Insight: Top Justice officials connected to mortgage banks

Comments (28)
AbigailCField wrote:

When I wrote about this last week, I also pointed out the connection between Covington & Burling and the Financial Fraud Enforcement Task Force, which was supposed to target the perpetrators of the Financial Meltdown:

James Garland, who joined Justice with Holder but left in 2010: At Justice, Garland

“advised Attorney General Eric Holder on a range of enforcement issues, with an emphasis on criminal…matters, and helped to spearhead the Department’s response to the ongoing economic crisis. He was deeply involved in the creation of President Obama’s Financial Fraud Enforcement Task Force… He worked closely with senior officials at the White House, Main Justice, the U.S. Attorneys’ Offices, and other federal, state, and local enforcement agencies.” [Bold added]

NOTE: the bolded language is no longer in Covington’s bio of Garland. But it was when I wrote the piece last February.

Steve Fagell, who joined Justice with Holder but also left in 2010:

“a member of the Criminal Division’s senior leadership team, [and] a key advisor to Assistant Attorney General Lanny A. Breuer …[Fagell] was integrally involved, for example, in the formulation and communication of Division policy in connection with…corporate and securities fraud, and other forms of financial fraud.…Mr. Fagell also coordinated the Division’s work with the Financial Fraud Enforcement Task Force and the Financial Crisis Inquiry Commission…[Bold added]

And that’s just a piece of the connections between top Justice folks and Covington.

See, our top prosecutor, his top criminal enforcement deputy, and two key architects of Justice’s approach to Financial Meltdown enforcement all worked or now again work for the very people and companies Justice is failing to prosecute. How much of a coincidence can that be?

My full piece is at http://abigailcfield.com/?p=686

Jan 20, 2012 7:48am EST  --  Report as abuse
breezinthru wrote:

At last! For several years, I have been railing about Eric Holder and the Justice Department’s refusal to use RICO laws to prosecute the largest financial fraud in the history of the world. I couldn’t understand how that was possible. A few modest fines by the SEC in this situation was not only a non-punishment; it was an insult to the intelligence of the American public and an insult to the concept of the rule of law in America.

Since 1972, the only time I ever cast a vote for a Republican presidential candidate was in 2008 and Obama had my vote until he and McCain both voted to bail out Wall Street. I ended up voting for Ron Paul.

Obama must demand the resignation of his Attorney General immediately and bring in someone who intends to restore justice and the rule of law to America! If he does, Obama will get my enthusiastic vote. If not, Obama is as culpable for what has been going on as is Dimon and Blankfein.

Jan 20, 2012 8:00am EST  --  Report as abuse
AZWarrior wrote:

It’s the Chicago Way.

Jan 20, 2012 9:15am EST  --  Report as abuse
CMEBARK wrote:

The usual “Washington good-ole-boy merry go round”.
business as usual.
We don’t need an investigation, we need a purge.

Jan 20, 2012 9:45am EST  --  Report as abuse

No Way! Totally unbelievable! If that was the case, then nobody would be in jail for crashing the economy based upon blatant criminally fraudulent actions, and companies that preyed upon those most hurt by the ensuing recession and fraudulently foreclosing on people’s homes would only be given a ‘slap on the wrist’ at worst and not be required to so much as admit fault, on top of the Justice department only seeking a pittance in compensation from these predatory thieves…

…Oh, ok. So maybe there is a connection. This is sickeningly unjust.

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@AbigailCField — Interesting post. Isn’t it interesting how ‘fluid’ (or vaporous) data on the internet can be?

Jan 20, 2012 9:45am EST  --  Report as abuse
Intriped wrote:

Thank you AbigailCField. Amazing article.

Jan 20, 2012 11:10am EST  --  Report as abuse
doggydaddy wrote:

Guess what, folks? American democracy is dead. Learn to live with it. Or get up off your as_es and do something about it. It won’t change until we kick out the lobbyists and adopt public financing of elections.

Jan 20, 2012 11:11am EST  --  Report as abuse
BCerentano wrote:

I’d like to act surprised but, that’s all it would be… an act.

Jan 20, 2012 11:23am EST  --  Report as abuse
Harry079 wrote:

History:

The Keating Five

Resolute Trust Corporation

Jan 20, 2012 11:27am EST  --  Report as abuse
elyse wrote:

Lawyers should never be allowed to be elected into any public office…period!

Lawyers are the lobbyist and their work is destroying America…hello people?

Jan 20, 2012 11:33am EST  --  Report as abuse
streetview wrote:

Well, this does explain matters, doesn’t it!

