Holder Wants to Stop Playing Mukasey’s Whack-a-Mole with Financial Fraud

[deminks]

http://emptywheel.firedoglake.com/2009/04/05/holder-wants-to-stop-playing-mukaseys-whack-a-mole-with-financial-fraud/

Last June, at a time when it was clear the shitpile was a big fraud but before the perpetrators had destroyed the evidence, Michael Mukasey decided he'd rather play whack-a-mole with financial crime than pursuing it at a national level.

For some reason, Michael Mukasey doesn't want to investigate and prosecute mortgage fraud using a comprehensive, centralized approach.

Attorney General Michael B. Mukasey rejected on Thursday the idea of creating a national task force to combat the country’s mortgage fraud crisis, calling the problem a localized one akin to “white-collar street crimes.”

(snip)

Eric Holder doesn't think that was such a good idea (via TPMM).

Mr. Holder said the Justice Department is planning a new initiative to bring together federal and state prosecutors in combating financial fraud and white-collar crime.

"We will be working with them to come up with a way to deal with these fraud problems and white-collar problems. The federal government can't do this alone," Mr. Holder said.

(end snips)

A glimmer of hope. A glimmer.

[Myrina]

1. I'll believe it when I see Exec perp walks and assets seized.

Not until. :(

[Metta]

2. Holder's unfit unless he goes after Bush admin torturers and fraud meisters.

Happy karma.

[Hawkowl]

3. Snowball rolling downhill

I have recently come to view President Obama's administration's actions as a snowball at the beginning of its roll down a triple black diamond run. The efforts at bringing Bushco to justice are at the bottom of the hill awaiting the avalanche. To get the avalanche, the administration is going to have to start with baby steps and build up the snowball to keep it rolling downhill. So first it's Waggoner at GM then maybe a few bank and insurance executives. Then maybe some higher level former federal regulators and maybe a very powerful bank chairmain, then...?

It is too much to ask, impossible in fact, to expect Obama to come in and within sixty days, pull completely out of Afghanistan and Iraq, prosecute Wall Street fraudsters and indict Bushco for war crimes. He just doesn't have the juice. Hopefully, he is busy plotting on how to get the juice. He being a Chicago pol, I would not be surprised if he is using a Mayor Daley type strategy of slow, gradual, accumulation of unstoppable political power.

We'll see.

[C......N......C]

4. . "He just doesn't have the juice".

Then that means that he is being opposed and none of those pork barrel dipping bums is ever going to help him. I've watched all the hearings that I could. Those guys asking the questions are just as guilty as the ones answering for the most part. And since they aren't jumping to help, that reaffirms my suspicions.

[Hawkowl]

5. Indeed

I agree that the pork barrel bums are opposing him at this stage. However, the are without principles and will fall in line with the President as he accumulates political power, i.e; as he garners more public approval as he brings justice to the wrong doers. Once Obama manages to bring down a few Wall Street criminals, (basically the gods that corrupt congressman pray to) expect the congress whores to look to Obama as protector and leader.

Granted, all speculation on my part, but, as a former Chicagoan, it is similar to how Mayor Daley has become bullet proof.