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In spite of his many faults, Eric Holder has been leading a relentless attack on dishonest banking practices. Now, he's after the big boy's money laundering activities.
Good news. He and Sebelius have also been going after Medicare fraud at the behest of the Obama administration; hopefully it will elicit some change and maybe bust up the money operations of some cartels and terrorist networks in the process.
This will be no different than every other investigation into the banks. Concerning the case noted in the article about Wachovia, what happened there?
I have no idea how much it is exactly but a bank makes $500 million off illegal activity, the government fines them $150 million and drops all prosecution against them.
This is never, ever going to stop until some well placed individuals are removed in handcuffs, actually prosecuted and sent to prison.
What goes on here is what the mafia would consider a simple cost of doing business.
In spite of his many faults, Eric Holder has been leading a relentless attack on dishonest banking practices. Now, he's after the big boy's money laundering activities.
It is about time, but they do need to expand it to encompass all the big banks as well. In a ten block walk in my dad's neighborhood in Brooklyn NY, there are approximately 15 banks. There are three Chase banks within a six block walk. Not too suspicious? The only benefit, is that there are no lines to wait on.
The area is comprised of predominantly Russian immigrants and many are notorious for fraud and abuse in any area that makes it all too easy to milk and abuse the system.
don't trust Holder as far as I could throw him....
he is just there to do things to help obama get re-elected, if he does something good it is only to be considered a colateral success.
Fraud has been part of government waste for decades as investigative reporters like Jack anderson wrote reams of articles. no administration has make any real effort to curtail the waste and instead levys more taxes to make up for their carelessness.
Any attempt by Holder is for show and to support class warfare. too bad he just got started 4 years into obama regime. Holder should first investigate Obama's money laundering thinly disguised as an investment in solyndra.
Don't hold your breath if there are any goldman sachs alum in those banks.
Pattern with Geithner who cheated on his taxes and was made head of the treasury
Obama is running a classic communist style crony reward system when it come to big banks and wall st. He winks over his shoulder and then plays bad cop as those who he protects know they can do no wrong no matter what laws they may violate.
Jon corzine was the go to man according to Biden re economic advice. Said to replace geithner as treasurty head and after giving unbelievable answers to a congressional committe that gave a clear perception he was guilty as charged, he walks!!!!!!
This is how the feds investigate their own. Jon corzine is caught red handed and yet being obama's buddy he walks away after testifying he knew nothing.
Yep count on the feds to investigate their cronies
"No Charges Expected Against Executives In August 2012, after 10 months of stitching together evidence on the firm’s demise, the criminal investigation into the collapse of MF Global and the disappearance of about $1 billion in customer money was heading into its final stage without charges expected against any top executives. Investigators were concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case. A lack of charges in the largest Wall Street blowup since 2008 was likely to fuel frustration with the government’s struggle to charge financial executives. Just a few individuals — none of them top Wall Street players — have been prosecuted for the risky acts that led to recent failures and billions of dollars in losses. While the government’s findings would remove the darkest cloud looming over Mr. Corzine — the threat of criminal charges — he is not yet in the clear. A bankruptcy trustee on Aug. 15 joined customers’ lawsuits against him, and regulators are still considering civil enforcement actions, which could cost him millions of dollars or ban him from working on Wall Street." Read More...
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