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No bank too big to indict -- Holder

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Mortgage Professional America | 27 Jan 2014, 07:06 AM Agree 0
Attorney General Eric Holder says there are no banks too big to indict and no bank executives above prosecution
  • Dirk LO in Pa. | | 27 Jan 2014, 09:11 AM Agree 0
    When are they going to start investigating Wells Fargo?
  • John | | 27 Jan 2014, 09:15 AM Agree 0
    Good! get on with the indictments all ready
  • Cheryl M | | 27 Jan 2014, 09:16 AM Agree 0
    Do I hear a Wells Fargo...going once, going twice?
  • Rikard Kilgaren | | 27 Jan 2014, 09:25 AM Agree 0
    Why aren't the FDIC, the Comptroller of the Currency and other agancies performing their regulatory oversight? Re-enact Glass-Stegal, and a lot of this will simple go away.
  • James | | 27 Jan 2014, 09:45 AM Agree 0
    I'll believe it when it happens.
  • seriously | | 27 Jan 2014, 09:46 AM Agree 0
    They will not do anything because the government and the banks were both complicent in the mortgage meltdown. The rules were approved by the government and the banks just followed the rules. This is all smoke and mirrors by this administration to distract the public from the real crimes in Libia Bengazi, the IRS.
  • Dan | | 27 Jan 2014, 09:47 AM Agree 0
    How Nice! Now its time to take it to the next level. Throw the(ir) bums in the pokey! bums defined as executives and board of directors. I'm sure there's capable professionals who are able to take over the reins of these T.B.T.F banks.
  • Jana | | 27 Jan 2014, 09:58 AM Agree 0
    Geez... why all the negativity? Do you know of crimes that have been commited?
  • Gary J. Heinecke | | 27 Jan 2014, 10:01 AM Agree 0
    It's all about money. How much did JAMIE Dimon get as a salary increase? Obviously they ran their business with a very small cost because the feds allowed them to make so much. Now it's time for a little payback. ALL SMOKE AND MIRRORS from the crooks in WASHINGTON. Isn't DIMON on the Federal RESERVE BOARD? Tell this to someone who doesn't know what the shakedown is really about. How about the builders who require their financing be utilized or buyers can't get the extras advertised? In reality the consumer is steered to a more expensive mortgage much like a CAR dealer. Don't forget the beneficial opportunity that Dianne Feinstein took advantage of through the liquidation of the US post offices through her husband as broker. Wasn't Geitner responsible for this as well?
    After all he was in charge of the Post office and running them into near bankruptcy. Why not put him in charge of the Treasury? Sure Bengazi just another prime example of gov't cover ups at their finest. Mark will need to get elected for sure but he will have to appointed to the Financial Services Committee or all may be in VEIN.
  • Lisa | | 27 Jan 2014, 10:02 AM Agree 0
    I'll believe when I see it, most of these crimes were years ago and now they may not be able to prosecute with statute of limitations, a nice out for the government
  • Griff | | 27 Jan 2014, 10:13 AM Agree 0
    Any future lawsuits would follow the JPM settlement,,,,, so in other words, no one will go to jail. They will pay up and keep on rolling.
  • Mary | | 27 Jan 2014, 10:13 AM Agree 0
    You cannot sue the king without the king's permission...They are all in it together. While main street is nearly in rags the 1% is raking it all in.
  • Edward | | 27 Jan 2014, 10:28 AM Agree 0
    When is someone going to investigate Holder?
  • Cheryl M | | 27 Jan 2014, 10:33 AM Agree 0
    "Seriously" you have it wrong, the banks did NOT follow the rules hence the problem now. The banks only did what was "profitable" for them by doing that they(the Banks) broke the rules...
  • Pierce | | 27 Jan 2014, 10:35 AM Agree 0
    It's not just the government, we have created a culture of greed from top to bottom, greed is endemic!
  • John C Durham | | 27 Jan 2014, 12:21 PM Agree 0

    Like most key people around Obama, (excepting Warren & Cordray), Bush before him, Clinton before Bush, Reagan before Clinton, Carter before Reagan, Nixon before Carter, Holder should be in Jail.
  • IrvineMichele | | 28 Jan 2014, 01:06 AM Agree 0
    Jeez! Tough crowd :-)
    If anyone was actually around back in the 80's when the S & L industry went bust - you'd recall nobody ever went after the C-level management. The banks either went into receivership OR they simply closed them down. No payoffs, no fines, nothing. This is a step in the right direction and its intent is to send a message: There will be a fall-guy..can't hide behind "I just worked there" anymore.
  • John C Durham | | 28 Jan 2014, 08:58 AM Agree 0
    You are partly right, closing down the source of the securities paper fraud would only affect TBTF banks in the "Canyons of Wall Street" (David Stockman). If all these banks had been put into FDIC Receivership, there would not have been a "Mortgage Crisis" and millions would still be in their homes. Yes, we should have just shut them down and sold them off and gotten out of the mess, but we didn't and we haven't, ie, insolvent banks have grown in size and have increased their speculative positions. It would take somewhere around $4 Trillion to bail them out and keep them going if a "Crisis" was declared today.

    But, almost 1,000 top bankers went to prison afterwards. See William K Black, a regulator at the time and professor of economics at Missouri. Also, see James K Galbraith. And, for a really tough crowd, Executive Intelligence Review.

    Money from deposits, cities, states, funds, all go to Wall Street every day when the Sun does down. The ORIGIN of the money they play with begins with us. Since Glass-Steagall was killed, trading houses now act as BANKS and CREATE U.S. money and PLAY WITH THAT ALSO.

    The Big Banks are a drag on the economy and need to be replaced with Public City, State and Treasury Banks. The S & L debacle cost us under 75 Billion, all costs considered. The past, present, ongoing debacle has cost the general economy close to $4 Trillion, not counting 95% of the foreclosures which were outright theft of property.

    The TBTF banks having already been paid by "Investors" and insurance companies but never passing THE NOTE through to investors and not deserving any insurance, having already been paid off by the investors.

    So, in conclusion, our business is much changed and unpredictable because of all these factors. When the big shots go to jail, GLASS STEAGALL is restored and the FDIC moves to break up the TBTF banks, THE LIGHTS WILL COME BACK ON.

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