Bankers Too Big To Jail

• Below: Eric Holder testifies that some corporations may be too big to prosecute.

• As alluded to above, the so-called "Holder memo" written during his earlier tenure at DOJ allows wiggle room for corporate execs to dodge prosecution if that might cause "collateral consequences" to the national or world economy.

• Below: Eric Holder with NBC's Pete Williams (11.2013) in a Bill Moyers & Company video (10.4.14). White-collar criminologist Bill Black, author of "The Best Way To Rob A Bank Is To Own One," calls the DOJ's inaction "the greatest strategic failure in the history of the Department of Justice."

• Below: President Robert Weissman of watchdog group Public Citizen describes the poor track record of Eric Holder's DOJ regarding criminal prosecutions for corporate crimes.

• "(Eric Holder's) tenure has proven unhelpful to the five million victims of mortgage abuses in the US." —David Dayen, the guardian.com

• Below: Watch investigative journalist Matt Taibbi's reporting on the massive rip-off by white collar criminals "no longer appropriate for jail."

• “Friends and former colleagues ... say it would be no surprise if (Holder) returned to the law firm Covington & Burling, where he spent years representing corporate clients." —NPR

• "A large chunk of Covington & Burling’s corporate clients are mega-banks like JPMorgan Chase, Wells Fargo, Citigroup and Bank of AmericaLanny Breuer, who ran the criminal division for Holder’s Justice Department, already returned to work there." —NPR

• "The Wall Street Journal found that the Justice Department only collects around 25% of the fines they impose ... The DoJ’s Inspector General ... found that DoJ deprioritized mortgage fraud, making it the 'lowest-ranked criminal threat' from 2009-2011."—David Dayen, the guardian.com

• Amy Goodman (host of "Democracy Now"): "Who was tougher on corporate America, President Obama or President Bush?"

 Matt Taibbi: "Oh, Bush, hands down. And this is an important point to make, because if you go back to the early 2000s, think about all these high-profile cases: Adelphia, Enron, Tyco, WorldCom, Arthur Andersen. All of these companies were swept up by the Bush Justice Department. And what’s interesting about this is that you can see a progression. If you go back to the savings and loan crisis in the late '80s, which was an enormous fraud problem, but it paled in comparison to the subprime mortgage crisis, we put about 800 people in jail during ... that crisis. You fast-forward 10 or 15 years to the accounting scandals, like Enron and Adelphia and Tyco, we went after the heads of some of those companies. It wasn't as vigorous as the S&L prosecutions, but we at least did it. ... We’re now in a place where we don’t even recognize the importance of keeping up appearances when it comes to making things look equal."

Department of Whining:
"
One would be hard put to identify an Attorney General who so explicitly turned the Justice Department into a political weapon ... The financial settlements that Holder Justice squeezed out of major banks are Exhibit A. Massive fines were imposed on J.P. Morgan Chase and Bank of America explicitly as punishment for the 2008 financial crisis. No matter how unprovable the charges, the banks settled because they couldn't endure the continuing political risk of even more severe punishment. President Obama bragged about punishing financial institutions throughout his 2012 re-election campaign." —Wall Street Journal editorial, September 2014

• Latest news: JPMorgan whistleblower featured in new Rolling Stone article by Matt Taibbi. Watch them interviewed by Chris Hayes on 11.10.14 below: