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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRevolving door: Holder returns to law firm that lobbies for big banks. 7-8 figure compensation.
https://firstlook.org/theintercept/2015/07/06/eric-holder-returns-law-firm-lobbies-big-banks/.....
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.
According to Eric Holder banks are too big to prosecute but it seems he's perfectly capable of defending them.
Eric Holder Admits Some Banks Are Just Too Big To Prosecute
http://www.huffingtonpost.com/2013/03/06/eric-holder-banks-too-big_n_2821741.html
HFRN
(1,469 posts)nice to see wall $treet keep their end of the deal
roguevalley
(40,656 posts)Lowlife coward. I hope he lives forever and feels the scorn
Betty Karlson
(7,231 posts)arcane1
(38,613 posts)Fool me once, shame on you. Fool me every four fucking years, shame on us all!
cui bono
(19,926 posts)He's the only one I see who will actually want to stop this, and attempt to do so.
KG
(28,751 posts)n2doc
(47,953 posts)No one could have predicted that one!
BrotherIvan
(9,126 posts)cui bono
(19,926 posts)BrotherIvan
(9,126 posts)cui bono
(19,926 posts)BrotherIvan
(9,126 posts)pie!
Edited
cui bono
(19,926 posts)You justh ate pie!
But you didn't. And I didn't. Saving my guava cream cheese pie til tomorrow. Have to be good today.
BrotherIvan
(9,126 posts)What angel graced humans with this?? Seriously, I have eaten a guava cream cheese pastry and it was damn delicious. But a pie? A pie?!?!?! I have been cheated for too long. It must mean I hate all of the less fortunate and puppies.
cui bono
(19,926 posts)but it is a 9" round pastry. But they, and I, call it a pie. And I ate almost half of it yesterday. It's from a Cuban place near my house... it is sooooooo yummy in my tummy!!!
EDITED
BrotherIvan
(9,126 posts)A bakery by my old job made these sticks that had guava and cheese in them and then just plain sweet cheese. They were like crack. People couldn't stop eating them. I try to stay away from dessert, but that stuff is just too much temptation. I can see why you want to eat it all. Yum!
cui bono
(19,926 posts)and it's called Romeo and Juliet.
I was good, I didn't eat any yesterday, so tonight I'm gobbling it up! Weaning myself back off sugar. I got into a nasty habit of consoling myself with muffins when I had strep throat and bronchitis and now it's time to stop!
BrotherIvan
(9,126 posts)Strep and bronchitis at the same time sounds pretty bad. I hope you are resting up too.
pa28
(6,145 posts)FYI I think I'm OK now.
rhett o rick
(55,981 posts)Even in states that allow it.
We need to elect someone that doesn't represent the billionaires.
nadinbrzezinski
(154,021 posts)KamaAina
(78,249 posts)she will hopefully soon have a new job much closer to the Waldorf Cat Haven.
gregcrawford
(2,382 posts)D.W. Griffith is chuckling in his grave.
KamaAina
(78,249 posts)who rarely if ever shows up around here anymore , but we're FB friends.
gregcrawford
(2,382 posts)... Bertha's parents must have had a truly warped sense of humor! I knew a guy years ago named Warren Pease, though, knowing his character, I doubt his parents ever read Tolstoy!
KamaAina
(78,249 posts)that's her screen name.
gregcrawford
(2,382 posts)Romulox
(25,960 posts)City Lights
(25,171 posts)CharlotteVale
(2,717 posts)hifiguy
(33,688 posts)You don't even bark at the hand that feeds you.
Scuba
(53,475 posts)cui bono
(19,926 posts)questionseverything
(9,656 posts)truebluegreen
(9,033 posts)I am horribly shocked.
OnyxCollie
(9,958 posts)Octafish
(55,745 posts)More sugar.
truebrit71
(20,805 posts)...against this type of thing....
Fred Sanders
(23,946 posts)do they really do throughout the firm, and what will Holder specifically do in the law firm?
The Intercept article, a re-post from their blog, not sure who they all are, only indicates the firm does corporate and commercial civil litigation, and a lot of pro bono work.
"For insiders, the Holder decision to return to Covington was never a mystery. Timothy Hester, the chairman of Covington, told the National Law Journal that Holders return to the firm had been a project of his ever since Holder left to the join the administration in 2009. When the firm moved to a new building last year, it kept an 11th-story corner office reserved for Holder."
