By Jason Sattler

Holder: Banks Are Not ‘Too Big To Jail’

May 15, 2013 3:15 pm Category: Memo Pad, Politics 31 Comments A+ / A-
Holder: Banks Are Not ‘Too Big To Jail’

Attorney General Eric Holder told the House Judiciary Committee Wednesday that big banks are not “too big to jail.”

In March, Holder had told the Senate Judiciary Committee, “I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them.” This comment has been interpreted to justify the findings of a PBS Frontline investigation that found that Holder and his department have resisted taking banks to court based on a fear of shocking financial markets.

Responding to a question from Rep. John Conyers (D-MI) about his comment from March, Holder conceded again on Wednesday that such prosecutions may be too difficult, but stressed that “there’s no bank, there’s no institution, there’s no individual that cannot be prosecuted by the U.S. Department of Justice.”

“Let me be very, very, very clear… banks are not too big to jail,” Holder added.

The DOJ has not brought any criminal charges against the big banks since the financial crisis of 2008 forced taxpayers to bail them out.

Senator Elizabeth Warren (D-MA) sent a letter to the Justice Department earlier this week, calling for explanations into the settlements that have been made with the big banks.

“If large financial institutions can break the law and accumulate millions in profits, and if they get caught, settle by paying out of those profits, they do not have much incentive to follow the law,” she wrote.

The DOJ’s handling of the subpoenaing of Associated Press reporters’ phone records has been another major focus of the hearing. Rep. Conyers said he was “troubled by the notion that our government would pursue a broad array of phone records over a period of time,” and suggested that Congress should pass a press shield law and other protections for the news media.

Holder reiterated that he recused himself from the AP case because he had been a material witness in the investigation of leaked classified information. He went on to assert that he had confidence in the members of his department who were carrying out the investigation.

In response to other questions from the Judiciary Committee, the attorney general reasserted his belief that the U.S. prison in Guantánamo Bay should be closed, and defended the record of Thomas Perez, President Obama’s nominee to lead the Labor Department.

Holder also addressed reports that two rogue bureaucrats in the Internal Revenue Service inappropriately targeted Tea Party groups, calling the IRS’ actions “outrageous” and promising more answers for the committee as the criminal investigation that he has opened proceeds.

“Anybody who has broken the law will be held accountable,” Holder said.

White House Press Secretary Jay Carney announced Wednesday that President Obama will meet with Treasury officials to discuss the targeting of conservative groups by the IRS.

Holder’s testimony has turned heated at times, particularly in a testy exchange with Rep. Darrell Issa (R-CA). After Issa repeatedly interrupted Holder’s answers, the attorney general angrily rebuked the California congressman.

“It is inappropriate and too consistent with the way in which you conduct yourself as a member of Congress,” Holder said. “It is unacceptable. It is shameful.”

You watch the the hearing live here.

AP Photo/J. Scott Applewhite

Holder: Banks Are Not ‘Too Big To Jail’ Reviewed by on . Attorney General Eric Holder told the House Judiciary Committee Wednesday that big banks are not "too big to jail." In March, Holder had told the Senate Judicia Attorney General Eric Holder told the House Judiciary Committee Wednesday that big banks are not "too big to jail." In March, Holder had told the Senate Judicia Rating:

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Comments

  • 2hheels2

    I will believe it when we see these corrupt protected souls serving time.

    • CPAinNewYork

      I second that opinion. After all is said and done, Holder, who comes from a “Wall Street” law firm, will return to that environment when his term of office is done.

      He is not about to foul his own nest.

      • FredAppell

        It’s ironic, you and I were just discussing this very thing yesterday. I hope Holder realizes that the onus to open real investigations is now his.
        I fear that this won’t go any further than a superficial remark.

      • ObozoMustGo

        For once, a moment of truth from CPANY. You and I agree on something.

    • Michael Kollmorgen

      Yea, I”ll believe this too, WHEN it happens!

  • ObozoMustGo

    Ohhhh brother… what a waste of oxygen Eric “The Incompetent” Holder is. The only thing that thug is good for is being the tip of the spear for the Obozo regime’s intimidation and corruption schemes.

    Bwwwwwwwaaaaaaaaaaaaaahahahahahahahahahahahahahaha….. ROFLMAO when he says “there’s no bank, there’s no institution, there’s no individual that cannot be prosecuted by the U.S. Department of Justice.”………………. HOW ABOUT PROSECUTING THE CRIMINAL THAT OCCUPIES THE WHITE HOUSE? He’s the biggest, most crooked piece of garbage to ever have fooled enough morons into voting for him in the history of the US.

    Here’s a picture of where he should be for the rest of his crooked existence.

    Have a nice day!

    “I have made it clear that the United States government had nothing to do with this video,” – Barack Hussein Obozo lying to the world in his speech to UN General Assembly following the Benghazi attack

    • awakenaustin

      ESAD troll.

