Monday, May 30, 2011

The Ulsterman Report: Eric Holder’s Down Low Wall Street Love Affair…

by Ulsterman
May 23, 2011

Despite promising to go after Wall Street crime, Obama’s Attorney General Eric Holder has done just the opposite – Wall Street prosecution rates have plummetted.

President Obama’s Attorney General Eric Holder clearly has a very difficult time with the truth. In 2008 and 2009 he went on record stating he would aggressively prosecute those Wall Street executives allegedly responsible for the economic collapse and resulting Great Recession. Anti-Wall Street attacks were, and remain, common in the Obama White House public relations arsenal, but the actions, or more importantly, the in-actions, of this administration paints a clearly differing reality that exists between Wall Street and Obama Inc.

Since Holder’s promise in 2008, not one top Wall Street executive has been criminally charged for any wrongdoing by Eric Holder’s Department of Justice. Not one. Either Eric Holder was grossly incompetent in making such an aggressive and oft-repeated promise that said prosecutions were coming, or he simply lied about his intent to do so – or perhaps some combination of the two.

Which is it Mr. Holder?

What the Holder Justice Department has done is vastly increase mortgage fraud prosecutions that have primarily forced mid-tier banking institutions to buckle under the weight of further federal regulation and scrutiny. These increases did not hamper Wall Street so much as they did small businesses, while at the same time initiating widespread banking failures and resulting consolidation by the larger lending institutions - in essence, enhancing the power and wealth of the very same Wall Street firms Holder had earlier threatened to go after. The very same Wall Street firms that overwhelmingly supported Barack Obama for president in 2008.

So at present, the United States has an Attorney General who gives guns to Mexican drug cartels and dollars to Wall Street bigwigs, to say nothing of wanting to prosecute the same CIA operatives President Barack Obama praises when it is to his political advantage to do so.

Valerie Jarrett must be so pleased…

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