Tag: Attorney General

After six years of protecting them, former Attorney General Eric Holder triumphantly returned to his roots, the law firm where he defended Wall Street and the banking industry before his appointment as AG. As though this was ever in doubt.

Eric Holder, Wall Street Double Agent, Comes in From the Cold

Matt Taibbi, Rolling Stone

Barack Obama’s former top cop cashes in after six years of letting banks run wild

Eric Holder has gone back to work for his old firm, the white-collar defense heavyweight Covington & Burling. The former attorney general decided against going for a judgeship, saying he’s not ready for the ivory tower yet. “I want to be a player,” told the National Law Journal, one would have to say ominously.

Holder will reassume his lucrative partnership (he made $2.5 million the last year he worked there) and take his seat in an office that reportedly – this is no joke – was kept empty for him in his absence.

The office thing might have been improper, but at this point, who cares? More at issue is the extraordinary run Holder just completed as one of history’s great double agents. For six years, while brilliantly disguised as the attorney general of the United States, he was actually working deep undercover, DiCaprio in The Departed-style, as the best defense lawyer Wall Street ever had.

Holder denied there was anything weird about returning to one of Wall Street’s favorite defense firms after six years of letting one banker after another skate on monstrous cases of fraud, tax evasion, market manipulation, money laundering, bribery and other offenses. [..]

In this light, telling reporters that you’re going back to Covington & Burling to be “engaged in the civic life of this country” seems like a joke for us all to suck on, like announcing that he’s going back to get a doctorate at the University of Blow Me.

Holder doesn’t look it, but he was a revolutionary. He institutionalized a radical dualistic approach to criminal justice, essentially creating a system of indulgences wherein the world’s richest companies paid cash for their sins and escaped the sterner punishments the law dictated.

Eric Holder Returns as Hero to Law Firm That Lobbies for Big Banks

By Lee Fang, The Intercept

After failing to criminally prosecute any of the financial firms responsible for the market collapse in 2008, former Attorney General Eric Holder is returning to Covington & Burling, a corporate law firm known for serving Wall Street clients.

The move completes one of the more troubling trips through the revolving door for a cabinet secretary. Holder worked at Covington from 2001 right up to being sworn in as attorney general in Feburary 2009. And Covington literally kept an office empty for him, awaiting his return.

The Covington & Burling client list has included four of the largest banks, including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo. Lobbying records show that Wells Fargo is still a client of Covington. Covington recently represented Citigroup over a civil lawsuit relating to the bank’s role in Libor manipulation.

Covington was also deeply involved with a company known as MERS, which was later responsible for falsifying mortgage documents on an industrial scale. “Court records show that Covington, in the late 1990s, provided legal opinion letters needed to create MERS on behalf of Fannie Mae, Freddie Mac, Bank of America, JPMorgan Chase and several other large banks,” according to an investigation by Reuters.

The Department of Justice under Holder not only failed to pursue criminal prosecutions of the banks responsible for the mortage meltdown, but in fact de-prioritized investigations of mortgage fraud, making it the “lowest-ranked criminal threat,” according to an inspector general report.

With the Republicans now in charge of the Senate, the filibuster games continue with the shoe on the other foot. Although I have to say, the Democrats have used it to stop the more egregious legislation that the Republicans have tried to pass. By attaching controversial riders to popular bills, such as their fight with the White House over immigration getting attached to the funding bill for the Department of Homeland Security, the GOP leadership didn’t expect the tactic to backfire in the press and public opinion. The Republicans may have gerrymandered themselves into being in charge but that doesn’t mean they have the capacity to lead or public support.

The Senate GOP current hostages are the victims of human trafficking and Attorney General nominee Loretta Lynch. A popular bipartisan bill to aid victims of human trafficking has been held up by the Democrats in the Senate when they discovered that the Republicans had surreptitiously added an anti-choice amendment that would restrict funding for abortions.

The Justice for Victims of Trafficking Act of 2015, which would establish a fund to raise money for victims from the fees charged to traffickers, wasn’t supposed to be controversial. It has supporters on both sides of the aisle and easily passed the House earlier this year. Both Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Harry Reid (D-NV) have urged members of their parties to support the legislation.