The horror!
.....................................
A better link and source:
Q&A: Eric Holder Jr. Returns to Private Practice
Tony Mauro and Katelyn Polantz
NLJ: Why come back to Covington? Why come back to any corporate defense firm so soon after leaving the Justice Department?
Eric Holder: "Well, coming back to Covington, in some ways, that's easy. This is home for me. It's a collegial place that has great lawyers who are engaged in really interesting, cutting-edge kinds of things. It's got a client base that is worldwide in nature, even more global than it was when I left in 2009. The firm's emphasis on pro bono work and being engaged in the civic life of this country is consistent with my worldview that lawyers need to be socially active."
http://m.nationallawjournal.com/module/alm/app/nlj.do#!/article/1748490151
msanthrope
(37,549 posts)Unlike Mr greenwald Mr Holder apparently kept a license to practice.
pa28
(6,145 posts)Those are the facts presented in the article.
George II
(67,782 posts)...here are lists of their practices and the industries in which they practice:
Practices
Advertising & Consumer Law
Antitrust & Competition Law
Communications & Media
Corporate
Election & Political Law
Employee Benefits & Executive Compensation
Employment
Energy Regulation
Environmental
Federal-State Programs
Financial Institutions
Food & Drug
Government Contracts
Insurance Coverage - Policyholders
Intellectual Property
International
International Arbitration
Litigation
Privacy & Data Security
Public Policy & Government Affairs
Securities/Derivatives Litigation & Enforcement
Tax - White Collar Defense & Investigations
Industries
Aerospace, Defense and National Security
Electronics & Information Technology
Energy & Natural Resources
Financial Services
Health Care
Life Sciences
Media, Internet & Technology
Nanotechnology
Research Universities, Museums & Cultural Institutions
Sports
Strategic Risk & Crisis Management
Transportation
zeemike
(18,998 posts)Particularly the last three on the list.
Public Policy & Government Affairs
Securities/Derivatives Litigation & Enforcement
Tax - White Collar Defense & Investigations
George II
(67,782 posts)If they listed toilet paper I'd bet someone would claim it was a Wall Street interest.
zeemike
(18,998 posts)And one percent is 4 million...and that is many Americans I guess.
And of course toilet paper is of interest to us all, but it may be more of an interest if you have a big chunk of Scott Paper stocks.
calimary
(81,322 posts)hifiguy
(33,688 posts)And I am sure those bags stuffed with millions will make a lovely couch for him to cry on.
I am to the point of hating all these greedy, hypocritical, parasitic fucksticks who look out only for their own net worth, public be damned.
calimary
(81,322 posts)I expected WAY better from him.
irisblue
(32,981 posts)msanthrope
(37,549 posts)good for Eric Holder I bet Mr Greenwald's just jealous that Mr Holder managed to retain a license to practice while he did not.
jtuck004
(15,882 posts)RufusTFirefly
(8,812 posts)You know, "Team of Rivals" and all that.
* 1. Citigroup
2. Goldman-Sachs
4. J.P. Morgan Chase
6. Morgan Stanley
Warpy
(111,277 posts)There were people SMOKING POT!! That was so much more important than going after crooked bankers who only crashed the world economy.
SoapBox
(18,791 posts)We need Bernie.
RoccoR5955
(12,471 posts)Bernie will help end this crap.
pa28
(6,145 posts)Thought I'd post it for the record anyway.
MissDeeds
(7,499 posts)Very well said!
hifiguy
(33,688 posts)This kind of openly corrupt bullshit makes me angry beyond my ability to express it.
uponit7771
(90,347 posts)udbcrzy2
(891 posts)valerief
(53,235 posts)CanonRay
(14,104 posts)I always thought he was a complete asshole and the worst Attorney General appointed by a Democrat in my lifetime.
YOHABLO
(7,358 posts)What do you expect Hillary to surround herself with? When will people wake up? Nothing ever changes.
Elmer S. E. Dump
(5,751 posts)NOT!!!!!
Rex
(65,616 posts)hifiguy
(33,688 posts)Jack Rabbit
(45,984 posts)Just like he was doing the entire time he was Attorney General.
Hoyt
(54,770 posts)Covington's pro bono work includes representation in such landmark cases as Buckley v. Valeo, Griffin v. Illinois[4], and Korematsu v. United States. However, the firm's pro bono program encompasses a range of areas, including freedom of expression and religion; civil rights and civil liberties; gay rights; family law; education; landlord/tenant; homelessness; employment; criminal and court-appointed cases; police misconduct; environmental law; fairness in government procurements and grants; intellectual property; non-profit incorporation and tax.
The firms recent pro bono matters include: Preparing an amicus brief on behalf of a number of social scientists in the Cook v. Rumsfeld case challenging the militarys don't ask, don't tell policy Filing an amicus brief in the United States Supreme Court on behalf of the American College of Obstetricians and Gynecologists (ACOG) in support of the Planned Parenthood challenge of the Partial-Birth Abortion Ban Act of 2003
Supporting the District of Columbia in District of Columbia v. Heller which argues that the District's ban on the possession of handguns and its storage provisions for other firearms in the home is not implicated by the Second Amendment[28]
Primary pro bono counsel for TeachAIDS, a nonprofit which has developed a new method for global HIV/AIDS prevention education
Pro bono accolades[edit]
The American Lawyer "Pro Bono Report", ranked No. 1 in its annual Pro Bono Survey (2006).
The American Lawyer "Pro Bono Report", ranked No. 1 seven out of the last 12 years.
DC Bar Association, Thurgood Marshall Award for commitment to excellence in the fields of civil rights and individual liberties (2006).[5]
Human Rights Campaign, "Ally for Justice" award for providing outstanding legal guidance to the HRC (2006).
https://en.wikipedia.org/wiki/Covington_%26_Burling
You can also look up their clients which includes a lot more than just a few banks.
Admittedly, he's getting paid a good salary, as well he should.
Please excuse my interrupting a Obama Admin bashing. My apologies.
Rex
(65,616 posts)That is obvious, nice try anyway.
pa28
(6,145 posts)The OP is referencing what they are actually paid to do.
Hoyt
(54,770 posts)for much more than that, except to folks who don't look past an OP hit piece.
zeemike
(18,998 posts)All of them do pro bono work...so they can cite it in defense of what they really do...which is pimp for the big boys.
Doctor_J
(36,392 posts)hifiguy
(33,688 posts)They earn their money.
Hoyt
(54,770 posts)zeemike
(18,998 posts)Made millions a year and never got my hands dirty or sweated...I worked hard for the money.
Hoyt
(54,770 posts)zeemike
(18,998 posts)And I see no instance of him putting his life on the line. He never served in the military or did anything dangerous.
But when he had the opportunity to improve this country by prosecuting the banksters he did nothing...so that is in question too.
Hoyt
(54,770 posts)zeemike
(18,998 posts)But he was old enough for Vietnam but the most dangerous thing he did was have a non confrontational demonstration to change the name of a building.
And used car salesmen and shoddy carpenters don't steal billions of dollars and crash the economy of an entire nation do they?
Only the little people commit crimes when they do fraud.
Hoyt
(54,770 posts)I get they loaned money to folks who couldn't repay, but at the time that was viewed as helping people buy houses, not to mention funded lot of jobs. No one was complaining at the time.
Fortunately, laws have been changed and scrutiny increased, even to point where lending got too tight.
zeemike
(18,998 posts)But when there is fraud there is a crime somewhere...like smoke and fire.
But if you say there was fraud but no crime was committed then you are declaring fraud is not a crime...at least for the big money folks.
But let that fraud take place on a low level and someone will go to jail and not just give some of the money back as a fine.
Hoyt
(54,770 posts)zeemike
(18,998 posts)Say you take a bar of lead, cover it with gold leaf and sell it to someone...and they find out it is just lead inside and call the cops on you. The cops would arrest you and you would go to jail because you knew it was not solid gold and sold it as if it was worth something.
That is a simple case of fraud.
But Wall Street bundled worthless mortgages and sold them knowing they were trash...but no one was arrested and the ones who did get caught, that did not have the influences to get away with it, had to pay a fraction of what they got as a fine...no one went to jail.
And it was double fraud, because the taxpayer had to pay for it because the fraudsters were too big to jail or fail.
A clear example of a dual justice system.
Hoyt
(54,770 posts)people who applied for loans that shouldn't have, stupid investors, and others were all complicit.
It's difficult to imprison someone when they were only one of the criminals or dupes. The loans when sold probably weren't bad, until the housing appreciaton bubble burst.
zeemike
(18,998 posts)They should have known they were being scammed...I mean it was right there in the fine print, and they should have hired a lawyer to read it for them.
So the perps are off the hook...the victim is at fault too.
However don't try that small time because you will go to jail. And the taxpayer won't bail you out.
Hoyt
(54,770 posts)zeemike
(18,998 posts)All the players in that game profited from it except the little guy who lost his home and investment and his tax money that went to the banksters...and his pension fund if he had one.
Just because it is sophisticated does not mean it is not a flim flam game.
Babel_17
(5,400 posts)840high
(17,196 posts)treestar
(82,383 posts)And has had no issues with racial discrimination?
zeemike
(18,998 posts)From reading his bio I would guess not...he has been nothing but a student at a prestigious school and a lawyer all of his life.
And I am sure he was discriminated against...they probably did not invite him to one of their all white frat parties or something.
But I have seen nothing in his bio that would make me think he was ever in touch with ordinary people.
treestar
(82,383 posts)In 1969, he graduated from Stuyvesant High School in Manhattan and attended Columbia University, where he played freshman basketball. He earned a B.A. degree in American History in 1973.[10] Holder received his J.D. from Columbia Law School, graduating in 1976. He worked for the NAACP Legal Defense and Educational Fund during his first summer and the United States Attorney during his second summer.[9]
While at Columbia, Holder was a member of the Student Afro-American Society, which staged a non-confrontational occupation of the ROTC lounge and demanded that it be renamed the Malcolm X Lounge.[11][12][13][14][15][16]
https://en.wikipedia.org/wiki/Eric_Holder
It does seem that he was early recognized as extraordinary though.
zeemike
(18,998 posts)But when singled out as being extraordinary at a young age you tend to forget them quickly.
brentspeak
(18,290 posts)Hoyt
(54,770 posts)TBF
(32,067 posts)they must use it as a tax break or something (write off the hours). I spent my 90s in law firms in Wash DC. This is nothing new - and the revolving doors have been going round for a long time.
Hoyt
(54,770 posts)than salary deductions they get if they did nothing but attend conferences. They still forgo income they could be earning from paying clients. Some of the most important cases have been won with pro bono work.
Point is, Holder is rejoining a firm he used to work for that does a lot of good stuff.
TBF
(32,067 posts)could that be because you know this stinks to high heaven?
Keep pushing those establishment values. We have had enough. Enough. And your attitude will only drive away honest dems who are fed up with the status quo.
Hoyt
(54,770 posts)done a lot for the country. I suspect Holder was paid well before he left for a much lower government salary.
TBF
(32,067 posts)I will answer whatever you ask but I didn't see a serious question posed. I haven't been a fan of Holder since he started classifying socialist organizations as "terrorist" - in my book that makes him as bad as a republican and reminds me of the Palmer Raids. The fact that he worked at Covington earlier in his career and goes back there is no big surprise to me. I worked in and around DC for 15 years. This is business as usual.
Hoyt
(54,770 posts)salaries that would have been deductible had they just sat on their rears doing nothing. They obviously gave up doing billable work to do the pro bono stuff.
TBF
(32,067 posts)you either code them to be billed to the firm or to a particular client (with description - in the last firm I worked it I believe we billed in as little as 6 minute intervals - but nowadays with technology I bet they are just keeping track of exact time worked on each matter). Pro-bono hours are all tabulated. I'm not sure if there is a way they can write that off as time given to non-profits? You can put a dollar amount on it because everyone keeps track of it. Depending upon your level in the firm you may get credit for it or may not. I always did as staff (was paid for those hours just like any other hours I worked).
Hoyt
(54,770 posts)TBF
(32,067 posts)of the work or not. You may be correct but I'm not convinced they'd do it if they couldn't find a way to get some benefit. Maybe just the fact that all the big firms do it is pressure enough. Not sure.
Hoyt
(54,770 posts)them any good. Even if they deduct something likeaper, they still are out 70% of whatever they spend. Fact is, it's worthy work that doesn't deserve criticism.
