Pic Of The Moment: Eric Holder Admits It: Elizabeth Warren Was Right About Big Banks

[EarlG]

Holder admits Banks are 'too big to charge' (March)

Elizabeth Warren Decries 'Too-Big-For-Trial' Approach to Banks (February)

Follow @demunderground

[Angry Dragon]

1. Eric Holder needs to resign

Last edited Thu Mar 7, 2013, 06:52 PM - Edit history (1)

add: give Eric a call and tell him you think of him
202-541-2001

[Mnemosyne]

9. +1000

[avaistheone1]

23. K&R

The sooner the better.

[MotherPetrie]

27. Yeah, because Obama will never shitcan him

[pam4water]

38. +10,000

[Plucketeer]

2. There's just GOTTA BE

a nice, cushy job "out there" for Eric. We'd ALL be better off if he'd go claim it!

[midnight]

3. K&R...

[JoeBlowToo]

4. Better that we should wait until they crash the economy again...

History disputes Holder's fear of economic catastrophe created by reigning in the banks--

Temin and Wigmore (pp. 488-9) ignore the March 15, 1933,
stock price increase in their assessment of the Bank Holiday.
They go further to state: “For the first month the [FDR] administration
was absorbed with the Bank Holiday and preparing for action.
Stock, bond, foreign exchange, and commodities markets were
quiet and little changed” [italics added].

http://www.newyorkfed.org/research/epr/09v15n1/0907silb.pdf

This is from a paper published by bankers!

[DhhD]

16. Bank Holiday: as in forgiving loans made to those who have become poor due to banker greed?

As in 1%er greed?

[midnight]

35. Bank Holiday would help out a lot of moms and dads....

http://www.democraticunderground.com/10846914

[aquart]

5. It is not his fucking business to judge economic impact.

I want him gone. Obama should be grossly ashamed of this appointment.

[markpkessinger]

41. I absolutely agree with this . . .

. . . Without a doubt, he is the single worst appointment President Obama made (followed closely by Tim Geithner).

[aquart]

43. Well, I still want to hang Geithner but merely retire Holder.

So I have to give Geithner the edge. Preferably the edge of a guillotine.

[NYC_SKP]

6. Warren for President 2016. nt

[avaistheone1]

22. Yes!

[caledesi]

32. Totally agree NYC! nt

[L0oniX]

7. Impact on ecomony? Who's economy? The 10% who make their money on Wallstreet?

I suppose that the Iraq war criminals are too big to prosecute too. We can't prosecute people who torture either ...because we still are torturing people. The law is only for us little people.

I like how corporations are termed "institutions" ...like it's some kind of government operation or insane asylum.

[Beacool]

8. Why is Holder still the AG?

[valerief]

15. Because he has a better memory than Alberto Gonzales?

[Little Star]

10. They need to be prosecuted precisely because they,themselves have a negative impact...

on the economy. Duh! Holder needs to be shown the door.

[DhhD]

11. Nationalize a few banks. Bring a suspected criminal to trial, NOT the bank.

Seems like some Senators, in 2007 or 08, told the Oil and Energy Industry that if they continued to shut down refineries then the Government would nationalize a few (refineries) to bring the supply up causing the price to go back down to affordable levels.

Seems like one of the spokespersons was Chuck Hagel, common sense, do whats right, true American Senator.

The energy business was reconstructed in Mexico in 1910 after a people's revolution. All foreign interests were, kicked out, of Mexico. Since the oil belonged to Mexico, then the oil business was nationalized.

People are watching the subsidies to the poor and price of gasoline in Venezuela.

Americans are watching the 1% and their enablers.

[grahamhgreen]

12. Wow. They really are protecting the criminal class!

[valerief]

14. They ARE the criminal class. nt

[valerief]

13. So what does this admission mean? Business as usual? nt

[SomeGuyInEagan]

19. Move along folks ... nothing to see here.

Reagan - Bush - Clinton - Bush - Obama ... I haven't had a Democrat in the WH for as long as I could vote.