But this week, top Democrats learned that the bill includes language modeled after the Hyde Amendment, which restricts public funding for abortion procedures. The new fund created for trafficking victims would be subject to the same restrictions that currently prevent the public Medicaid program from using federal dollars to finance abortion coverage. [..]

Adam Jentleson, a spokesman for Reid’s office, said the proposed language in the trafficking bill would actually go beyond Hyde’s current scope by including fees and fines, instead of just taxpayer funds. He believes that “could lead to a dramatic expansion of abortion restrictions in future years.” [..]

Reproductive rights groups have also harshly criticized the abortion provision in the bill, accusing Republicans of playing politics with the vulnerable victims of human trafficking. They point out that victims often need access to abortion services because they have been subject to sexual violence, so a fund designed to help them shouldn’t cut off resources related to abortion.

Needless to say, the Democrat’s filibuster of a second bill, with unpopular provisions, in as many months is not sitting well with Senate Majority Leader Mitch “The Human Hybrid Turtle” McConnell who went on CNN’s “State of the Union” and told host Dana Bash that the consideration of Loretta Lynch would not happen until the trafficking bill passed.

McConnell told Dana Bash on CNN’s “State of the Union” that Lynch’s nomination will remain in a holding pattern until Democrats allow the trafficking bill to move forward.

“This will have an impact on the timing of considering the new attorney general. Now, I had hoped to turn to her next week, but if we can’t finish the trafficking bill, she will be put off again,” he said.

He argued it was a non-controversial bill that came out of the Judiciary Committee unanimously. He noted the language Democrats are objecting to was part of the legislation from the beginning of its consideration.

“They all voted for the very same language in a bill in December,” he said. “This is boilerplate language that has been in the law for almost 40 years that they all voted for three months ago in another bill.”

Sen. McConnell’s claim that the Democrats knew about the anti-abortion provision and knowingly voted for it is [disputed by the Democrats on the Judiciary Committee :

“These provisions, my caucus did not know about,” Senate Minority Leader Harry Reid (D-Nev.) told reporters Tuesday. “The bill will not come off this floor as long as that [abortion] language is in it.”

Even Democrats on the Judiciary Committee said they had no idea the abortion provision was in the bill. Some suggested they had been misled.

“There was a representation that the controversial provision was not included in this bill. It turns out that it was,” said Sen. Dick Durbin (D-Ill.), a Judiciary Committee member. “I don’t know how that happened or who was the author of it.”

“A list was sent to certain members saying, ‘Here are the changes from last year.’ This provision was not listed among them,” said Sen. Chuck Schumer (D-N.Y.), also a Judiciary Committee member.

Sen. Patrick Leahy (D-Vt.), the committee’s ranking member, chastised his GOP colleagues for using “debates about some of the most vulnerable among us to advance their own political agenda.”

Needles to say the Democrats, so far, aren’t caving to this latest GOP blackmail:

Sen. Charles Schumer (N.Y.), the third-ranking member of the Democratic leadership, slammed McConnell for further delaying Lynch.

“For months and months, Republicans have failed to move forward with‎ her nomination using any excuse they can, except for any credible objection to her nomination itself. It’s time for Republicans to stop dragging their feet on Loretta Lynch,” he said in a statement Sunday morning. ‎

Adam Jentleson, Senate Democratic Leader Harry Reid’s (D-Nev.) spokesman, accused McConnell of backtracking on his pledge to schedule Lynch for a vote.

The GOP hates Attorney General Eric Holder, who has already said his goodbyes, but they have held up Ms. Lynch’s nomination for 128 days, longer than any other Attorney General nominee. This might not be so bad since Ms. Lynch may not be the best choice to replace Mr. Holder considering her dubious ties to Wall Street and the banks. Her slap on the wrist agreement without criminal charges in the HSBC money laundering case would be a good reason to reject her. Now, the question is will the Democrats sacrifice her to protect the right to an abortion for victims of human trafficking. Stay tuned to see who blinks first.