    • CPAinNewYork

      As usual, Obozo tries to weasel out of a tough situation by shifting the subject to something with which he’s comfortable. In this case, Obozo doesn’t want to respond to the challenge posed by those who say that the Wall Street pirates who commit “crimes” should be indicted and prosecuted, so he pretends to want to convince us that the president has committed “crimes” for which he should be impeached. Significantly, Obozo doesn’t name those “crimes.”

      Obozo, I know that your back is against the wall. I’ll keep questioning you on this issue.

      • http://www.facebook.com/robert.robertson.sr Robert P. Robertson

        You’re exactly right! Bozo the Clown dodges real issues like a fly, but he can suck a peanut out of a hot sauce bottle!

        • Michael Kollmorgen

          He can suck a Bowling Ball out of an Exhaust Pipe.

      • ObozoMustGo

        Hey stupid! In case you’ve got your head too far up Obozo’s ass to know what is going on in the real world, I will let you know the facts:

        1) Obozo has raised hundreds of millions from those “Wall Street Pirates”

        2) Eric “The Incompetent” Holder has been the head of the DOJ for nearly 5 years.

        3) In The Incompetent one’s term, the DOJ has prosectued how many “Wall Street Pirates”? EXACTLY ZERO!!!!!!!!!! You fool.

        4) In fact, the worst of the worst of “Wall Street Pirates” was actually a good buddy of Obozo’s…… Jon Corzine. He stole $2 BILLION from farmers to cover his bad bets in the UK. Was he prosecuted? NOT FOR ONE SINGLE SECOND WAS HE PROSECUTED, despite the fact that his own secretary stated under oath that Corzine himself was the one that was executing the illegal transfer of customer money to company accounts in the UK to cover his bad bets. Where was Eric The Incompetent on that one?

        Obozo’s crimes?

        1) Fast and Furious

        2) Benghazi cover up of arms dealing to Al Qaeda in Libya and Syria. Arming the enemy is treason. Impeachable and punishable by death.

        3) Whistleblower intimidation by illegally snooping on the entire AP reporting staff

        4) Abuse of power through the use of the IRS to harrass and stonewall organizations that oppose him as political opponents

        All of these are crimes. And by the way, impeachment doesn’t only require crimes. It also includes misdemeanors. If only Obozo was guilty of misdemeanors. But he’s not. He’s guilty of high crimes. The truth will come out.

        I feel sorry for you for being such a patsy and useful idiot. Obozo LIES to your face because he thinks you’re an idiot and knows you’ll support him no matter what he does. I’ve said it before and I’ll say it again. There could be video of Obozo performing lewd acts with a child and the vast majority of you fools would still support and defend him.

        Have a nice day!

        “There is no video that justifies an attack on an embassy.” – Barack Hussein Obozo lying to the world in speech to UN General Assembly following the Benghazi attack

        • CPAinNewYork

          Obozo:

          Didn’t I complain about Holder’s failure to prosecute the Wall Street crowd? Perhaps you were so enraged at the thrust of my posting that you missed its point. Just to be clear: Holder isn’t going to prosecute the people he hopes to work with when his term of office is over.

          As to Obama’s raising money from Wall Street: It’s peanuts compared to what your hero Romney has raised from his crowd of Super Pac heroes. Romney, Rove, Cheney, Rumsfeld, Koch, etc. are a bunch of elitist pricks who don’t give a damn about anyone outside of their immediate circle of crooks.

          I’ll agree with you on the AP and the 501(c)(3) scandals. They’re almost as bad as Bush 43’s starting a war based on the lies of his cronies and him, just to make a fat profit on the war contracts.

          As to Benghazi: What happened there is still unexplained. I don’t know what happened, but someone screwed up totally to leave that place undefended.

          Well, shithead. I hope that I’ve cleared the air with you for the moment. It’ll be just for a moment, though, because I believe that you’re too befuddled to have a decent appreciation of what’s going on.

          I’d tell you to have a nice day, but that bit of hypocrisy is best left to unimaginative dopes like you.

          • http://www.facebook.com/robert.robertson.sr Robert P. Robertson

            You summed that up quite well, my friend. Bozo won’t answer, though. He wears a wrist ban warning: CAUTION: Severe allergic reaction to logic and facts.

          • Michael Kollmorgen

            You have to remember, it’s been the Republicans who have been demanding cuts and getting them cut for Embassy Defense Personnel.

            That’s probably why they didn’t have enough people to defend the place. I mean, it don’t take a lot of brain cells to figure it out.

    • Michael Kollmorgen

      More?

    • http://www.facebook.com/people/Ford-Truck/100003735221640 Ford Truck

      Whatever you think of Obama, the “most crooked piece(s) of garbage” to ever occupy the White house was the previous administration with W. Bush, Cheney, Rumsfeld, Rove…… The hottest corners of hell are not enough for that handful of shit!!

    • http://www.facebook.com/robert.robertson.sr Robert P. Robertson

      A crime should be made for stupidity so they could lock your ass up, Bozo the Clown.. You’ll be the biffest bitch in prison! You’ll be singing “It’s raining men!” You’ll have dicks every where and so many to choose from.I can just see you: “Don’t fuss, don’t fight, there’s enough for everybody!” I bet you could be sold for as high as a cartoon of Marlboro’s!