[KoKo]

17. "Too Big to Fail..Too Big to Prosecute"...(would bring down global economy)

according to testimony of our Attorney General...

[Third Doctor]

18. Admitting she is right is also admitting fault

in letting these crooks slide. Holder's boss is Obama.

[Rider3]

20. But, will they do anything to fix this issue?

[A Simple Game]

21. OK, Holder you are right. The banks are too big to prosecute. But the CEO's aren't.

Throw a couple of them in jail and see what the rest of them do.

[Iwillnevergiveup]

40. Exactly!

A bank is a building, an edifice, a bunch of offices and cubicles, a waiting area.
It's the PEOPLE inside who need to be dealt with, one by one by one. It's not a bridge too far.
I say let Eliot Spitzer replace Holder ASAP, but of course, that won't happen because he'll get something done.

[Initech]

24. So what's the next excuse going to be?

If we don't clamp down hard on these fucking banks they're going to keep flushing the economy down the toilet and gamble on risky futures and investments that get way less than their return while the executives get obscene bonuses they don't deserve. Come on Congress get off your asses and start prosecuting these shitheads!!!!

[Pharaoh]

25. Break up the banks

and forgive all loans,

Jesus warned us about the moneychangers and their greed.

This was what he was talking about.

[FreeBC]

26. "Hit with indications"

I'd love to see that further explained and defined.

[AllyCat]

28. If Holder can't do his job, it's time to resign.

Maybe Obama could appoint Warren. I'd bet she would get the job done.

[Sheepshank]

29. Wasn't this the reason given for breaking up the big phone company to smaller subsidiaries?

Perhpas the same princuipal applies here?

[Andy823]

31. I agree

If they are to damned big to prosecute, then start breaking them up so if they pull the same kind of shit again, they "CAN" be prosecuted! Don't wait till the "big" banks do it all over again, and then we can't do a damned thing about it, again!

[frylock]

30. holder is positively worthless

[Bill USA]

33. recommended!

[MisterP]

34. at least she has a phone, unlike Schneiderman

[aquart]

44. ?

[Madmiddle]

36. You can't prosecute

a bank it's just a building. They are perpetrating fraud even now.Holder needs to get lost...

[calimary]

49. Welcome to DU, Madmiddle!

Glad you're here! They need to break up these bigger-than-big bastards!!! He's had four years. He is just useless.

[Yo_Mama_Been_Loggin]

37. Do your job Holder (nt)

[markpkessinger]

39. He's already proven that he either cannot or will not do his job . . .

. . . the only honorable course left is for him to resign. Period.

[Lebam in LA]

42. Eric Holder is worthless as an AG n/t

[lonestarnot]

45. wAH wAH wAH Holder. Why are you getting paid now?

[stevenleser]

46. That makes it simple. The big banks either need to be nationalized or broken up.

If they are too big to be held accountable, they are too big to exist.

[Grateful for Hope]

47. Elizabeth Warren is one amazing women.

I have no doubt that she is responsible for this admission from Holder.

[calimary]

48. What took you so damn long, holder?

SHEESH! What an underwhelming choice for Attorney General. When we need an Avenging Angel.

[michigandem58]

50. So why attack Holder?

He's agreeing with Warren, but because he said it later, he's "admitting" it?

[Uncle Joe]

51. Kicked and recommended.

Thanks for the thread, EarlG.

[johnnyreb]

52. "Experts" who "hit with indications"

In an interview with PBS Frontline for their January 22 "The Untouchables" segment, assistant attorney general for the Department of Justice’s Criminal Division Lanny Breuer said, as to why no prosecutions:

"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."
http://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/untouchables/lanny-breuer-financial-fraud-has-not-gone-unpunished/

It was such an obviously bad statement, that he announced his resignation the day after the show aired (tentatively replaced by Mythili Raman). He continued with:

"And at the Department of Justice, we’re being aggressive, but we should in fact take into consideration what the experts tell us."

So we have "experts" who "hit with indications".