In 2008 we were witnesses to the most massive injection of corporate money in an election in the history of our country.

The financial industry threw historic amounts of cash into the campaign of Barack Obama, who refused the public campaign financing he previously had supported. McCain, who did accept public campaign financing, was massively outspent – that money helped get Obama elected.

Upon taking office, Obama reciprocated and immediately appointed Wall Street insiders and their allies to run the key departments of interest to Wall Street – Justice and the Treasury.

Summers and Geithner at Treasury have since then shoveled trillions of taxpayer dollars to Wall Street’s biggest banks, and Holder and Breuer at Justice have stonewalled all efforts to bring criminal Wall Street practices, detailed in this article, to light.

Holder and Breuer have also doggedly prevented prosecution of any of the perpetrators of mortgage fraud, which continues to the present day on a scale never before seen on the face of the earth, again, as documented in your excellent article above.

Against this backdrop, Romney and Bain Capital almost appear to be almost small-thinking country bumpkins – minor acts an amateur-hour show.

Pres. Obama, the constitutional lawyer who just signed into law the indefinite internment of US citizens in military-run gulags without trial, has provided his Wall Street financial backers a return on investment of mind-boggling dimensions.

As there will be no Democratic Party primary for the presidential candidate this year, we have no choice but to vote Barack Obama out in November. He does not deserve another term of office.

I will however vote for Democratic Party candidates for the U.S. Senate and House of Representatives, as the Republicans in these legislative bodies have proven themselves irresponsible and totally unqualified for office.

Jan 20, 2012 12:36pm EST  --  Report as abuse
frisbeeredcat wrote:

This country is a corrupt oligarchy and the notion that we have a Democracy is a joke. By not arresting The Bankers this shows who is really in charge.

Jan 20, 2012 12:46pm EST  --  Report as abuse
acmavm wrote:

Holder has to go. Now.

This all reflects on the credibility and integrity of the guy who’s throwing liberals a few bones because it’s ELECTION SEASON.

Jan 20, 2012 1:04pm EST  --  Report as abuse

The Chinese Central Committee consists of scientists, engineers, technicians, economists, and, more recently, successful businessmen who have proved their ability to succeed for years before their appointment to the Central Committee and higher posts. Lawyers are specialists who draft the laws to achieve the goals of the scientific and economic leaders. Of course, the US does not have a similar selection process, but requirements for scientific, technical, and economic expertise and prohibitions for lawyers can be written as an amendment to the US Constitution that, at present, only requires US representatives to be 25 years old and senators to be 30. It might be advisable for US leaders to know how to do something practical if the US is to compete economically with China.

Jan 20, 2012 1:30pm EST  --  Report as abuse
palmer1619 wrote:

What did the ethics experts have to say about Thomas & Scalia? Is the Department of Justice to be held to a higher standard? That is not to question whether these two should recuse themselves; it is to point out that the two supreme court justices should have recused themselves……several times.

Jan 20, 2012 1:40pm EST  --  Report as abuse
diluded0000 wrote:

I wish they would have tapped these guys phones and internet, like with this latest batch of hedge fund charges. But in this case, “they” is the Justice Department, so that isn’t likely. I was going to say, let the FBI look into it, but they are a Justice Department agency. Who watches the watchers?

Jan 20, 2012 1:48pm EST  --  Report as abuse
jharri1234 wrote:

Eric Holder is a LIAR, THEIF, RACIST and the LAST person that should be at the DOJ. Thsi of course is WHY OBAMA PICKED him.

Jan 20, 2012 2:19pm EST  --  Report as abuse
Mackfab wrote:

and there u have it…the circle is complete…
ur nation of laws revealed as the illusion that it is…
change u can believe n…..

