going and billions upon billions of dollars
War on the Banksters= Ninety days and a buck ninety five.
Priceless.
What's in your wallet?
laserhaas
(7,805 posts)QuickMitt n companies ,,,took it all
KG
(28,752 posts)he know which side his bread is buttered.
laserhaas
(7,805 posts)Now i have to look another one up
Dam
Or should I say whoa!
sendero
(28,552 posts)... be it window dressing, preemptive neutering, you name it, it is most certainly NOT about prosecuting fraud.
laserhaas
(7,805 posts)And you are odds on favorite to be spot on
On what's going on
Also like the phrase. " preemptive neutering"
Sunlei
(22,651 posts)Time to let go of any unproductive Gov. prosecutors.
laserhaas
(7,805 posts)Let's give USAG Loretta Lynch a chance
Sunlei
(22,651 posts)laserhaas
(7,805 posts)The crime occurred..
But of when it is known that such is a crime..
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In cases of ...bank robbery..you know it was a crime...when the robbery transpired
In cases of Banks and such doing Racketeering on issues of the mortgage crisis (Note..there IS cibil RICO too)...the SOL is not written.into the code
But courts have tried to establish a 4 year doctrine
And there's always exceptions
bemildred
(90,061 posts)When the review is done?
laserhaas
(7,805 posts)All issues of SOL (ain't it a quaint nym) - are case specific.
State codes, federal codes, Hatch Act, SarOx, Dodd Frank.
As Judge Rakoff said - we don't need any more laws;
but who is going to apply them!
Question here is - the intent of Holder;
------------------------ and I don't trust his intent...
but that's just me....
bemildred
(90,061 posts)I thought it might be like that, somewhat ad hoc, case by case.
I think Holder has done some good things, but I don't trust him where banks are concerned either.
Thanks.
NBachers
(17,136 posts)If you go back to 1965, that means that there's a 50 year history of arrest, enforcement, and conviction.
Start with the people who signed the fraudulent mortgage documents that allowed banks to steal peoples' homes.
Give 'em stiff sentences unless they rat out their supervisors and department heads.
Work up the chain to those who bundled and sold the toxic assets.
Do the same to the predators who peddled home equity loans against vulnerable seniors.
There's an enormous prison-industrial-enforcement world that can be re-directed. Bust into the gated communities and throw flash bangs in the cribs and kill the family pets. Railroad the fraudsters and banksters into prison.
Don't say it can't be done; they've been doing it for decades.
laserhaas
(7,805 posts)But do understand where you're coming from
laserhaas
(7,805 posts)Normally, I'd start a thread on this issue; but it gives credit to Koch brothers.
http://www.huffingtonpost.com/2015/02/19/judge-regrets-weed-sentence_n_6713568.html?utm_hp_ref=politics&ir=Politics
Sad state of affairs...