Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 1 (1 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Article Stats   32 comments

OpEdNews Op Eds

Eric Holder Exposes A Nation of Law, Going Lawless

By (about the author)     Permalink       (Page 1 of 1 pages)
Related Topic(s): ; ; ; ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It

opednews.com Headlined to H2 3/14/13

Become a Fan
  (2 fans)


Eric Holder by www.americanmafia.com
Early In March, Attorney General Eric Holder told the Senate Judiciary Committee he and his Department of Justice were, essentially, unable to prosecute crime. He told the Senators, without any irony at all, that certain private institutions were simply too big to prosecute. He is, of course, talking about banks--a specific bank in this case, but we'll come to that.

Holder's statement begs the question, if banks have been acknowledged as too big to fail and, if he has extended the "too big' franchise to prosecution for crimes, can too big to audit be far behind? Perhaps they are like mastodons and too damned big to do anything with, short of waiting out their inevitable extinction.

Mr. Holder's statement has been met with everything from incredulity to outrage, yet I see a note of bravery in his public statement, perhaps even patriotism. This man, charged with enforcement of the law and administration of justice, told the Senate (and the rest of the country) what we had all suspected and refused to acknowledge: we are on a track of too big taking over the subsidiary corporate interests that once operated within, rather than outside, the constitutional rights of We, the People. Justice is now not only blind, but has a weight problem. No irony in that, in a nation fighting obesity.

Conservative will scream another Obama scheme, but that's okay, I'm all in favor of anybody who screams about that particular issue. Besides, too big to fail was invented during Bush's last years, in the TARP program. It followed too important to leave the hell alone (Iraq) and too mind-boggling to finance (both the Afghan and Iraq wars). Other subjects for other commentary, let's return to Holder's too big.

HSBC is a British multinational banking and financial services company headquartered in London and it's big in a big way, with 7,200 offices in 85 countries and territories across Africa, Asia, Europe, North and South America. Interestingly, it's a British rather than American bank, but again, size like obesity is an international problem. To cut to the chase, they got caught with their fingers in some very dicey and blatantly illegal dealings in their American division and were breaking American law in the bargain. They admitted as much. The charges?

Money-laundering--over 17,000 alerts identifying suspicious activity, including failure to file timely suspicious activity reports with U.S. law enforcement. A three year failure by HSBC (US) from mid-2006 to mid-2009 to conduct any AML (Anti Money   Laundering) controls over $15 billion in bulk cash transactions from HSBC affiliates, along with a failure to monitor $60 trillion in annual wire transfers. Wow, $60 trillion going who-knows-where? HSBC set up offshore accounts in Jersey (a British tax-free haven) for suspected drug-dealers and other criminals.

Abetting terrorism--they've further been accused of laundering money for terrorist groups.

A Feb. 2013 article in Rolling Stone magazine was critical of what they regarded as the timid response by the U.S. Justice Department, with the article stating,

"Yes, they issued a fine -- $1.9 billion, or about five weeks' profit -- but they didn't extract so much as one dollar or one day in jail from any individual, despite a decade of stupefying abuses" and further stating, "In this case, the bank literally got away with murder -- well, aiding and abetting it, anyway."

So, Eric Holder is probably getting tired of this useless and debilitating workload for his staff. It takes a lot of staff-hours to prepare such an ironclad case that the defendant doesn't even dare litigate. Then a slap on the wrist, let off scot free to continue business in the country whose laws it broke and whose citizens (not being too big to prosecute) would spend decades in jail for the same crime.

But beyond being tired of it (and here I slip into pure conjecture), Holder must have stayed awake nights, pondering the fate of the law in America and his part in its decline. When big-hitters escape the confines of the law, little-hitters (you and me and Uncle Charlie) begin to lose faith in equal before the law. We begin to shrug; "what do you expect, they're banks." More discouragingly; "you'll never change Washington, they're all paid off by special interests and we're just not special. Our interests don't count."

So Eric, I hope that was not an accident, when you told the Senate Committee,

"I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if we do prosecute -- if we do bring a criminal charge -- it will have a negative impact on the national economy, perhaps even the world economy. I think that is a function of the fact that some of these institutions have become too large."

It shouldn't have been and somehow I think it wasn't. It takes courage to lay your job and reputation on the line. Thanks for that. Some of us heard it.

 

http://www.jim-freeman.com

Jim Freeman's op-ed pieces and commentaries have appeared in The New York Times, Chicago Tribune, International Herald-Tribune, CNN, The New York Review, The Jon Stewart Daily Show and a number of magazines. His thirteen published books are (more...)
 