      • Michael Kollmorgen

        A Pack of Kools is usually the standard price. Well, maybe two packs these days.

    • http://www.facebook.com/people/Denis-Winkle/100003193604251 Denis Winkle

      You must worship Bush 43! And praise him for the deaths of 3400 Americans. In looking the other way. After being warned before hand of the 911 attack. You must have jumped for joy when he proudly stood on an aircraft carrier as declared “We have been victorious” The War is Over!!!

      You must worship ALEC and Its Tea Party for obstructing the “Right to Vote, the Right To Referendum and the Right to choose. You must worship Romney and His wife Sectary of Labor Elaine Chaos for slandering American workers [you] “as the uncouth lazy bum that wants something for nothing”. As Mitt Romney and fellow corporate fascist out sourced our Jobs to China. You know! You just make to dam much money. when it come to the competition of Cheap Labor. Maybe you will jump up and down for joy at what ALEC and it tea party. A Bought politican is planning for you and your family today.

      Working Families Flexibility Act Passes House Over Opposition Of Democrats,
      Labor
      Posted: 05/08/2013 5:59 pm
      EDT | Updated: 05/09/2013 11:13 am EDT

      To destroy the overtime pay! Is to destroy our economic recovery and the
      devaluation of your basic needs!

      But!!!!! In cutting overtime! You pay less “taxes”! And Corporations
      make a Bigger Profits. It works out just fine. Doesn’t it!

      Why of course! It’s the profitable thing to do? When it comes to the Special
      Interest of “Cheap Labor” defined as “Competition”
      today! Thank you ObozoMustGo for your support!!

      • Michael Kollmorgen

        I agree with just about everything you posted.

        However, I do disagree with on overtime pay.

        The field I worked in for many years, the machining industry, it wasn’t unusual to work 10 hours or more a day, at least 8 on Saturday and sometimes 8 on Sunday. Yes, these hours were all time and one half over 40 hours.

        The Prime reason we worked so many hours is so that the company didn’t have to hire more employees. Worked us to death in essence and got very good pay in the process. This is a perfectly normal tactic with companies, especially today for those companies that are doing well.

        Another tactic that companies not doing well would use would be to schedule your time so you only got 39 hours a week on the job. With this policy, they didn’t need to pay your fringes like health care, etc. since you weren’t considered a full-time employee.

  • Michael Kollmorgen

    The Federal Government needs to break up these huge banks, similar to what the Feds did to break up the Phone Company years ago, thereby creating Baby Bells.

    They are way too powerful, have way too much influence. It’s high time they are cut down to size. Right now, there is very little competition and/or incentive to compete between them, basically monopolization of the entire market by just a few powerful banks.

    This would also institute “competition” between them, hopefully making banking more affordable for the average person on the street.

    • wesley rasmussen

      Have you noticed that the “Baby Bells” are growing up and getting married to each other again?

      • Michael Kollmorgen

        Yep, the big boy was broken up. But, the Baby Bells are starting to grow and like you said – getting married.

        Emmmm, sort of reminds me of incest. Oh Tut, Tut, the morality of it all …………

        And, with the Supreme Court giving Corporations human rights, well, we’ll be paying them Welfare.

        Crap, we already do that.

    • JSquercia

      What ever happened to Anti Trust Laws . We desperately need a new Roosevelt in the mode of either Teddy or Franklin .

  • CrankyToo

    Don’t tell me about your labor pains, show me the frickin’ baby! Throw some of those greedy, avaricious f##ks underneath the jail.

  • http://www.facebook.com/people/Michael-Stoll/100000621443352 Michael Stoll

    So instead of answering the questions concerning the myriad of Scandals and Deaths He Obama Killary and Susan Rice are involved in he gets mad at Issa for trying to get to the truth and then he spins and deflects without answering the questions put to him …ah yep he’s a Liberal ..er Communist ..um Socialist ? Er Progressive hahaha..All they do is deflect and spin …Holder should be in Jail PERIOD

    • Bill P

      As long as you want to put Cheney, Rumsfeld and other W people in there too. Otherwise you are just another right wing ranter about scandals and deaths. Let’s see Obama had less than 25 deaths while W had nearly 3,000 alone on 9/11/2001. Add the Iraqi war deaths and we are over 6,000 deaths. Mission Accomplished my ass!!

  • acmavm

    He’s just waiting until the statute of limitations has expired and then he’ll hop right on it.

  • Eleanore Whitaker

    All anyone has to do to prove these banks are corrupt is look at the number of complaints against them filed by consumers to the Consumer Protection Agency. Banks, like all entities of wealth, believe as Leona Helmsley once said, “laws are for the little people.” The reality is these banks are too big. In fact, when you scrutinize just how big they are, the obscenity of how they reached near monopoly proportions in violation of US anti-trust laws is nothing short of pure and simple greed and skankola.

  • http://www.facebook.com/people/Michael-Moon/660727274 Michael Moon

    Show us Mr. Holder. Words are easy.

  • JSquercia

    Recent revelations about Bank OF America should give him a chance to PROVE that

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