Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGoldman Non-Prosecution: AG Eric Holder Has No Balls
...the real reason this wasnt surprising is that Holders decision followed a general pattern that has been coming into focus for years in American law enforcement. Our prosecutors and regulators have basically admitted now that they only go after the most obvious and easily prosecutable cases.
If the offense committed doesnt fit the exact description in the relevant section of the criminal code, they pass. The only white-collar cases they will bring are absolute slam-dunk situations where some arrogant rogue commits a blatant crime for individual profit in a manner thoroughly familiar to even the non-expert portion of the jury pool/citizenry.
In other words, theyll take on somebody like Raj Rajaratnam, who stacked his illegal insider trades so brazenly and carelessly that his case almost reads like a finance version of Jeff Dahmer tripping over bodies in his Milwaukee apartment. Or theyll pursue Bernie Madoff on the tenth or eleventh time he crosses their desk, after years of nonaction, and after he breaks down weeping and confessing. Basically, if someone backs a dump truck up to the DOJ and unloads the entire case, gift-wrapped, a contrite and confessing criminal included, a guy like Eric Holder might, after much agonizing deliberation, decide to prosecute.
But heres the thing: most of the crimes Wall Street people commit involve highly specific, highly individualized transactions that wont fit Eric Holders bag of cookie-cutter statutory definitions. That is not the same thing as saying theyre not crimes. They are: the crimes of the crisis period were and are very basic crimes like fraud, theft, perjury, and tax evasion, only theyre dressed up in millions of pages of camouflaging verbiage.
...
Holders non-decision on Goldman is more than unsurprising. It amounts to an official announcement that the government is no longer in the business or prosecuting smart criminals. Its pathetic. The one thing you pay any lawyer to have is balls, and our nations top attorney has none.
Read more: http://www.rollingstone.com/politics/blogs/taibblog/ag-eric-holder-has-no-balls-20120815#ixzz23escbOvL
If the offense committed doesnt fit the exact description in the relevant section of the criminal code, they pass. The only white-collar cases they will bring are absolute slam-dunk situations where some arrogant rogue commits a blatant crime for individual profit in a manner thoroughly familiar to even the non-expert portion of the jury pool/citizenry.
In other words, theyll take on somebody like Raj Rajaratnam, who stacked his illegal insider trades so brazenly and carelessly that his case almost reads like a finance version of Jeff Dahmer tripping over bodies in his Milwaukee apartment. Or theyll pursue Bernie Madoff on the tenth or eleventh time he crosses their desk, after years of nonaction, and after he breaks down weeping and confessing. Basically, if someone backs a dump truck up to the DOJ and unloads the entire case, gift-wrapped, a contrite and confessing criminal included, a guy like Eric Holder might, after much agonizing deliberation, decide to prosecute.
But heres the thing: most of the crimes Wall Street people commit involve highly specific, highly individualized transactions that wont fit Eric Holders bag of cookie-cutter statutory definitions. That is not the same thing as saying theyre not crimes. They are: the crimes of the crisis period were and are very basic crimes like fraud, theft, perjury, and tax evasion, only theyre dressed up in millions of pages of camouflaging verbiage.
...
Holders non-decision on Goldman is more than unsurprising. It amounts to an official announcement that the government is no longer in the business or prosecuting smart criminals. Its pathetic. The one thing you pay any lawyer to have is balls, and our nations top attorney has none.
Read more: http://www.rollingstone.com/politics/blogs/taibblog/ag-eric-holder-has-no-balls-20120815#ixzz23escbOvL
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
3 replies, 853 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (9)
ReplyReply to this post
3 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Goldman Non-Prosecution: AG Eric Holder Has No Balls (Original Post)
phantom power
Aug 2012
OP
"a spineless bureaucrat and obsequious political creature masquerading as a cop"
just1voice
Aug 2012
#1
One factor I didn't see him mention: AGs get "scored" by conviction rates...
phantom power
Aug 2012
#3
just1voice
(1,362 posts)1. "a spineless bureaucrat and obsequious political creature masquerading as a cop"
Perfect description of today's completely corrupted financial and regulatory system, all the way to the top.
phantom power
(25,966 posts)3. One factor I didn't see him mention: AGs get "scored" by conviction rates...
Attorneys General are, implicitly or explicitly, "trained" over time to favor slam-dunks since it keeps their conviction rates high, and that looks good on their resume.
If you go after high-impact but also higher-risk cases, it may lower your conviction rate, even if you're "doing the right thing"
Loge23
(3,922 posts)2. Great piece by Taibbi
Really one of his all-time best.
The line about Raj Rajaratnam is classic!
But....nothing will be done.