TBF
(32,067 posts)they were actually my favorite projects when I was in firms because you were usually helping actual people rather than faceless corporations.
The point is that people are angry about what they perceive as corruption in Washington DC. I spent 15 years there - and it sounds like you are pretty familiar as well. We both know this is how the city has worked for a long time. There is quite a flux of people that go back and forth between government and private industry. That's just reality.
How we go forward from here and make government work for more people is the question people are really interested in. Bernie supporters would like to see the average people in this country have more of a chance to succeed (mobility). I believe most of Hillary's supporters want the same thing - just may have different ways of looking at some of the issues. I am very familiar with this as I grew up in a union household and support Bernie while my spouse grew up in a professional household and supports Hillary. We look at owners vs. workers in different ways.
I hope at some point on this board we'll be able to come to some solutions that we all could be somewhat happy with. But it shouldn't surprise you to see people talk about these issues. Long time Washingtonians know how this is but other people are just finding out with the advancement of technology. Even when I lived in Washington (80s/90s) the internet was not widespread. People in Peoria had no idea what goes on in that city and that underlies many of the issues people have with trusting politicians. Now they are finding out how some of it works in practice & unfortunately their fears are being realized.
Hoyt
(54,770 posts)I get he didn't go after george war bush, and might not have jailed all the banksters.
But, the government did jail some and laws were passed to help prevent bad loans in the future. There were a lot of people that deserve blame for the loan issues besides just banksters, including people who were promoting the construction industry for the jobs in provided, people who wanted more people to have a chance at a house, people who shouldn't have been given loans in the first place, local retailers who profited from construction worker money, government officials, etc. In suspect the fear among the banksters probably made our recession worse by them severely cutting back on loans.
As much as I think bush is a war criminal, and probably worse, I have a hard time going after Presidents when they are out of office. I think it sets a bad precedent that will be used against every Prez. Right or wrong (wrong in my opinion), Americans elected bush. He's gone, and despite his happy face, I suspect he's living in shame.
Edited title -- I meant to say I agree with TBF's post above. It was a very good post.
Fred Sanders
(23,946 posts)Fred Sanders
(23,946 posts)hatrack
(59,587 posts)Pretty much every major law firm does some pro bono work, and you post some data from almost ten years ago regarding how good they are (were) at it.
So what?
TM99
(8,352 posts)Pay no attention to our neo-liberal economic policies and positions, just look at how socially liberal we are.
All the social justice in the world doesn't matter for shit if it is not tied to economic justice as well.
Holder got paid. Holder played. Holder gets his reward. Good for him. Fucking bad yet again for us!
Doctor_J
(36,392 posts)Cue the accusation of racism on the part of anyone who criticizes this turn of events
JEB
(4,748 posts)is going to kill our country.
as I said in another post this is the way DC has functioned for a long time. I lived in the area for 15 years when I was younger. And it functions this way for both parties ... the only thing that is changing is that people around the country are finally finding out about it (mostly thanks to technology I believe).
cherokeeprogressive
(24,853 posts)99Forever
(14,524 posts)Blatantly sticking it to We the People.
Again.
ozone_man
(4,825 posts)Is the best corporate president since Bill Clinton, who signed Glass-Steagall out of existence, allowing the too big to fail banks. Obama made sure the too big to fail banks were never split up, never prosecuted. Holder's mission complete.
Fred Sanders
(23,946 posts)840high
(17,196 posts)Or something like that.
raouldukelives
(5,178 posts)What they desire for themselves, becomes reality for all.
lonestarnot
(77,097 posts)Babel_17
(5,400 posts)Our nation's capitol is wrapped in money, it's intertwined with everything, and everyone. It's not unexpected that Holder does for himself what countless other policy makers have done before him.
We note it, and solemnly determine to continue demanding a better system.
If this is suggestive of a trend as top people from our party seek careers in the private sector, as the current administration winds down, then I say we have our work cut out for us.
Our candidates will have to deal with the issue and our party has to recognize that Republicans will encourage this to be framed in the worst possible way for us.
They have no problem blaming us for war, the banking collapse, and poverty. To make the accusation of being the helpers of Wall Street in bankrupting the little guy will be no stretch at all for them.