Skip to main content

View Diary: The Moral Rot of America, the Well Has Been Poisoned. (143 comments)

Comment Preferences

  •  Holder should be fired, he is a worthless AG (6+ / 0-)

    and I'm reminded again of that stupid letter that Chris Dodd sent to him months ago (a typical CYA letter)....

    March 19, 2010

    The Honorable Eric H. Holder, Jr.
    Attorney General of the United States
    United States Department of Justice
    950 Pennsylvania Avenue, NW
    Washington, D.C.  20530

    Dear Attorney General Holder:

               I am deeply concerned about the facts that have come to light regarding the demise of Lehman Brothers and the accounting manipulation that contributed to it.   I respectfully ask you to commission a task force to investigate the Lehman situation as well as other companies that may have engaged in similar accounting manipulation with a view to prosecution of employees or agents who contributed to any violations of the law.

               According to the Report of the U.S. Trustee-appointed Examiner Anton R. Valukas, Lehman presented a misleading picture of its financial condition to the public by using extensive repurchase agreements known as Repo 105 transactions. The Examiner found that "Lehman did not disclose its use – or the significant magnitude of its use – of Repo 105 to the Government, to the rating agencies, to its investors, or to its own Board of Directors." The result was to conceal its holdings of bad assets and to temporarily remove approximately $50 billion of assets from its balance sheet at the end of the first and second quarters of 2008.  The Examiner found that Lehman used Repo 105 transactions for no other articulated purpose than to shrink its balance sheet at the quarter-end, in a manner that deceived investors and creditors about its true financial state and misleading others.
               We must work tirelessly to reduce the incidence of financial fraud in order to restore trust and confidence in the financial markets. A task force investigation and taking appropriate Federal actions in these matters will contribute to these goals.

                                                                                                   Sincerely,                                                                                                Christopher J. Dodd

    One of the biggest crooks of all, Joe Cassano, from AIG was let go totally free, from the AIG bullshit, after a two year investigation by Holder, and you want to know why?

    Same reason, that the Obama Adminsitration has been using from the get go:

    If they dare to let one of these 'crooks and liars' go to jail, that means, the rest of them have to go to jail too.

    You see how it all works?

    The systemic corruption, goes all the way to the very top of our government, so many were involved, that they just can't even put one of the 'fuckers' in jail, or they all go down.

    Ain't that the gosh derned truth.....

    Ms. B.                

Subscribe or Donate to support Daily Kos.

  • Recommended (177)
  • Community (71)
  • Civil Rights (50)
  • Baltimore (44)
  • Elections (39)
  • Culture (38)
  • Bernie Sanders (36)
  • Economy (33)
  • Texas (32)
  • Law (31)
  • 2016 (28)
  • Labor (27)
  • Environment (27)
  • Hillary Clinton (26)
  • Education (23)
  • Rescued (22)
  • Freddie Gray (21)
  • Politics (21)
  • Barack Obama (21)
  • Media (20)
  • Click here for the mobile view of the site