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Follow Me on Twitter

Contact Author Contact Editor View Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

WASHINGTON POST DEAD-WRONG IN CHILD PORNO EDITORIAL

The Trans Pacific Partnership, Yet another Opportunity to Chop-Shop America

Eric Holder Exposes A Nation of Law, Going Lawless

Liar's Poker at the Federal Reserve--"Can't anybody here play this game?"

Dressing Up Space Defense in Dominatrix Clothing

ARRIVAL TIME, 2010; A VIABLE THIRD-PARTY OPTION

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
8 people are discussing this page, with 32 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

But isn't it still Holder's job to prosecute them,... by Donna McKee on Friday, Mar 15, 2013 at 12:46:34 PM
Well, his reason was that prosecution would 'endan... by Jim Freeman on Friday, Mar 15, 2013 at 1:49:11 PM
It's just a sign of the times; under corporate fas... by Alan 8 on Friday, Mar 15, 2013 at 12:47:03 PM
Hmm . . . and that vote for the Greens simply open... by Jim Freeman on Friday, Mar 15, 2013 at 1:58:26 PM
Jim Freeman wrote:"Remember the sliver-election of... by R.A. on Friday, Mar 15, 2013 at 2:48:06 PM
Just to satisfy the record, Gore won the popular v... by Jim Freeman on Friday, Mar 15, 2013 at 4:01:27 PM
Nader got almost 3 million votes in the entire cou... by R.A. on Friday, Mar 15, 2013 at 7:31:21 PM
"Hmm . . . and that vote for the Greens simply ope... by Alan 8 on Friday, Mar 15, 2013 at 3:26:36 PM
MY fault? You're somewhat long on 'comments,' Alan... by Jim Freeman on Friday, Mar 15, 2013 at 6:03:24 PM
Gore blew that election.  He picked the unpop... by Poor old Dirt farmer on Saturday, Mar 16, 2013 at 12:37:47 PM
Excellent critique. What you left out is he shied ... by Jim Freeman on Saturday, Mar 16, 2013 at 1:43:09 PM
Gore was also the architect of NAFTA.  He was... by Alan 8 on Monday, Mar 18, 2013 at 9:07:44 AM
Actually, Gore was not the architect of NAFTA--Geo... by Jim Freeman on Monday, Mar 18, 2013 at 9:45:43 AM
Actually we only have to look at the Law Firm wher... by Poor old Dirt farmer on Saturday, Mar 16, 2013 at 11:03:03 AM
To alan 8's 1st post above - About the Green Party... by Poor old Dirt farmer on Saturday, Mar 16, 2013 at 11:17:31 AM
I wonder if that would open the door or slam it sh... by Jim Freeman on Saturday, Mar 16, 2013 at 1:50:22 PM
Now we're back in the saddle. You make some excell... by Jim Freeman on Saturday, Mar 16, 2013 at 1:47:06 PM
Simply another of Obama's nutless appointees. ... by James Tennier on Friday, Mar 15, 2013 at 1:23:44 PM
Decades from now, George Bush will be remembered a... by Jim Freeman on Friday, Mar 15, 2013 at 2:03:40 PM
The worst crime of Obama may be that he had a hist... by Poor old Dirt farmer on Saturday, Mar 16, 2013 at 11:08:31 AM
Palast is an interesting guy. Why is I'm beginning... by Jim Freeman on Saturday, Mar 16, 2013 at 2:03:49 PM
"Why is I'm beginning to doubt you're poor, old, o... by Alan 8 on Monday, Mar 18, 2013 at 9:19:42 AM
That's absolute nonsense. Of course they're suppor... by Jim Freeman on Monday, Mar 18, 2013 at 10:41:50 AM
Yes, you have been courteous.You have no proof (or... by Alan 8 on Monday, Mar 18, 2013 at 4:51:25 PM
"Insanity: doing the same thing over and over aga... by Jim Freeman on Monday, Mar 18, 2013 at 5:52:24 PM
Holder is as big a thug as those he protects.Too b... by Dennis Kaiser on Friday, Mar 15, 2013 at 3:24:11 PM
In three years and 10 months, you will surely be r... by Jim Freeman on Friday, Mar 15, 2013 at 5:41:45 PM
This humongous superpower called Iceland chopped t... by Arend Rietkerk on Friday, Mar 15, 2013 at 10:46:32 PM
Perhaps more of an oligarchy. Money, power and inf... by Jim Freeman on Saturday, Mar 16, 2013 at 2:11:58 AM
Gore blew that election. He picked the unpopular ... by Poor old Dirt farmer on Saturday, Mar 16, 2013 at 12:40:18 PM
... by Poor old Dirt farmer on Saturday, Mar 16, 2013 at 2:10:24 PM
Probably just a glitch on my part from too many po... by Jim Freeman on Saturday, Mar 16, 2013 at 5:32:40 PM