Jan 20, 2012 2:30pm EST  --  Report as abuse

First of all congratulations on a really fine article Mr.Paltrow thank you for some first rate reporting on this criminal enterprise racket. Just yesterday in the B of A paper for pay article I wrote:
Where is Treasury, IRS or Dept. of Justice during all this?
I’ll tell you: Deutsche Bank is one of the largest culprits in all this and DB has a strategic relationship with Wolters Kluwer to handle its ADR transactions exclusively.
WK has many many large US gov contracts to supply State Atty Gen’s & other gov’t offices with computer prog.to manage tax collection and Security transactions as well as advisors to help with negotiating tax laws and interpreting regional tax rules. These are facts look it up.
When you have a banks in bed with a gov’t that is responsible for punishing said bank(s)democracy is dead. I spoke directly to a local DOJ investigator about this and he laughed and said I’m quoting here: ”good luck proving any of this.” Good Luck?
How about- We will investigate these claims and if there is any truth found in the allegations we will prosecute those people involved to the fullest extent of the law. Yeah right… .
Anyone looking for the rule of law to assert itself here is dreaming.
The gov’t is bought and paid by the Corp.banks and they don’t arrest their own.
So Holder & Co. are running a protection racket out of the White House eh?
Interesting how quickly people forget the struggles of their ancestors regardless or race or ethnic origin & become corrupted by the illusion of power and money. Truly sickening how Justice is being subverted and the American people- illiterate, broke, in poor health, and homeless have lost their dignity.
Unless the people around the world follow the lead of Iceland & simply cut off the banks corrupting influences, lock up the criminal political elite who created then profited from the financial collapse nothing will change for the better.
Exposing the corruption, lies and criminal behavior is the reason freedom of the Press is enshrined in our Constitution. Thank you Scot.
Editors take note: The Press is truly the 4th Estate of Gov’t pay your people what they worth and let them do their jobs.
You want dramatic headlines look at this with a microscope and save the world. We (you) ignore this at our peril.

Jan 20, 2012 2:35pm EST  --  Report as abuse
eleno wrote:

Fresh off his win of ‘Slime Ball of the Year” I nominate Holder as “Slime Ball of the Decade”.

He will walk away with the prize.

Jan 20, 2012 3:54pm EST  --  Report as abuse
moonhill wrote:

This is the most corrupt administration in my lifetime. This country cannot survive another 4 years of Obama.

Jan 20, 2012 5:12pm EST  --  Report as abuse
Laster wrote:

Thank You Abigail Field, Scott Paltrow, and Thank You Reuters.

Jan 20, 2012 5:38pm EST  --  Report as abuse
hespirian wrote:

HOLDER AND BREUER both worked for COVINGTON AND BURLING who represent 4 of the biggest banks caught commiting MORTGAGE FRAUD.THERE HAS NOT BEEN ONE PROSICUTION,it appears these useless WALL STREET PUPPETS have done nothing but let there former CRIMINAL CLIENTS the BANKS of WALL ST,walk free.HOLDER AND BREUER AND THERE LOT,represent WALL ST BANKS,THEY DO NOTHING EVEN REMOTE REPRESENTING THE GOOD PEOPLE OF AMERICA,maybe HOLDER can employ CORZINE…WHAT A DISGRACE HOLDER AND BREUER ARE COMPARED TO THE GOOD FOLK OF USA………….

Jan 20, 2012 6:50pm EST  --  Report as abuse
doggydaddy wrote:

moonhill: “This is the most corrupt administration in my lifetime.”

If that is true, then you must be 3 years old, which wouldn’t come as a total shock.

Jan 20, 2012 9:17pm EST  --  Report as abuse
breezinthru wrote:

The president changes every four to eight years; the people who represent the centers of power in DC are far more entrenched.

I think the amount of corruption ebbs and flows over the years, but there is always less ebb and far more flow in DC than there should be. There are surely many yet undiscovered secrets and intentions.

Regarding the profitable situations created and nourished by those entrenched centers of power, it is to their advantage for us to direct our anger at people who will be out of town in a few years like presidents, departing members of congress or political enemies du jour.

Jan 20, 2012 10:29pm EST  --  Report as abuse
SantaFean wrote:

Of course! Is anyone surprised? You are going to have to fight the banks one fraudulent foreclosure at a time. It is better that way for the consumer as it forces the banks to fight one on one and use up their resources and time trying to defend their fraud. So…ask your “pretender” lender or “servicer” these questions…Where is the original mortgage note? Who possesses the original mortgage note? Who is the beneficial owner? Who is the holder in due course? Banks FEAR these questions. IF you are brave enough to ask you will be lied to, misled and even questioned over your right to know! ASK! Banks have no standing to foreclose as the chain of title is broken, the original mortgage note is “gone” and no one can come forward to be a legitimate owner of the mortgage note. LEARN for yourself.

Jan 22, 2012 10:37am EST  --  Report as abuse
Seahound wrote:

Is anyone suprised at this development. It has been going on for years and no one has the guts to stand up to the banks that are holding the world to ransome and pocketing billions of dollars every year. In their present form they are a scourge on the face of this planet.

Jan 23, 2012 11:00am EST  --  Report as abuse
Indamatrix wrote:

My god, the banks and Wall Street really do have their tentacles into everything, don’t they?

Jan 24, 2012 11:41am EST  --  Report as abuse
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